Rimfire Pacific further encouraged by latest Sopresa drill results
THE DRILL SERGEANT: Rimfire Pacific Mining (ASX: RIM) has received further encouragement from the first ever diamond drilling program being conducted at the company’s Sorpresa project, located near Fifield in New South Wales.
Four out of the five holes drilled have now returned gold and silver intersections with all holes intersecting the target ‘black silica’ stratigraphy, and by doing so expanding the company’s exploration target area.
Diamond Drilling Significant Intersections:
Newly Reported Intersection
Fi 325DDH
– 9 metres at 3.41grams per tonne gold from 14 metres, including 2 metres at 12.7 grams per tonne gold and 8 metres at 17.9g/t silver from 14 metres and 10 metres at 0.50g/t gold from 30 metres.
Previously reported intersections include:
Fi327 DDH
– 1m at 24.9g/t gold from 143m, 10m at 35.9g/t silver from 121m and 3m at 78.2g/t silver from 135m;
Fi 328 DDH
– 7m at 4.24g/t gold from 87m, including 1m at 22.7g/t gold, 20m at 97.6g/t silver from 80m, including 1m at 631g/t silver;
FI 329 DDH
– 1m at 114g/t gold from 159m, 1m at 33g/t silver.
Plan view diamond drill holes with main assay – Sorpresa project (with gravity and IP backdrop). Source: Company announcement
Rimfire explained diamond Hole Fi 325 DDH was drilled with the intention of providing the company with an understanding of the orientation and controls on high-grade gold mineralisation, whilst also examining the gold position in the oxide zone.
Rimfire considers this to have been achieved with mineralisation identified in the black silica horizon associated with localised brecciation, silicification and carbonate alteration.
The company said the diamond drilling program, as a whole, had delivered advances in the knowledge of the geology, alteration, mineralization, setting and style at Sorpresa.
Rimfire believes the combination of the intersections it has encountered in four out of five of the diamond holes undertaken at Sorpresa has elevated the project’s status to being an important component within a much larger area at Fifield.
The company intends carrying out further work at Sopresa, including constructing 3D models in preparation for systematic exploration and step out drilling, which it anticipates will commence in the next few weeks.
“The project’s first ever diamond drilling campaign has been incredibly successful,” Rimfire Pacific executive chairman John Kaminsky said in the company’s announcement to the Australian Securities Exchange.
“Intersecting bonanza grade at 1 metre at 114 grams per tonne gold, and significant width and grade mineralisation such as 7 metres at 4.24 grams per tonne gold, as previously reported, was very well complemented with 9 metres at 3.41 grams per tonne gold in hole Fi325 DDH.
“This is extremely pleasing to see.
“The current funding rounds, including the placement and the Share Purchase Plan (SPP) will enable the company to further develop the Sorpresa area.
“This will include systematic exploration east of the currently identified mineralisation towards the successful reconnaissance diamond drill results and beyond.
“The scale of the receptive geology and orientation of mineralisation especially in the Boundary Gate area has revealed significant scope for step out drill investigation and commencement of a drill program is anticipated in the coming weeks.”