Rimfire Pacific Mining (ASX:RIM) has received assay results from first-pass drilling at the Transit gold and copper prospect located within the Fifield Project in New South Wales.
Drilling at Transit has intersected the thickest gold intersection Rimfire has encountered anywhere at Fifield to date measuring 44 metres at 0.63 g/t gold.
At the Transit prospect, a total of 8 holes for 830 metres were completed in two locations, with depth ranges of 40 metres to 220 metres.
Results indicate drilling has intercepted shear hosted gold mineralisation.
Furthermore, results suggest a possible porphyry system as the source of both the peripheral shear hosted gold and potentially more centrally located copper-molybdenum results at deeper levels.
John Kaminsky, CEO, commented
“This is a very exciting development at Transit. We are extremely delighted to note the gold intersections of this width in first pass drilling from so few holes.
“Similarly, a context of other important metal signatures including copper and molybdenum with an alteration overprint is a great addition to the story, and this is also very pleasing to see.
“The big picture here, is a possible larger porphyry mineralised system operating at depth. There is a way to go, but this is an impressive start.”
Drill result details
Results from the Transit prospect are part of a first pass reverse circulation and diamond drilling program over five targets at Fifield.
Best assay results for gold from Transit included:
- 44 metres at 0.63 g/t gold from 36 metres including 20 metres at 1.11 g/t gold;
- 36 metres at 0.64 g/t gold from 0 metres including 4 metres at 2.32 g/t gold; and
- 30 metres at 0.61 g/t gold from 22 metres including 6 metres at 1.65 g/t gold.
What the results mean
Results to date suggest two key indications, firstly that shear-hosted gold mineralisation exists at Transit and secondly that a larger potential porphyry system is the source of this mineralisation.
Regarding the shear-hosted gold mineralisation, the evidence is also suggestive of multiple shear zones operating at Transit.
This is based on gold in auger drilling at surface, gold in soils at surface and extensive geological mapping.
These multiple shears, which are yet to be tested, provide significant upside to the current intersections, which remain open in all directions.
The potential for a porphyry system at depth
The results suggest a larger porphyry system as the source of both the peripheral shear hosted gold and potentially more centrally located copper-molybdenum results at deeper levels.
Surrounding reverse circulation drilling which intercepted 8 metres of copper and molybdenum and a 10-metre zone featuring lead and zinc also supports a potential porphyry relationship at depth.
Drilling continues
The Moonrise prospect has completed its diamond drilling to 602 metres, with diamond drilling now underway at the Golden Chrome prospect.
This will then be followed by diamond drilling at the Carlisle prospect.
Results expand the potential for a gold discovery
The Transit prospect is located 4 kilometres east of the Sorpresa gold and silver discovery, which demonstrates the Fifield area has the ability to host additional discoveries.
Furthermore, it is likely the best gold is located on intersecting structures, and the best grades are yet to be seen.
The results now flowing from the Transit prospect emphasise the importance of all the earlier surface work programs that have been conducted in the last 12 months.
The combination of a systematic exploration approach and nimble prospecting being applied at Fifield is feeding valuable information into the discovery process.