Molaoi drilling continues to deliver

Rockfire Resources PLC

19 July 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.

19 July 2023

Rockfire Resources plc

("Rockfire" or the "Company")

Molaoi drilling continues to deliver

Rockfire Resources plc (LON: ROCK), the base metal, gold and critical mineral exploration company, is pleased to announce that the Company's fifth drill hole, as part of its geotechnical drilling programme at its 100%-owned Molaoi zinc deposit in Greece, has encountered yet more high-grade zinc, silver and lead.

Highlights

·    Two distinct, high-grade zinc lodes have been intersected in Rockfire's fifth drill hole (MO_GTK_005).

·    Drill hole MO_GTK_005 is positioned approximately 50m north of the previous Rockfire holes and infills historical drilling.

·    Individual peak zinc values in are up to 29.8% Zn.

·    Individual peak lead values are up to 3.3% Pb.

·    Individual peak silver values are up to 204.0g/t Ag.

·    An upper lode of 2.40m @ 5.5% ZnEq. occurs from 81m (4.7% Zn, 21.9g/t Ag, 0.9% Pb)

·    A main lode, comprising 3.5m @ 7.3% ZnEq., occurs within a broader zone of 3.96m @ 6.6% ZnEq., starting from 87.94m. Within this main lode, a high-grade core of 1.4m @ 12.6% ZnEq. (11.3% Zn, 77.8g/t Ag, 1.5% Pb) occurs.

·    Intervals exceeding the minimum underground mechanised mining width of 2m continue to be intersected.

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

Please refer to the extract below for the location of Rockfire's drilling in relation to historical drill holes.

David Price, Chief Executive Officer of Rockfire, commented:

"Molaoi continues to deliver high-grades with each hole drilled. The predicted position and depth of the zinc lodes continues to prove our geological model is correct and the grades of zinc mineralisation are outperforming our expectations.

"The market will continue to be informed of our progress at Molaoi, including assay results from our remaining two holes, 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 high-grade zinc/lead/silver/germanium deposit in Greece and a portfolio of gold/copper/silver projects in Queensland Australia.

§ 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