Diamond Drilling Underway at Bald Hill Cobalt Copper Prospect, Broken Hill

Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Company”) is pleased to advise that a 1,000-metre diamond drill program has commenced at its 100% - owned Bald Hill Copper Cobalt Prospect (Broken Hill Project) which is located 30 kilometres west of Broken Hill, NSW (Figures 1 and 2).

Highlights

• 1,000m diamond drill program testing for extensions to previously obtained high grade drill intercepts at Bald Hill, e.g.;
  • 125m @ 0.13% Co from 198m incl 97m @ 0.15% Co,
  • 58m @ 0.13% Co from 62m incl 12m @ 0.24% Co and 17m @ 0.15% Co,
  • 33m @ 0.11% Co from 58m incl 4m @ 0.23% Co and 2m @ 0.21% Co, and
  • 6m @ 0.51% Cu from 56m in FI2471
• Drilling will also test a very strong magnetic anomaly which is interpreted to be a potential extension to the previously demonstrated Bald Hill cobalt and copper mineralisation
• Rimfire’s Broken Hill Project lies within same geological domain as the Mutooroo Deposit (HAV.ASX) - 191Kt copper, 20Kt cobalt and 86Koz gold and the Broken Hill Cobalt Project (COB.ASX) - 87Kt cobalt
• Drilling assay results expected by mid-October 2024

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 delivering a maiden scandium JORC resource at Fifield and Avondale, we are also keen to advance our highly prospective Broken Hill Project especially the Bald Hill prospect.

Given the existing drill intercepts coincide with an outstanding magnetic anomaly along strike and with all targets lying within a favourable geological setting we think that Bald Hill is an exciting opportunity to discover a significant cobalt and copper deposit. We look forward to providing further market updates as new information comes to hand.”

Drilling will test the significance of a very strong magnetic anomaly interpreted to be a potential extension to previously drilled high-grade cobalt (Co) and copper (Cu) mineralisation at Bald Hill, (See Rimfire ASX Announcement dated 18 September 2023), i.e.;

• 33m @ 0.11% Co from 58 metres in FI2469 including 4m @ 0.23% Co and 2m @ 0.21% Co
• 100m @ 0.08% Co from 71 metres in FI2470 including 68m @ 0.10% Co,
• 125m @ 0.13% Co from 198 metres in FI2470 including 97m @ 0.15% Co,
• 58m @ 0.13% Co from 62 metres in FI2471 including 12m @ 0.24% Co and 17m @ 0.15% Co, and
• 6m @ 0.51% Cu from 56 metres in FI2471.

Mineralisation at Bald Hill is associated with a greater abundance of sulphides with zones of coarse-grained semi-massive pyrite / pyrrhotite (plus lesser amounts of chalcopyrite and sphalerite) hosting individual single metre grades of up to 0.79% Co (FI2471 – 67 to 68 metres).

Detailed ground magnetic surveying (on 50m spaced east west lines) undertaken post the 2023 drilling identified a very strong magnetic anomaly [peak value – 57,744nT] coincident with and extending from the cobalt and copper drill intercepts (See Figures 3 – 5).

The Bald Hill magnetic anomaly trends NNE, dips to the southeast, and has a near surface extent of 450 x 400 metres and extends to a vertical depth of approximately 300 metres below surface. 3D modelling suggests that the anomaly plunges to the southeast with Rimfire’s 2023 diamond holes just “clipping” the top of the anomaly.

This is highly significant as the Bald Hill mineralisation is intimately associated with magnetic minerals, i.e. pyrrhotite and magnetite, and as such the magnetic anomaly is interpreted to be “mapping” a potential extension to existing cobalt and copper mineralisation.

Diamond drillholes will be positioned specifically to intersect the magnetic anomaly to confirm its significance.

Plenty of upside with additional targets identified

In addition to Bald Hill, several other targets have been identified across the Broken Hill Project from a review of historic exploration data – principally aeromagnetic and gravity geophysical data, drilling data and surface geochemistry. Ground magnetic surveying, geological mapping and rock chip sampling undertaken by Rimfire during the last 12 months have refined the targets.

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.