Rimfire Pacific Mining (ASX: RIM, “Rimfire”) is happy to announce a maiden scandium Mineral Useful resource estimate for the Melrose and the northern portion of the Murga space (“Murga North”) prospects, along with a further Exploration Goal for the broader Murga space (excluding Murga North) that are positioned at Fifield 70 kilometres northwest of Parkes in central NSW (Determine 1).
Highlights
- Maiden Scandium (Sc) Mineral Assets estimated for the Melrose and the northern portion of the Murga space (“Murga North”) comprising;
- 3Mt @ 240 ppm Sc (1,120t Sc Oxide) Indicated and Inferred Mineral Useful resource at Melrose
- 21Mt @ 125 ppm Sc (4,050t Sc Oxide) Inferred Mineral Useful resource at Murga North which is open to the south and west
- Vital upside demonstrated by an Exploration Goal for the broader Murga space and pipeline of satellite tv for pc scandium prospects
- Infill aircore (on 50m x 50m centres) and diamond drilling deliberate to improve Murga North Mineral Useful resource
- Aircore drilling (on 100m x 100m centres) deliberate to doubtlessly convert the Exploration Goal right into a Mineral Useful resource
- Deliberate drilling commencing October 2024 totally funded by Rimfire’s exploration associate – GPR
Commenting on the announcement, Rimfire’s Managing Director Mr David Hutton stated: “Declaring maiden Scandium Mineral Assets for Melrose and Murga North is a crucial first step in attaining our goal of constructing a globally vital scandium useful resource stock at Fifield.
An accompanying Exploration Goal for the broader Murga space additionally highlights the superb potential to construct upon the maiden Mineral Assets (See Cautionary Assertion under)”.
Cautionary Assertion: The potential amount and grade of the Exploration Goal is conceptual in nature and there was inadequate exploration to estimate a Mineral Useful resource, and it’s unsure if additional exploration will outcome within the estimation of a Mineral Useful resource.
Determine 1: Location of Melrose and Murga prospects
Useful resource Estimate Particulars
H&S Consultants Pty Ltd (HSC) have been engaged by Rimfire to undertake a Mineral Useful resource Estimate for the Melrose and Murga North Scandium Prospects. The Mineral Assets are reported in accordance with the 2012 JORC Code and Pointers utilizing a 100ppm scandium cutoff grade (see Tables 1 – 2).
Materials Info Used to estimate the Mineral Assets is given in Appendix One and Desk 1 (Sections 1 to three) of this ASX Announcement.
Melrose Scandium Deposit Mineral Useful resource Estimate (100ppm Sc cut-off grade). *Sc tonnage multiplied by 1.53 to transform to Sc2O3. Desk contains minor rounding errors.
Determine 2: Scandium Block Grade Distribution for the Melrose Mineral Assets with drillhole collars in inexperienced
Murga North Scandium Deposit Mineral Useful resource Estimate (100ppm Sc cut-off grade).*Sc tonnage multiplied by 1.53 to transform to Sc2O3.
Determine 3: Scandium Block Grade Distribution for the Murga Mineral Assets with drillhole collars in inexperienced
As well as, HSC additionally outlined an Exploration Goal for the broader Murga space (excluding the Murga North Mineral Useful resource).
It’s primarily based on an overview of the scandium-bearing pyroxenite interpreted from aeromagnetic knowledge and outcomes of Rimfire’s 2024 reconnaissance aircore drilling (on nominal 400m x 400m centres) all through the Murga space.
The boundaries of the Exploration Goal are proven in Determine 4 and a mean thickness of 15 metres has been assumed together with a default density of two.15t/m3. Nonetheless, it’s unknown at this stage if the entire outlined space could have affordable prospects for eventual extraction so it has been assumed that solely 50% of the realm throughout the pyroxenite define shall be categorised because the Exploration Goal.
The Exploration Goal for the broader Murga space is: 100 to 200Mt at 100 to 200ppm Sc
Cautionary Assertion: The potential amount and grade of the Exploration Goal is conceptual in nature and there was inadequate exploration to estimate a Mineral Useful resource, and it’s unsure if additional exploration will outcome within the estimation of a Mineral Useful resource.
Click on right here for the complete ASX Launch
This text contains content material from Rimfire Pacific Mining Restricted, licensed for the aim of publishing on Investing Information Australia. This text doesn’t represent monetary product recommendation. It’s your duty to carry out correct due diligence earlier than appearing upon any info supplied right here. Please seek advice from our full disclaimer right here.
