Rockfire Resources confirms presence of zinc at Molaoi

This verification is a big step towards de-risking the deposit and provides enormous encouragement for the team to move forward rapidly with resource expansion plans.

Highlights

• Reanalysis of historical diamond drill core has returned high-grade zinc, lead and silver values, which closely replicate historical analyses. Weighted average variance does not exceed 10% for any of the elements.
• Samples were selected to verify a spread of original assays ranging from 0.9 % Zn to a maximum of 36.75 % Zn. This was to test a broad population of both low-grade and high-grade values throughout the deposit.
• The reanalysed samples were selected to represent a spatial spread to include a 1.5 km distance where most of the historical drilling has occurred. This is an important aspect of achieving our planned inaugural JORC resource at Molaoi.
• The highest individual assay returned is 0.5 m @ 34.1% Zn, 12.9% Pb, and 474 g/t Ag. Not all of the core was sampled, and this individual sample is within a broader zone which was not resampled but grades 3 m @ 13.0% Zn, 4.6% Pb, and 159.8 g/t Ag in historical analysis.
• A total of 51 samples were taken of the old core, of which 30 returned zinc values above 10% Zn. A further seven samples returned zinc above 5% Zn.
• Of the 51 samples collected, 26 returned lead assays higher than 2% Pb, and 32 samples returned silver assays over 50 g/t Ag.
• These samples are within a densely drilled strike length of 1.5 km and a further 5.5 km strike is available for expansion. Historical drilling demonstrates that high-grade zinc already exists along this additional 5.5 km trend.
• Assay results from sampling of gold and critical metals is awaited and will be reported when received by the company.
• The Rockfire team is working on upgrading the historical resource to report a mineral resource estimate for Molaoi which complies with the JORC Code for reporting.

David Price, Chief Executive Officer of Rockfire, comments:

“These are outstanding assay results which verify the historical drilling and assaying. This verification process forms part of Rockfire’s technical Quality Assurance/Quality Control (QA/QC), which is an important aspect of achieving an inaugural JORC resource estimate. Verification assays of this magnitude and accuracy confirm the significance of the Molaoi project and contribute to overall de-risking of the project.

“The Hellenic Authority for Geological and Mineral Research (E.A.G.M.E.) is to be commended for its analytical excellence. The core has been stored in excellent condition by E.A.G.M.E., which allowed for important quality control testing nearly 40 years after the initial drilling.

“The process of design and approval for our planned drilling programme at Molaoi is expected to take up to five months. In the meantime, our team is working on the inaugural JORC resource at Molaoi and our exploration in Queensland continues despite persistent wet weather conditions. We will keep the market informed of our exploration work as results come to hand.”

Read the article online at: https://www.globalminingreview.com/exploration-development/04052022/rockfire-resources-confirms-presence-of-zinc-at-molaoi/