Drilling commences at Molaoi

Rockfire Resources plc (LON: ROCK), the base metal, gold, and critical mineral exploration company, is pleased to announce that the Company has commenced drilling at its 100%-owned Molaoi zinc deposit in Greece.

This drilling programme, consisting of 5 holes, is designed to replicate several historical drill holes to establish a high confidence in the positioning of the historical drill holes. This increased confidence in the positioning of historical holes is expected to enable our Inferred Resources to convert to Indicated Resources, which can then be used in our planned Feasibility Studies.

It is important to understand that this round of drilling is not designed to increase the resources, rather, it is designed to provide confidence in the conversion to Indicated Resources. Rockfire's current Inferred Resource cannot be used in Feasibility Studies in accordance with the JORC Code for Reporting. Any Feasibility Study requires Indicated Resources, and Rockfire is establishing the pathway to a Feasibility Study at Molaoi, which is planned for 2024.

Although the trading of Rockfire shares is currently under suspension, the company will be releasing drilling results from Molaoi.