Rockfire Resources PLC (LSE:ROCK) told investors it is making progress at its Molaoi zinc deposit, in Greece, where it has completed a soil and rock survey.
New mineralised zones have been identified, including Agios Eustratios to the south of the Kalamaki resource, the exploration company said.
Work in the field continues, on tighter grid spacing, it added.
A 3D geological model is under development, and consultants from Wardell Armstrong International have been engaged to support development planning, meanwhile, a permit application for revised drill positions is pending.
“Our work to progress Molaoi continues at pace. Whilst we await the much-anticipated awarding of our revised permit for drilling, the team at Rockfire has been busy on multiple fronts,” said chief executive David Price.
In London, the share was down 5% in Friday morning's trade at 0.11p - valuing the explorer at around £4.5 million.