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Rimfire Pacific Mining updates Sorpresa JORC resource

The company is evaluating Sorpresa as both a low tonnage and higher grade gold project.

Rimfire Pacific Mining NL - Rimfire Pacific Mining updates Sorpresa JORC resource
An open pit optimisation process will be undertaken using the updated resource model

Rimfire Pacific Mining NL (ASX:RIM) has completed an update for the JORC resource estimate at its Sorpresa deposit within the Fifields Projects of New South Wales.

The resource measures 0.92 million tonnes grading 2.3 g/t gold and 30 g/t silver for 67,000 ounces of gold and 0.9 million ounces of silver using a 1.0 g/t gold cut-off grade.

Using this 1.0 g/t gold cut-off grade, the resource has a slightly higher tonnage and higher grades than the 2014 resource.

The shallow oxide zone of mineralisation which is which has an average depth of 50 metres measures 0.47 million tonnes grading 2.4 g/t gold and 22 g/t silver.

Upside potential around Sorpresa

Resource growth potential remains at Sorpresa with various prospects located within three kilometres of the Sorpresa resource.

The evaluation of these opportunities is continuing with current focus at Northern Gold, Casuarina Valley and Fortuna.

Notably, the mineralisation at each of these prospects is considered to be part of a broader intrusion-related gold system.

Supports dual strategy for Sorpresa

Rimfire’s CEO Craig Riley said: “The updated resource estimate results are very encouraging as they support the company’s Dual Strategy of monetising Sorpresa by evaluating the Sorpresa mineralisation as a low tonnage and higher grade gold project.

“The open pit optimisation studies to be undertaken in November will provide information for an optimal open pit design utilising realistic mining and metallurgical data inputs to generate maximum cash flow.”

Quick facts: Rimfire Pacific Mining NL

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Market: ASX
Market Cap: $23.77 m

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Rimfire Pacific Mining outlines new focus and exploration potential for Sorpresa

Rimfire Pacific Mining (ASX:RIM) managing director and chief executive officer Craig Riley, and consulting geologist Michael Love update Proactive Investors, on a new focus and exploration potential in the South and North prospect areas of the Sorpresa project at Fifield, central NSW. The...

on 11/7/19

2 min read