Rimfire Pacific Mining (ASX:RIM) has began a scandium aircore drilling program on the Murga exploration goal at its Fifield venture in New South Wales, the corporate mentioned in a press launch on October 24.
Managing Director David Hutton mentioned that is the following step in establishing a useful resource for the goal.
“Along with the Melrose and Murga North Mineral Sources, Rimfire is effectively on the best way to attaining its main goal of constructing a globally vital scandium useful resource stock at Fifield,” he mentioned.
Rimfire notes that New South Wales has the best concentrations of scandium on the planet, and describes the Fifield space as “Australia’s scandium hotspot.” It holds among the highest-grade scandium deposits globally. Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Dawn Power Metals (ASX:SRL,OTCQX:SREMF) even have initiatives within the space.
The Murga exploration goal is “primarily based on an overview of the scandium-bearing pyroxenite interpreted from aeromagnetic information and outcomes of a 2024 reconnaissance aircore drilling all through the Murga space.”
On September 5, Rimfire launched maiden scandium sources for Melrose and Murga North. For Melrose it reported 3 million tonnes at 240 components per million scandium within the indicated and inferred classes. For Murga North, the corporate outlined 21 million tonnes at 125 components per million scandium within the inferred class.
Drilling on the Murga exploration goal can be solely funded by Rimfire, and is a part of a deliberate bigger drilling program that can resume in November when the present drill rig turns into accessible once more.
Completion of the Murga aircore drilling will take roughly two weeks. Outcomes are anticipated 4 weeks after.
Scandium is listed as a essential mineral in Australia and elsewhere, and lacks secure provide. Rimfire mentioned it continues to eye different prospects close to Murga such Currajong, which has nickel-cobalt-scandium mineralisation.
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Securities Disclosure: I, Gabrielle de la Cruz, maintain no direct funding curiosity in any firm talked about on this article.
Editorial Disclosure: Rimfire Pacific Mining is a shopper of the Investing Information Community. This text just isn’t paid-for content material.
