Rimfire Pacific Mining (ASX: RIM) is undertaking detailed examination of the mineralising system for coarse grained Platinum (Pt) and Gold (Au) within the Company freehold (210 hectares) at Fifield, NSW.
The company said the major strategic work focus is being directed towards understanding the bedrock system within the Pit One Area, but important additional Pt and Au targets are being investigated and include the range of shallow gravels and deep lead(s).
The work involves assessment, delineation and estimation of potential minable areas.
Accordingly, the company continues to investigate the commercial potential on its freehold by testing the alluvial system, comprising these multilevel “near surface” gravels, the historic Platina Deep Lead (both mined and unmined portions) and the likelihood of Pt bearing tributaries feeding into the Platina Valley.
Once the auger drill program is completed, a bulk sampling program of the Platina Lead, and gravel system is likely to follow.
Ongoing assessment of the Pt/Au bearing gravel areas prospective for mining has confirmed potential target areas as follows:
- Surficial gravel with significant Pt/Au content warranting further testing for grade approx 700,000 to 800,000 tonnes (Appendix 1). A conceptual target has been previously established for this area1.
- Probable additional surface gravel system on the Company freehold (south) and other landowner property (east), to date with minimal testing for Pt/Au. An area of 1.4 million sqm, or a potential 3~4 million tonnes equivalent is possible. This is based on magnetic interpretation (the surficial gravel is magnetic) and limited auger drilling.
- Based on work completed to date at Pit One, a conceptual target has been estimated for Pt and Au within this surface gravel on the freehold.
The company plans to further define and bulk sample previously unmined sections of the extension of the Platina Lead. Additional assessment of potential bulk sampling strategy has been undertaken.
Rimfire will also investigate a possible location of a previously undiscovered Deep Lead. Based on geological interpretation and limited auger drilling a possible buried lead system has been determined. An auger drill program will follow.
The historic Platina Deep Lead assessment has had more than 50 samples (40kgs each) taken from the Platina Lead “mining dumps” and been partly analysed. Significant untravelled Pt and Au grains are being seen in the historic Lead dumps.
The Pt and Au grains are mostly interpreted as locally derived. Abundant Chromite appears to be present and a petrological assessment will follow on with bedrock, Pt, Au and Cr recovered.
The inference from grain morphology and limited interpreted geology is that a portion of the Deep Lead may have directly harvested a Pt and Au bearing hard rock source(s) on the east margin.
The area is directly along strike from the Ebenezer Pt in soil anomaly and the bedrock on the eastern margin in this location is undergoing auger drill testing.
To date approx. 1,200g of Pt/Au mixed HVC3 has been recovered from approx. 2,400 tonne of surficial gravel/contact bedrock processed out of Pit One Area.
The total mined material is approx.3,500 tonne, but this includes a known dilution of about 46%. The dilution includes backfill from previous mining and silt overburden.
Rain has delayed the bedrock assessment program in the Pit One Area. Excavation has been halted for new bedrock exposures and new sampling due to flooding. Samples previously taken from Tiles One and Two, plus Panel E continue to be processed uninterrupted.
The major mineralisation target for exploration by the Company at Fifield remains focused on gravity recoverable coarse grained Platinum. The Platina-Gillenbine area is of particular importance in understanding and delineating the bedrock mineralisation.
The company’s key overall objective remains, “to try and establish a potential open cut minable resource within the 6km2 zone of currently identified Pt mineralisation noted within the Platina-Gillenbine and Ebenezer project areas”, which includes both alluvial targets and the greater bedrock system.