RIMFIRE PACIFIC MINING LIMITED At Avondale, the Company has identified 20+ priority exploration targets within a 40- kilometre-long belt of underexplored intermediate volcaniclastics, sediments and ultramafic intrusive units that lie within a geologically significant regional - scale structure called the 'Steeton Ultramafic Suture Zone (SUSZ)'. The exploration targets are prospective for the discovery of nickel, cobalt, scandium, and platinum group elements (PGE's) associated with ultramafic host rocks, and range variously from untested magnetic anomalies (interpreted to represent previously unrecognised ultramafic occurrences) to confirmed ultramafic occurrences with historic drill intercepts (i.e., Melrose, Currajong, and Kars prospects - Figure 2).
The discovery potential of the SUSZ is further enhanced by recent drill results obtained at the Sunrise East prospect which lies next to Rimfire's Melrose prospect within the central portion of the SUSZ (Figure 2).
At Sunrise East, diamond drilling by
The drill hole also intersected a thick interval of strong silica-carbonate-fuchsite-pyrite alteration on the contact of the intrusive and sedimentary country rocks. Base metal sulphides and pyrite were observed throughout this interval and the zone has characteristics typically associated with a carbonate-base metal-gold system. At the time of writing this announcement, Sunrise was awaiting assays for below the oxide zone (SRL ASX Announcement:
An opportunity exists for Rimfire to discover high-value critical minerals within the Avondale Project Area around known prospects, and within untested magnetic anomalies that may prove to be previously unrecognised ultramafic occurrences. The emphasis of past discovery work on the Avondale Project Area has been on near surface oxide discoveries with minimal deep drilling of prospective units below 50 metres (Figures 3 and 4), a lack of systematic full suite assaying for all critical minerals (many key elements such as full suite of PGE's never analysed), with minimal soil cover leading to many targets not being field checked, reinforces this opportunity for the Company.
Rimfire has initiated a major exploration program to assess these identified exploration targets.
In addition to aircore drill programs currently underway at the more developed targets - Melrose, Currajong, and
Rimfire is also expanding its use of surface and downhole multi-element geochemistry, as well as investigating the application of electromagnetic (EM) geophysical techniques to assist in its future exploration efforts. In addition to the work on the
Management Comment
Commenting on the announcement, Rimfire's Executive Director Mr
Critical Minerals
The Australian and United States Governments identify critical minerals as metals, non-metals and minerals that are considered vital for the economic well-being of the world's major and emerging economies, yet whose supply may be at risk due to geological scarcity, geopolitical issues, trade policy or other factors. The critical minerals include Antimony, Beryllium, Bismuth, Chromium, Cobalt, Graphite, Lithium, Magnesium, Manganese, Nickel Niobium, Platinum Group Elements, Rare Earth Elements, Rhenium, Scandium, Titanium/Zirconium, Tungsten, Vanadium and Zirconium The Platinum Group Elements (PGE's) comprise iridium, osmium, palladium, platinum, rhodium, and ruthenium.
Critical minerals are required for the manufacture of solar PV plants, wind farms, electric vehicles, and battery storage. Additionally advanced manufacturing, defence, renewable energy, and medical devices has increased demand for critical minerals as building blocks for new products. For further information, refer to the Australian Government's Australian Critical Minerals Prospectus 2021, (
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