Rockfire Resources (LSE:ROCK) announced new drilling results from its wholly owned Molaoi zinc project in Greece, where ongoing diamond drilling is aimed at upgrading the existing JORC Inferred resource to Indicated status. The latest drillhole, HMO-013, returned very high portable XRF zinc readings alongside strong indications of lead, silver, copper and barium mineralisation, extending high-grade zones toward the west and south beyond much of the historical drilling footprint.
The company said recent drilling has begun to deliver copper and silver grades that surpass many previously recorded results at Molaoi. Elevated barium levels may indicate geological zonation toward a potentially richer domain containing higher concentrations of silver, copper and gold. Rockfire is also evaluating the purchase of a modern drilling rig located in Athens, a move that could reduce reliance on external contractors, improve operational flexibility and accelerate exploration progress at the project.
The company’s outlook remains constrained by weak financial performance, including the absence of revenue, continued losses and negative free cash flow. These factors are partly balanced by a debt-free balance sheet and improving operating cash flow trends. Technical indicators are supportive, although valuation metrics remain limited by a negative P/E ratio and the absence of dividend data.
More about Rockfire Resources PLC
Rockfire Resources PLC is a London-listed exploration company focused on gold, base metals and critical minerals. Its flagship asset is the high-grade zinc, lead, silver and germanium Molaoi deposit in Greece. The group also holds gold, copper and silver exploration projects in Queensland, Australia, including the Plateau and Marengo prospects, some of which are subject to farm-in agreements with ASX-listed partners.
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