RIM - Rimfire Pacific Mining

[greggles]

Almost ten years since the last post in this thread. Long time between drinks.

Some promising assay results released today with three of the drill holes ending in mineralisation. They may have just scratched the surface at the Avondale Project. Time will tell. Lots more drilling to do.

Not much cash left in the bank, so a cap raise needs to happen soon.

 

[Dona Ferentes]

And movement at the station:
This $24m market cap company says it will regain full control of the Broken Hill Cobalt Project following notice from Perilya – wholly owned subsidiary of China’s Zhongjin Lingnan Mining – of its intention to withdraw from the Windy Ridge joint venture.

Perilya’s withdrawal will become effective upon fulfilling its rehabilitation obligations during the September quarter, meaning RIM will hold 100% of the project.

The Broken Hill Cobalt Project is prospective for the discovery of economic critical minerals such as cobalt with several priority targets already identified including the Railway Extension target, which lies directly along strike from Cobalt Blue Holdings’ (ASX:COB) Railway cobalt deposit.

RIM is currently pursuing regulatory approvals to enable commencement of exploration activities on the project.

 

[Dona Ferentes]

worthy of a MGN*

About Rimfire

Rimfire Pacific Mining Ltd (ASX: RIM) is an ASX-listed exploration company focused on exploring for critical minerals within the Lachlan Orogen and Broken Hill districts of NSW.

Rimfire currently has two projects in the Lachlan Orogen which are being funded by Rimfire’s exploration partner - Golden Plains Resources (GPR):

• Avondale Project (GPR earning up to 75%) & Fifield Project (GPR earning up to 50.1%)
• Both projects are prospective for Critical Materials (PGEs, Nickel, Copper & Cobalt) - which are essential for renewable energy, electrification, and green technologies.
• The development ready Sunrise Energy Metals Ni-Co-Sc Project (ASX: SRL) is adjacent to both projects.
• The Fifield Project hosts the historical Platina Lead mine, the largest producer of Platinum in Australia.

For more information on the Earn In and Joint Ventures see:
- ASX Announcement: 4 May 2020 - Rimfire enters into $4.5m Earn-in Agreement
- ASX Announcement: 25 June 2021 - RIM Secures $7.5m Avondale Farm Out

Also located in the Lachlan Orogen are two copper – gold prospective Projects that are 100% owned by Rimfire:

• The Valley Project - located 5km west of Kincora Copper / RareX’s Mordialloc porphyry copper-gold discovery (KCC.ASX and REE.ASX)
• The Cowal Project - located to the east of Evolution’s Lake Cowal Copper / Gold mine (EVN: ASX)

Rimfire also has the 100% - owned Green View Cobalt Project which is located immediately west of Broken Hill and Cobalt Blue (COB)

*Masters in Geological Nearology

 

[peter2]

Nothing to post about until Oct 23 when the weekly HVBB indicated that demand for RIM had perked up. Since then demand has been persistent.

 

[Dona Ferentes]

Nothing to post about until Oct 23 when the weekly HVBB indicated that demand for RIM had perked up. Since then demand has been persistent.

the focus seems to be narrowing , but just how many plays can be kept in the backpack? ... 3.3c

Rimfire’s Managing Director Mr
David Hutton said:
“Rimfire is focused on exploring for critical minerals that are associated with global decarbonisation strategies. Globally, western governments and advanced manufacturers are looking to secure long term supplies of critical minerals such as scandium from stable political jurisdictions, at quantities many times the current annual global production. Rimfire believes that our Fifield and Avondale Projects offer significant opportunities for these groups both in terms of deposit size and grade.

2024 is shaping up as a pivotal year for Rimfire and its shareholders with multiple programs across a range of critical minerals commencing with aggressive scandium – focussed drilling programs at Murga and Melrose ”.