Business
Option to acquire a high-potential copper project
Option to acquire a high-potential copper project.
About this update from Rockfire Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5096I Rockfire Resources PLC 26 November 2018 \n\nThis announcement contains inside information\n \n26 November 2018\nRockfire Resources plc\n(\"ROCK\" or \"the Company\")\n \nOption to acquire a high-potential copper project\n \nRockfire Resources plc (LON: ROCK), the Queensland copper and gold-focused resource company, is pleased to announce that it has entered into an option to acquire the Copper Dome Porphyry Copper Project in Central Queensland (\"Copper Dome\"), (the \"Option\"). Under its historical name of \"Mt Leslie\", Copper Dome is listed in the \"Global Mineral Resource Assessment\", published in 2010 by the US Geological Survey and, in the event the Option is exercised, would potentially add material value to Rockfire's porphyry copper portfolio.\n \n· Copper Dome is a large-scale mineralised system only 50km from Copperhead. The surface expression of the copper mineralisation is over 2km long and 1km wide and the prospect is vastly under-explored;\n \n· Previous diamond drilling in 1972 intersected;\n \nØ 15.24m @ 0.88 % Cu (including 4.58m @ 2.28 % Cu) from 161m downhole depth\nØ 12.20m @ 0.61 % Cu (including 3.05m @ 1.24 % Cu) from 54m downhole depth\nØ 24.38m @ 0.27 % Cu (including 7.4m @ 0.43% Cu) from 225m downhole depth\nØ Percussion hole PH001 - 38m @ 0.13 % Cu (from 17m downhole depth)\n \n· Diamond hole QML004 - 51.20m @ 0.20 g/t gold (from 72m downhole depth)\n \n· Many intervals of visible copper mineralisation remain un-assayed for copper and gold;\n \n· Only sporadic gold analysis has been done, with gold peaking at 1.86 g/t Au in drilling;\n \n· The mineralisation outcrops at surface, providing low-cost, near-surface exploration, resulting in lower anticipated exploration costs.\n \n· Should the acquisition complete, Rockfire would have 100% ownership of Copper Dome.\n \n \nChief Executive Officer of Rockfire, David Price commented:\n \n\"The acquisition of Copper Dome would be a tremendous fit with Rockfire's existing portfolio of porphyry copper prospects and I view this as a potential strategic plat...