1 August
2024
Rockfire Resources
plc
("Rockfire" or the "Company")
Drilling continues to extend zinc
northwards and at depth at Molaoi
Rockfire Resources plc (LON: ROCK), the base metal, precious metal,
and critical mineral exploration company, is pleased to announce
that drill hole HMO-005 has intersected multiple zinc lodes at its
100%-owned Molaoi zinc deposit in Greece. This hole extends
zinc/silver/lead +/-germanium mineralisation both northwards and
deeper than the resource outline and expands the resource model
significantly. A resource update is in progress.
Highlights
·
Hole HMO-005 has intersected multiple lodes in the
one drill hole:
¨ 1.70m @ 11.5% ZnEq. from 218.70m depth
¨ 5.05m @ 3.4% ZnEq. from 248.78m depth
¨ 2.74m @ 4.5% ZnEq. from 259.09m depth
¨ 1.91m @ 7.1% ZnEq. from 281.43m depth
¨ 3.07m @ 2.91% ZnEq. from 328.00m depth
·
These results extend the zinc, silver, lead,
+/-germanium beyond the mineralisation model to the north and at
depth.
·
A resource update for Molaoi remains on track and
update is anticipated in 2024. The resource update will include all
the geotechnical, twinning and expansion holes drilled by Rockfire
so far (20 holes in total), as well as all historical drilling (179
holes in total) completed by the Greek Government in the
1980's.
·
The drone-supported, multi-sensor survey at Molaoi
is now complete and results from this survey are being evaluated.
It is expected that this survey will ensure high-accuracy
topography and drill hole positioning.
·
The portable X-Ray Florescence (pXRF) machine is
proving most useful and readings as high as 47% Zn have been
recorded in spot sampling of the current drill hole HMO-007. It
must be kept in mind that this machine only provides an indication
of zinc presence, rather than an absolute value. Laboratory
analysis is still required to define the precise quantity of zinc
in any one interval.
|
Hole
|
UTM
|
UTM
|
RL
|
Depth
|
Azimuth
|
Dip
|
|
Number
|
(East)
|
(North)
|
(m)
|
(m)
|
(°)
|
(°)
|
|
HMO_001
|
665538.89
|
4077814.4
|
180.13
|
248.2
|
250
|
-60
|
|
HMO_002
|
665199.79
|
4078360.7
|
212.57
|
250.2
|
220
|
-65
|
|
HMO_003
|
665486.48
|
4078027.6
|
200.68
|
300.4
|
271
|
-55
|
|
HMO_004
|
665505.28
|
4077975.5
|
202.93
|
350
|
270
|
-70
|
|
HMO_005
|
665464.55
|
4078137.3
|
194.45
|
349.9
|
270
|
-65
|
Zinc Equivalent
formula:
Zn % + (Pb %*0.74) + (Ag
ppm*339.9) + (Ge ppm*1010.9) + (Ga ppm*276.3)
Long
Section view of the zinc resource (silver colour), looking towards
the west.
This RNS
refers to hole HMO-005 as shown circled in the image
above.
David Price, Chief Executive Officer of Rockfire,
commented:
"Drilling at Molaoi continues and
each hole has been successful in expanding the resource outline.
This is anticipated to result in a significant upgrade to the
current resource of 250,000 tonnes of zinc equivalent content.
Rockfire's resource consultant has identified a minimum of 12 lodes
so far and recent drilling has confirmed the continuation of these
lodes to the north and at depth."
"Our target of a minimum of 400,000 tonnes of zinc equivalent
tonnes is considered realistic and achievable and hole HMO-005 has
been successful in confirming the new mineralisation model. Hole
HMO-006 has core samples at the laboratory awaiting analysis and
hole HMO-007 remains in progress. Hole HMO-007 is a step-out of
150m to the north of hole HMO-005."
"Drilling results will continue to be released to the market
as they are received from the laboratory and following
interpretation by our geologists."
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 & Broker):
|
Tel: +44 (0) 20 3328 5656
|
|
John Depasquale / George Payne
(Corporate Finance)
|
|
|
Guy McDougall / Matt Butlin (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
(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
|
|
''
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
|
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 2.3 million tonnes @ 9.4 %
Zn, 1.7 % Pb and 47 g/t Ag, for 250,000 tonnes of ZnEq. This
resource uses a 4% low-grade cut, and equates to
210,000 tonnes of zinc, 39,000 tonnes of lead and
3.5 million ounces of silver.
§ 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. Plateau is
subject to a joint venture with ASX-listed Sunshine Metals Ltd
(ASX:SHN).
