- Rockfire Resources
- 10 April 2026 12:42:36
Source: Sharecast
The AIM-traded explorer said diamond drilling aimed at converting the existing inferred resource to indicated status was ongoing, with hole HMO-015 currently in progress.
Recent assay results from multiple holes confirmed the continuation of high-grade mineralisation across the southern zones of the deposit.
Results from hole HMO-012 included a two-metre interval at 67.23 metres grading 4.3% zinc, 20.5 grams of germanium per tonne and 23.7 grams of silver per tonne, including a higher-grade section of 0.75 metres at 8.9% zinc and 30.1 grams of germanium per tonne.
The same hole also returned a one-metre interval at 76 metres with 59.0 grams of silver per tonne and 0.2% copper, while a narrow interval at depth intersected 1.7% copper, the second-highest copper grade recorded at the project.
Hole HMO-013 intersected a 1.2-metre zone at 47 metres grading 4.86% zinc, 17.9 grams of germanium per tonne, 1.2% lead and 32.2ppm silver.
Drilling at HMO-014 encountered difficult ground conditions and was suspended before reaching its target depth, although spot readings included zinc values of up to 13.86% and lead up to 7.5% at 172 metres, above the anticipated mineralisation zone.
The company noted that increasing copper grades could help vector towards the core of the volcanogenic massive sulphide system, while confirming no gold was identified in recent holes despite elevated barium levels.
Chief executive David Price said the latest results were encouraging for the southern extension of the deposit.
“The southern part of the licence continues to intersect narrow, but strong zinc and germanium grades,” he said.
“This is very encouraging given the proximity to the Agios Efstratios zinc prospect at the southern extremity of the licence, where historical drilling encountered grades up to 27.3% zinc over half a metre wide.
“During drilling in the 1980's, germanium was not analysed, so it is very exciting to discover that germanium mineralisation continues all the way through this southern area at potentially economic grades.”
Price added that copper mineralisation could guide further exploration.
““The copper grades being encountered are becoming more frequent.
“This is likely to lead to a vectoring towards the enriched core of the mineralisation, which has not yet been discovered.”
Rockfire said drilling would pause for Orthodox Easter before resuming on 20 April.
The company said it had also committed to acquiring its own drilling rig, funded from existing cash reserves, which it expected would reduce drilling costs and increase operational efficiency without the need for additional fundraising.
At 1216 BST, shares in Rockfire Resources were down 1.82% at 0.14p.
Reporting by Josh White for Sharecast.com.
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