TIDMROCK
RNS Number : 7959A
Rockfire Resources PLC
26 May 2023
The information contained within this announcement is deemed by
the Company to constitute inside information pursuant to Article 7
of EU Regulation 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 as amended .
26 May 2023
Rockfire Resources plc
("Rockfire" or the "Company")
Record-breaking zinc grades from drilling at Molaoi
Rockfire Resources plc (LON: ROCK), the base metal, gold and
critical mineral exploration company, is pleased to announce that
the Company's geotechnical drilling programme at the Molaoi zinc
deposit in Greece has intersected the highest zinc grades ever
encountered at Molaoi.
Highlights
-- An interval of 0.2m grading 50.8% Zn has been returned from
drill hole MO_GTK_003A at 142.7m depth. This result is immediately
followed by an interval of 0.7m grading 43.2% Zn.
-- This lens of record-breaking grade averages 36% ZnEq. over a
1.42m total length (127.5g/t Ag, 2.7% Pb, 33.6% Zn) and represents
the highest grades encountered at Molaoi so far, from 180 drill
holes already drilled.
-- The interval quoted above, occurs within a broader,
high-grade zone of 4.85m @ 14.6% ZnEq. (58.3g/t Ag, 1.9%Pb, 12.97%
Zn).
-- A lower, footwall lode was encountered from 150.5m depth,
which grades 11.7% ZnEq. over a width of 2.5m (49.1g/t Ag, 1.6% Pb,
10.2% Zn).
-- MO_GTK_003A has a continuous zinc lode interval of 11.3m @
9.2% ZnEq. commencing from 141.7m depth (37.3g/t Ag, 1.2%Pb 8.1%
Zn).
-- Individual peak silver values are up to 158g/t Ag.
-- Individual peak lead values are up to 3.7% Pb.
-- MO_GTK_003A was drilled halfway between historical drill
holes and proves the continuity of zinc mineralisation. These assay
results suggest that when infill drilling commences, the overall
average grade of the deposit may increase. 180 diamond drill holes
have been drilled at Molaoi.
-- Zinc/lead/silver mineralisation continues to be encountered
in the projected positions as identified from the historical
drilling by the Greek Government.
-- Germanium values remain low, suggesting that germanium may be
concentrated in a particular part of the resource, or controlled by
structures or preferential lithology. More drilling is required to
determine the precise association between zinc and germanium.
-- The geotechnical drilling programme has concluded for now and
assay results are awaited for the remaining four holes completed.
Core from the fourth drill hole has been sent to the
laboratory.
-- The Company will continue to keep the market informed over
the coming months, with on-going analytical results pending.
David Price, Chief Executive Officer of Rockfire, commented:
"These spectacular assay results highlight the quality of the
Molaoi deposit. Results from our geotechnical drilling continue to
confirm the continuity of mineralisation throughout the length of
the deposit. As holes are being drilled between historical holes,
the high grades being encountered may enhance the overall average
grade of the resource.
"Rockfire is committed to proceeding as quickly as possible
towards a resource upgrade and to commence feasibility studies at
the commencement of 2024. The market will continue to be informed
of our very successful progress at Molaoi, including assay results
as they are received and the advancement of our geotechnical
studies."
Drill Hole RL Depth
ID UTM E UTM N m m Azim Dip
------------- ---------- ----------- ------- ------- ----- ----
MO_GTK_001 665401.54 4077605.44 151.82 201.80 268 -82
MO_GTK_002 665401.55 4077604.77 153.46 150.00 268 -60
MO_GTK_003A 665383.35 4077494.10 148.13 200.00 268 -85
MO_GTK_004 665383.01 4077493.43 149.57 156.90 268 -60
MO_GTK_005 665361.97 4077667.27 159.12 122.30 270 -80
MO_GTK_006 665360.59 4077669.68 159.04 99.30 270 -60
MO_GTK_007 665363.95 4077229.68 161.60 152.30 270 -80
For further information on the Company, please visit
www.rockfireresources.com or contact the following:
Rockfire Resources plc : info@rockfire.co.uk
David Price, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser Tel: +44 (0) 20
& Broker): 3328 5656
John Depasquale / George Payne (Corporate
Finance)
Matt Butlin / Kelly Gardner (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 (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 gold, base metal and
critical mineral exploration company, with a portfolio of
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, using a 4% Zn cut off.
-- 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.
-- 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, using a 0.13% CuEq. cut off.
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END
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May 26, 2023 03:19 ET (07:19 GMT)
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