Announcement • 5h
Rockfire Resources plc Provides Drilling Update For Molaoi Zinc Deposit Rockfire Resources plc provided a drilling update from Rockfire's 100%-owned Molaoi zinc deposit in Greece. Hole HMO-018 has intersected good zinc grades and successfully infills another 50m panel in the anticipated Indicated Resource model. Each hole returning good zinc, silver and germanium adds material tonnage to its targeted Indicated Resource. Diamond drilling to upgrade the Inferred Resource to Indicated Resource status continues with hole HMO-021 currently in progress. Analytical results from Hole HMO-018 have arrived back from the laboratory and include: 3.13m @ 6.0% Zn, 52.7g/t Ag, 18.2g/t Ge and 1.5% Pb at 211.38m downhole depth; 1.30m @ 9.1% Zn, 65.3g/t Ag, 11.3g/t Ge and 1.3% Pb from 240.70m downhole depth; 0.91m @ 7.8% Zn, 38.0g/t Ag, 10.9g/t Ge and 2.0% Pb from 270.49m downhole depth. Results from the laboratory for drill holes HMO-019 and HMO-020 are awaited. Portable XRF readings from hole HMO-020 include: Peak individual values of 37.7% and 29.6% Zn; Peak individual silver values including 100g/t Ag; Peak individual readings up to 8.6% Pb; 0.85%Cu is the highest individual copper reading so far. The pXRF does not measure germanium. The cleanliness of the pXRF machine is established by measuring a BLANK reference material (a translucent quartz crystal) at the beginning of each day. A Certified Reference Material (CRM) specific to volcanic-hosted massive sulphide Zn-Pb-Cu-Ag-Au ore (ORES 620) is measured for accuracy/precision of the pXRF machine with a reading taken at the beginning of each day. The drilling contractor in Athens has informed Rockfire that the intended summer vacation for their drilling crews throughout Europe will occur during the second half of August, during which there will be no drilling activity. The completion of an Indicated Resource is part of the scheduled feasibility study into economic extraction of zinc, silver, germanium and lead at Molaoi. The Company has commenced fast-tracking several technical aspects of the feasibility study for Molaoi. Quotes are being obtained to undertake studies to apply for permits to reopen the underground workings for future mining use. These studies include drilling several holes into the path of the existing decline to determine geotechnical conditions to ensure a safe mining plan. It is expected that studies will commence this calendar year and are expected to take approximately 4 months to complete. The Company is expecting the completion of field observations as part of an Ecological Study in the coming weeks, with a final report expected in August. Hydrological observations are still being recorded as part of the baseline Hydrology measurements prior to mining. The Company has been notified that at this point in time the drilling rig remains on schedule for landing into Athens in late September/early October as originally scheduled. Announcement • Jul 01
Rockfire Resources Provides Drilling Update From Molaoi Zinc Deposit In Greece Rockfire Resources plc provided a drilling update from Rockfire's 100%-owned Molaoi zinc deposit in Greece. High grade germanium up to 52.3g/t Ge continues to be encountered in drill core. Diamond drilling to upgrade the Inferred Resource to Indicated Resource status continues with hole HMO-020 currently in progress. A high value of 52.3g/t Ge has been intersected over 0.5m wide in hole HMO-017 at 309.5m downhole depth. Analytical laboratory results from Hole HMO-017 include: 2.20m @ 4.5% Zn, 38.8g/t Ag, 1.2% Pb and 35.7g/t Ge at 254.45m downhole depth. 1.00m @ 16.1% Zn, 33.80g/t Ag, 0.7% Pb and 21g/t Ge from 288.00m downhole depth. 5.9m @ 5.0% Zn, 20.5g/t Ag, 1.4% Pb and 16g/t Ge from 309.50m downhole depth. Results from the laboratory for drill holes HMO-018 and HMO-019 are awaited. Portable XRF readings from hole HMO-019 include: Peak individual values of 50.0% Zn. Peak individual readings up to 18.8% Pb. Peak individual silver values including 179g/t Ag and 163g/t Ag. 2.50% Cu is the highest individual copper reading. The pXRF does not measure germanium. The cleanliness of the pXRF machine is established by measuring a BLANK reference material (a translucent quartz crystal) at the beginning of each day. A Certified Reference Material (CRM) specific to volcanic-hosted massive sulphide Zn-Pb-Cu-Ag-Au ore (ORES 620) is measured for accuracy/precision of the pXRF machine with a reading taken at the beginning of each day. The Molaoi deposit in Greece has a JORC Inferred Mineral Resource of 15.0 million tonnes @ 7.26% Zn, 1.75% Pb and 39.50g/t Ag, for 1.5 million tonnes of ZnEq. metal. This resource uses a 4% low-grade cut, and equates to 1.09 million tonnes of zinc, 260,000 tonnes of lead and 19.1 million ounces of silver. Molaoi is also reported under the UNFC Code with classification E2, F2.1, G3 for Zn, Ag, and Pb, and E3.2, F3.1, G4.1 for Ge. New Risk • Jun 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 22% per year over the past 5 years. Shareholders have been substantially diluted in the past year (112% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (UK£14.0m market cap, or US$18.8m). 
