Rimfire Pacific Mining NL's (ASX:RIM) exploration strategy has been boosted by an announcement from Emmerson Resources Limited (ASX:ERM) regarding the presence of porphyry copper-style mineralisation on adjacent ground to its Fifield project in NSW.
As a result of last week's news, the company is extending a reconnaissance mapping program in the south of the Northern Area to encompass ground adjacent to the Emmerson area.
Rimfire's managing director Craig Riley said: “The successful results at Emerson’s Whatling Hill prospect of a porphyry system discovery on adjacent exploration licences to Rimfire reinforce the regional discovery strategy announced in September 2018 to prioritise exploration of the highly prospective Northern and Southern areas.”
At the Northern Area, an ongoing review including analysis of historical geological and geophysical datasets indicating this is a block of older Ordovician rocks that were previously interpreted as younger Siluro – Devonian age rocks.
This is considered significant as the region’s world-class porphyry-style deposits of Newcrest Mining Limited's (ASX:NCM) Cadia Complex, the Northparkes project of CMOC and Evolution Mining Ltd's (ASX:EVN) Cowal project are hosted in Ordovician age volcanics.
At the Southern Area, reconnaissance geologic mapping of the 100 square kilometre area is now complete.
This work in conjunction with geophysical interpretation and a review of historical data, indicates a volcanic complex of about 9 kilometres-wide by 15 kilometres-long that is likely to be Ordovician age volcanics.