RE: Context30 Sep 2021 10:53
Dear Mike,
Thank you for your email. It is always good to be able to share additional clarification with your group.
Geophysical techniques, including magnetic surveys are purely a guide to what may lie beneath the surface. Clearly, they rely on remote sensing to identify any anomalies in the field being tested, as we are unable to accurately say what is there, until we drill. The magnetic survey conducted at Copperhead identified a gradual increase in magnetism at depth. This of course does not translate into "copper" and increased magnetism may be caused by many factors.
The principle points in my RNS are:
1) chalcopyrite (copper sulphate) has been intersected
2) chalcopyrite has been intersected over very large intervals
3) at 500m below surface, we are still observing chalcopyrite-bearing veins.
It is important to understand that geophysical indicators, weak or otherwise, are simply a useful guide and are never definitive. Copper, particularly in porphyry systems is often associated with alteration of the rock by magnetite. My RNS informed the market that an increase in alteration magnetite is occurring - this is a good sign.
I trust this explains the position more thoroughly. Please feel free to contact me again for further clarification if required.
Kind regards,
David
David W Price - CEO
Rockfire Resources plc