Molaoi Drilling Update
Summary by AI BETAClose X
25 February 2026
Rockfire Resources plc
("Rockfire" or the "Company")
Molaoi Drilling Update
Rockfire Resources plc (LON: ROCK), the base metal, critical mineral and precious metal exploration company, provides the market with a drilling update from Rockfire's 100%-owned Molaoi zinc deposit in Greece.
Highlights
· Diamond drilling to upgrade the Inferred Resource to Indicated status continues smoothly with the completion of hole HMO-013 at 220.40m. Drilling of hole HMO-014 has commenced.
· The following quoted readings are from a portable X-ray Florescence ("pXRF") machine and do not represent precise geochemical analyses. Geochemical analysis of all anomalous pXRF recordings will be analysed at ALS Laboratories for definitive geochemical content. In all previous drill holes, Rockfire has found good correlation between pXRF readings and actual geochemical analytical results.
· In hole HMO-013, at 140m depth, 39.9% Zn is registering with pXRF, along with 11.6% Zn at 144.26m depth.
· At a depth of 50m, an individual pXRF reading registered 22.0% Zn, whilst at 53.8m depth, the pXRF reading is 9.0% Zn.
· A new development is that copper is starting to become more apparent. Individual pXRF readings of 0.53% Cu, 0.67% Cu, 0.53% Cu, and 0.88% Cu are registering at 68m, 83m, 125m and 144m depth respectively. pXRF readings have returned a peak copper value of 1.03% Cu at 201m depth.
· It is known from metallurgical tests that copper up to 2% reports to a copper/lead/silver concentrate. The highest individual copper grade in historical drilling at Molaoi is a single sample of 2.67% Cu, with the next highest historical assay being 0.58% Cu. Copper results being returned from recent Rockfire drilling are beginning to surpass many of the historical high copper values.
· At a depth of 48.10m, an individual spot pXRF sample recorded a reading of 252ppm Ag. The same reading returned 6.7% Zn and 10.6% Pb. This reading is amongst the highest silver readings achieved at Molaoi. The highest silver analysis recorded at Molaoi is 480ppm Ag in historical hole BG008, with the second highest reading being 286ppm Ag in historical hole AN011.
· Barium has again returned strongly anomalous readings of 19.3% Ba and 17.0% Ba at depths of 52m and 106m respectively. Barium is of interest as this mineral is often associated with low-sulphidation silver/gold epithermal mineralisation. The upper interval at 52m is associated with 39.0ppm Ag from pXRF readings. This interval will be analysed for gold as well.
· The pXRF equipment does not measure germanium values, but germanium will be analysed at the laboratory.
· Assay results from hole HMO-011 are awaited and core from hole HMO-012 has been sent to the laboratory.
· In the absence of a satisfactory timeline for the delivery of a second drilling rig, Rockfire has obtained an initial quote from Athens to acquire its own modern and well-equipped drilling rig. Rockfire has access to highly experienced drillers who could operate the rig and train local drillers on behalf of the Company. The board is considering this alternative, and the market will be updated accordingly.
The cleanliness of the pXRF machine was established by measuring a BLANK reference material (a translucent quartz crystal) at the beginning of each day. A Certified Reference Material (CRM) specific to volcanic-hosted massive sulphide Zn-Pb-Cu-Ag-Au ore (ORES 620) was measured for accuracy/precision of the pXRF machine with a reading taken at the beginning of each day.
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Drill hole location map within the Molaoi Licence.
David Price, Chief Executive Officer of Rockfire, commented:
"Recent drilling (holes HMO-011 to HMO-013) has returned comparatively narrow intervals of mineralisation however, it is important to understand that they are being drilled well to the west and south of most previous drill holes, as shown in the location map above. These holes represent extension drill holes, and we are excited to still be intersecting very high grades of zinc to the west of most of the previous drilling."
"The increase in copper is of interest, particularly with the price of copper still above USD$12,900/tonne. These drill holes are at the southern end of the resource and may represent a different mineralising event. The anomalous barium being encountered in these southern holes may suggest a possible zonation in mineralisation to a more silver/copper/gold zone."
"The high grades of silver and copper being recorded from hole HMO-013 are very pleasing and simply add to the overall economics if these strong intervals can be monetised into production by-product credits in the future. To be achieving pXRF readings of this magnitude is exciting - particularly as these values are amongst the highest values recorded at Molaoi."
"We will continue to update the market with our drilling progress including analytical results from the laboratory as they are received."
For further information on the Company, please visit www.rockfireresources.com or contact the following:
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Rockfire Resources plc |
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David Price, Chief Executive Officer |
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Allenby Capital Limited (Nominated Adviser & Broker): |
Tel: +44 (0) 20 3328 5656 |
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John Depasquale / Ashur Joseph (Corporate Finance) |
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Matt Butlin (Sales and Corporate Broking) |
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CMC Markets UK Plc (Joint Broker) |
Tel: +44 (0)20 3003 8632 |
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Douglas Crippen |
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Oak Securities (Joint Broker) |
Tel: +44 (0) 20 3973 3678 |
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Jerry Keen / Robert Bell |
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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 (F.AusIMM). 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.
Glossary
|
Item |
Definition |
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"3D" |
three dimensional |
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'' Ag'' "Au" |
Silver Gold |
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"Cu" "Ga" |
Copper Gallium |
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'' Ge'' |
Germanium |
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'' g/t'' |
grams per tonne |
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''JORC'' |
Joint Ore Resource Committee |
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"km" |
Kilometre |
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"m" "Ni" |
Metre Nickel |
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'' Pb'' |
Lead |
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"ppm" |
parts per million |
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"pXRF" |
portable X-Ray Florescence |
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"VMS" |
volcanogenic massive sulphide |
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''' Zn'' |
Zinc |
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"ZnEq'' |
zinc equivalent |
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 Inferred Mineral Resource of 15.0 million tonnes @ 7.26% Zn, 1.75% Pb and 39.50g/t Ag, for 1.5 million tonnes of ZnEq. metal. This resource uses a 4% low-grade cut, and equates to 1.09 million tonnes of zinc, 260,000 tonnes of lead and 19.1 million ounces of silver. Molaoi is also reported under the UNFC Code with classification E2, F2.1, G3 for Zn, Ag, and Pb, and E3.2, F3.1, G4.1 for Ge.
· The Plateau deposit in Queensland has a JORC Inferred 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. Plateau is subject to a farm-in by ASX-listed Sunshine Metals Ltd (ASX:SHN).
· The Marengo prospect in Queensland hosts high-grade gold, silver and copper within an historic goldfield, which is entirely under licence by Rockfire. Marengo is subject to a farm-in by ASX-listed Eastern Resources Ltd (ASX:EFE).
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