Rimfire Pacific Mining Accelerates Scandium Resource Development at Currajong Project

Rimfire Pacific Mining (ASX: RIM) is fast-tracking compilation of a scandium mineral resource for its Currajong prospect after receiving further strong results from drilling in central NSW that have extended the known strike to more than 1.7 kilometres.

Located within the Fifield District – Australia’s scandium epicentre, approximately 70km northwest of Parkes – Currajong lies within the Avondale project, which is subject to an earn-in agreement with Rimfire’s exploration partner Golden Plains Resources (GPR).

Under the terms of the agreement, GPR can earn up to a 75% interest by completing expenditure of $7.5 million, with $2.275m spent so far.

Critical Mineral

Considered a critical mineral by a number of countries, scandium is a rare, versatile and useful metal that is one of the most effective elements for strengthening aluminium, while also offering improved flexibility and resistance to heat and corrosion.

Global supply of the metal is under pressure due to recent restrictions on scandium exports imposed by China – the largest global producer – and a lack of end-to-end scandium production in the US.

“The Fifield scandium district, in which Rimfire has one of the largest prospective landholdings, has real potential to be a long term, low risk, secure supplier of this highly valuable metal,” managing director David Hutton said.

Multiple Scandium Holes

Mr Hutton said the latest drilling had highlighted the growth potential at Currajong, with numerous portions of the scandium corridor remaining open laterally, and multiple holes ending in scandium.

Rimfire’s drilling also identified several small “pods” of scandium anomalism to the north northeast of the scandium corridor.

Of particular interest is a large magnetic anomaly approximately 1,200m northwest of the southern zone with scandium intercepts present.

Potential at Depth

Rimfire also noted that approximately 25% of the 200 air core holes it had drilled in the initial program ended in anomalous scandium.

The company believes that, if extended, these holes may intersect increased widths of anomalous scandium, which reinforces the unusually high levels seen in several earlier drill holes at Currajong.

“Having received all of the data for what was the first ever scandium–focused drilling at Currajong, we now look forward to receiving the maiden mineral estimate next month,” Mr Hutton said.