Drill result support continuity of grade at Molaoi

Rockfire Resources PLC

13 June 2023

 

The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.

13 June 2023

Rockfire Resources plc

("Rockfire" or the "Company")

Drill results continue to support continuity of grade at Molaoi

Rockfire Resources plc (LON: ROCK), the base metal, gold and critical mineral exploration company, is pleased to announce that the Company's fourth drill hole, as part of its geotechnical drilling programme at the Company's Molaoi zinc deposit in Greece ("Molaoi"), continues to encounter strong zinc continuity.

Highlights

·    Two lodes have been intersected in the fourth drill hole (MO_GTK_004), reaffirming that multiple lodes are continuous at Molaoi.

·    Minimum underground mechanised mining widths of 2m continue to be intersected, providing encouragement for further grade input to preliminary underground mine designs.

·    An upper lode of 2.37m @ 6.0% Zn occurs from 107m, as well as 0.8% Pb and 31.3g/t Ag.

·    A lower lode of 2.3m @ 5.3% Zn occurs from 110m, as well as 1.3% Pb and 13.6g/t Ag.

·    Individual peak zinc values in hole MO_GTK_004 are up to 17.6% Zn.

·    Individual peak lead values are up to 3.0% Pb.

·    Individual peak silver values are up to 91.8g/t Ag.

·    These intervals are positioned up-dip from hole MO_GTK_003A, which encountered multiple zinc lodes including 4.85m @ 14.6% Zn and 2.5m @ 11.7% Zn.

·    Zinc/lead/silver mineralisation continues to be encountered in the projected positions as identified from the historical drilling by the Greek Government.

·    Germanium values remain low, suggesting that germanium may be concentrated in a particular part of Molaoi, or controlled by structures or preferential lithology. More drilling is required to determine the precise association between zinc and germanium.

·    The Company will continue to keep the market informed over the coming weeks, with on-going analytical results pending.

A cross section through holes MO_GTK_003 and MO_GTK_004 can be viewed by following this link. http://www.rns-pdf.londonstockexchange.com/rns/5299C_1-2023-6-13.pdf

David Price, Chief Executive Officer of Rockfire, commented:

"It's great to see confirmation of high grade zinc occurring in each hole being drilled by Rockfire. The continuity of zinc mineralisation is being confirmed, and the positioning of the zinc lodes in accordance with those encountered during drilling by the Greek government in the 1980's is being affirmed.

"Zinc grades remain robust. Importantly, the minimum mining width for mechanised mining of 2 metres is still being achieved. This is a critical aspect of mine design and planning for underground extraction.

"These results will help the Company select appropriate mineralized material to be included in planned geotechnical studies. These studies include crushing and grinding work indexes, which will be commissioned within the coming weeks.

"Rockfire is committed to proceeding as quickly as possible towards feasibility. The market will continue to be informed of our progress at Molaoi, including assay results as they are received."

Drill Hole ID	UTM E	UTM N	RL m	Depth m	Azim	Dip
MO_GTK_001	665401.54	4077605.44	151.82	201.80	268	-82
MO_GTK_002	665401.55	4077604.77	153.46	150.00	268	-60
MO_GTK_003A	665383.35	4077494.10	148.13	200.00	268	-85
MO_GTK_004	665383.01	4077493.43	149.57	156.90	268	-60
MO_GTK_005	665361.97	4077667.27	159.12	122.30	270	-80
MO_GTK_006	665360.59	4077669.68	159.04	99.30	270	-60
MO_GTK_007	665363.95	4077229.68	161.60	152.30	270	-80

For further information on the Company, please visit www.rockfireresources.com or contact the following: 

Rockfire Resources plc:	[e-mail]
David Price, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser & Broker):	Tel: [phone]
John Depasquale / George Payne (Corporate Finance)
Matt Butlin / Kelly Gardner (Sales and Corporate Broking)

Qualified Person Statement

The technical information in this announcement is based on information compiled by Mr David Price, the Chief Executive Officer of Rockfire Resources plc, who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr Price has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a "Qualified Person" in accordance with the AIM Rules Guidance Note for Mining and Oil & Gas Companies. Mr Price consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.

Notes to Editors

Rockfire Resources plc (LON: ROCK) is a gold, base metal and critical mineral exploration company, with a portfolio of gold/copper/silver projects in Queensland Australia and a high-grade zinc/lead/silver/germanium deposit in Greece.

§ The Molaoi deposit in Greece has a JORC resource of 210,000 tonnes of zinc, 39,000 tonnes of lead and 3.5 million ounces of silver, using a 4% Zn cut off.

§ The Plateau deposit in Queensland has a JORC resource of 131,000 ounces of gold and 800,000 ounces of silver, using a 0.5g/t Au cut off. 53,000 of these ounces lie within the top 100m from surface.

§ The Copperhead deposit in Queensland has a JORC resource of 80,000 tonnes of copper, 9,400 tonnes of molybdenum and 1.1 million ounces of silver, using a 0.13% CuEq. cut off.

 

END