Rockfire Resources (LSE:ROCK) has announced further drilling results from its wholly owned Molaoi zinc deposit in Greece, with drill hole HMO-015 returning several high-grade intersections containing zinc, silver and germanium within the project’s principal mineralised lode. The company is continuing its ongoing diamond drilling programme, which is designed to upgrade the existing JORC Inferred Resource to Indicated classification.
Drilling campaign highlights continuity across main mineralised zone
Additional assay results from hole HMO-016 are still pending, while drilling at hole HMO-017 remains underway. Preliminary portable XRF readings from HMO-017 have indicated elevated zinc, silver, copper and lead grades over narrow intervals, further supporting the continuity and strength of mineralisation across the 1,300-metre-long main zone.
Management said every hole drilled into the principal lode to date has intersected consistent multi-metal mineralisation, reinforcing confidence in the scale and quality of the deposit. The company also highlighted continued support from local communities and the Greek government, noting that low-impact drilling methods are being used to minimise environmental disturbance and maintain positive stakeholder engagement.
Rockfire’s broader outlook continues to be weighed down by weak financial performance, including ongoing losses, negative free cash flow and the absence of revenue generation. However, the company maintains a debt-free balance sheet and has reported improvements in operating cash flow. Technical market indicators remain relatively supportive, although valuation metrics continue to be constrained by negative earnings and the lack of dividend support.
More about Rockfire Resources PLC
Rockfire Resources 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. The company also holds interests in a portfolio of gold, copper and silver projects in Queensland, Australia, including the Plateau and Marengo assets, which are operated under farm-in agreements with local partners.
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