Rockfire reports high-grade germanium and zinc results from Molaoi drilling campaign (ROCK)

Latest drilling strengthens confidence in Greek zinc project

Rockfire Resources (LSE:ROCK) has announced additional high-grade germanium and zinc intersections from its ongoing diamond drilling programme at the wholly owned Molaoi zinc project in Greece, supporting efforts to upgrade the deposit’s mineral resource from the Inferred to Indicated category.

Assay results from drill hole HMO-017 returned germanium grades of up to 52.3g/t, while zinc mineralisation reached 16.1% over a one-metre interval. The hole also delivered elevated silver and lead grades. Meanwhile, portable XRF readings from hole HMO-019 indicate substantial zinc and lead mineralisation, with laboratory assays still pending to confirm the results.

Drilling results expected to support resource upgrade

The company said the latest drilling reinforces confidence in its geological interpretation and is expected to play an important role in future underground mine planning. Strong by-product potential from silver and germanium could improve the project’s overall economics if the grades continue across a broader area.

Investors are now looking ahead to assay results from the remaining drill holes, which are expected to refine the project’s resource estimate and could further strengthen Rockfire’s position in both the zinc and critical minerals markets.

Financial challenges offset progress at project level

Rockfire’s investment outlook continues to be limited by its financial profile, with the company remaining pre-revenue, reporting ongoing losses and generating negative free cash flow. However, its debt-free balance sheet provides some financial flexibility.

Technical indicators have shown modest short-term improvement, although the longer-term trend remains weaker. Valuation metrics also remain challenging, reflecting the absence of earnings and the lack of a dividend yield.

More about Rockfire Resources PLC

Rockfire Resources is a London-listed mineral exploration company focused on gold, base metals and critical minerals. Its flagship asset is the high-grade Molaoi zinc, lead, silver and germanium project in Greece. The company also owns a portfolio of gold, copper and silver exploration projects in Queensland, Australia, including the Plateau and Marengo prospects, with some assets covered by farm-in agreements with ASX-listed partners.