Dec 03, 2020

Rockfire turns attention to large tonnage copper target

Rockfire turns attention to large tonnage copper target

Rockfire Resources has started a helicopter-supported aeromagnetic survey at its Copperhead porphyry copper deposit in Central Queensland.

It follows a recent drilling campaign at the company’s Plateau gold project, within the Lighthouse tenement area about 50km south-east of Charters Towers.

Rockfire described Copperhead as having a 2km by 3km copper-in-soil anomaly, providing a very large tonnage target.

It said there was an historical (non-JORC) mineral content estimate calculated from drilling in 1972 of 87,500 tonnes of copper.

The survey currently being flown will aid in defining structural orientations, which is expected to highlight preferential fluid pathways for higher-grade copper.

Rockfire said the survey outcomes were expected before the end of this month and would help guide planned diamond drilling in 2021.

“The company remains strongly focused on organic exploration success and, as usual, Rockfire is extremely busy with its exploration efforts, with a large amount of on-going work across our various projects,” chief executive officer David Price said.

“Our program to advance Plateau and our regional prospects are underway and proceeding well.

“It is pleasing to have such high-quality exploration data available to us which was obtained from our diamond drilling at Plateau.”

While the company remained heavily focused on the advancement of Plateau, it would continue to further progress other assets in North Queensland simultaneously, he said.

“These programmes will continue through to early next year and we look forward to updating the market of our developments in due course,” Mr Price said. 

The company is planning to seek expressions of interest in establishing a farm-in and joint venture for its Marengo project to allow it to concentrate financial and human resources on Lighthouse, Copperhead and Copper Dome.

Geological and mineralisation modelling is in progress to update the JORC resource for the Plateau gold deposit within the Lighthouse tenement.

In 2019, Rockfire estimated a maiden JORC resource of 1.147 million tonnes at 1.1g/t gold for a total of 40,400 ounces of gold at Plateau. 

It is expected that the resource update will be released prior to the end of February 2021.

A gravity survey at Plateau, which was scheduled for the 2020 calendar year will now be undertaken in 2021 due to the unavailability of contractor equipment.