REG - Rockfire Resources - Further high-grade drill results from Molaoi

Rockfire ResourcesAnnouncement

01/08/2023 07:00

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RNS Number : 8062H  Rockfire Resources PLC  01 August 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.

 

1 August 2023

Rockfire Resources plc

("Rockfire" or the "Company")

Further high-grade drill results from Molaoi

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

 

Highlights

 

·    Hole MO_GTK_006 has intersected an excellent interval of 3.3m @ 22.1%
ZnEq. (17.1% Zn, 1.9% Pb and 100.4g/t Ag).

 

·    The interval quoted above lies within a broader interval of 5.8m @
13.6% ZnEq. (10.5% Zn, 1.2% Pb and 61.1g/t Ag), which commences at 75.20m
depth.

 

·    The highest individual assay is just under 1m wide (0.94m), and
grades 34.0% Zn, 4.1% Pb and 252.0g/t Ag.

 

·    Hole MO_GTK_007 was terminated early due to badly fractured and
broken ground, but did intersect the uppermost lode, which returned 1.95m @
3.0% ZnEq. It is expected that this hole will be redrilled later to intersect
the main lode deeper.

 

·    This drilling was designed to obtain a sufficiently large sample for
geotechnical test work, including crushing and grinding tests. MO_GTK_007 has
intersected zinc 300m south of previous Rockfire drilling and assists with
targeting more zinc at this location.

 

·    Rockfire will continue to keep the market informed of exploration
activity planned at Molaoi over the coming weeks.

 

Please refer to the link provided for the location of Rockfire's drilling in
relation to historical drill holes.

[Insert link].

 

 

David Price, Chief Executive Officer of Rockfire, commented:

"These drilling results continue to demonstrate the quality of the Molaoi
zinc/lead/silver deposit. Our drilling is designed to obtain sufficient sample
volume for crushing and grinding work index studies. Whilst achieving this
principal goal, this drilling continues to confirm and infill 179 historical
drillholes which were drilled at Molaoi in the 1980's.

 

"The robust nature of the mineralisation is evident, and potentially economic
grades and potentially mineable widths continue to be intersected in every
drill hole. The Board believes that Molaoi can assist the alternative energy
demand and high technology future in Europe."

 

"The market will continue to be regularly informed of our progress at Molaoi,
including the timing for commencement of our main drill infill programme and
further geotechnical drilling."

 

 

 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

 

 

Zinc Equivalent
formula:                               Zn % + Pb
%*0.875+Ag ppm*.0338

 

 

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 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 Resource of 2.3 million
tonnes @ 11 % ZnEq. for 250,000 tonnes of ZnEq. This resource uses a 4%
low-grade cut, with individual elemental grades of 9.4 % Zn, 1.7 % Pb and 47
g/t Ag. This equates to 210,000 tonnes of zinc, 39,000 tonnes of lead and 3.5
million ounces of silver.

 

§ 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.

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