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56,000T copper in Copperhead historical estimate
56,000T copper in Copperhead historical estimate.
About this update from Rockfire Resources Plc
[{"type":"text","content":"\n \nRNS Number : 2928T Rockfire Resources PLC 02 July 2018 \n\n02 July 2018\nRockfire Resources plc\n(\"Rockfire\" or \"the Company\")\n56,000T copper in Copperhead historical estimate\nThe Board of Rockfire Resources (LON: ROCK), is pleased to inform shareholders that a recent review of previous work at Copperhead has revealed an historical estimate of metal content of 56,000T copper at its 100%-owned Copperhead Project in north Queensland, Australia.\n \nHighlights:\n· A detailed appraisal of past exploration at Copperhead has unveiled an estimate of copper content calculated by Carpentaria Exploration Company Pty Ltd (\"Carpentaria Exploration\") in 1972.\n \n· 35 million tonnes @ 0.16% Cu for 56,000t of copper **. Note that this historical estimate was calculated prior to the introduction of the JORC Code and was an internal estimate calculated by Carpentaria Exploration based on standard exploration drilling and analysis techniques at the time. Subsequent core sampling in 1988 has lifted the average core grade to 0.25% Cu.\n \n· The monetary equivalent of an \"in-ground\" value** can be calculated as an exploration target only, using open sources such as the current price of copper on the London Metal Exchange (US$6,711/t as at 28th June 2018). Any calculation of In-ground values do not take into account capital and operating costs, economic factors or mining methodologies.\n \n· Induced Polarisation geophysics is being planned to help target potential extensions and high-grade zones\n \n· Drilling is being planned to verify and expand the historical drilling results to enable Rockfire to establish a mineral resource at Copperhead in due course\n \n\n\n\n** The estimation provided is historical in nature and not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the historical estimates as mineral resources or reserves in accordance with the JORC Code. The potential in-ground value, as well as the historical quantity and grade are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the ...