REG - Rockfire Resources - Maiden drilling underway at Molaoi

Rockfire ResourcesAnnouncement

21/11/2022 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221121:nRSU0378Ha&default-theme=true

RNS Number : 0378H  Rockfire Resources PLC  21 November 2022

21 November 2022

Rockfire Resources plc

("Rockfire" or the "Company")

Maiden drilling underway at Molaoi

Rockfire Resources plc (LON: ROCK), the base metal and critical mineral
exploration company, is pleased to announce that drilling is now in progress
at its 100%-owned Molaoi zinc/silver/lead/germanium deposit in Greece
("Molaoi").

 

Highlights

·    Diamond drilling has commenced at Molaoi

 

·    An initial 4 holes (for a total of 840m) will be drilled within the
main mineral resource of 2.3Mt @ 11% zinc equivalent. 173 diamond holes have
been drilled at Molaoi, as well as metallurgical tests, a feasibility study
and the development of a 700m-long exploration decline.

 

·    These initial geotechnical holes are expected to be followed by more
holes to gather geotechnical information throughout the 1.5km of the resource
and beyond.

 

·    The average depth of drilling is 210m deep, with the deepest hole
planned to reach 270m below surface.

 

·    The first holes are designed to provide the following analytical and
geotechnical outcomes:

 

o  Confirmatory analysis to ensure correlation with previous assay results

o  To gather geotechnical orientation and structural data to refine the
interpretation of the orebody at Molaoi

o  To obtain core for UCS compressive strength tests. These tests inform our
mining engineers of rock strengths when loads are applied/reduced in an actual
mining scenario

o  To obtain sufficient core for crushing and grinding work indices. These
tests determine the energy (and therefore cost) of crushing and grinding the
ore to a powder and will form a key component of a feasibility study into the
economics of the project

 

 

David Price, Chief Executive Officer of Rockfire, commented:

"Management is delighted that drilling has now commenced. The achievement of
our team in Greece is remarkable. Since winning the international tender for
Molaoi in March this year, our talented team in Greece has applied for (and
been granted) initial drilling permits, has located and unearthed the portal
to the underground mine, and has prepared for and executed a seamless start to
drilling.

"We are optimistic for our maiden drilling campaign and continue to forge
ahead towards early production. As part of the process to reach commercial
extraction, the geotechnical tests for which this core will be used, form a
critical stepping-stone on the path to feasibility.

"The market will be informed regularly as our drilling programme progresses.
Assay results will be released as each hole is delivered to the lab and all
samples analysed. Drilling is expected to be continuous, with further drilling
already being planned for the new year."

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
 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)

 Drill hole information for planned drilling programme

             UTM E       UTM N       RL m        Depth m     Dip
             665403.76   4077573.72  156.45      270.00      -90.00
             665403.76   4077573.72  156.45      150.00      -60.00
             665366.86   4077481.00  159.00      200.00      -90.00
             665366.86   4077481.00  159.00      220.00      -65.00

 

Notes to Editors

Rockfire Resources plc (LON: ROCK) is a base metal and critical mineral
exploration company, with a portfolio of 100%-owned 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.

 

§ The Plateau deposit in Queensland has a JORC resource of 130,000 ounces of
gold and 800,000 ounces of silver.

 

§ 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.

 

 

 

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  UPDBKDBDOBDKBDB