This announcement contains inside information
9 October 2018
Rockfire Resources plc
("ROCK" or "the Company")
IP data highlights strong target at Copperhead
The Board of Rockfire Resources plc (LON: ROCK), is pleased to inform shareholders that the Company's technical team has located historical geophysical data which identifies a very strong Induced Polarisation (IP) Chargeable anomaly at Copperhead in Queensland, Australia. The discovery of this historical data saves the Company significant cost and time and enables ROCK to proceed directly to deeper-penetrating geophysics to test responses at depth.
· Data from a 1972 Induced Polarisation geophysics survey has recently been located;
· An extensive Chargeable anomaly up to 48 millivolts/volt (mV/V) is considered strongly anomalous;
· This anomaly is four times stronger than that identified at the Marengo Project in May 2018;
· The chargeable anomaly appears to strengthen towards the west and signifies an extension to the Copperhead target of more than 500m;
· The IP correlates well with the +300ppm copper-in-soil anomaly;
· The Copperhead tenement boundary lies a further 5km away from the IP anomaly, providing abundant opportunity to grow the copper resource on the Company's tenement;
· Based on this data, Rockfire plans to proceed directly to dipole-dipole IP which will provide a third dimension to the geophysical understanding and help to produce a target in 3-dimensions;
· Meanwhile, drilling results are awaited from September 2018 drilling at Marengo, Queensland.
A link is provided below which shows the magntitude and extent of the Chargeable anomaly at Copperhead.
http://www.rns-pdf.londonstockexchange.com/rns/4157D_1-2018-10-9.pdf
Chief Executive Officer of Rockfire, David Price commented:
"The discovery of this old data saves an enormous amount of money and time for the company and provides excellent geophysical data. The data is of high quality and has been put into digital format from hand-drawn contours. Copperhead has 5 diamond drill holes which have all intersected broad copper values over several hundred metres depth (with a maximum assay result of 2.81% Cu). This historical IP data extends the target zone by at least a further 500m along strike towards the northwest."
Competent Person Statement:
Information in this announcement that relates to exploration results is based on information compiled by Mr David Price, a Director of Rockfire Resources plc, who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr Price has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr Price consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.
For further information on the Company, please visit www.rockfireresources.com or contact the following:
Rockfire Resources PLC David Price, Chief Executive Officer |
Email: [email protected] |
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Cenkos Securities plc (Nominated Adviser & Joint Broker) Derrick Lee / Beth McKiernan |
Tel: +44 (0)131 220 6939 |
First Equity Limited (Joint Broker) |
Tel: +44 (0)20 7374 2212 |
Jason Robertson |
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