Rimfire Pacific Mining (ASX: RIM, 'Rimfire' or 'the Company') is pleased to advise that recent wide-spaced reconnaissance aircore drilling has returned multiple strongly anomalous intercepts confirming the scandium prospectivity of the Company's Fifield Project which is located approximately 70 kilometres northwest of Parkes within the highly prospective Lachlan Orogen of central NSW.
Commenting on the announcement, Rimfire's Managing Director Mr David Hutton said: 'Our drilling has identified strongly anomalous scandium at multiple locations throughout the Fifield area which is in addition to the scandium we have previously drilled at the Melrose prospect. The latest results are encouraging, and given the size of the project area, multiple drill intercepts that remain open in all directions, and multiple auger geochemical anomalies that have not been drill tested, we believe that Fifield is shaping up as a significant scandium opportunity for Rimfire and its shareholders'.
Drilling details
Wide-spaced reconnaissance aircore drilling (25 holes / 687 metres: FI2425 to FI2439 and FI2444 to FI2453. The drilling aimed to identify zones of laterite development prospective for hosting nickel, cobalt, and scandium mineralisation such as that observed at Rimfire's Melrose prospect.
At the Murga target, anomalous scandium typically occurs within a strongly weathered saprolite horizon overlying magnetic ultramafic (pyroxenite) intrusive rocks. There is little or no nickel and / or cobalt anomalism associated with the scandium, which is curious given that other scandium occurrences within the area (i.e., Rimfire's Melrose prospect and Sunrise Energy Metals' adjacent Sunrise nickel cobalt scandium deposit) are all associated with elevated levels of nickel and cobalt - see Rimfire's ASX Announcement dated 19 September 2022). Regionally the ultramafic rocks at Murga are interpreted to be part of a large scale arcuate shaped mafic - ultramafic intrusive complex that extends over a strike length of 7 kilometres with a maximum width of 2 kilometres. Murga remains largely unexplored for scandium, with most of the previous exploration in the area focussed on testing for gold and platinum mineralisation centred on the Sorpresa Gold Deposit which lies on Rimfire's Fifield Project immediately to the east. Shallow auger geochemical sampling undertaken by Rimfire and its then exploration partner - NewGold in 2017 on nominal 500 x 250 metre centres over most of Murga, defined multiple scandium auger geochemical anomalies (defined by a + 50ppm Sc contour) which require immediate follow-up.
The 4 recent aircore holes are the only holes to have specifically tested Murga North for scandium and the new intercepts remain open in all directions. Given the size of the auger anomaly and limited drilling, further drilling is required to determine the lateral extent of scandium anomalism. A second 2,000-metre x 1,000-metre northeast striking scandium auger anomaly lies 1.5 kilometres southeast of Murga North. The anomaly which overlies a coincident magnetic feature within the eastern portion of the Murga Intrusive Complex ('Murga East'), has only been tested by one aircore hole - FI2425 which intersected; 3m @ 132ppm Sc from 3 metres. Given the size of the scandium auger anomaly and the absence of drilling, Murga East requires drill testing to determine the significance of the auger anomaly and determine the extent of scandium anomalism encountered in FI2425. Strongly anomalous scandium was also intersected on the southern margin of the Murga Intrusive Complex ('Murga South') in several holes (i.e.; 27m @ 188ppm Sc from surface in FI2434 including 12m @ 224ppm Sc). Murga South has not been covered by auger sampling and the new intercepts remain open in all directions. Further drilling is required to determine the lateral extent of the scandium anomalism.
