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Rimfire Pacific and earn-in partner GPR about to hit the ground at Sorpresa

The partners plan to start drilling later this month to test bedrock beneath key proposed Sorpresa mine development infrastructure.

Rimfire Pacific Mining NL - Rimfire Pacific and earn-in partner GPR about to hit the ground at Sorpresa
Sorpresa is in the Fifield area of the prolific gold producing Lachlan Fold Belt of NSW.

Rimfire Pacific Mining NL (ASX:RIM) plans to start drilling later this month at Sorpresa deposit within the Fifield earn-in project with Golden Plains Resources (GPR in central New South Wales.

The partners plan aircore drilling to test bedrock beneath key proposed Sorpresa mine development infrastructure such as the process plant and overburden waste rock dumps.

Successful contractor for this drilling program is McLeod Drilling who have previously completed drilling programs for Rimfire.

The Earn-in Management Committee has also approved the release of tenders for the selection of a Lead Environmental Consultant to deliver the Environmental Impact Assessment (EIA) and Environmental Impact Statement (EIS).

These are essential requirements for obtaining development consent for the Sorpresa project.

“Milestone event”

Rimfire managing director Craig Riley said: “The commencement of the sterilisation drilling at Sorpresa is an exciting milestone event towards obtaining a development consent for the Sorpresa Project.

“Exploration for further discoveries will continue in parallel with the work at the Sorpresa Project on 815 square kilometres of Rimfire exploration licences and the 103 square kilometres GPR earn-in area.”

Earn-in agreement with GPR

This earn-in covers 103 square kilometres of highly prospective ground, including the Sorpresa discovery, which has a resource of 74,300 ounces of gold and 3.4 million ounces of silver.

The company has an earn-in agreement with GPR aimed at bringing the Sorpresa gold and silver discovery into production.

The agreement covers around 10% of the exploration licences held by Rimfire in the Fifield area, and the company has control of the design and execution of fieldwork programs.

Of GPR’s $1.5 million annual investment, $1.2 million is for in-ground exploration and technical work to obtain mine development approvals in the earn-in area and $300,000 for Rimfire corporate purposes.

Following the completion of the earn-in, GPR has committed to fund the development of the Sorpresa project, including Rimfire’s portion, while the partners have also committed to form an unincorporated joint venture over the area.

Quick facts: Rimfire Pacific Mining NL

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ASX:RIM
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on 11/7/19

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