Rimfire Pacific Mining (ASX:RIM) has begun a reverse circulation (RC) and diamond drilling program at the Melrose scandium prospect within its Avondale JV Project in central New South Wales.
The company has planned an initial 2,000m of RC and diamond drilling, which will underpin a maiden Mineral Resource Estimate (MRE), expected to be complete by mid-June 2024.
Managing Director David Hutton says the company is focused on exploring for critical minerals that are associated with global decarbonisation strategies.
“Rimfire believes its Melrose prospect along with other scandium prospects already identified by the company offer significant opportunities in terms of deposit size and grade,” Hutton says.
“We are building strong momentum across our scandium prospects with the recent completion of the Murga aircore drill program and commencement of the Melrose JORC resource drilling.”
All of the activities are fully funded by Rimfire’s exploration partner, privately-held Golden Plains Resources.
The Melrose prospect lies 70km northwest of Parkes in central New South Wales, Australia.
Rimfire signed an earn-in and joint venture agreement with Golden Plains worth $7.5 million in June 2021, under which Golden Plains agreed to make staged payments in exchange for increasing ownership of the Avondale joint venture.
Rimfire Pacific Mining is a critical minerals explorer focused on advancing its portfolio of projects that lie within the ‘highly prospective’ Lachlan Orogen and Broken Hill districts of New South Wales.
Write to Aaliyah Rogan at Mining.com.au
Images: Rimfire Pacific Mining
