TIDMROCK
RNS Number : 4830N
Rockfire Resources PLC
23 January 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 .
23 January 2023
Rockfire Resources plc
("Rockfire" or the "Company")
Drill assays reinforce quality of Molaoi zinc deposit
Rockfire Resources plc (LON: ROCK), the base metal, gold and
critical mineral exploration company, is pleased to announce that
results from the Company's geotechnical drilling programme at the
Molaoi zinc deposit in Greece include multiple, high-grade
intersections, which demonstrates the quality of the Molaoi
deposit.
Confirmation of multiple lodes provides opportunity to
significantly increase tonnage and potentially have a considerable
positive impact on the future economics of the project.
Highlights
-- Assay results from Rockfire's first geotechnical drill hole
at Molaoi (MO_GTK_001) are now at hand and provided below.
-- MO_GTK_001 was drilled halfway between historical drill holes
to provide sufficient sample for geotechnical test work. Historical
drilling encountered several possible parallel lodes and MO_GTK_001
confirms that Molaoi comprises multiple lodes, and perhaps as many
as four stacked, high-grade lodes.
-- MAIN LODE
13.4% ZnEq . over 7.18m width, from 130.62m (11.3% Zn, 1.4% Pb
and 50g/t Ag).
-- SECOND LODE
15.6% ZnEq. over 0.17m width, from 142.60m (14.3% Zn, 0.5% Pb
and 41.80g/t Ag)
-- THIRD LODE
10.7% ZnEq. over 1.73m width, from 144.90m (8.3% Zn, 1.3% Pb and
62g/t Ag)
-- FOURTH LODE
19.5% ZnEq. over 2.24 m width, from 161.10m (16.6% Zn, 3.1% Pb
and 36g/t Ag)
-- Overall , the main, second and third lodes, comprise a broad
mineralised zone with an intersection of 7.5% ZnEq. over 16m width,
from 130.62m (6.2% Zn, 0.8% Pb and 31 g/t Ag).
-- The highest individual samples are:
20.5% Zn and 93.4g/t Ag over 1.25m (from 132.15m depth) and 4.1%
Pb over 1.0m (from 161.10m)
-- Germanium values are 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.
-- Core samples from the mineralised lodes will contribute
towards a compilation sample to commence crushing and grinding work
index studies.
-- The geotechnical drilling programme continues, with the third
drill hole currently being drilled. Core from the second drill hole
is being cut and will be sent to the laboratory when core sampling
is complete.
David Price, Chief Executive Officer of Rockfire, commented:
" Results from our first geotechnical drill hole at Molaoi are
outstanding.
"MO_GTK_001 illustrates several very important points at
Molaoi.
-- The deposit continues to demonstrate very high grades
-- Zinc occurs over widths suitable for underground, mechanised
mining
-- Mineralisation is continuous between historical drill
sections
-- Multiple lodes have been confirmed
-- Downhole surveys show no material hole deviation from the
planned angle and direction
-- Zinc occurs consistently with silver and lead
"Importantly, the downhole surveys provide concrete evidence
that the planned hole dip and hole direction do not deviate down
hole from the dip and direction at the surface position. Most of
the historical drilling (179 diamond holes in total) were either
drilled vertical, or not surveyed down-hole. Despite this lack of
downhole surveying of historical holes, MO_GTK_001 provides
management with significantly increased confidence in the original
data from that drilling'.
"Assay results of this magnitude and width provide management
with ever-increasing confidence that we can proceed rapidly towards
a resource upgrade and commence feasibility studies before the end
of the 2023 calendar year. The market will continue to be informed
of drilling progress and assay results as they are received."
RL Depth
Hole Number UTM E UTM N m m Dip
MO_GTK_001 665403.76 4077573.72 156.45 201.80 82.00
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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