Rimfire Pacific Mining Ltd (ASX:RIM) Commences Diamond Drilling at Murga
Diamond Drilling Program Underway
Rimfire Pacific Mining Ltd (ASX: RIM) has initiated its first diamond drilling program at the Murga Exploration Target. This program aims to acquire metallurgical samples of scandium mineralisation hosted in laterite and evaluate the prospectivity of the underlying fresh basement rocks. The drilling program consists of two diamond holes, expected to reach depths of up to 400 metres.
Previous Exploration Efforts
The current diamond drilling program follows a comprehensive infill air core drilling program, which included 61 holes and a total of 1,311 metres drilled. The results from this air core drilling are anticipated soon and will be crucial for further planning of exploration activities.
Comments from Management
David Hutton, Managing Director and CEO of Rimfire, stated, “With final scandium assay results from the recently completed infill air core drilling due shortly, we have commenced a 300-metre diamond drilling program. This program will help us obtain bulk samples of scandium-rich laterite material and assess the underlying fresh basement rocks at Murga. We expect to complete the diamond drilling by Christmas, with geological logging and sampling scheduled for January 2025.”
Future Expectations
The outcomes of both the diamond and air core drilling programs play a significant role in Rimfire’s strategy to convert the Murga Exploration Target into a Mineral Resource Estimate within the current financial year. Rimfire has previously announced a mineral resource estimate of 21 million tonnes at 125 parts per million for Murga North, alongside an exploration target for the surrounding area estimated at 100 to 200 million tonnes at 100 to 200 parts per million.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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