Rimfire Pacific Mining NL (ASX:RIM) has provided an update on results and progress of first pass drilling programs on the Northern View and Tout East prospects within its Fifield Project.
The project is in New South Wales, relatively close to proven cobalt deposits.
John Kaminsky, chief executive officer, said: “It was pleasing to confirm the presence of cobalt and gold on the first pass drilling at Northern View, as the larger 1.5-kilometre diameter area remains prospective.”
Presence of gold consistent with nearby deposits
Features of this early stage drilling program included 10 metres at 332 parts per million (ppm) cobalt from 14 metres.
Anomalous gold was also encountered, consistent with deposits such as Sorpressa which lies only a few kilometres to the west.
In fact there are many proven deposits in close proximity to Fifield, and more specifically its Avondale platinum deposit.
READ: Rimfire Pacific shares surge 24% after historical data points to the nickel and cobalt potential of platinum prospect
Confirmation of cobalt and gold is encouraging
Samples have been submitted to the laboratory for testing, but management is buoyed by what it has seen to date.
Kaminsky said: “Results are expected within the next 4 to 6 weeks, and should these be positive, they may provide the basis to undertake an additional set of work programs on each of these areas according to the relative potential for cobalt mineralisation.”