REG - Rockfire Resources - Molaoi Drilling Update

Rockfire ResourcesAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260511:nRSK7629Da&default-theme=true

RNS Number : 7629D  Rockfire Resources PLC  11 May 2026

 

11 May 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 a drilling update
from Rockfire's 100%-owned Molaoi zinc deposit in Greece.

Highlights

·      Diamond drilling to upgrade the Inferred Resource to Indicated
Resource status continues with hole HMO-016 successfully completed and
drilling of hole HMO-017 currently in progress.

 

·      Several narrow, but strong zones of mineralisation have been
encountered in hole HMO-016 based on portable X-Ray Florescence ("pXRF")
readings of drill core.

 

·      An individual pXRF reading of 54.3% Zn has been recorded at
314.5m downhole depth. This represents the second-highest grade of zinc ever
encountered at Molaoi, with the highest being 62.0% in historical hole B027 at
a depth of 53m.

 

·      In the same narrow zone at 314.5m downhole depth, other
note-worthy pXRF readings include 39.9% Zn, 35.8% Zn and 27.0% Zn.

 

·      Also, at 314.5m downhole depth, pXRF values up to 31.8% Pb and
24.2% Pb have been recorded, as well as 470g/t Ag and 382g/t Ag.

 

·      At a depth of 407m downhole, another narrow zone of
mineralisation was intersected. This intersection has returned individual,
spot pXRF results including 12.4% Zn, 13.0% Zn, 12.2% Zn and 10.6% Zn. This
zone also hosts high grade silver, with average pXRF values from all readings
taken in this interval of 44.8g/t Ag.

 

·      Individual pXRF readings of 18.2% Zn, 13.9% Zn and 10.4% Zn occur
at 418m downhole depth.

 

·      The last intersection occurs at 422m downhole, where pXRF
readings include 13.9% Zn, 9.7% Zn and 6.6% Zn. This zone includes individual
pXRF readings up to 118g/t Ag and 3.6% Pb.

 

·      At a downhole depth of 424m, an individual pXRF reading of 0.88%
Cu has been recorded.

 

·      The pXRF machine only provides a guide to the strength of
mineralisation and does not detect germanium. The core is routinely analysed
for germanium at the laboratory.

 

·       Core samples from hole HMO-016 have been sent to the laboratory
for analysis and analytical results from hole HMO-015 are still awaited.

 

The cleanliness of the pXRF machine is 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) is measured for accuracy/precision of
the pXRF machine with a reading taken at the beginning of each day.

 

 Hole     UTM      UTM     Dip   Azimuth  Final
 Number   North    East    (º)   (º)      Depth (m)
 HMO-008  4077814  665539  -80   270      289.00
 HMO-009  4077538  665426  -60   270      75.00
 HMO-010  4077142  665454  -80   270      275.80
 HMO-011  4076975  665432  -60   270      250.10
 HMO-012  4077039  665379  -60   270      253.80
 HMO-013  4077100  665348  -60   270      220.40
 HMO-014  4077678  665600  -70   272      195.80
 HMO-015  4078025  665486  -80   270      390.80
 HMO-016  4078189  665462  -77   270      441.30
 HMO-017  4078090  665462  -70   270      In progress

                                 TOTAL    2,392.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Map showing the location of drill holes at Molaoi

 

David Price, Chief Executive Officer of Rockfire, commented:

"We are pleased with the improvement in progress speed being made with our
drilling program to upgrade the resource from Inferred to Indicated category.
In our efforts to speed progress further, a brand new Rockfire-owned drilling
rig has been ordered, and a deposit has been paid. As this is a new build, we
anticipate delivery of the rig into Athens by the end of October this year."

"Holes HMO-015 and HMO-016 are both successful and encouraging drill holes.
Based on the preliminary pXRF readings, zinc, silver and lead are all strong
in this central zone beneath a prominent ridge called 'Vigla Hill". We expect
that germanium will also be detected during the analysis of these holes."

"As we drill more holes and learn more about the mineralisation, it is
becoming apparent that the main zone of mineralisation could be steepening
from an average dip of -60° to the east, to almost vertical when we encounter
the mineralisation at depth. This could reflect a "feeder zone" which has not
been detected yet at Molaoi. A feeder zone is typically the central vent from
which heated mineralised fluids are intruded into the surrounding rocks. Such
feeder zones are often characterised by average higher grades."

"If the mineralisation is indeed steepening at depth, this will likely result
in easier, safer and more cost-effective underground mining. The market will
continue to be informed and updated as new information and results come to
hand."

 

 

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. Molaoi is also reported under the UNFC Code with
classification E2, F2.1, G3 for Zn, Ag, and Pb, and E3.2, F3.1, G4.1 for Ge.

 

·      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).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUROURNAUVAUR



            Copyright 2019 Regulatory News Service, all rights reserved