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Rimfire Pacific Mining NL eyes six drill targets

Published: 15:00 05 Jul 2017 AEST

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John Kaminsky, managing director, Rimfire Pacific Mining NL

Rimfire Pacific Mining NL (ASX:RIM) is preparing for first pass reverse circulation and diamond drilling to start this month at the Fifield project tenement area in New South Wales.

3,000 metres of reverse circulation drilling will target depths of 60-275 metres at an initial six target areas.

1,000 metres of diamond drilling will target depths of 400-600 metres on three of the initial six target areas.

A further 3,000 metres of aircore drilling over the greater project area will also be undertaken as part of an expansion of the successful aircore program completed in Q1.

Drilling is part of an earn-in agreement with New Gold (TSE:NGD) who committed to spend A$2 million during 2017 subject to conditions and may choose to spend up to $12 million within 5 years to earn up to a 70% interest in Rimfire’s Fifield tenements.


The six target areas

The six drill target areas are:

- The Sorpresa South West area: where interpreted structure based on available magnetics and locally anomalous geochemistry data suggests potential repetition of the geology that hosts Sorpresa style mineralisation;
- The Gravity Thrust target: based on Rimfire’s interpretation of gravity and magnetic contrast which suggests a possible repeat of Sorpresa style mineralisation along a 2-kilometre subparallel feature to the south of the Trench31 area;
-The Golden Chrome target: lies within a zone of strong phyllic alteration that was mapped over an area 700 metres in diameter, potentially representing the near surface expression of a mineralised intrusive system at depth;
- The Carlisle target: centres on an 800 metres diameter strong magnetic anomaly partially tested with a series of shallow reverse circulation holes drilled by Rimfire in 2015. Previous reconnaissance sampling in the area identified favourable silica alteration and anomalous copper and gold, including up to 23.0 g/t gold in rock chips;
-The Moonrise area: located along the Eclipse trend, centres on a zone of anomalous gold in soil and rock chips near the projected trace of an interpreted thrust fault in close proximity to a dioritic intrusive; and
- The Transit area: a newly defined surface gold anomaly, with adjacent base metal signatures and nearby epithermal boiling textures in rock float.

 

John Kaminsky, managing director, commented

“Six targets have been proposed for first pass drill testing using reverse circulation and diamond drilling.

“The approach being adopted is to learn more about these target areas, and adjust testing strategies as the new drilling information becomes available.

“Permitting for three of these target areas is in place, with permit approvals for the balance of target areas anticipated shortly.

“Bid requests from drilling contractors have been circulated and are expected to be finalised soon.”

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