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Rockfire Resources doubles copper target at Copperhead
StockMarketWire.com
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Gold and base metal exploration company Rockfire Resources has doubled the footprint of potential copper mineralisation at its 100%-owned Copperhead porphyry project in North Queensland, Australia.
Its helicopter geophysical survey in December revealed the copper target is now defined by a minimum area of 5 km east-west x 3 km north-south.
Faults and fractures are clearly defined and correlate well with known copper mineralisation already discovered in streams, soils, and drilling completed by Carpentaria Exploration in 1972. The drilling in 1972 tested an area less than 0.6% of the expanded target area.
David Price, chief executive officer of Rockfire, said: 'The result of the magnetic survey is a very exciting development for Copperhead. Rockfire's determination to identify large mineral deposits is starting to bear fruit and a doubling of the Copperhead footprint is an exceptional outcome from our exploration efforts.'
He added Copperhead is increasingly becoming a high-value project for Rockfire and more work is therefore planned to advance the project.
'This geophysical survey has highlighted additional, large-scale targets, defined fault patterns, and identified a preferential direction for future drilling. In summary, this programme has achieved much more than we anticipated and has been very rewarding for the company,' he said.
At 9:09am:
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(LON:ROCK) Rockfire Resources Plc Ord 0.1p share price was 0p at 0.83p
Story provided by StockMarketWire.com
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