Rockfire Resources (ROCK), a company focused on exploring base metals, gold, and critical minerals, has reported encouraging results from its geotechnical drilling program at the Molaoi zinc deposit in Greece.
The drilling has yielded high-grade zinc intersections, with the second hole (MO_GTK_002) intersecting individual zinc values of up to 19.7% over a width of 0.4m at a depth of 108.40m, with an underground mineable width of 2.4m has an average grade of 5.8% ZnEq.
Drilling also found individual peak silver values are up to 94.2g/t Ag and individual peak lead values are up to 2.5% Pb. Rockfire said that although germanium values remain low, it may be concentrated in a particular part of the resource or controlled by structures or preferential lithology.
The drilling program is ongoing, with hole MO_GTK_008 having recently been completed, and the company plans to keep the market informed of any further developments.
Rockfire Resources also intends to commence discussions with potential partners in Athens, Greece to commission the planned geotechnical test work on the collected core from this drilling campaign.
David Price, Chief Executive Officer of Rockfire, commented: "Results from our geotechnical drilling continue to confirm the location, continuity and high-grade nature of the zinc resource. Potentially economic zinc grades continue to occur over widths deemed suitable for mechanised underground mining. The close association of zinc, silver and lead continues to be demonstrated.”
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The quantity of sulphides so far encountered at Molaoi bodes well for the project. Based on results so far, we would expect a resource upgrade soon, followed by a feasibility study this year.
Confirmation of multiple lodes should result in a significantly increased tonnage and future profitability of the project. MO_GTK_001 found Zinc over widths suitable for mechanised mining, with mineralisation appearing continuous between the historic drill sections, and the second hole appears to offer similar prospects.
Geotechnical drilling so far has provided Rockfire with increased confidence in original data from historical work at Molaoi. The project benefits from prior drilling by the Greek government in the 1980s, accelerating Rockfire's timeline to production.