Rimfire Pacific Mining Ltd (ASX:RIM) Announces New High-Grade Scandium Opportunity
Highlights
Rimfire Pacific Mining Ltd (ASX:RIM) has confirmed the Currajong Prospect as a new high-grade scandium opportunity, with historic drill intercepts indicating significant scandium potential.
Scandium Potential
Historic drilling at Currajong Prospect returned multiple scandium intercepts, including 32m @ 0.16%Ni, 0.04%Co, 287ppm Sc and other significant results. The scandium zone spans 1,000m x 300m and remains open for further exploration. Rimfire plans to conduct up to 200 holes and 10,000m of air core drilling in late February 2025, pending regulatory approvals.
Future Drilling Plans
The upcoming drilling program aims to expand the scandium resource, with extensive air core drilling scheduled to begin in February 2025. The results will support the planning for a maiden Mineral Resource estimate for Currajong and will contribute to Rimfire’s goal of building a globally significant scandium inventory at Fifield.
Executive Comments
Managing Director and CEO David Hutton stated, “Our geologists have recently completed a review of the historic Currajong nickel cobalt PGE prospect and found that while less than half of the historic drilling was assayed for scandium, there was still sufficient data to show that Currajong represents a new high-grade scandium opportunity for Rimfire and its shareholders.”
Motley Fool contributor Abbie Stokes 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.