22
November 2024
Rockfire Resources
plc
("Rockfire" or the "Company")
Progress Update at Molaoi,
Greece
Rockfire Resources plc (LON: ROCK), the base metal, precious metal,
and critical mineral exploration company, is pleased to provide the
following update of work being completed at its 100%-owned Molaoi
zinc deposit in Greece.
Highlights
·
A 395-site portable X-Ray Fluorescence (pXRF)
orientation soil survey using a 20m x 50m grid density has recently
been completed.
·
The trial survey was designed to evaluate the use of the pXRF to validate mapped zones of
anomalous zinc and to establish the most
efficient grid spacing to reliably identify dispersion halos in
soils above mineralisation.
·
Before each survey, the pXRF was cleaned, visually inspected
for damage, internally calibrated, and tested with a quartz blank
and certified reference materials to ensure result
validity.
·
pXRF and Magnetic Susceptibility readings were
collected from soils exposed in shallow (>10cm) hand dug
pits.
·
The trial area covers several historical mine pits and
results are extreme in places. Peak soil values are up to 1.07% for
Zn and 1.8% for lead.
·
Zinc and lead contours highlight a north-south linear anomaly
as expected. The survey has confirmed the ability of the pXRF to
locate both discrete and broad anomalous concentrations of zinc and
lead.
·
A sample density of 25m x 200m is recommended to provide
regional coverage across the entire permit area.
David Price, Chief Executive Officer of Rockfire,
commented:
"The purpose of the pXRF
orientation survey was to test areas of known mineralisation to
determine if zinc and lead surface mineralisation will register in
the soils. One of the specific aims was to determine the
appropriateness of using the pXRF device for a more regional survey
covering the entire 7km length of the exploration
lease."
"It was concluded that the pXRF does register zinc and lead in
the soil survey and the device is likely to be an appropriate
exploration tool for defining discreet zinc and lead bodies
throughout the lease. Based on the results of this orientation
survey, it was recommended that a regional survey using a line
spacing of 200m and a sample spacing of 25m is expected to identify
more zinc trends outside the area already defined by
drilling."
"Should the regional survey identify trends, areas of
mineralisation can be more closely sampled to provide sufficient
coverage and spacing to define accurate drilling targets for future
exploration along the length of the exploration lease. A
comprehensive review of the pXRF multielement data will also be
conducted to identify elemental ratios and pathfinder
signatures."
"It is interesting to note that surface geological mapping is
obviously restricted to visible outcrops, but the pXRF demonstrates
that broader and more continuous zinc occurs well beyond the limits
of geological outcrop mapped in the past. This is great news for
Molaoi and the Company intends to utilise this tool to pinpoint
future drilling positions. The regional survey will commence as
soon as possible to cover the entire 7km north-south extent of the
lease."
Zinc-in-soil pXRF contours
overlain on an aerial photograph. The thin red lines are mapped
outcrops of zinc mineralisation and this image demonstrates that
the pXRF identifies broader and more continuous
zinc.
The contoured area in light
blue represents the pXRF orientation survey. The dark blue lines
represent the 200m line spacing for a regional survey planned to
commence shortly.
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 / Kelly Gardiner (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).