- Rimfire Pacific Mining (RIM) strikes “significant” nickel-cobalt mineralisation from aircore drilling at its Currajong prospect within the Avondale project in NSW
- The results include a 34-metre hit grading 0.29 per cent nickel, 0.15 per cent cobalt and 101 parts per million (ppm) scandium from six metres
- Executive Director David Hutton says the latest results from Currajong reinforce the company’s new critical minerals exploration strategy
- Rimfire is now planning further aircore, RC and diamond drilling at Avondale to test for more nickel-cobalt mineralisation alongside the presence of primary PGEs in the area
- Shares in Rimfire Pacific Mining are up 55.6 per cent to 1.4 cents each at 2:07 pm AEST.
Junior explorer Rimfire Pacific Mining (RIM) has struck “significant” nickel-cobalt mineralisation from a recent bout of aircore drilling at its Currajong prospect in NSW.
The prospect forms part of Rimfire’s Avondale project near the New South Wales Lachlan Orogen region, and the new drilling results come from a 2.5-kilometre-long platinum-mineralised ultramafic unit in the area.
One of the best results from the recent drilling program was a 34-metre hit grading 0.29 per cent nickel, 0.15 per cent cobalt and 101 parts per million (ppm) scandium from six metres. This intersection included a 16-metre zone at 0.27 per cent nickel, 0.22 per cent cobalt and 120 ppm scandium.
Executive Director David Hutton said these latest results from Currajong reinforced the company’s new critical minerals exploration strategy.
“We have only scratched the surface at Currajong, and our work will continue to map out the extents of the near-surface nickel-cobalt mineralisation as well as test the potential for primary platinum group element (PGE) mineralisation in the underlying ultramafic unit below the base of weathering,” Mr Hutton said.
“Having a strike-extensive platinum-mineralised ultramafic unit with effectively no deep drilling and very little, if any, modern exploration is an outstanding exploration opportunity for the company and its shareholders given the forecast demand for, and value of, critical minerals such as the platinum group elements.”
Rimfire said historical drilling in the area had returned multiple PGE intercepts, but there had so far been no follow-up drilling on these results.
Having completed a 63-hole aircore program in the area, Rimfire said it was now planning further aircore drilling to determine the extent of near-surface nickel-cobalt mineralisation at the project.
The company is also planning reverse circulation and diamond drilling to test for primary PGE mineralisation at Avondale.
Shares in Rimfire Pacific Mining were up 55.6 per cent to 1.4 cents each at 2:07 pm AEST.