Rimfire Pacific Mining (ASX:RIM) has uncovered a new scandium prospect from its recent wide-spaced reconnaissance aircore drilling program at the Fifield Project in New South Wales, Australia.
The $12.03 million market capitalisation company reports ‘strongly anomalous’ scandium (Sc) from the surface was identified in the drill program.
Results include 30m @ 184 parts per million (ppm) Sc from surface, including 12m @ 224ppm Sc from 6m, and 15m @ 125ppm Sc from 3m. The new scandium prospect has been dubbed ‘Murga’.
Commenting on this discovery, Rimfire Pacific Mining Managing Director David Hutton says: “Our initial drill results at Murga are very encouraging. Interestingly, Murga appears to be different from other scandium occurrences in the district, which are intimately associated with nickel and cobalt mineralisation.
“Murga appears to be different from other scandium occurrences in the district, which are intimately associated with nickel and cobalt mineralisation”
It’s early days, but given these drill results, the size of the Murga intrusive complex, multiple untested scandium auger anomalies and the lack of drilling, Murga potentially represents a significant and unique pure scandium opportunity for Rimfire.”
Rimfire says further aircore drilling is planned to test areas of the Murga Intrusive Complex with no previous sampling and to refine existing scandium auger anomalies.
Rimfire Pacific Mining is an ASX-listed gold and copper exploration company focused on the copper-gold area of the Lachlan Fold Belt in central New South Wales.
As of 31 March 2023, the company had $678,000 cash and cash equivalents at hand, according to its latest quarterly report published on 28 April 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Rimfire Pacific Mining Ltd
