Molaoi Drilling Update
Rockfire Resources plc has announced a drilling update from its Molaoi zinc deposit in Greece, reporting significant germanium grades up to 52.3g/t Ge in drill core. Hole HMO-017 intersected 2.20m at 4.5% Zn, 38.8g/t Ag, 1.2% Pb, and 35.7g/t Ge, as well as 1.00m at 16.1% Zn, 33.80g/t Ag, 0.7% Pb, and 21g/t Ge, and 5.9m at 5.0% Zn, 20.5g/t Ag, 1.4% Pb, and 16g/t Ge. Portable XRF readings from hole HMO-019 also indicated high values for zinc, lead, and silver. The company is continuing drilling to upgrade its Inferred Resource to Indicated Resource status.
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Rockfire Resources plc (LON: ROCK), the base metal, critical mineral and precious metal exploration company, provides a drilling update from Rockfire's 100%-owned Molaoi zinc deposit in Greece. High grade germanium up to 52.3g/t Ge continues to be encountered in drill core.
Highlights
- A high value of 52.3g/t Ge has been intersected over 0.5m wide in hole HMO-017 at 309.5m downhole depth.
- Analytical laboratory results from Hole HMO-017 include:
o 2.20m @ 4.5% Zn, 38.8g/t Ag, 1.2% Pb and 35.7g/t Ge at 254.45m downhole depth.
o 1.00m @ 16.1% Zn, 33.80g/t Ag, 0.7% Pb and 21g/t Ge from 288.00m downhole depth
o 5.9m @ 5.0% Zn, 20.5g/t Ag, 1.4% Pb and 16g/t Ge from 309.50m downhole depth.
- Results from the laboratory for drill holes HMO-018 and HMO-019 are awaited.
- Portable XRF readings from hole HMO-019 include:
o Peak individual values of 50.0% Zn
o Peak individual readings up to 18.8% Pb
o Peak individual silver values including 179g/t Ag and 163g/t Ag
o 2.50% Cu is the highest individual copper reading
The pXRF does not measure germanium.
Drill hole location map within the Molaoi Licence.
David Price, Chief Executive Officer of Rockfire, commented:
"Results from Hole HMO-017 continue to confirm the widths and grades of the deposit overall - information that will feed into our Indicated Resource upgrade. With each hole drilled, our geological team is monitoring, interpreting and adjusting the geological model. High-grade zinc, silver, germanium and lead values continue to be intersected, and the geological model is holding up under the scrutiny of the drilling rig.
It is pleasing to see that numerous lodes have again been intersected in hole HMO017. An interval of 16% Zn over an interval of 1.0m has the potential to be captured into our underground mine plan using a minimum mechanised mining width of 2.0m. This, of course still results in an average grade of 8% Zn over the 2m mining width. That's even before the valuable by-products of silver and germanium are added to the economics.
The market will continue to be informed and updated as we receive results from the laboratory."
| Rockfire Resources plc | E-mail: info@rockfire.co.uk |
| David Price, Chief Executive Officer | |
| Allenby Capital Limited (Nominated Adviser & Broker): | Tel: +44 (0) 20 3328 5656 |
| John Depasquale / Ashur Joseph (Corporate Finance) | |
| Matt Butlin (Sales and Corporate Broking) | |
| CMC Markets UK Plc (Joint Broker) | Tel: +44 (0)20 3003 8632 |
| Douglas Crippen | |
| Oak Securities (Joint Broker) | Tel: +44 (0) 20 3973 3678 |
| Jerry Keen / Robert Bell | |
| Glossary | |
| Item | Definition |
| "3D" | three dimensional |
| '' Ag'' "Au" | Silver Gold |
| "Cu" "Ga" | Copper Gallium |
| '' Ge'' | Germanium |
| '' g/t'' | grams per tonne |
| ''JORC'' | Joint Ore Resource Committee |
| "km" | Kilometre |
| "m" "Ni" | Metre Nickel |
| '' Pb'' | Lead |
| "ppm" | parts per million |
| "pXRF" | portable X-Ray Florescence |
| "VMS" | volcanogenic massive sulphide |
| ''' Zn'' | Zinc |
| "ZnEq'' | zinc equivalent |
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