Rockfire Resources plc (LSE:ROCK) has signed a Farm-in Agreement with Eastern Resources Limited to advance exploration at the Marengo Gold Project in Queensland, Australia. Under the terms of the deal, Eastern will fund drilling and exploration activities targeting high-grade gold, silver, and copper over the next three years. This arrangement allows Rockfire to prioritize development of its flagship Molaoi zinc deposit in Greece.
The agreement gives Rockfire the flexibility to maintain a 20% stake in Marengo or convert its interest into a 1.5% net smelter royalty. Either option could deliver value to shareholders in the event of a significant discovery at the project.
About Rockfire Resources plc
Rockfire Resources is an exploration company focused on gold, base metals, and critical minerals with assets in both Greece and Australia. Its portfolio includes high-grade zinc, lead, silver, and germanium deposits in Greece, alongside multiple gold, copper, and silver prospects in Queensland.
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