Rimfire Pacific Mining NL (ASX:RIM) has received the offer of grant for two new exploration authorities (tenements) in New South Wales in an area where rocks have been reinterpreted by Rimfire geoscientists as Ordovician age.
If the reinterpretation is correct, the area could potentially host significant copper-gold mineral systems similar to Cowal and Northparkes mines.
Inclusive of the new 234 square kilometre area, Rimfire now has 915 square kilometres of ground in central New South Wales, considered highly prospective for significant discoveries.
New exploration authorities (ELA 5708 and ELA 5709)
Rimfire CEO John Kaminsky said: “The company is delighted to secure these new highly prospective authorities that is thought to hold additional Ordovician age volcanics and leverage our local area knowledge with our proven technical expertise.”
“The company continues to benefit from Mick Love’s experience and advice in identifying potential areas of Cowal and Northparkes style mineralisation.”
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Kaminsky added: “The company intends to commence initial reconnaissance work over the new EL’s in the upcoming months to identify priority areas for drilling.
“This is an exciting time for the company as it combines its well applied technical rigor with new concepts to support the extension of mineralisation models that have led to discovery success such as the Sorpresa gold and silver resource (Fifield) Project.”