Rimfire Pacific Mining (ASX:RIM) is planning a follow-up drill program in the December quarter to scope out the size potential of its Bald Hill target in New South Wales, Australia.
To help plan the location of the next phase of drillholes, alongside refining the Bald Hill geological model, the $12.63 million market capitalisation company is conducting a high-resolution ground magnetics survey and geological mapping next week.
Rimfire has engaged a specialist consultant to conduct a heritage assessment of the Bald Hill area before the next phase of drilling.
Samples of mineralised drill core will be submitted for mineralogical and petrological examination. This work will confirm whether the cobalt (Co) in the area occurs as part of the pyrite and pyrrhotite or as a separate cobalt sulphide species.
This announcement comes after broad zones of ‘high-grade’ cobalt were intercepted at Bald Hill.
Rimfire reports some of the ‘strong’ drill intercepts returned include drillhole FI2470 with 125m @ 0.13% Co from 198m, including 97m @ 0.15% Co from 226m; and drillhole FI2471 with 58m @ 0.13% Co from 62m, including 12m @ 0.24% Co and 17m @ 0.15% Co.
The company notes the cobalt is associated with fresh sulphides of either pyrite and/or pyrrhotite, within highly deformed and metamorphosed host rocks.
Copper (Cu) potential was also highlighted by a newly recognised copper gossan in drillhole FI2471 with 6m @ 0.51% Cu from 56m.
Commenting on the drill results, Rimfire Pacific Mining Managing Director David Hutton says: “We are delighted with these outstanding results from the first drilling in over 40 years at Bald Hill. Having confirmed and expanded on the historic results, our focus now turns to undertaking a follow-up drill program to scope out the size potential of Bald Hill.
To assist in locating the next phase of drillholes, high-resolution ground magnetic surveying and geological mapping will start next week. Bald Hill looks to be a game-changer and is the clear priority for us now“
To assist in locating the next phase of drillholes, high-resolution ground magnetic surveying and geological mapping will start next week. Bald Hill looks to be a game-changer and is the clear priority for us now.”
Bald Hill is situated 10km northwest of Cobalt Blue’s (ASX:COB) Broken Hill Cobalt Project in New South Wales.
Rimfire Pacific Mining is an ASX-listed critical minerals exploration company advancing a portfolio of projects within the ‘highly prospective’ Lachlan Orogen and Broken Hill districts of New South Wales.
Rimfire had $377,000 cash and cash equivalents at hand as of 30 June 2023, according to its latest quarterly report, though on 2 August, the company announced it was raising $800,000 through a share placement.
Write to Aaliyah Rogan at Mining.com.au
Images: Rimfire Pacific Mining
