Rimfire Pacific Mining (ASX: RIM) is now waiting on assays from a step-out nine hole reverse circulation drilling program, which covered 1335 metres at the company's Sorpresa gold and silver project at Fifield in New South Wales.
Sorpresa is within the Lachlan Cadia Lineament, with alluvial gold discovered in the 1880's.
At the Fifield platinum and gold project area around 20,000 platinum ounces were recovered in the 1890's, which at the time was the only dedicated platinum mining in Australia.
Exploration is still very active in the area with Sorpresa surrounded by projects run by companies such as Newcrest Cadia, Rio North Parkes, IvanPlats Syerston, KBL Mining, YTC Resources and Cobar Consolidated.
Latest drilling program
More specifically, the latest drilling was conducted at the emerging Roadside target, and was designed to confirm the style, geometry and continuity of mineralisation intersected in previous drilling along strike and down dip.
Highlighting the prospectivity of the area, previous intersections include: 16 metres at 2.67g/t gold and 113g/t silver from 68 metres; and 10 metres at 1.01g/t gold and 535g/t silver from 70 metres.
Share purchase plan
Rimfire also currently has a share purchase plan which the company said is currently running in excess of $1.2 million.
The company also recently raised around $2 million form a placement, and is therefore sufficiently funded to implement its next stage programs.
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