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 Resource status continues with drilling of hole HMO-015 going well and currently in progress.
· Results from several holes have recently been received from the laboratory.
· Rockfire is pleased to announce that strong germanium grades continue to be intersected all the way through the southern zones of the resource area.
Hole HMO-012 (south and west extension drill hole – see map below)
· A zone 2m wide was encountered at 67.23m depth which assays 4.3% Zn, 20.5g/t Ge and 23.7g/t Ag. This zone includes 0.75m @ 8.9% Zn and 30.1g/t Ge.
· A 1m wide zone at 76m depth has returned 59.0g/t Ag and 0.2% Cu.
· A narrow (0.15m) interval at 119.85m depth has intersected 1.7% Cu, which is the second-highest copper value ever recorded at Molaoi.
· Copper tends to become stronger towards the central “feeder zone” of VMS deposits and can act as a vector towards the source of the deposit-wide mineralisation.
Hole HMO-013 (south and west extension drill hole – see map below)
· A 1.2m wide zone grading 32.2ppm Ag, 1.2% Pb, 4.86% Zn and 17.9g/t Ge. This zone occurs at 47.0m depth.
Hole HMO-014
· Hole HMO-014 encountered slow and difficult drilling conditions. This hole had a target depth of more than 380m but was suspended at 195.80m due to caving of the hole and will be re-drilled later. Despite this, the hole has intersected individual spot pXRF values including 13.86% Zn, 7.5% Pb and 66ppm Ag at a depth of 172m, which is well above the anticipated zone of mineralisation below 350m depth.
· It is confirmed by analysis that there is no gold in holes HMO-012 or HMO-013 associated with the high barium values.
· A break in drilling activities will occur for the Orthodox Easter celebrations. As some of the drilling contractors will travel home throughout Europe for Easter, drilling is expected to recommence on the 20th of April 2026.
· The Rockfire Board has committed to the acquisition of the Company’s own drilling rig. This cost will be met from existing cash reserves, and no additional raising will be required to finalise this acquisition.
The cleanliness of the pXRF machine is 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.
 |
Drill hole location map within the Molaoi Licence.
David Price, Chief Executive Officer of Rockfire, commented:
“The southern part of the licence continues to intersect narrow, but strong zinc and germanium grades. This is very encouraging given the proximity to the Agios Efstratios zinc prospect at the southern extremity of the licence, where historical drilling encountered grades up to 27.3% Zn over half a metre wide. During drilling in the 1980’s, germanium was not analysed, so it is very exciting to discover that germanium mineralisation continues all the way through this southern area at potentially economic grades.”
“The copper grades being encountered are becoming more frequent. This is likely to lead to a vectoring towards the enriched core of the mineralisation, which has not yet been discovered. VMS deposits, even when over-printed by later epithermal mineralisation stem from a central volcanic vent. This central vent is typically characterised by higher copper values and Rockfire will use the copper values being collected from drilling to help vector towards discovering the core of the mineralisation.”
“An expert in drilling through unstable, friable ground has visited site and has made several recommendations which may assist drilling through the broken ground being encountered above the orebody.”
“In the absence of a second drilling rig being provided by our contractor in Athens, the Rockfire board has committed to buying Rockfire its own brand-new drilling rig. The cost of this acquisition will be met from existing cash reserves, and no additional raising will be necessary to meet this cost. It is expected that the Company’s drilling costs will reduce, allowing for more metres drilled within the existing budget.”
“In the meantime, our drilling campaign continues. As we pursue the drill-out of the resource, we will continue to update the market with our drilling progress including analytical results from the laboratory as they are received and interpreted.”
For further information on the Company, please visit www.rockfireresources.com or contact the following:
|
Rockfire Resources plc |
|
|
David Price, Chief Executive Officer |
