(Alliance News) - Rockfire Resources PLC on Monday said that it has intersected a "very wide and strongly mineralised" zinc zone at depth at the Molaoi zinc deposit in Greece.

Rockfire, which is a Greece and Australia-focused gold, base metal and critical mineral exploration company, said that the extensive intercept of zinc, silver and lead "demonstrates the quality of this deposit".

More specifically, hole HMO-004 intersected wide and strong mineralisation at depth, with a continuous zone averaging 24.6 metres at 8% zinc equivalent intersected, starting from 243.42 metre depth.

The resource is likely to be expanded at depth and along strike once all drilling analyses are complete. Accordingly, the discovery is expected to result in a material increase in resource tonnage.

A revised resource estimate is currently in progress.

Shares in Rockfire Resources closed 11% higher at 0.21 pence each in London on Monday.

By Holly Beveridge, Alliance News reporter

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