28th Sep 2021 17:51
Rockfire Resources PLC - gold and base metal exploration company - Says drilling at Copperhead porphyry project in North Queensland, Australia, is "progressing well".
Notes drilling of the first two exploration holes is complete and a third hole is currently in progress. Drillhole BCH001, the first hole, was drilled to 501.4 metres and copper-bearing veins have been recorded from 8.0 metres to the end of hole. Chalcopyrite veins are still being recorded at 500.9 metres, company says.
Chief Executive David Price says: "The geology and mineralisation being observed in our first drillhole is in line with the geological logs from drilling in 1972. Assays are pending, however, so it would be premature to attempt to correlate copper grades with historical drilling.
"Even without knowledge of the grades yet, the presence of the copper sulphides throughout the hole and to a downhole depth of 500 m supports our belief for the potential of a large, mineralised porphyry copper/molybdenum system."
Current stock price: 0.95 pence, down 2.6%
Year-to-date change: up 2.2%
By Paul McGowan; [email protected]
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