RNS (hence the JV)23 Jan 2023 07:15
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 th
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