Rimfire Pacific Mining advances Currajong project as scandium resource nears definition
Rimfire Pacific Mining (ASX: RIM) is on target to conduct a new analysis of its promising Currajong scandium prospect in New South Wales after the company’s second batch of assay results from the recently completed air core drilling program at Currajong confirmed it as a high-grade scandium opportunity.
While admitting its initial expectation of delivering a scandium mineral resource by the end of June 2025 was ambitious, Rimfire nevertheless expects to complete the new MRE by August after the anticipated receipt of further assay results from the project.
The company will initially focus its work on the southern zone and then potentially incorporate other areas of anomalous scandium within the broader Currajong Ultramafic as it receives the remaining assay results.
High-grade results
Managing director David Hutton said the positive drill results received to date have the company well placed to commence a scandium mineral resource estimate (MRE) for Currajong.
“Currajong continues to deliver high-grade drill results confirming the prospect as one of the most significant scandium opportunities in the Fifield area in NSW,” Mr Hutton said.
“Rimfire has one of the largest scandium-prospective landholdings in the Fifield scandium district, which has real potential to be a long-term, low-risk, secure supplier of this highly valuable metal for the Western world.”
Scandium growing in value
The drill program comes at a time when global supply of the strategically important critical mineral is being threatened because of recent Chinese restrictions on its exports of rare earth elements including scandium, in response to recent US tariff increases on Chinese goods.
“As China currently accounts for approximately 67% of global primary scandium feedstocks and refines approximately 90% of scandium supply, Rimfire anticipates that these new restrictions will severely constrain its international availability,” Mr Hutton said.
He also noted that the Chinese restrictions highlighted the need for alternative sources and independent supply chains.