Rockfire Resources (AIM:ROCK), the explorer, said hand-held XRF readings from hole HMO-021 at its 100%-owned Molaoi zinc deposit in Greece include a 1.5m zone at 300m depth with individual readings of 24.6% zinc and 559g/t silver.
That silver reading is the highest ever recorded at Molaoi, part of a broader push to upgrade the deposit's mineral resource from Inferred to Indicated.
Hole HMO-021 also returned multiple readings between 238m and 248m averaging 6% zinc and 48g/t silver, with peak spot values of 43.2% zinc and 183g/t silver.
A second zone from 271.8m to 274.1m averaged 9.5% zinc and 37.8g/t silver, while a deep lode at 349m returned average grades of 5.5% zinc, 1.7% lead and 37.2% silver, with peak values including 9.9% lead.
Samples have gone to the laboratory for definitive analysis, and hole HMO-022 is now underway.
Separately, Bond Ball Mill work index testing from SLR Consulting again classed Molaoi ore as "Medium-Hard", supporting the use of semi-autogenous grinding over a conventional ball mill circuit, which chief executive David Price said typically carries materially cheaper operating costs.
Compressive strength testing showed 60% of samples can support standard underground open voids, while 40% will need immediate rock bolting, a factor feeding into underground mine design and cost estimates.
Rockfire's own drilling rig, supplied by Epiroc, is expected to arrive in Athens on 18 November.
News Intelligence what this means for the company
Rockfire hit a record 559g/t silver at Molaoi—the highest grade ever recorded at the deposit—alongside strong zinc intersections in hole HMO-021, as infill drilling pushes toward upgrading the resource from Inferred to Indicated classification. Metallurgical work also confirmed the ore responds well to cheaper semi-autogenous grinding, and geotechnical testing showed 60% of samples can support underground open voids without bolting, both factors that feed into mine design and operating cost estimates as the company advances toward a mine reopening application.
The record silver grade and continued high-grade intersections strengthen the economic case for Molaoi, particularly as metallurgical and geotechnical data now support lower-cost processing and underground mining layouts. Resource upgrade to Indicated status remains the near-term catalyst, and the arrival of Rockfire's own drilling rig in mid-November should accelerate infill work.
Insights assembled by AI. Editor-reviewed and grounded in tickstock’s coverage and proprietary knowledge graph.
Content is for informational purposes only, not financial advice.