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Rimfire Pacific Mining (ASX: RIM, “Rimfire”) is pleased to announce a maiden scandium Mineral Resource estimate for the Melrose and the northern portion of the Murga area (“Murga North”) prospects, together with an additional Exploration Target for the broader Murga area (excluding Murga North) which are located at Fifield 70 kilometres northwest of Parkes in central NSW (Figure 1).
Highlights
- Maiden Scandium (Sc) Mineral Resources estimated for the Melrose and the northern portion of the Murga area (“Murga North”) comprising;
- 3Mt @ 240 ppm Sc (1,120t Sc Oxide) Indicated and Inferred Mineral Resource at Melrose
- 21Mt @ 125 ppm Sc (4,050t Sc Oxide) Inferred Mineral Resource at Murga North which is open to the south and west
- Significant upside demonstrated by an Exploration Target for the broader Murga area and pipeline of satellite scandium prospects
- Infill aircore (on 50m x 50m centres) and diamond drilling planned to upgrade Murga North Mineral Resource
- Aircore drilling (on 100m x 100m centres) planned to potentially convert the Exploration Target into a Mineral Resource
- Planned drilling commencing October 2024 fully funded by Rimfire’s exploration partner - GPR
Commenting on the announcement, Rimfire’s Managing Director Mr David Hutton said: “Declaring maiden Scandium Mineral Resources for Melrose and Murga North is an important first step in achieving our objective of building a globally significant scandium resource inventory at Fifield.
An accompanying Exploration Target for the broader Murga area also highlights the excellent potential to build upon the maiden Mineral Resources (See Cautionary Statement below)”.
Cautionary Statement: The potential quantity and grade of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Figure 1: Location of Melrose and Murga prospects
Resource Estimate Details
H&S Consultants Pty Ltd (HSC) were engaged by Rimfire to undertake a Mineral Resource Estimate for the Melrose and Murga North Scandium Prospects. The Mineral Resources are reported in accordance with the 2012 JORC Code and Guidelines using a 100ppm scandium cutoff grade (see Tables 1 – 2).
Material Information Used to estimate the Mineral Resources is given in Appendix One and Table 1 (Sections 1 to 3) of this ASX Announcement.
Melrose Scandium Deposit Mineral Resource Estimate (100ppm Sc cut-off grade). *Sc tonnage multiplied by 1.53 to convert to Sc2O3. Table includes minor rounding errors.
Figure 2: Scandium Block Grade Distribution for the Melrose Mineral Resources with drillhole collars in green
Murga North Scandium Deposit Mineral Resource Estimate (100ppm Sc cut-off grade).*Sc tonnage multiplied by 1.53 to convert to Sc2O3.
Figure 3: Scandium Block Grade Distribution for the Murga Mineral Resources with drillhole collars in green
In addition, HSC also defined an Exploration Target for the broader Murga area (excluding the Murga North Mineral Resource).
It is based on an outline of the scandium-bearing pyroxenite interpreted from aeromagnetic data and results of Rimfire’s 2024 reconnaissance aircore drilling (on nominal 400m x 400m centres) throughout the Murga area.
The boundaries of the Exploration Target are shown in Figure 4 and an average thickness of 15 metres has been assumed along with a default density of 2.15t/m3. However, it is unknown at this stage if the whole outlined area will have reasonable prospects for eventual extraction so it has been assumed that only 50% of the area within the pyroxenite outline will be classified as the Exploration Target.
The Exploration Target for the broader Murga area is: 100 to 200Mt at 100 to 200ppm Sc
Cautionary Statement: The potential quantity and grade of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
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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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High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, 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.
Rimfire Pacific Mining Investor Kit
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