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Rimfire Pacific Mining Limited ( (AU:RIM) ) just unveiled an announcement.
Rimfire Pacific Mining has reported a major upgrade to the Inferred Mineral Resource at its Murga Scandium Deposit, which now stands at 56.1 million tonnes at 138 parts per million scandium, representing a 300% increase and contributing to a total scandium oxide resource of more than 16,000 tonnes at Fifield. The deposit remains open laterally and potentially at depth, and the company is planning follow-up exploration and infill drilling, metallurgical test work and assessment of underlying ultramafic rocks, while highlighting the potential for lower-cost atmospheric leaching due to Murga’s low-iron scandium, a factor that could enhance project economics and strengthen Rimfire’s position among key scandium players in the district.
Rimfire’s strategy now shifts to expanding and upgrading the Murga resource through a structured program of 100-by-100-metre exploration drilling and 50-by-50-metre infill drilling, aimed at testing extensions and improving grade confidence. Management emphasises that the enlarged and geologically better-understood resource base at Murga, together with regional upside at the Malamute prospect, supports its corporate objective of assembling a globally significant scandium inventory at Fifield and could deliver substantial growth for stakeholders if ongoing work confirms the project’s scale and processing advantages.
More about Rimfire Pacific Mining Limited
Rimfire Pacific Mining Limited is an Australian exploration company focused on scandium resources in the Fifield District of central New South Wales, regarded as Australia’s scandium epicentre. The company is building a portfolio of scandium deposits, including Murga, Melrose, Currajong and the Malamute prospect on its Rabbit Trap Project, positioning itself as a significant scandium player in the region.
Average Trading Volume: 1,658,325
Technical Sentiment Signal: Sell
Current Market Cap: A$38.83M
See more insights into RIM stock on TipRanks’ Stock Analysis page.