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Rimfire awaits results from 100%-owned The Valley with more drilling upcoming

Published: 08:34 17 Dec 2020 AEDT

Rimfire Pacific Mining NL - Rimfire awaits results from 100%-owned The Valley with more drilling upcoming
RC drilling will continue at The Valley target in early 2021.

Rimfire Pacific Mining NL (ASX:RIM) is awaiting reverse circulation (RC) drill results from 100%-owned ‘The Valley’ target within the prolific Lachlan Fold Belt of central NSW.

The company has completed two holes for 296 metres as part of an RC program with assay results expected in early 2021.

Three remaining RC holes are expected to be completed in late January after the completion of harvesting and a short diamond drilling program at the Sorpresa Development Project where Golden Plains Resources (GPR) is earning in.

The company is also completing the process of obtaining governmental approvals for an aircore drill program of around 100 holes for 1,000 metres at The Valley, which is expected to start in early 2021.

“Exciting phase of field activity”

Rimfire managing director Craig Riley said: “An exciting phase of field activity is underway with drilling being undertaken at The Valley target.

He said this was testing a group of geophysical Induced Polarisation features that occur on the flanks of the interpreted western boundary of the caldera that also hosts the Northparkes porphyry copper-gold system.

Sorpresa studies

Riley said: “The company is also progressing Environmental and Technical studies to support obtaining Development Consent for the Sorpresa Development Project within the GPR Earn-in Area, whilst also undertaking drilling at a number of prospects that are in close proximity.”

Aircore drilling of 47 holes for 1,229 metres has been completed at Sorpresa’s Northern Gold and Gravity Jog prospects with assay results due in January 2021.

An RC circulation program of seven holes for 607 metres has been completed for the 114 Trend and Transit prospects with assays also due next month.

Sorpresa site studies

Sorpresa infrastructure site preparation has started with 262 metres of sterilisation drilling completed to ensure that there is no mineralisation at infrastructure locations.

Environmental and infrastructure design consultants have been engaged and are actively implementing the delivery of the Sorpresa Development Project.

A geotechnical and metallurgical diamond drilling program of about five holes for 400 metres will start in January 2021.

This program will obtain diamond core samples for structural analysis to support pit wall design parameters and metallurgical samples for further test-work to support mine and process plant design options.

Central NSW focus

Rimfire is an exploration company with its major focus at Fifield in central NSW, within the Lachlan Transverse Zone (LTZ) of the Lachlan Fold Belt.

In 2011 the company made a greenfields discovery, named ‘Sorpresa’, announcing a maiden resource in 2014.

In May 2020, Rimfire signed an Earn-in Agreement with GPR over a 103 square kilometre area that includes Sorpresa.

Rimfire continues to explore for a major copper/gold or gold mineralised system such as at Northparkes (copper/gold) or Cowal (gold).

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