Rimfire Pacific Mining Gains After Drilling Thick Zones Of Scandium At Murga

Rimfire Pacific Mining Ltd (ASX: RIM) has defined thick zones of strong scandium anomalism from surface at the Murga Scandium Prospect.

The 100-hole air core drilling program targeted multiple locations at the prospect within Rimfire’s Fifield Project in New South Wales.

Notably, thick zones of scandium were defined throughout the 20 square kilometre Murga Intrusive Complex, including:

  • 22m (metres) at 232ppm Sc (scandium) from surface including 12m at 305ppm Sc; and
  • 22m at 156ppm Sc from 2m including 4m @ 220ppm Sc.

Aiming for a significant resource

Rimfire Managing Director David Hutton said: “Building on last year’s successful reconnaissance drilling we have now identified multiple locations at Murga where thick zones of strong scandium are present over large areas from surface.”

He noted that Rimfire’s primary objective is to build a globally significant scandium resource inventory at its Fifield and Avondale Projects.

“The Murga intersections announced today in conjunction with the upcoming Melrose resource are the first components in satisfying that objective,” added Hutton.

Rimfire shares rose 16% intra-day following the announcement, trading at A$0.032.

Next steps

Rimfire has resubmitted 270 of the most anomalous samples for additional scandium analysis using the lithium borate fusion digestion method.

The additional assaying aims to confirm and potentially increase the scandium assay values obtained from the 4-acid digestion method.

Moving ahead, further air core drilling to determine the lateral extents of the scandium and to test the additional magnetic targets is planned for late June 2024 quarter.

Diamond drilling is also planned to obtain samples for metallurgical test work and to provide further geological information.

 

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