REG - Rockfire Resources - Greek Government approve Molaoi environment study

Rockfire ResourcesAnnouncement

20/04/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230420:nRST8134Wa&default-theme=true

RNS Number : 8134W  Rockfire Resources PLC  20 April 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.

 

20 April 2023

Rockfire Resources plc

("Rockfire" or the "Company")

Greek Government approves Molaoi environmental study

Rockfire Resources plc (LON: ROCK), the base metal, gold and critical mineral
exploration company, is delighted to announce that the Company's environmental
study permit at Molaoi has been approved by the Greek Government.

 

Highlights

 

·    The Greek Government has approved an application by Rockfire for
resource definition and step-out drilling for the next 5 years at Molaoi.

 

·    The granting of this permit provides authority for Rockfire to drill
for the next 5 years, although the Company intends to expedite this drilling,
and to complete as much drilling as possible in 2023.

 

·    This decision by the Greek Government has been received in swift time
and is a clear affirmation of the resolve of the Greek Government to
facilitate foreign investment in the mining sector.

 

·    179 drill holes had already been drilled at Molaoi by the Greek
Government, meaning that all future drilling is building confidence in a
deposit which is already well defined.

 

 

David Price, Chief Executive Officer of Rockfire, commented:

"The Greek Government has previously drilled 179 exploration holes at Molaoi,
so Rockfire is not focussed on any further exploration. Our planned drilling
for the remainder of 2023 is designed to upgrade the resource from 'Inferred'
to the 'Measured and Indicated' categories. Once this milestone is achieved,
the Company will move as quickly as possible to complete a feasibility study.
We remain on track to achieve this milestone and the granting of this permit
is a very important step in our development plans. The market will continue to
be informed of progress at Molaoi, including drilling assay results as they
are received."

 

 

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)

 

 

 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCGZGMDVLVGFZM