Rockfire Resources PLC (LON: ROCK) has reported further high-grade drilling results from the Molaoi deposit in Greece, extending mineralisation below the existing resource.
Drill hole HMO-019 returned 3.30 metres grading 18.9% zinc, 37.2 grams per tonne silver and 25.0g/t germanium.
The hole also intersected 0.10 metres at 27.8% zinc and 84.1g/t germanium, alongside several additional zones containing zinc, silver and germanium.
Rockfire said HMO-019 intersected mineralisation around 50 metres below the previous hole, HMO-018, providing further evidence that the deposit remains open at depth.
Chief executive David Price said the grades were stronger than those recorded in the previous hole and may indicate increasing grade with depth, although further drilling will be required to confirm the trend.
The drilling programme is designed to upgrade Molaoi’s inferred mineral resource to the indicated category as part of a planned feasibility study into the potential extraction of zinc, silver, germanium and lead.
Drilling is continuing, with HMO-021 currently underway and assay results from HMO-020 still pending.
Rockfire also confirmed that its new drilling rig remains on schedule to arrive in Athens in late September or early October.
The company said it is accelerating several technical workstreams associated with the Molaoi feasibility study.
