Molaoi old workings return high grades

28 November 2022

Rockfire Resources plc

("Rockfire" or the "Company")

Molaoi old workings return high grades

Rockfire Resources plc (LON: ROCK), the base metal and critical mineral exploration company, has received high grade results from rock samples taken from historic mullock (waste) dumps and surface outcrops at its 100%-owned Molaoi zinc/silver/lead/germanium deposit in Greece ("Molaoi").

Highlights

·    Zinc up to 25% Zn, lead up to 16.8% Pb and silver up to 498g/t Ag have been sampled in rocks from waste dumps and outcrop around old mine workings. See the attached map showing the location of all prospects comprising the Molaoi Project.

·    Highest results obtained are from the "Kalamaki" prospect, where a JORC resource of 2.3Mt @ 9.4% Zn, 1.7% Pb and 47g/t Ag is located. Rockfire is currently drilling in the Kalamaki area.

·    9.3% Zn has been found in old workings at the "Fournos" prospect, approximately 1.5km north of the JORC mineral resource. Previous drilling by the Greek government has encountered 3m @ 8.4% Zn in diamond drill core at Fournos.

·    15.8% Zn has been found in old workings at the "Mesovouni" prospect, approximately 1.0km northwest of the JORC resource. Previous drilling by the Greek government has encountered 3m @ 6.7% Zn in diamond drill core at Mesovouni.

·    8.7% Zn, 5.2% Pb and 161g/t Ag has been found in outcrop to the north of the "Gkagkania" prospect, approximately 1.5km northwest of the JORC resource. Previous drilling by the Greek government has encountered 7m @ 10.2% Zn in diamond drill core at Gkagkania.

·    Germanium values are low, due to strong weathering of the rocks. Germanium is heavily leached from weathered rocks.

·    Geotechnical drilling at the main resource area of Kalamaki is progressing well.

A plan showing the location of prospects can be viewed by following the link provided here. http://www.rns-pdf.londonstockexchange.com/rns/6976H_1-2022-11-27.pdf.

David Price, Chief Executive Officer of Rockfire, commented:

"These rocks have returned very good results. Being from the spoils (waste) around the opening of old workings, it is testimony to the high grades of zinc, lead and silver encountered during historical mining.

"Several high-grade results were obtained from outcrops with no historical mining. This emphasises the quality of targets to the north and northwest of the main resource area. Some of these targets have been drilled previously by the Greek government and encountered high-grade zinc, lead and silver in drilling.

"Our inaugural geotechnical drilling is underway at Molaoi and progressing very well. The market will be informed regularly as our drilling programme progresses"

For further information on the Company, please visit www.rockfireresources.com or contact the following: 

Qualified Person Statement

The technical information in this announcement is based on information compiled by Mr David Price, the Chief Executive Officer of Rockfire Resources plc, who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr Price has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a "Qualified Person" in accordance with the AIM Rules Guidance Note for Mining and Oil & Gas Companies. Mr Price consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.

Notes to Editors

Rockfire Resources plc (LON: ROCK) is a base metal and critical mineral exploration company, with a portfolio of 100%-owned gold/copper/silver projects in Queensland Australia and a high-grade zinc/lead/silver/germanium deposit in Greece.

§ The Molaoi deposit in Greece has a JORC resource of 210,000 tonnes of zinc, 39,000 tonnes of lead and 3.5 million ounces of silver.

§ The Plateau deposit in Queensland has a JORC resource of 130,000 ounces of gold and 800,000 ounces of silver.

§ The Copperhead deposit in Queensland has a JORC resource of 80,000 tonnes of copper, 9,400 tonnes of molybdenum and 1.1 million ounces of silver.