REG - Rockfire Resources - Survey finds second zinc zone

Rockfire ResourcesAnnouncement

11/02/2025 07:15

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RNS Number : 5788W  Rockfire Resources PLC  11 February 2025

11 February 2025

Rockfire Resources plc

("Rockfire" or the "Company")

Survey finds second zinc zone akin to Molaoi resource

Rockfire Resources plc (LON: ROCK), the base metal, critical mineral and
precious metal exploration company, is pleased to announce that its on-going
portable X-Ray Florescence ("pXRF") soil survey has found a geochemical
anomaly comparable to the surface signature at the main resource area at its
Molaoi zinc deposit in Greece. Being comparable in size to the existing
resource provides a clear target to potentially double the JORC resources at
Molaoi. Further targets are expected to be defined as the pXRF survey
continues.

 

With the expansion of large resource targets, it is now important to
distinguish between mineralised areas for clarity to the reader. The drilled
JORC resource will, from now on, be referred to as "KALAMAKI". The new target
area shall be referred to as "GKAGKANIA" (pronounced "Gakania"), which lies
approximately 600m to the north of Kalamaki.

 

Highlights

 

·     A high-resolution pXRF soil survey using a 50m x 25m grid density has
identified a new, coherent and strong zone of zinc at the Gkagkania prospect
within the Molaoi licence. Our team is reporting high responses of
zinc-in-soil, exceeding 0.15% Zn (+1,500ppm), which is considered very
strongly anomalous.

·     The surface expression of Gkagkania anomaly is approximately 250m x
200m in size. This is comparable to the main zinc resource area, (Kalamaki),
which has a surface signature of 300m x 300m.

·      Historical drilling by the Greek government at Gkagkania includes:

B048 - 6m @ 7.4% Zn

BG011 - 13m @ 8.2% Zn

BG012 - 3.85m @ 16.8% Zn

·     The soil geochemical signature at Kalamaki is slightly more elevated
owing to the amount of soil disturbance during exploration and drilling
activities to define the resource.

·     A tenement-scale pXRF survey has now commenced on a 200m x 25m grid
density to cover the remaining 4km zinc trend, even further to the north of
Gkagkania.

·     Owing to the significantly expanded JORC resource at Kalamaki, many
of our previously planned and permitted drill hole positions have needed to
shift to ensure conversion of resources from Inferred to Indicated. An
application for a new permit for revised drill hole positions has been lodged
with the government and a new drilling permit is awaited. As our proposed
drill holes are in-fill holes only, the process of approval is expected to be
faster than a new application. The market will be informed once this
application has been approved and when drilling will commence.

 

 

David Price, Chief Executive Officer of Rockfire, commented:

"These initial results from the pXRF survey are outstanding, particularly in
the knowledge that more than 4.5km of tenement is yet to be surveyed further
to the north."

 

"Gkagkania is a known zinc prospect with historic workings, including several
old prospecting shafts up to 30m deep. The Greek government has mapped
multiple zinc gossans (zinc protruding to the surface) at Gkagkania and the
pXRF confirms Gkagkania as a high-priority target for future drilling."

 

"Rockfire will continue the pXRF survey to cover the entire licence to
establish how many more of these targets exist. The market will be informed as
our development activities at Molaoi continue.

 

 

 

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)
 Guy McDougall / Kelly Gardiner (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
(F.AusIMM). 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 Mineral Resource of 15.0
million tonnes @ 7.26% Zn, 1.75% Pb and 39.50g/t Ag, for 1.5 million tonnes of
ZnEq. metal. This resource uses a 4% low-grade cut, and equates to 1.09
million tonnes of zinc, 260,000 tonnes of lead and 19.1 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. Plateau is subject to a farm-in
by ASX-listed Sunshine Metals Ltd (ASX:SHN).

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