17th Aug 2022 11:43
Rockfire Resources PLC - London-based gold and base metal exploration company - Begins exploration at its wholly-owned Molaoi zinc deposit in Greece. Geological mapping and rock sampling are underway throughout the license. A technical programme and environmental report have been submitted to the Greek government; these will need to be approved before drilling can progress. Its planned diamond drilling targets expansion of the maiden JORC resource of 2.3 million tonnes at 11% zinc equivalent, for around 250,000 tonnes of zinc equivalent, as previously announced in May. Selects preferred drilling contractor after soliciting three quotes, with drilling of 40 initial holes and 60 subsequent ones expected to take 12 months in total. Also begins metallurgical test work via BHM Processing in Perth, Australia, with "encouraging" initial results.
"We are very pleased with ongoing progress at Molaoi. Our exploration has officially commenced with rock sampling and geological mapping and the team in Greece has been bolstered with the addition of a Greek geologist who is undertaking the rock sampling programme. Our new geologist has prior practical experience with VMS deposits, specifically in Cyprus," says Chief Executive Officer David Price.
Current stock price: 0.36 pence, up 4.6% on Wednesday
12-month change: down 65%
By Elizabeth Winter; [email protected]
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