REG - Rockfire Resources - Drilling commences at Molaoi

Rockfire ResourcesAnnouncement

13/10/2023 07:00

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RNS Number : 9932P  Rockfire Resources PLC  13 October 2023

 

13 October 2023

Rockfire Resources plc

("Rockfire" or the "Company")

Drilling commences at Molaoi

Rockfire Resources plc (LON: ROCK), the base metal, gold, and critical mineral
exploration company, is pleased to announce that the Company has commenced
drilling at its 100%-owned Molaoi zinc deposit in Greece.

 

This drilling programme, consisting of 5 holes, is designed to replicate
several historical drill holes to establish a high confidence in the
positioning of the historical drill holes. This increased confidence in the
positioning of historical holes is expected to enable our Inferred Resources
to convert to Indicated Resources, which can then be used in our planned
Feasibility Studies.

 

It is important to understand that this round of drilling is not designed to
increase the resources, rather, it is designed to provide confidence in the
conversion to Indicated Resources. Rockfire's current Inferred Resource cannot
be used in Feasibility Studies in accordance with the JORC Code for Reporting.
Any Feasibility Study requires Indicated Resources, and Rockfire is
establishing the pathway to a Feasibility Study at Molaoi, which is planned
for 2024.

 

Although the trading of Rockfire shares is currently under suspension, the
company will be releasing drilling results from Molaoi.

 

For further information on the Company, please visit  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 Gardiner (Sales and Corporate Broking)

 

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.

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