Bald Hill Confirmed as a High-Grade Cobalt Opportunity

Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Company”) is pleased to advise that all remaining drill assays have now been received for a step out diamond drilling program completed during the September 2024 Quarter at the 100% - owned Bald Hill Cobalt Copper Prospect which is located approximately 30 kilometres west of Broken Hill, NSW (Figure 1).

Highlights

• Further high-grade cobalt sulphide mineralisation returned from step out diamond drilling 30km west of Broken Hill at Rimfire’s 100% - owned Bald Hill prospect;
  • 18m @ 0.16% Co, 0.16% Cu from 110m in FI2612 including 5m @ 0.21% Co, 0.23% Cu
  • 29m @ 0.17% Co, 0.10% Cu from 67m in FI2613,
  • 17m @ 0.16% Co, 0.11% Cu from 152m in FI2613,
  • 16m @ 0.16% Co, 0.11% Cu from 173m in FI2613,
  • 63m @ 0.18% Co, 0.08% Cu from 118m in FI2614, including 11m @ 0.21 % Co, 0.1% Cu and 9m @ 0.22% Co, 0.09% Cu,
  • 21m @ 0.15% Co, 0.07% Cu from 211m in FI2614,
  • 31m @ 0.12% Co, 0.07% Cu from 129m in FI2615. including 10m @ 0.14% Co, 0.08% Cu and 13m @ 0.14% Co, 0.08% Cu,
• Rimfire’s drilling to date indicates that Bald Hill hosts some of the highest-grade cobalt mineralisation in the Broken Hill district
• Strong copper anomalism associated with the cobalt highlights the significant copper potential at Bald Hill

Commenting on the announcement, Rimfire’s Managing Director Mr David Hutton said: “The latest drilling has substantially expanded the known sulphide hosted mineralised footprint at Rimfire’s 100%-owned Bald Hill cobalt-copper prospect to over 500m by 200m in area.

We continue to intersect some of the highest-grade cobalt sulphides in the district and the presence of associated copper highlights the potential to find significant copper mineralisation at Bald Hill with further drilling.

While Bald Hill remains open and there are plenty of other cobalt targets to follow up, we are mindful of the current cobalt commodity prices and believe enough work has now been completed to demonstrate the prospect’s significance, which can be leveraged when commodity prices improve in the future.

 We will continue to assess the Broken Hill Project but only at a level of activity that doesn’t detract from the company’s flagship Fifield scandium assets, which represent the strategic and commercial priorities for the Company and its shareholders right now.”

Bald Hill diamond drilling results

Cobalt mineralisation and associated copper anomalism at Bald Hill occurs within a folded and faulted sulphide-bearing quartz - albite psammopelitic composite gneiss unit which broadly dips to the east and is underlain by a barren quartz – potassium feldspar gneiss.

Cobalt and copper are associated with disseminated to semi massive sulphides (pyrite – pyrrhotite +/- chalcopyrite) that are locally brecciated, and silica altered.

5 diamond holes (FI2612 – FI2616 / 974 metres) were drilled through August and September 2024 to test for extensions of previously drilled high-grade cobalt (Co) mineralisation at Bald Hill, e.g., 33m @ 0.11% Co from 58 metres in FI2469 including 4m @ 0.23% Co and 2m @ 0.21% Co, and 125m @ 0.13% Co from 198 metres in FI2470 including 97m @ 0.15% Co (see Rimfire’s ASX Announcement dated 8 Augst 2024).

Each of the new drillholes intersected multiple broad zones (downhole widths) of sulphides 100 – 300 metres away from Rimfire’s previous high-grade drill intercepts (see Table 1 for drill hole specifications) with assay results returning (Figures 2 and 3);

• 2m @ 0.37% Cu from 63 metres in FI2612,
• 29m @ 0.12% Co from 66 metres in Fi2612,
• 18m @ 0.16% Co, 0.16% Cu from 110 metres in FI2612 including 5m @ 0.21% Co, 0.23% Cu
• 29m @ 0.17% Co, 0.10% Cu from 67 metres in FI2613,
• 20.6m @ 0.13% Co, 0.09% Cu from 96.4 metres in FI2613,
• 17m @ 0.16% Co, 0.11% Cu from 152 metres in FI2613,
• 16m @ 0.16% Co, 0.11% Cu from 173 metres in FI2613,
• 63m @ 0.18% Co, 0.08% Cu from 118 metres in FI2614, including 11m @ 0.21 % Co, 0.1% Cu and 9m @ 0.22% Co, 0.09% Cu,
• 6m @ 0.14% Co, 0.08% Cu from 185 metres in FI2614,
• 21m @ 0.15% Co, 0.07% Cu from 211 metres in FI2614,
• 9m @ 0.14% Co, 0.04% Cu from 129 metres in FI2615,
• 31m @ 0.12% Co, 0.07% Cu from 129 metres in FI2615, including 10m @ 0.14% Co, 0.08% Cu and 13m @ 0.14% Co, 0.08% Cu,
• 1m @ 0.11% Co, 0.09% Cu from 74 metres in FI2616,
• 1m @ 0.12% Co, 0.06% Cu from 83 metres in FI2616, and
• 1m @ 0.14% Co, 0.05% Cu from 97 metres in FI2616.

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