REG - Rockfire Resources - Drill result support continuity of grade at Molaoi

Rockfire ResourcesAnnouncement

13/06/2023 08:00

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RNS Number : 5299C  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
(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 (http://www.rockfireresources.com/)  or
contact the following:

 

 Rockfire Resources plc:                                    info@rockfire.co.uk (mailto:info@rockfire.co.uk)
 David Price, Chief Executive Officer

 Allenby Capital Limited (Nominated Adviser & Broker):      Tel: +44 (0) 20 3328 5656
 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.

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