Rimfire Pacific Mining Ltd (ASX:RIM) Reports High-Grade Scandium Drilling Results
Drilling Highlights
Rimfire Pacific Mining Ltd (ASX: RIM) has announced exceptional results from its recent infill air core drilling program at the Murga Exploration Target. The latest phase included 61 holes over 1,276m, yielding the highest grade scandium intercept to date, featuring 16m at 327ppm Sc from 13m, including 9m at 404ppm Sc.
Multiple other intercepts confirmed strong scandium mineralisation across various drill holes. Significant assays included 22m at 250ppm Sc and 5m at 317ppm Sc from surface variations.
Future Drilling Plans
As part of ongoing exploration, diamond drilling is currently underway to obtain metallurgical samples and assess the scandium potential of underlying rocks. The company’s strategy aims to convert the Murga Exploration Target into a Mineral Resource estimate.
Managing Director David Hutton stated, “The latest drilling results, which include the highest-grade intercept to date, upgrade the Murga area and clearly demonstrate that we are well on our way to converting the Murga Exploration Target into a Mineral Resource.”
Rimfire plans additional air core drilling in the March 2025 quarter, with updates expected as further results are obtained. The drilling programs are fully funded by Rimfire and are vital for progressing the exploration initiatives at Murga.
Exploration Context
The Murga Exploration Target is located near Fifield, New South Wales, over ultramafic intrusive rocks. The area has been under exploration for its scandium potential, with previous estimates indicating a Mineral Resource of 21Mt at 125ppm Sc already established.
The Company has validated magnetic data as a key criterion in identifying prospective areas, further enhancing the understanding of the geological framework for resource development.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.