Multiple Thick Scandium Zones at Murga

Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Company”) is pleased to advise that a recent 100-hole air core drilling program has successfully defined thick zones of strong scandium anomalism from surface, across multiple locations at the Murga Scandium Prospect which is located on Rimfire’s Fifield Project 70kms NW of Parkes NSW (Figure 1).

Highlights

• Thick zones of strong scandium anomalism defined from surface across multiple locations throughout 20km² Murga Intrusive Complex (true widths);
  • 22m @ 232ppm Sc from surface incl 12m @ 305ppm Sc,
  • 22m @ 156ppm Sc from 2m incl 4m @ 220ppm Sc,
  • 28m @ 148ppm Sc from 5m incl 6m @ 291ppm Sc,
  • 13m @ 188ppm Sc from 3m incl 4m @ 248ppm Sc,
  • 18m @ 174ppm Sc from 1m incl 3m @ 226ppm Sc
• Drill Intercepts remain open in all directions with further air core and diamond drilling planned to determine the lateral extents of the scandium at each location
• Scandium occurs within a flat-lying weathered saprolite horizon developed on top of ultramafic (pyroxenite) intrusive rocks

Rimfire’s primary objective is to build a globally significant scandium resource inventory at our Fifield and Avondale Projects. The Murga intersections announced today in conjunction with the upcoming Melrose resource are the first components in satisfying that objective.

Rimfire offers unique ASX exposure to scandium and we feel that the shallow mineralisation which occurs over a large footprint gives rise to the potential for Murga to host a large-scale scandium resource”.

Drilling details

100 Air core holes (FI2472 to FI2571 - 2,664 metres: Table 1) were drilled to determine the significance of a Rimfire 2023 reconnaissance air core drilling program which successfully intersected strongly anomalous scandium in multiple drillholes at Murga (See Rimfire ASX Announcement dated 3 October 2023).

At Murga, scandium occurs within a flat – lying weathered saprolite (clay) horizon overlying magnetic ultramafic (pyroxenite) intrusive rocks of the Ordovician-age Murga Intrusive Complex, which have been demonstrated from previous drilling at both Murga and the adjacent Melrose Prospect to be intimately associated with scandium mineralisation (See Rimfire ASX Announcement dated 6 December 2023).

The most recent air core holes were drilled on 100 x 100 metre centres at Murga North and on 400 x 400 metre centres over the remainder of the Murga Intrusive Complex. In total the drilling was carried out over an area of approximately 20km² with locations shown in Figures 4 and 5.

The drilling has successfully defined an initial 4 areas - Murga North, Murga Northwest, Murga East and Murga South within the Murga Intrusive Complex for immediate drill follow up Figures 2 - 6).

All are characterised by thick vertical widths of strong scandium anomalism (+100ppm) with little of no associated nickel and / or cobalt anomalism which is in contrast to other scandium prospects in the area.

Significantly all the areas remain open and further drilling is required to determine the lateral extents of the scandium at each location.

Also, several magnetic features within the Murga Intrusive Complex that were not assessed by this phase of air core drilling have (based on the latest drilling results) been subsequently identified as new scandium targets for drill testing. These targets are additional to the 4 areas detailed below and include a +1 kilometre – long, WNW trending linear magnetic feature immediately west of the Murga East scandium area (Figure 2).

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