Rockfire Resources identifies potential new zinc zone at Molaoi
Why we think this is good
The discovery of a significant new zinc anomaly at Rockfire's Molaoi project in Greece is a positive development that could potentially double the existing JORC resource. The high-grade historical drilling results at the new 'Gkagkania' target area suggest the potential for a substantial new zinc resource. While the company needs to obtain a new drilling permit, which may cause a delay, the overall exploration upside outweighs this minor negative.
Key Points
- Discovery of a new, large zinc anomaly (Gkagkania) that could potentially double the existing JORC resource at Molaoi
- High-grade historical drilling results at Gkagkania, indicating the potential for a significant new zinc resource
- Ongoing pXRF survey to identify more targets along the 4km zinc trend
- Company needs to obtain a new drilling permit to convert Inferred resources at Kalamaki to Indicated
Summary
Rockfire Resources has announced the discovery of a new, coherent and strong zone of zinc mineralization at its Molaoi project in Greece. The new 'Gkagkania' target area is comparable in size to the existing JORC-compliant zinc resource at the 'Kalamaki' area, and historical drilling has returned high-grade results. The company is now conducting a tenement-wide pXRF survey to identify more targets along the 4km zinc trend. While the company needs to obtain a new drilling permit to convert Inferred resources to Indicated at Kalamaki, the potential expansion of the overall resource base is a positive development for the project's future development and economics.