REG - Rockfire Resources - Molaoi Drilling Update

Rockfire ResourcesAnnouncement

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RNS Number : 3233Q  Rockfire Resources PLC  26 January 2026

26 January 2026

Rockfire Resources plc

("Rockfire" or the "Company")

 

Molaoi Drilling Update

Rockfire Resources plc (LON: ROCK), the base metal, critical mineral and
precious metal exploration company, provides the market with this drilling
update from Rockfire's 100%-owned Molaoi zinc deposit in Greece.

Highlights

·       Diamond drilling to upgrade the Inferred Resource to Indicated
status resumed after the Christmas/New Year break on the 13(th) of January, as
scheduled.

 

·       The fourth drill hole, (HMO-011) has now completed successfully
at a total depth of 250.10m and drilling of the next hole has commenced. Hole
HMO-011 is a hole drilled in the very south of the resource and confirms that
mineralisation continues and remains open towards the south.

 

·       Several narrow, mineralised intervals have been intersected in
hole HMO-011 in line with our expectations from resource modelling. A zone of
1.75m width has returned peak pXRF values of 23.16% Zn, 64ppm Ag, and 2.2% Pb
from 36.3m depth.

 

·       Between 105.00m and 105.65m depth (0.65m), pXRF readings
returned values including 7.87% Zn, 1.2% Pb and 41g/t Ag.

 

·       A noteworthy interval of 0.65m width at 127.60m depth has
intersected a vein of barium with average pXRF readings of 65.6% Ba. Barium is
of particular interest, as this mineral is often associated with
low-sulphidation silver/gold epithermal mineralisation. Importantly, this vein
also hosts an average of 71.66g/t Ag from four pXRF readings. This interval
will be analysed for gold as well.

 

·       pXRF readings are considered preliminary and all the intervals
identified will be comprehensively analysed at ALS Laboratories in Ireland,
including for germanium, which is not measured by the pXRF equipment.

 

·       Assay results from hole HMO-010 are awaited and core from hole
HMO-011 will shortly be sent to the laboratory.

 

·       A Hydrology Study remains in progress to monitor and measure
water quality and quantity prior to mining being undertaken.

 

·       An Ecological Study is in progress to observe and record fauna
and flora surrounding Molaoi prior to any planned mining activity commencing.

 

·       A second rig is still awaited and our drilling contractor,
Geotest Consulting Engineers in Athens continues to advise Rockfire that a
second rig is soon to be provided.

 

The cleanliness of the pXRF machine was established by measuring a BLANK
reference material (a translucent quartz crystal) at the beginning of each
day. A Certified Reference Material (CRM) specific to volcanic-hosted massive
sulphide Zn-Pb-Cu-Ag-Au ore (ORES 620) was measured for accuracy/precision of
the pXRF machine with a reading taken at the beginning of each day.

 

 

 

 

 

 

 

 

 

 

 

David Price, Chief Executive Officer of Rockfire, commented:

"Drilling is progressing well, and it is excellent to see that high grades of
zinc remain present at the southern extremity of the modelled resource. The
portable XRF readings throughout the hole will be confirmed by comprehensive
analysis at the laboratory. In most cases, high zinc values are usually
accompanied by high germanium values."

"The presence of extremely high-grade barium is encouraging for the evolving
geological model being adopted as we learn more about the Molaoi deposit.
Lithofacies modelling and laser ablation studies have both suggested that
Molaoi is likely to comprise an epithermal overprint of a VMS origin. Narrow
veins of elevated copper being encountered by pXRF readings in hole HMO-011 at
188.50m (0.94% Cu) and at 249.00m (0.52% Cu) support this theory."

"SLR Consulting (formerly Wardell Armstrong) has been commissioned to assist
tracking the current drilling program effectiveness. SLR has developed a more
conservative mineralisation model which is also strongly supportive of an
epithermal component to the mineralisation at Molaoi."

"It is expected that drilling will continue throughout much of this calendar
year. Work remains ongoing for a Hydrology Study and an Ecological Study which
are both required for any future feasibility study. Quotes are also being
sought to commission a ground or aeromagnetic survey over the entire licence
area.

"We will continue to update the market with our progress including analytical
results from the laboratory as they are received."

 

 

 

For further information on the Company, please
visit www.rockfireresources.com (http://www.rockfireresources.com/)  or
contact the following:

 

 Rockfire Resources plc                                      E-mail: 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 / Ashur Joseph (Corporate Finance)
 Matt Butlin (Sales and Corporate Broking)

 CMC Markets UK Plc (Joint Broker)                           Tel: +44 (0)20 3003 8632
 Douglas Crippen

 Oak Securities (Joint Broker)                               Tel: +44 (0) 20 3973 3678
 Jerry Keen / Robert Bell

 

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.

Glossary

 Item      Definition
 "3D"      three dimensional
 '' Ag''   Silver

 "Au"      Gold
 "Cu"      Copper

 "Ga"      Gallium
 '' Ge''   Germanium
 '' g/t''  grams per tonne
 ''JORC''  Joint Ore Resource Committee
 "km"      Kilometre
 "m"       Metre

 "Ni"      Nickel
 '' Pb''   Lead
 "ppm"     parts per million
 "pXRF"    portable X-Ray Florescence
 "VMS"     volcanogenic massive sulphide
 ''' Zn''  Zinc
 "ZnEq''   zinc equivalent

 

 

 

 

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 Inferred
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).

 

·      The Marengo prospect in Queensland hosts high-grade gold,
silver and copper within an historic goldfield, which is entirely under
licence by Rockfire. Marengo is subject to a farm-in by ASX-listed Eastern
Resources Ltd (ASX:EFE).

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