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An announcement from Rimfire Pacific Mining Limited ( (AU:RIM) ) is now available.
Rimfire Pacific Mining Limited has completed a drilling program at its Rabbit Trap Scandium Project, which included 23 air core holes aimed at assessing scandium-prospective magnetic anomalies and expanding the Malamute Prospect. The drilling intersected promising ultramafic pyroxenite at the Malamute Prospect, indicating a significant scandium discovery opportunity, although assays are needed for confirmation. Challenges were encountered at two northeastern anomalies due to thick gravel and groundwater, suggesting the need for alternative drilling techniques. Results from the drill samples are expected by late January 2026, which could impact Rimfire’s operations and position in the scandium market.
More about Rimfire Pacific Mining Limited
Rimfire Pacific Mining Limited is a mining company focused on the exploration and development of critical minerals such as scandium, nickel, cobalt, and platinum group elements. The company operates projects in central New South Wales, including the Rabbit Trap, Fifield, and Avondale projects, which are situated in a region rich in mafic and ultramafic intrusive rocks.
Average Trading Volume: 3,874,248
Technical Sentiment Signal: Sell
Current Market Cap: A$38.63M
For a thorough assessment of RIM stock, go to TipRanks’ Stock Analysis page.