Rockfire Resources PLC said Thursday that the Greek government has approved its environmental study permit at the Molaoi zinc deposit.
The metal-exploration company said the application was for resource definition and step-out drilling for the next five years, giving it authority to drill. However, Rockfire said it intends to expedite drilling and complete as much as possible in 2023.
A total of 179 holes have already been drilled at the site by the Greek government, so all future drilling is building confidence in a deposit which is already well defined, the company said.
Plans for the rest of 2023 are designed to upgrade the resource from inferred to the measured and indicated categories, and following this, the company will complete a feasibility study as soon as possible, it said.
“We remain on track to achieve this milestone and the granting of this permit is a very important step in our development plans,” Chief Executive David Price said.
The company had said in August that tests at the site returned strong recoveries and concentrate grades for zinc, silver, lead and germanium, along with copper and gold presence in the concentrate.
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