LONDON (Alliance News) - Miner Rockfire Resources PLC on Wednesday said it completed its drilling programme at the Marengo gold-copper project in Queensland, Australia.
The company said drilling has encountered copper mineralisation, which is considered a great success in a maiden drilling programme.
Rockfire Resources said it drilled five holes at Homeward Bound prospect, where it discovered quartz and sulphides, including pyrite and chalcopyrite.
At One Mile Mountain prospect, the company said it found pyrite, with only trace amounts of chalcopyrite observed.
Two shallow holes drilled beneath the historical workings at Albion prospect contained weathered iron oxides, which may represent weathered pyrite, Rochfirre Resources explained.
The company said it delivered all samples to the lab and expects to receive assay results in the next four weeks.
"The company continues to build the evidence behind selected targets in its quest for sizable deposits," said Chief Executive David Price.
Shares in Rockfire Resources were trading 1.5% lower on Wednesday at 1.31 pence each.
Rockfire Resources (ROCK)