Rockfire Resources plc (LON: ROCK), a base metal, gold, and critical mineral exploration company, has commenced drilling at its wholly-owned Molaoi zinc deposit, Greece.
This drilling programme, consisting of five holes, is designed to establish a high confidence in the positioning of the historical drill holes. This increased confidence in the positioning of historical holes is expected to enable the company’s inferred resources to convert to indicated resources, which can then be used in the planned feasibility studies.
The Molaoi deposit has a JORC resource of 210,000t of zinc, 39,000t of lead, and 3.5Moz of silver, using a 4% Zn cut off. Rockfire maintains it is important to understand that this round of drilling is not designed to increase the resources, rather, it is designed to provide confidence in the conversion to indicated resources. Since any feasibility study requires indicated resources, Rockfire is establishing the pathway to a feasibility study at Molaoi, planned for 2024.
The Molaoi project is a volcanogenic massive sulphide deposit in the Peloponnese province of southern Greece. Exploration drilling has been focused on a 1.5km long strike of mineralization. There is an additional 5.5 km strike of favourable geology, which also contains high-grade intersections in limited drilling.
Further, ownership of the Molaoi project is through Hellenic Minerals IKE, a Greek-registered company, which is a 100% subsidiary of Rockfire.
To find out more, please visit www.rockfireresources.com
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