Last checked at 13 Feb 2023 07:00
13 February 2023
Rockfire Resources plc
("Rockfire" or the "Company")Exploration Update
Rockfire Resources plc (LON: ROCK), the base metal, gold, and critical mineral exploration company, is pleased to inform the market of recent exploration activity at the Company's 100%-owned Molaoi zinc deposit in Greece.
Highlights
· Following outstanding drilling results from drill hole MO_GTK_001, two further geotechnical holes have been completed. Hole MO_GTK_001 intersected a main lode comprising 13.4% ZnEq. over a width of 7.18m, from 130.62m (11.3% Zn, 1.4% Pb and 50g/t Ag). Several additional lodes were also encountered. Please refer to our RNS, dated 23 January 2023.
· Our geotechnical drilling is designed to gather geotechnical information along a 1.5km strike length of the orebody to assist with the selection of an appropriate mining method and mine design for safety.
· Massive sulphides have been observed in holes MO_GTK_002 and MO_GTK_003A, with some of the strongest visual mineralisation so far at Molaoi being encountered in MO_GTK_003A.
· A fourth geotechnical drill hole (MO_GTK_004) is in progress.
· Drill holes are being positioned approximately 100m apart, along a 1.5km strike. This will ensure that the full length of the zinc resource is tested for underground mining geotechnical parameters, as well as crushing/grinding work index studies.
· A site visit has been completed by SRK Consulting (UK) Ltd, who are working with the Rockfire team to ensure best practice methodologies are being implemented for the collection of data to support ongoing studies.
David Price, Chief Executive Officer of Rockfire, commented:
" We are pleased with the progress of our geotechnical drilling at Molaoi, and particularly thrilled with the quantity of sulphides being encountered. Multiple lodes are still being encountered in each hole, which bodes well for bringing these multiple lodes into our next resource upgrade. The market will continue to be informed of drilling progress and assay results as they are received."
Hole number | UTM E | UTM N | RL (m) | Depth (m) | Azimuth | Dip (°) |
MO_GTK_001 | 665404 | 4077606 | 151.73 | 201.80 | 268 | -82 |
MO_GTK_002 | 665403 | 4077606 | 151.16 | 150.00 | 268 | -60 |
MO_GTK_003 | 665387 | 4077496 | 155.00 | 119.30 | 268 | -85 |
MO_GTK_003A | 665384 | 4077496 | 155.00 | 200.00 | 268 | -85 |
MO_GTK_004 | 665384 | 4077496 | 155.00 | 160.00 | 268 | -60 |
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) | |
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. Molaoi is owned 100% by Rockfire.
§ 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 Farm-in and Joint venture with ASX-listed Sunshine Gold (ASX:SHN).
§ 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. Copperhead is owned 100% by Rockfire.