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(Sharecast News) - Rockfire Resources said drilling at its 100%-owned Molaoi zinc deposit in Greece continued to deliver results in line with expectations, after the successful completion of its third drill hole.
The AIM-traded explorer said hole HMO-010 was drilled to a depth of 275.8 metres and intersected multiple mineralised intervals consistent with its existing resource modelling.
Preliminary portable XRF readings returned peak values of 36.55% zinc, 325 parts per million silver, 5.1% lead and 1.3% copper, with several high-grade zones identified at various depths throughout the hole.
Rockfire noted that all pXRF readings are preliminary and that the identified intervals will be submitted for full laboratory analysis at ALS Laboratories in Ireland.
The company said Molaoi hosts an estimated 19.1 million ounces of silver, with copper known to be present throughout the mineralisation, and added that germanium will be analysed in the laboratory as it is not measured by pXRF equipment.
On completion of the current drilling campaign, Rockfire expects Molaoi to host the only defined inferred resource of germanium in Europe and one of only two quoted germanium resources globally.
"Our drilling program continues well, and our third drill hole has successfully intersected multiple lodes predicted by our mineralisation modelling," said chief executive David Price.
"The portable XRF readings throughout the hole continue to return high values, all of which will be confirmed by full and accurate analysis at the laboratory."
Rockfire said drilling of hole HMO-011 was under way, although operations will pause over the Christmas and New Year period from 20 December, with drilling expected to resume on 12 January.
A second drill rig is also expected to be operational during January 2026.
Price said the zinc resource at Molaoi extended over 2.2 kilometres, with a further 27 holes planned as part of the next phase of drilling.
"Our objective is to increase the zinc/silver/lead resource confidence from Inferred to Indicated and drilling is expected to continue throughout the first half of 2026," he said, adding that the company would continue to update the market as laboratory results are received.
At 1508 GMT, shares in Rockfire Resources were down 7.14% at 0.13p.
Reporting by Josh White for Sharecast.com.