13th Feb 2023 10:07
(Alliance News) - Rockfire Resources PLC on Monday said it completed two further geotechnical holes at the Molaoi zinc deposit in Greece.
The Greece and Australia-focused gold, base metal and critical mineral exploration company said its geotechnical drilling is designed to gather geotechnical information along a 1.5 kilometre strike length of the orebody to "assist with the selection of an appropriate mining method and mine design for safety".
Hole MO_GTK_001 showed 13% zinc equivalent over 7.2 metres width in the main lode.
The company said it observed massive sulphides in holes MO_GTK_002 and MO_GTK_003A, with some of the strongest visual mineralisation so far at Molaoi being encountered in MO_GTK_003A.
Rockfire added that a fourth drill hole is in progress.
Chief Executive Officer David Price: "We are pleased with the progress of our geotechnical drilling at Molaoi, and particularly thrilled with the quantity of sulphides being encountered. Multiple lodes are still being encountered in each hole, which bodes well for bringing these multiple lodes into our next resource upgrade. The market will continue to be informed of drilling progress and assay results as they are received."
Shares were up 3.9% on Monday morning in London.
By Xindi Wei, Alliance News reporter
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