REG - Rockfire Resources - Zinc added to UK Critical Mineral List

Rockfire ResourcesAnnouncement

05/12/2024 08:30

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RNS Number : 9516O  Rockfire Resources PLC  05 December 2024

5 December 2024

Rockfire Resources plc

("Rockfire" or the "Company")

Zinc added to UK Critical Mineral List

 

Rockfire Resources plc (LON: ROCK), the base metal, precious metal, and
critical mineral exploration company, wishes to inform the market that the
United Kingdom Critical Minerals Intelligence Centre has added zinc to its
official list of minerals which are in critical short supply. The UK Critical
Minerals Intelligence Centre is a collaboration between the UK Department of
Business & Trade and the British Geological Survey.

 

Zinc being added to the UK critical minerals list is likely to have a highly
significant positive impact on the Company's 100%-owned Molaoi zinc project in
Greece, which hosts over 1 million tonnes of zinc metal and is ranked among
the top 20 undeveloped zinc deposits globally.

 

Zinc is also included on the US, Canadian and Korean critical mineral lists.
There are risks to the supply of zinc based on refining and concentration and
the UK has a high dependence on zinc importation.

 

 

 

Zinc is primarily used for galvanising and protecting steel against rusting.
Owing to the number of applications for protection again rusting, zinc is
globally important to the automotive, marine, manufacturing, industrial,
agricultural, construction and aviation industries.

 

Corrosion of steel costs US$2.5 trillion each year, which represents 3.4% of
global GDP. (impact.nace.org/economic-impact.aspx
(http://impact.nace.org/economic-impact.aspx) ) Zinc is also used to protect
wind turbines and solar cells from the elements.

 

Zinc is essential for many day-to-day applications, including being an
ingredient in many brands of soap, shampoo, paint, toothpaste, health
supplements, insect repellent, rubber, ink, cosmetics and pharmaceuticals.

 

Molaoi is a developing project in Greece to help Europe meet its ambitions for
a domestic supply of critical raw materials, including zinc and the
geologically rare mineral, germanium.

 

David Price, Chief Executive Officer of Rockfire, commented:

"The addition of zinc to the UK critical mineral list is wonderful news for
Rockfire and validates our strategy to secure globally important deposits of
minerals and metals which are and will become critical for the maintenance of
civilisation."

 

"Rockfire now has zinc, copper, germanium and molybdenum assets, all of which
are listed as critical in many jurisdictions. Our work will continue towards
development of Molaoi, as well as expanding the already-large resource towards
the north. Rockfire's management believes that the resource of zinc at Molaoi
is capable of significant upside."

 

"The Molaoi project in Greece is within a respected, highly prospective and
mining-friendly jurisdiction. It is testimony to the Greek government's
commitment to attract and facilitate inward investment into Greece and the
government has been strongly supportive of our activities."

 

"We will continue to update the market as our exploration and development
efforts 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)

 

 

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
million tonnes @ 7.26 % Zn, 1.75 % Pb and 39.5 g/t Ag, for 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 Inferred resource of 131,300
ounces of gold and 800,000 ounces of silver. Plateau is subject to a joint
venture with ASX-listed Sunshine Metals Ltd (ASX:SHN).

 

The Copperhead porphyry 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.

 

Glossary

 

 Item                                                                           Definition
 '' Ag''                                                                        silver
 ''Ga''                                                                         gallium
 '' Ge''                                                                        germanium
 '' g/t''                                                                       grams per tonne
 ''JORC''                                                                       Joint Ore Resource Committee
 '' Pb''                                                                        lead
 "Ppm"                                                                          parts per million
 ''' Zn''                                                                       zinc
 "ZnEq''                                                                        zinc equivalent

 

 

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.

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