Market Significance of Scandium and the Aircore Drilling Results The global demand for Scandium is increasing with its usage as one of the primary materials in Hydrogen electrolysis solid oxide fuel cell technology as well as being used in the manufacture of high-strength aluminium alloys. Scandium is included in both Australia's 2023 Critical Minerals List and the United States Geological Survey's (USGS) 2022 List of 50 mineral commodities critical to the economy and national security of both countries. (https://www.industry.gov.au/publications/australias-criticalminerals-list and https://www.usgs.gov/news/national-news-release/us-geological-surveyreleases-2022-list-critical-minerals). Incorporation of scandium in materials has environmental benefits across multiple industrial sectors, particularly in decarbonisation of energy. One pathway to mitigate greenhouse gas emissions is to generate electricity using hydrogen or synthetic liquid fuels, which are more efficient than combustion engines. This application currently represents the single largest use for scandium (https://straitsresearch.com/report/scandium-market). A competing demand for scandium (that is increasing) is its usage in the manufacture of highstrength aluminium alloys. When applied as an addition to certain standard aluminium alloys, scandium can produce stronger, more corrosion resistant, and more heat tolerant aluminium products. Aluminium alloys are used extensively in the global transportation industry. Aircraft manufacturers are particularly interested, with the two leading global aircraft manufacturers increasingly working to incorporate scandium aluminium alloys into their future designs and manufacturing processes. It's also important to note that the United States is totally dependent on imports of scandium primarily from Europe, China, Japan, and Russia to meet its domestic needs (USGS Scandium Fact Sheet 2022). With rising geopolitical risk associated with a number of these supply jurisdictions, Rimfire believes the United States and its allies will increasingly look to favourable jurisdictions like Australia for supply of scandium and other critical minerals. Rimfire belies that its Fifield Project is ideally positioned to take advantage of the growing demand for critical minerals such as scandium (as well as nickel, cobalt, and PGEs). The latest aircore drill results confirm the scandium prospectivity of Murga Intrusive Complex and Forest View with drill intercepts at both locations remaining open in all directions. Further drilling is required to determine the extent of scandium anomalism drilled so far, as well as determining the significance of auger geochemical anomalies.
About Rimfire
Rimfire Pacific Mining (ASX: RIM, 'Rimfire' or the 'Company') is an ASX-listed Critical Minerals exploration company which is advancing a portfolio of projects within the highly prospective Lachlan Orogen and Broken Hill districts of New South Wales.
The Company has two 100% - owned copper - gold prospective projects that are located west of Parkes and Orange in central New South Wales: The Valley Project - located 5km west of Kincora Copper's Mordialloc porphyry copper gold discovery (KCC.ASX), and The Cowal Project - located to the east of Evolution's Lake Cowal Copper / Gold mine (EVN: ASX). Rimfire also has the 100% - owned Broken Hill Cobalt (Green View) Project which is located immediately west and northwest of Broken Hill and covers several targets including the interpreted along strike extension to Cobalt Blue Holdings' Railway Cobalt Deposit (COB: ASX). Rimfire has two additional 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 high-value critical minerals - nickel, cobalt, scandium, gold andh PGEs - which are essential for renewable energy, electrification, and green technologies. The development ready Sunrise Energy Metals Nickel Cobalt Scandium Project (ASX: SRL) isP adjacent to both projects. The Fifield Project hosts the historical Platina Lead mine, the largest producer of Platinum in Australia
Competent Persons Declaration
The information in the report to which this statement is attached that relates to Exploration and Resource Results is based on information reviewed and/or compiled by David Hutton who is deemed to be a Competent Person and is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Hutton has over 30 years' experience in the minerals industry and is the Managing Director and CEO of Rimfire Pacific Mining. Mr Hutton has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Hutton consents to the inclusion of the matters based on the information in the form and context in which it appears.
Forward looking statements Disclaimer
This document contains 'forward looking statements' as defined or implied in common law and within the meaning of the Corporations Law. Such forward looking statements may include, without limitation, (1) estimates of future capital expenditure; (2) estimates of future cash costs; (3) statements regarding future exploration results and goals. Where the Company or any of its officers or Directors or representatives expresses an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and the Company or its officers or Directors or representatives, believe to have a reasonable basis for implying such an expectation or belief. However, forward looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward looking statements. Such risks include, but are not limited to, commodity price fluctuation, currency fluctuation, political and operational risks, governmental regulations and judicial outcomes, financial markets, and availability of key personnel. The Company does not undertake any obligation to publicly release revisions to any 'forward looking statement'.
Contact:
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RIMFIRE PACIFIC MINING LIMITED 
