Rimfire Pacific Mining (ASX: RIM, 'Rimfire' or 'the Company') is pleased to advise that a recent 100-hole air core drilling program has successfully defined thick zones of strong scandium anomalism from surface, across multiple locations at the Murga Scandium Prospect which is located on Rimfire's Fifield Project 70kms NW of Parkes NSW.
Commenting on the announcement, Rimfire's Managing Director Mr David Hutton said: 'We are greatly encouraged by the latest air core drilling results at Murga. 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. Rimfire's primary objective is to build a globally significant scandium resource inventory at our Fifield and Avondale Projects. The Murga intersections announced today in conjunction with the upcoming Melrose resource are the first components in satisfying that objective. Rimfire offers unique ASX exposure to scandium and we feel that the shallow mineralisation which occurs over a large footprint gives rise to the potential for Murga to host a large-scale scandium resource'.
Drilling details
100 Air core holes were drilled to determine the significance of a Rimfire 2023 reconnaissance air core drilling program which successfully intersected strongly anomalous scandium in multiple drillholes at Murga. At Murga, scandium occurs within a flat - lying weathered saprolite (clay) horizon overlying magnetic ultramafic (pyroxenite) intrusive rocks of the Ordovician-age Murga Intrusive Complex, which have been demonstrated from previous drilling at both Murga and the adjacent Melrose Prospect to be intimately associated with scandium mineralisation. All are characterised by thick vertical widths of strong scandium anomalism (+100ppm) with little of no associated nickel and / or cobalt anomalism which is in contrast to other scandium prospects in the area. Significantly all the areas remain open and further drilling is required to determine the lateral extents of the scandium at each location. Also, several magnetic features within the Murga Intrusive Complex that were not assessed by this phase of air core drilling have (based on the latest drilling results) been subsequently identified as new scandium targets for drill testing. These targets are additional to the 4 areas detailed below and include a +1 kilometre - long, WNW trending linear magnetic feature immediately west of the Murga East scandium area.
Now that the initial 4 areas have been identified, 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. Where the two methods have been previously employed on other Rimfire scandium prospects in the area, the lithium borate fusion method can increase the scandium values by 5 - 10%. Further air core drilling to determine the lateral extents of the scandium at Murga North, Murga Northwest, Murga East and Murga South, as well as testing the significance of the additional magnetic targets is also planned (subject to regulatory approval) for late June 2024 Quarter. Diamond drilling is also planned to obtain samples for metallurgical test work and to provide further geological information about the underlying ultramafic rock types. Murga lies on land that is used for grazing activities (cattle and sheep) and as such Rimfire's activities are not constrained by broad acre cropping practices. Rimfire looks forward to providing the market with further updates as new information comes to hand.
Now that the initial 4 areas have been identified, 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. Where the two methods have been previously employed on other Rimfire scandium prospects in the area, the lithium borate fusion method can increase the scandium values by 5 - 10%. Further air core drilling to determine the lateral extents of the scandium at Murga North, Murga Northwest, Murga East and Murga South, as well as testing the significance of the additional magnetic targets is also planned (subject to regulatory approval) for late June 2024 Quarter. Diamond drilling is also planned to obtain samples for metallurgical test work and to provide further geological information about the underlying ultramafic rock types. Murga lies on land that is used for grazing activities (cattle and sheep) and as such Rimfire's activities are not constrained by broad acre cropping practices. Rimfire looks forward to providing the market with further updates as new information comes to hand.
