Rockfire Resources PLC (LSE:ROCK) told investors that drilling at its Molaoi deposit in Greece returned 3.30 metres grading 18.9% zinc, 37.2 grams per tonne silver and 25.0g/t germanium, extending mineralisation deeper beneath the existing resource.
Hole HMO-019 also intersected 0.10 metres at 27.8% zinc and 84.1g/t germanium, alongside several additional zinc-silver-germanium zones. The company said the hole reached mineralisation around 50 metres below HMO-018.
Chief executive David Price said grades were stronger than in the previous hole, suggesting they may increase with depth, although additional drilling is required to confirm this.
Rockfire is drilling to upgrade Molaoi’s inferred resource to indicated status as part of a planned feasibility study. HMO-021 is underway, results from HMO-020 are awaited, and a new rig is scheduled to reach Athens in late September or early October.
"Each hole which returns good zinc, silver and germanium adds tonnage to our targeted Indicated Resource. The completion of an Indicated Resource is part of our scheduled feasibility study into economic extraction of zinc, silver, germanium and lead at Molaoi," said chief executive David Price.
"The company is continuing to fast-track several technical aspects of the feasibility study for Molaoi."
It also noted that the firm's new drilling rig remains on schedule for landing into Athens in late September/early October as originally scheduled.
