Rockfire Resources has identified additional zinc and germanium mineralisation at its Molaoi project in Greece, prompting a revision of the deposit’s geological model and delaying the first JORC-compliant germanium resource estimate by several weeks.
The new findings add to the complexity of a deposit extending approximately two kilometres, where drilling is identifying multiple mineralised horizons. The company is also assessing ore-sorting technology and conducting technical work ahead of a feasibility study planned for 2027. Molaoi already hosts a zinc, lead and silver resource, while the additional germanium potential could broaden the project’s role in European critical-mineral supply chains.
New Lodes Require Changes to the Geological Model
The latest drilling, in hole HMO-022, reached 308.90 metres and intersected five separate zinc-bearing lodes. One interval at approximately 293 metres depth extended around 1.5 metres, with portable X-ray fluorescence readings reaching 47.7% zinc. These measurements are preliminary and have not been confirmed by laboratory assays. Core samples have been submitted for independent analysis to establish actual metal grades and the geological characteristics of the intersections.
The additional mineralised zones have required consultants to revise the zinc resource interpretation and incorporate more germanium-bearing lenses. More than 1,360 individual zinc and germanium lode intercepts are being assessed across the deposit.
The modelling work includes changes to the interpreted dip of mineralised structures and the reassignment of previously modelled intersections. GeoRes Mining Consultants is conducting the assessment, which will establish Molaoi’s first formal germanium resource alongside an updated zinc model. The revised publication schedule reflects the additional geological work required to incorporate the new zones. The company has not disclosed any deterioration in the project’s development potential.
Existing Resource Contains Zinc, Lead and Silver
Molaoi currently has a JORC Inferred mineral resource of approximately 15 million tonnes, grading 7.26% zinc, 1.75% lead and 39.5 grams per tonne silver.
According to the company’s published figures, the resource contains an estimated 1.09 million tonnes of zinc, 260,000 tonnes of lead and 19.1 million ounces of silver. Germanium has not yet been quantified through a dedicated mineral resource estimate. Earlier laboratory-confirmed results from hole HMO-021 included an 11-metre intersection grading 5.0% zinc, 19 grams per tonne silver and 8 grams per tonne germanium, alongside narrower intervals with higher metal concentrations.
The results support the presence of germanium alongside the main zinc mineralisation, although its distribution, recoverability and potential commercial contribution remain to be established. Diamond drilling is continuing, with hole HMO-023 underway. Rockfire aims to increase confidence in the resource and upgrade parts of the Inferred classification to Indicated, providing a stronger basis for mine planning and future economic assessments.
TOMRA Tests Ore-Sorting Technology
Rockfire has commissioned Norwegian technology company TOMRA to conduct initial tests on material representative of the expected Molaoi ore feed. The testing has been completed, but results had not been disclosed in the company’s October 27 announcement. The programme is examining whether automated sorting can separate mineralised material from lower-value rock before conventional grinding and processing. Successful pre-concentration could increase the average grade entering the processing plant while reducing the volume of material requiring energy-intensive comminution.
For a potential zinc-lead operation, this could influence processing throughput, electricity consumption, operating costs, tailings volumes and plant design. The actual benefits will depend on separation efficiency, equipment costs and the system’s ability to retain economically valuable minerals.
A key consideration is the treatment of germanium-bearing material. Removing lower-grade rock could improve zinc feed grades, but the process would need to avoid discarding germanium or other recoverable metals. The sorting technology therefore needs to be assessed against the combined recovery and economic performance of the processing system, rather than zinc grade improvement alone. Rockfire expects the test results to contribute to the technical assessments for its planned 2027 feasibility study.
Germanium Adds a Critical-Minerals Dimension
The potential germanium component extends Molaoi’s development prospects beyond conventional zinc and lead production. Germanium is used in infrared optical systems, high-speed communications, semiconductors, advanced electronics and certain solar technologies. The European Union considers the metal a strategic raw material because of its industrial applications and concentrated global supply chain. China remains the dominant producer, while European industrial consumers have limited alternative sources.
The EU’s Critical Raw Materials Act seeks to expand extraction and processing capacity and diversify supply relationships. Projects capable of producing commercially recoverable critical minerals could contribute to those objectives.
For Molaoi, however, the opportunity depends on demonstrating that germanium can be recovered efficiently alongside zinc and other metals. As germanium is commonly produced as a by-product of base-metal refining, identifying mineralisation is only the first step towards establishing a commercial supply.
Further work must demonstrate recovery efficiencies, suitable processing technology, product specifications and access to qualified downstream refining partners. A defined germanium resource alone would not establish that the metal can be produced in a saleable form. A resource estimate supported by successful metallurgical testing could strengthen the project’s appeal to strategic investors, industrial buyers and specialist financing institutions seeking to diversify European critical-mineral supplies.
Magnetic Survey and Further Technical Work
Rockfire has also completed a drone-based magnetic survey across the Molaoi licence. The data are being processed and interpreted to improve geological understanding and identify structural features that could influence the continuity and location of mineralised zones. Combined with ongoing drilling, the survey is expected to support further refinement of the resource model and guide exploration.
The next development stage will bring together the maiden germanium resource, updated zinc model, laboratory-confirmed drilling results, improved geological confidence and ore-sorting test findings.
These workstreams will feed into broader assessments of mining methods, infrastructure, environmental requirements, permitting, capital expenditure and operating costs. Although germanium could add value if recovered alongside zinc and lead without substantially increasing processing complexity, its contribution to the project’s economics remains unquantified. The commercial case will depend on establishing both technical recoverability and economic viability through resource definition, laboratory assays and metallurgical studies.
