Rockfire Resources (LSE:ROCK) has reported additional high-grade mineralisation from diamond drilling at its wholly owned Molaoi zinc deposit in Greece, as the explorer continues technical studies aimed at advancing the project towards potential development.
Results from drill hole HMO-020 included multiple intersections containing zinc and germanium. Rockfire expects the new drilling data to contribute towards its targeted increase in Indicated Resource tonnage, providing further geological information as the company works to improve confidence in the Molaoi resource.
Alongside drilling, Rockfire is progressing feasibility-related studies across several areas of the project. Comminution and point load testing is being undertaken to assess the characteristics of the mineralisation and help determine appropriate equipment requirements for potential future mining and processing operations.
Metallurgical work is also evaluating different processing routes, including flotation and zinc smelting, as well as options for producing a marketable germanium product. Germanium is considered a critical mineral and represents an additional potential source of value alongside Molaoi’s zinc, lead and silver mineralisation.
The latest work demonstrates continued technical progress at Molaoi during the summer period despite a temporary pause in drilling. Results from the ongoing studies are expected to contribute to the broader feasibility assessment and help Rockfire determine the most suitable development and processing strategy for the deposit.
From an investment perspective, Rockfire’s outlook remains constrained by its pre-revenue status, continuing net losses and persistent negative free cash flow, including a substantial operating cash outflow during 2025. Technical indicators provide some support, with the shares trading above shorter-term moving averages, although they remain below the 200-day moving average and MACD is slightly negative. Valuation also remains difficult to assess favourably given negative earnings and the absence of a dividend yield.
More About Rockfire Resources PLC
Rockfire Resources plc is a London-listed mineral exploration company with interests in gold, base metals and critical minerals.
Its flagship asset is the 100%-owned Molaoi deposit in Greece, which contains high-grade zinc, lead, silver and germanium mineralisation. The company is carrying out drilling and technical studies designed to increase confidence in the resource and evaluate potential pathways towards future development.
Rockfire also holds a portfolio of gold, copper and silver projects in Queensland, Australia, including the Plateau and Marengo prospects. These assets are subject to farm-in arrangements with ASX-listed partners, allowing exploration activity to continue while Rockfire concentrates resources on advancing Molaoi.
Leave a Reply