REG - Rockfire Resources - Molaoi old workings return high grades

Rockfire ResourcesAnnouncement

28/11/2022 07:00

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RNS Number : 6976H  Rockfire Resources PLC  28 November 2022

28 November 2022

Rockfire Resources plc

("Rockfire" or the "Company")

Molaoi old workings return high grades

Rockfire Resources plc (LON: ROCK), the base metal and critical mineral
exploration company, has received high grade results from rock samples taken
from historic mullock (waste) dumps and surface outcrops at its 100%-owned
Molaoi zinc/silver/lead/germanium deposit in Greece ("Molaoi").

 

Highlights

 

·    Zinc up to 25% Zn, lead up to 16.8% Pb and silver up to 498g/t Ag
have been sampled in rocks from waste dumps and outcrop around old mine
workings. See the attached map showing the location of all prospects
comprising the Molaoi Project.

 

·    Highest results obtained are from the "Kalamaki" prospect, where a
JORC resource of 2.3Mt @ 9.4% Zn, 1.7% Pb and 47g/t Ag is located. Rockfire is
currently drilling in the Kalamaki area.

 

·    9.3% Zn has been found in old workings at the "Fournos" prospect,
approximately 1.5km north of the JORC mineral resource. Previous drilling by
the Greek government has encountered 3m @ 8.4% Zn in diamond drill core at
Fournos.

 

·    15.8% Zn has been found in old workings at the "Mesovouni" prospect,
approximately 1.0km northwest of the JORC resource. Previous drilling by the
Greek government has encountered 3m @ 6.7% Zn in diamond drill core at
Mesovouni.

 

·    8.7% Zn, 5.2% Pb and 161g/t Ag has been found in outcrop to the north
of the "Gkagkania" prospect, approximately 1.5km northwest of the JORC
resource. Previous drilling by the Greek government has encountered 7m @ 10.2%
Zn in diamond drill core at Gkagkania.

 

·    Germanium values are low, due to strong weathering of the rocks.
Germanium is heavily leached from weathered rocks.

 

·    Geotechnical drilling at the main resource area of Kalamaki is
progressing well.

 

 

A plan showing the location of prospects can be viewed by following the link
provided here.
http://www.rns-pdf.londonstockexchange.com/rns/6976H_1-2022-11-27.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/6976H_1-2022-11-27.pdf) .

 

 

David Price, Chief Executive Officer of Rockfire, commented:

"These rocks have returned very good results. Being from the spoils (waste)
around the opening of old workings, it is testimony to the high grades of
zinc, lead and silver encountered during historical mining.

"Several high-grade results were obtained from outcrops with no historical
mining. This emphasises the quality of targets to the north and northwest of
the main resource area. Some of these targets have been drilled previously by
the Greek government and encountered high-grade zinc, lead and silver in
drilling.

"Our inaugural geotechnical drilling is underway at Molaoi and progressing
very well. The market will be informed regularly as our drilling programme
progresses"

 

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)

 

 SAMPLE       Ag             Cu             Pb             Zn
 DESCRIPTION  All assays are ppm unless indicated in percent (%)
 HMORS001     1.3            10             84             4.9%
 HMORS002     1.4            16             69             4.2%
 HMORS003     0.6            808            121            2.3%
 HMORS004     1.9            22             430            3.9%
 HMORS005     0.5            7              67             2.2%
 HMORS006     0.8            13             84             9.3%
 HMORS007     0.1            7              42             317
 HMORS008     0.1            4              2              313
 HMORS009     24.6           891            8340           1425
 HMORS010     65.3           618            4.7%           1.4%
 HMORS011     498.0          692            16.8%          1.2%
 HMORS012     38.5           150            9120           25%
 HMORS013     54.1           142            6820           8450
 HMORS014     45.8           59             2510           7.6%
 HMORS015     18.2           19             5260           4470
 HMORS016     76.6           120            8020           8%
 HMORS017     105.0          84             7830           6.8%
 HMORS018     162.0          1470           7.2%           15.8%
 HMORS019     41.3           192            1395           1435
 HMORS020     2.8            117            1540           761
 HMORS021     2.2            136            401            306
 HMORS022     161.0          1675           2.5%           8.7%
 HMORS023     121.0          1045           5.2%           2610
 HMORS024     78.1           503            8780           1270
 HMORS025     29.2           348            3430           853
 HMORS026     16.8           939            1045           4.4%
 HMORS027     19.4           98             2580           1.7%
 HMORS028     0.1            4              18.7           238

 

 

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 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.

 

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