Rockfire Extends High-Grade Zinc Mineralisation to the South at Greece’s Molaoi Project

Rockfire Resources (LSE:ROCK) has restarted diamond drilling at its wholly owned Molaoi zinc project in Greece, as part of efforts to upgrade the existing JORC Inferred Mineral Resource to Indicated category. The latest drilling has confirmed that mineralisation extends further south and remains open in that direction.

Operational and financial highlights

The fourth drill hole of the current campaign, HMO-011, returned encouraging portable XRF results, identifying multiple narrow but high-grade intervals containing zinc, silver, lead and barium. The presence of barium supports the company’s evolving geological interpretation, pointing to an epithermal overprint on a volcanogenic massive sulphide (VMS) system.

Alongside drilling, Rockfire is progressing a range of technical workstreams aimed at de-risking the project. These include hydrology and ecological studies, the engagement of SLR Consulting to refine the mineralisation model, and the evaluation of geophysical survey options. Together, these steps are intended to support future feasibility studies and advance Molaoi toward development readiness.

From an investment standpoint, the outlook remains constrained by weak financial fundamentals, with the company currently pre-revenue, loss-making and generating negative free cash flow. Market technicals also remain subdued, with the share price trading below key moving averages. Valuation indicators offer limited support, reflecting ongoing losses and the absence of dividend yield.

More about Rockfire Resources

Rockfire Resources plc is a London-listed exploration company focused on gold, base metals and critical minerals. Its flagship asset is the high-grade Molaoi zinc, lead, silver and germanium deposit in Greece, which hosts a JORC Inferred Mineral Resource of 15 million tonnes grading 7.26% zinc, 1.75% lead and 39.5 g/t silver. In addition, the company holds a portfolio of gold, copper and silver projects in Queensland, Australia, including the Plateau and Marengo projects, which are being advanced through farm-in arrangements with ASX-listed partners.