REG - Rockfire Resources - Molaoi drilling continues to deliver

Rockfire ResourcesAnnouncement

19/07/2023 08:45

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RNS Number : 5053G  Rockfire Resources PLC  19 July 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.

 

19 July 2023

Rockfire Resources plc

("Rockfire" or the "Company")

Molaoi drilling continues to deliver

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

 

Highlights

 

·    Two distinct, high-grade zinc lodes have been intersected in
Rockfire's fifth drill hole (MO_GTK_005).

 

·    Drill hole MO_GTK_005 is positioned approximately 50m north of the
previous Rockfire holes and infills historical drilling.

 

·    Individual peak zinc values in are up to 29.8% Zn.

 

·    Individual peak lead values are up to 3.3% Pb.

 

·    Individual peak silver values are up to 204.0g/t Ag.

 

·    An upper lode of 2.40m @ 5.5% ZnEq. occurs from 81m (4.7% Zn, 21.9g/t
Ag, 0.9% Pb)

 

·    A main lode, comprising 3.5m @ 7.3% ZnEq., occurs within a broader
zone of 3.96m @ 6.6% ZnEq., starting from 87.94m. Within this main lode, a
high-grade core of 1.4m @ 12.6% ZnEq. (11.3% Zn, 77.8g/t Ag, 1.5% Pb) occurs.

 

·    Intervals exceeding the minimum underground mechanised mining width
of 2m continue to be intersected.

 

·    The Company will continue to keep the market informed over the coming
weeks, with on-going analytical results pending.

 

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

 

 

David Price, Chief Executive Officer of Rockfire, commented:

"Molaoi continues to deliver high-grades with each hole drilled. The predicted
position and depth of the zinc lodes continues to prove our geological model
is correct and the grades of zinc mineralisation are outperforming our
expectations.

 

"The market will continue to be informed of our progress at Molaoi, including
assay results from our remaining two holes, 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 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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