viewRimfire Pacific Mining N L

Rimfire’s initial Transit assays reveal high-grade gold

The company believes ongoing strong results from within the Golden Plains Resources earn-in area support the potential for further mineralisation close to the Sorpresa deposit within the Lachlan Transverse Zone.

Rimfire Pacific Mining NL - Rimfire’s initial Transit assays reveal high-grade gold
In May 2020, Rimfire signed an earn-in agreement with GPR covering a 103 square kilometre area.

Rimfire Pacific Mining NL (ASX:RIM) is encouraged by initial assays from a three-hole reverse circulation (RC) program which has intersected high-grade gold at Transit Prospect in the Sorpresa Earn-in Area at Fifield within the prolific Lachlan Transverse Zone of NSW.

One hole (Fi2072) returned 55 metres at an average grade of 0.94 g/t gold from 6 metres and included 14 metres at 1.76 g/t gold from 6 metres and 1-metre at 9.98 g/t from 60 metres.

The 40-metre interval from 20 metres between these two high-grade intercepts averaged 0.43 g/t gold.

Transit prospect is within the Sorpresa Earn-in Area, for which the company signed an earn-in agreement with Golden Plains Resources (GPR) in 2020.

This covers a 103 square kilometre area and includes Sorpresa deposit and the surrounding area.

“Potential for further mineralisation”

Rimfire managing director Craig Riley said: “These excellent recent results support the ongoing potential for further mineralisation in close proximity to the Sorpresa Development Project.”

The company has received assays for three completed RC holes at 60 degrees dip totalling 231 metres (average depth 77 metres) at the Transit prospect.

In hole Fi2072 the final 1-metre from 60 metres to the end of hole assayed 9.98 g/t gold.

Assaying was undertaken by ALS with standard internal QA/QC controls and the 123 samples assayed from Transit included three standards, two blanks and one duplicate with acceptable QA/QC results.

Further assaying to reconfirm mineralisation

The assays have been based on 2-metre samples and Rimfire is submitting a new set of 1-metre interval samples for hole Fi2072 to reconfirm the tenor of gold mineralisation.

The holes at Transit were drilled in the same area as previous work with the aim of gaining a better understanding of the general geological setting of previous work undertaken in 2017 at the prospect.

Once the company can review all re-assays and assess current work program results in the context of previous work at Transit it will be able to outline the next phase of work.

Rimfire will also soon release results from various other recent drilling programs at other locations, including outside the GPR earn-in area.

Quick facts: Rimfire Pacific Mining N L


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on 11/7/19

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