The global demand for Scandium is increasing with its usage as one of the primary materials in Hydrogen electrolysis solid oxide fuel cell technology as well as being used in the manufacture of lightweight and high-strength scandium - aluminium alloys. Scandium is included in both Australia's 2023 Critical Minerals List and the United States Geological Survey's (USGS) 2022 List of 50 mineral commodities critical to the economy and national security of both countries. (https://www.industry.gov.au/publications/australias-criticalminerals-list and https://www.usgs.gov/news/national-news-release/us-geological-surveyreleases-2022-list-critical-minerals). Incorporation of scandium in materials has environmental benefits across multiple industrial sectors, particularly in decarbonisation of energy. One pathway to mitigate greenhouse gas emissions is to generate electricity using hydrogen or synthetic liquid fuels, which are more efficient than combustion engines. This application currently represents the single largest use for scandium (https://straitsresearch.com/report/scandium-market). A competing demand for scandium (that is increasing) is its usage in the manufacture of highstrength aluminium alloys. When applied as an addition to aluminium alloys, scandium can produce stronger, more corrosion resistant, and more heat tolerant, weldable and 3D printable aluminium products. Aluminium alloys are used extensively in the global transportation industry. Aircraft manufacturers are particularly interested, with the two leading global aircraft manufacturers increasingly working to incorporate scandium aluminium alloys into their future designs and manufacturing processes. Aircraft designers believe use of these alloys can reduce aircraft weights by 15 to 20%. Additionally, the ability to employ weldable structures promises similar cost reduction potential. It's also important to note that the United States is totally dependent on imports of scandium primarily from Europe, China, Japan, and Russia to meet its domestic needs (USGS Scandium Fact Sheet 2022) and as such rising demand for scandium is supply constrained. Rimfire believes that advanced manufacturers are looking to secure long-term supplies of scandium within favourable jurisdictions like Australia before committing to the greater use scandium-alloyed aluminium materials in their products. Rimfire's Fifield and Avondale Projects are ideally positioned to take advantage of the growing demand for scandium and offer significant opportunities both in terms of deposit size and grade.
About Rimfire
Rimfire Pacific Mining (ASX: RIM, 'Rimfire' or the 'Company') is an ASX-listed Critical Minerals exploration company which is advancing a portfolio of projects within the highly prospective Lachlan Orogen and Broken Hill districts of New South Wales. The Company has two 100% - owned copper - gold prospective projects that are located west of Parkes and Orange in central New South Wales: The Valley Project - located 5km west of Kincora Copper's Mordialloc porphyry copper gold discovery (KCC.ASX), and The Cowal Project - located to the east of Evolution's Lake Cowal Copper / Gold mine (EVN: ASX). Rimfire also has the 100% - owned Broken Hill Cobalt (Green View) Project which is located immediately west and northwest of Broken Hill and covers several targets including the interpreted along strike extension to Cobalt Blue Holdings' Railway Cobalt Deposit (COB: ASX). Rimfire has two additional projects in the Lachlan Orogen which are being funded by Rimfire's exploration partner - Golden Plains Resources (GPR): Avondale Project (GPR earning up to 75%) & Fifield Project (GPR earning up to 50.1%) Both projects are prospective for high-value critical minerals - nickel, cobalt, scandium, gold and PGEs - which are essential for renewable energy, electrification, and green technologies. The development ready Sunrise Energy Metals Nickel Cobalt Scandium Project (ASX: SRL) is adjacent to both projects. The Fifield Project hosts the historical Platina Lead mine, the largest producer of Platinum in Australia.
Competent Persons Declaration
The information in the report to which this statement is attached that relates to Exploration and Resource Results is based on information reviewed and/or compiled by David Hutton who is deemed to be a Competent Person and is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Hutton has over 30 years' experience in the minerals industry and is the Managing Director and CEO of Rimfire Pacific Mining. Mr Hutton has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Hutton consents to the inclusion of the matters based on the information in the form and context in which it appears.
Forward looking statements Disclaimer
This document contains 'forward looking statements' as defined or implied in common law and within the meaning of the Corporations Law. Such forward looking statements may include, without limitation, (1) estimates of future capital expenditure; (2) estimates of future cash costs; (3) statements regarding future exploration results and goals. Where the Company or any of its officers or Directors or representatives expresses an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and the Company or its officers or Directors or representatives, believe to have a reasonable basis for implying such an expectation or belief. However, forward looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward looking statements. Such risks include, but are not limited to, commodity price fluctuation, currency fluctuation, political and operational risks, governmental regulations and judicial outcomes, financial markets, and availability of key personnel. The Company does not undertake any obligation to publicly release revisions to any 'forward looking statement'.
Contact:
Tel: +61 3 9620 5866
Email: rimfire@rimfire.com.au
RIMFIRE PACIFIC MINING LIMITED 
