Zinc added to UK Critical Mineral List

5 December 2024

Rockfire Resources plc

("Rockfire" or the "Company")

Zinc added to UK Critical Mineral List  

Rockfire Resources plc (LON: ROCK), the base metal, precious metal, and critical mineral exploration company, wishes to inform the market that the United Kingdom Critical Minerals Intelligence Centre has added zinc to its official list of minerals which are in critical short supply. The UK Critical Minerals Intelligence Centre is a collaboration between the UK Department of Business & Trade and the British Geological Survey.

Zinc being added to the UK critical minerals list is likely to have a highly significant positive impact on the Company's 100%-owned Molaoi zinc project in Greece, which hosts over 1 million tonnes of zinc metal and is ranked among the top 20 undeveloped zinc deposits globally.

Zinc is also included on the US, Canadian and Korean critical mineral lists. There are risks to the supply of zinc based on refining and concentration and the UK has a high dependence on zinc importation.

Zinc is primarily used for galvanising and protecting steel against rusting. Owing to the number of applications for protection again rusting, zinc is globally important to the automotive, marine, manufacturing, industrial, agricultural, construction and aviation industries.

Corrosion of steel costs US$2.5 trillion each year, which represents 3.4% of global GDP. (impact.nace.org/economic-impact.aspx) Zinc is also used to protect wind turbines and solar cells from the elements.

Zinc is essential for many day-to-day applications, including being an ingredient in many brands of soap, shampoo, paint, toothpaste, health supplements, insect repellent, rubber, ink, cosmetics and pharmaceuticals.

Molaoi is a developing project in Greece to help Europe meet its ambitions for a domestic supply of critical raw materials, including zinc and the geologically rare mineral, germanium.

David Price, Chief Executive Officer of Rockfire, commented:

"The addition of zinc to the UK critical mineral list is wonderful news for Rockfire and validates our strategy to secure globally important deposits of minerals and metals which are and will become critical for the maintenance of civilisation."

"Rockfire now has zinc, copper, germanium and molybdenum assets, all of which are listed as critical in many jurisdictions. Our work will continue towards development of Molaoi, as well as expanding the already-large resource towards the north. Rockfire's management believes that the resource of zinc at Molaoi is capable of significant upside."

"The Molaoi project in Greece is within a respected, highly prospective and mining-friendly jurisdiction. It is testimony to the Greek government's commitment to attract and facilitate inward investment into Greece and the government has been strongly supportive of our activities."

"We will continue to update the market as our exploration and development efforts continue."

For further information on the Company, please visit www.rockfireresources.com or contact the following: 

Notes to Editors

Rockfire Resources plc (LON: ROCK) is a gold, base metal and critical mineral exploration company, with a high-grade zinc/lead/silver/germanium deposit in Greece and a portfolio of gold/copper/silver projects in Queensland Australia.

The Molaoi deposit in Greece has a JORC Inferred Mineral Resource of 15 million tonnes @ 7.26 % Zn, 1.75 % Pb and 39.5 g/t Ag, for 1.09 million tonnes of zinc, 260,000 tonnes of lead and 19.1 million ounces of silver.

The Plateau deposit in Queensland has a JORC Inferred resource of 131,300 ounces of gold and 800,000 ounces of silver. Plateau is subject to a joint venture with ASX-listed Sunshine Metals Ltd (ASX:SHN).

The Copperhead porphyry deposit in Queensland has a JORC resource of 80,000 tonnes of copper, 9,400 tonnes of molybdenum and 1.1 million ounces of silver.

Glossary

Qualified Person Statement

The technical information in this announcement is based on information compiled by Mr David Price, the Chief Executive Officer of Rockfire Resources plc, who is a Fellow of the Australasian Institute of Mining and Metallurgy (F.AusIMM). Mr Price has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a "Qualified Person" in accordance with the AIM Rules Guidance Note for Mining and Oil & Gas Companies. Mr Price consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.