Rockfire Resources (AIM:ROCK) shares dipped, losing 6.7% to 0.14p on Tuesday, after the company reported high-grade assays at Molaoi.
The company, the base metal, critical mineral and precious metal exploration group, said portable XRF readings from HMO-018 returned peak individual values of 47.2% Zn and 46.5% Zn, peak Pb up to 5.3% Pb, silver peaks of 168g/t and 121g/t and a highest individual copper reading of 0.76% Cu, and that laboratory results for HMO-017 and HMO-018 are awaited.
"Strong analytical results from hole HMO-016, together with high grade pXRF results from holes HMO-017 and HMO-018 continue to build the case for a successful upgrade to the Indicated category," said David Price, Chief Executive Officer.
SLR Consulting is monitoring the program and reports the updated drill hole master files imported into Leapfrog were generally error-free, the oxide model has minor thickness changes in the southern and central resource areas, the lithofacies model shows pinch-and-swell geometry, pXRF data from HMO-015 suggests the main lodes are deeper and potentially offset, and pXRF from HMO-016 indicates continuous but thin down-dip mineralised zones.
Rockfire noted the pXRF does not measure germanium and that daily checks include a BLANK quartz reference and a CRM for volcanic-hosted massive sulphide Zn-Pb-Cu-Ag-Au ore (ORES 620) for accuracy.
Results for HMO-017 and HMO-018 are awaited and diamond hole HMO-019 is currently in progress.
