Molaoi Drilling Update
Rockfire Resources plc has announced positive developments at its Molaoi zinc deposit in Greece, with hole HMO-020 yielding multiple high-grade zinc and germanium intersections, including 2.34m grading 6.2% Zn, 20.2g/t Ag, 15.1g/t Ge, and 0.3% Pb. The company is continuing drilling to upgrade the Inferred Resource to Indicated status and is undertaking comminution and point load compressive tests to assess mining feasibility. Metallurgical testing options are also being explored to advance the project towards a feasibility study.
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Rockfire Resources plc (LON: ROCK), the base metal, critical mineral and precious metal exploration company, provides an update of development activities from Rockfire's 100%-owned Molaoi zinc deposit in Greece. Hole HMO-020 has returned multiple high-grade zinc and germanium intersections.
Highlights
- Diamond drilling to upgrade the Inferred Resource to Indicated Resource status continues with hole HMO-021 in progress, though temporarily suspended during the summer vacation period.
- Comminution tests (crushing & grinding) are in progress to determine the appropriate equipment for use at Molaoi, as well as power expectations.
- Point load compressive tests are also underway to determine the ability of the ground to withstand compressive forces once a void is created during underground mining.
- Analytical results from Hole HMO-020 have been received from the laboratory and include:
o 2.34m @ 6.2% Zn, 20.2g/t Ag, 15.1g/t Ge and 0.3% Pb from 215.60m downhole depth
o 2.86m @ 4.1% Zn, 24.5g/t Ag, 9.3g/t Ge and 1.2% Pb from 240.04m downhole depth.
o 2.23m @ 5.2% Zn, 24.4g/t Ag, 4.1g/t Ge and 0.7% Pb from 248.12m downhole depth
Drill hole location map within the Molaoi Licence.
David Price, Chief Executive Officer of Rockfire, commented:
"Hole HMO-020 was designed to test the same section as holes HMO-015 and HMO-021 (in progress). This aim was successfully achieved, with multiple intersections being encountered. Each successful hole is expected to add to the overall tonnage of our targeted Indicated Resource.
Samples of core have now been delivered to the laboratory at SLR Consulting to undertake comminution tests (crushing & grinding) to determine the appropriate equipment for use at Molaoi. This work will include point load tests to determine the ability of the ground to withstand compressive forces once a void is created during underground mining.
The Company is investigating metallurgical testing options and is in discussion with several groups to conduct flotation tests, smelting of a zinc ingot and production of a germanium product as part of our feasibility pathway.
The market will continue to be informed and updated as we advance the Molaoi Project."
| 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 / Kelly Gardiner (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 |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.