30 January
2024
Rockfire Resources
plc
("Rockfire" or the "Company")
Confidence builds from twinned holes
at Molaoi
Rockfire Resources plc (LON: ROCK), the base metal, precious metal,
and critical mineral exploration company, is pleased to announce
that the Company's geotechnical drilling at its 100%-owned Molaoi
zinc deposit in Greece has successfully and convincingly replicated
historical drill holes. This drilling was necessary to build
confidence in the relative position of the historical holes and to
compare the strength of mineralisation in each position. The goal
is to increase the scale of the resource base and to deliver as
many tonnes as possible into the higher confidence "Indicated" JORC
category.
Highlights
Hole MO_GTK_008
·
sited to
replicate historical hole AN031.
Hole MO_GTK_008 intersected 4.75m of mineralisation, which compares
favourably with 5.0m of mineralisation in historical hole
AN031.
·
Hole MO_GTK_008 has an average grade of 8.41% Zn,
which compares favourably with an average grade of 9.95% Zn in
historical hole AN031.
·
The highest zinc grade returned from hole
MO_GTK_008 is 22.90% Zn, compared with historical hole AN031, which
returned a maximum grade of 23.44% Zn.
·
The highest lead interval is 3.02m @ 3.15%
Pb
·
The highest silver interval is 4.75m @ 64.87g/t
Ag
·
The highest germanium interval is 3.67m @ 46.90g/t
Ge
Hole MO_GTK_009
·
sited to
replicate historical hole B025. Hole
MO_GTK_009 intersected 2.20m of mineralisation, compared with 4.20m
of mineralisation in historical hole B025. A second zone of 1.90m
grading 4.05% Zn was encountered in hole MO_GTK_009.
·
Hole MO_GTK_009 has an average grade of 11.20% Zn,
which compares favourably with an average grade of 11.37% Zn in
historical hole B025.
·
The highest zinc grade returned from hole
MO_GTK_009 is 25.10% Zn, compared with historical hole B025, which
returned a maximum grade of 21.50% Zn.
·
The highest lead interval is 1.30m @ 2.61%
Pb
·
The highest silver interval is 1.30m @ 73.44g/t
Ag
·
The highest germanium interval is 2.20m @ 30.63g/t
Ge
David Price, Chief Executive Officer of Rockfire,
commented:
"This replication of historical
holes was requested by SRK Consulting Geologists to provide
increased confidence in the positioning and grades/widths of
historical drill holes. The results indicate that the similarities
between the original holes and the new holes are close. The width
varies in hole MO_GTK_009, however this is likely due to
differences in sample lengths and sampling intervals selected. This
drilling provides confidence in the original data and validates
many of the historical drill holes to be included into a future
resource upgrade.
"These four drill holes (MO_GTK_008 to MO_GTK_011) add
confidence to the existing data, which is largely derived from
historical drill holes. The results from holes MO_GTK_010 and
MO_GTK_011 are awaited.
"Currently, Molaoi has an Inferred JORC resource of 250,000
tonnes of zinc equivalent metal. Our overall objective is to
increase the resource and the resource category to approximately
400,000 tonnes, which would provide a 10-year mine life for a
modest underground mining operation."
"Drilling is continuing at Molaoi, with the current hole
(HMO_001) designed to in-fill a very large drilling gap in the
resource. This is an exciting drill hole and, if successful, has
the potential to add several months to the mine life of any future
mining operation at Molaoi. The market will continue to be
regularly informed of our progress at Molaoi."
|
Hole
Number
|
UTM East
|
UTM North
|
RL m
|
Depth m
|
Azimuth
|
Dip
|
|
MO_GTK_008
|
665377.508
|
4077068.9
|
174.02
|
155
|
360
|
-90
|
|
MO_GTK_009
|
665396.649
|
4077011.34
|
179.96
|
110.5
|
270
|
-70
|
|
MO_GTK_010
|
665325.749
|
4077267.12
|
164.45
|
158.7
|
360
|
-90
|
|
MO_GTK_011
|
665410.999
|
4077490.2
|
150.92
|
240
|
360
|
-90
|
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
(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 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 Resource of 2.3 million tonnes @ 11 % ZnEq. for
250,000 tonnes of ZnEq. This resource uses a 4% low-grade cut, with
individual elemental grades of 9.4 % Zn, 1.7 % Pb and 47 g/t Ag.
This 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).