Rimfire Pacific Mining (ASX: RIM, 'Rimfire' or 'the Company') is pleased to advise that it has executed a Tenement Purchase Agreement with Plutonic Limited to acquire 100% of the Porters Mount Project (EL8329) which directly adjoins Rimfire's Cowal Copper Gold Project.
Commenting on the announcement, Rimfire's Managing Director Mr David Hutton said: 'The acquisition of Porters Mount compliments and strengthens the Company's 100% - owned Cowal Copper Gold Project which lies near the 9.7Moz gold Cowal Gold Deposit in the richly endowed Lachlan Orogen of New South Wales. Covering 27 strike kilometres of prospective Ordovician volcanic rocks, the Cowal Project now hosts multiple historic drill intercepts and geophysical targets that require follow up.
The acquisition reinforces Rimfire as a critical minerals and gold explorer with strong exposure to copper, nickel, cobalt, scandium, and PGEs. We look forward to to commencing exploration at Porters Mount and providing updates as information comes to hand.'
Rimfire's Cowal Copper Gold Project Rimfire's 100% - owned Cowal Copper Gold Project covers a portion of the Ordovician - age Currumburra Volcanic Complex which is interpreted to represent the eastern margin of the Lake Cowal Volcanic Complex, hosting the Cowal Gold Deposit and adjacent Marsden Copper Gold Deposit. The addition of the Porters Mount Project (EL8329 - 72km-2) increases the total area of Cowal Copper Gold Project to 450km-2. The Cowal Copper Gold Project lies 25 kilometres southeast of the Cowal Gold Deposit. Both Cowal and Marsden are owned by Evolution Mining (EVN.ASX) and host Total Mineral Resources of 305.3Mt @ 0.98g/t gold (9.7Moz gold), and 123Mt @ 0.27g/t gold, 0.46% copper (1.05Moz gold and 560Kt copper) respectively. (Evolution Mining Resource and Reserve Statement as at December 2021). The Currumburra Volcanic Complex comprises a north-south trending zone of andesitic volcanics, sediments, diorite to monzonite plugs and dykes which can be readily mapped (for over 27 kilometres within the Cowal Project) using magnetic and gravity geophysical data as well as drillhole geological information. The Currumburra Volcanics host several gold and copper occurrences that lie both within, and along strike from the project. At the Porters Mount prospect (which lies inside the northern end of the Cowal Project), a mineralised complex of hydrothermal breccias and subvolcanic intrusions is present in outcrop. The breccias which are rich in tourmaline and arsenic, and to a lesser extent antimony, silver, and gold are interpreted to have formed in the upper parts of a copper - gold porphyry system
South of the Porters Mount prospect within the central portion of the Cowal Project lies the LFB022 copper target which also requires drill testing, At the LFB022 target, reconnaissance aircore drilling by Clancy Exploration Limited in late 2008, defined a 3 x 1.5 km copper in saprolite anomaly (using a +400ppm copper contour) with a maximum individual (2 metre composite) aircore sample value of 0.14% copper in CBAC044. The anomaly overlies the intersection of the north south Currumburra Volcanic Complex gravity ridge and the northwest trending Marsden Lineament, which is an important local structural control on mineralisation at the Cowal and Marsden Deposits. While historic diamond drilling has failed to find the source of the copper anomaly, a large area to south remains untested due to thin veneer of post Ordovician cover (the early Silurian Jingerangle Formation). Significantly the untested southern area coincides with a magnetic low feature which is interpreted by Rimfire to be an intrusive unit and possible source of the copper in saprolite anomaly. (Information sourced from Clancy Exploration Limited's Annual Report for the period ending 21 May 2009 on EL6784 'Currumburrama' and Rimfire ASX Announcement dated 7 December 2022). In addition to Porters Mount and LFB022, there are a further 7 discrete magnetic features that have been identified by Plutonic within the immediate vicinity of Porters Mount (and within the Cowal Project) that require further investigation. Immediately south of the Cowal Project, on ground held by Alkane Resources Ltd (ALK.ASX), drilling by Goldminco Corporation in 2004 intersected broad zones of porphyry - style copper and gold mineralisation at the Imola and Silverstone prospects. Diamond drilling at Imola returned 96m @ 0.7g/t gold in CBD01 and 74m @ 0.15% copper in CBD008 at Silverstone. Both prospects also lie within the north south Currumburra Volcanic Complex gravity ridge and are associated with small monzonite plugs that are reported to be Ordovician in age and K feldspar alteration. The Silverstone intercept is described as associated specifically with hematite, biotite, magnetite, and K-feldspar altered intrusives and volcanics, chalcopyrite and bornite disseminations and veinlets. (Information sourced from the NSW Government Minview website - Imola mineral occurrence 185390 and Silverstone mineral occurrence 185391).
Acquisition Details
Rimfire has executed a Tenement Purchase Agreement with Plutonic Limited whereby Rimfire will acquire 100% of Plutonic's Porters Mount Project (EL8329) for $25,000 ($25K) cash consideration. A 2% Net Smelter Royalty (NSR) remains payable to Sandfire Resources Limited in the event of any mineral production from the tenement. At the time of writing, Rimfire, Plutonic and Sandfire were completing all necessary legal documentation and the transaction is still subject to standard regulatory conditions such as Ministerial consent for the transfer of the tenement
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:
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
Competent Persons Declaration
The information in the report 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:
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RIMFIRE PACIFIC MINING LIMITED 
