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Rockfire Resources Plc
Summary
| Project: | Copperhead | |
|---|---|---|
| Deposit: | Copperhead | |
| Location: | Australia | |
| Commodities: | Copper | |
| Date: | 6/10/2019 | |
| Report Code: | (no Code) | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-6-2019: Rockfire Resources Plc announces a Resource Estimation report for its Copperhead deposit at the Copperhead project. Historic resource estimate at copperhead. Further to its announcement on 2 July 2018, Rockfire Resources plc (LON: ROCK) is plea | |
| Resources: | (Resource, historical): 122,500t CuEq | |
| CP/QP: | [Overall Report]: Edward Fry (Internal) | |
| ABSTRACT: | Further to its announcement on 2 July 2018, Rockfire Resources plc (LON: ROCK) is pleased to announce a grade increase to the 1972 historical metal estimate at its 100% owned Copperhead Project in north Queensland, Australia ("Copperhead"). This upgrade results from including a second round of core sampling in 1988 and significant molybdenum, both of which were not included in the original estimate. David Price, Chief Executive Officer of Rockfire commented; Our technical team have been working on the Copperhead Project to plan geophysical surveys. During this detailed planning, it was noted that the original drilling encountered significantly high values of molybdenum. When the molybdenum values are incorporated into the original 1972 estimate, the result is a much higher average copper equivalent grade. Additionally, the copper values obtained from subsequent sampling of the drill core in 1988 further increase the average grade to 0.35% Cu equivalent." "This is a very significant finding for the Company. It is worth noting that the average grade of all copper produced from the USA, Canada, and Mexico between 2005 and 2017 varies between 0.25 - 0.40 % copper." "We are very excited by Copperhead's potential and have developed a staged and thorough exploration approach. Planned drilling is expected to deliver the next important growth milestone. In the interim, geophysical surveys are being designed to highlight potential zones of higher copper grade. Success with such a program could materially enhance the economic potential of the project." | |
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