Rimfire Pacific Mining Limited

Compelling Cobalt Copper and REE Targets Identified at Broken Hill

Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Company”) is pleased to advise that multiple cobalt, copper, and Rare Earth Element [REE] targets have been identified at its recently expanded 100% - owned Broken Hill Project which is located 17-30 kilometres west of Broken Hill, NSW (Figures 1 and 2).


Highlights

  • Detailed ground magnetics identifies a potential extension to high grade cobalt mineralisation drilled by Rimfire at Bald Hill last year, including;
    • 125m @ 0.13% Co from 198 metres in FI2470 including 97m @ 0.15% Co
  • Bald Hill Extension magnetic anomaly which has not been drilled present over 450 x 400m to a vertical depth of ~300m
  • Additional magnetic anomalies identified 2km northeast of Bald Hill with initial rock chip samples up to 0.72% cobalt and 0.46% copper
  • Rimfire will shortly commence reconnaissance mapping & sampling to refine new targets and plan for drilling in 2H CY24

Commenting on the announcement, Rimfire’s Managing Director Mr David Hutton said: “Rimfire is exploring throughout New South Wales for critical minerals that are associated with global decarbonisation strategies, such as scandium, PGEs, copper, and cobalt.

While we remain firmly focussed on the scandium exploration program currently underway at Fifield and Avondale, we are also keen to advance our recently expanded Broken Hill Project.

Broken Hill is shaping up as a compelling exploration opportunity for Rimfire with ground magnetics highlighting a potential extension to high grade cobalt sulphides drilled last year at Bald Hill, as well as the cobalt, copper and REE targets outlined in this announcement.

With executed Access Agreements in place, we will shortly commence a ground inspection of the targets with a view to drill testing during the second half of 2024 and look forward to further market updates as new information comes to hand.”


Click here for the full ASX Release

This article includes content from Rimfire Pacific Mining Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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