Rimfire Pacific in trading halt ahead of update to earn-in and JV agreements
Golden Plain Resources signed subscription, earn-in and joint venture agreements in early May.
Company
ASX:RIM
Rimfire Pacific Mining is an ASX – listed resources company focussed on exploring for critical minerals (including, nickel, cobalt, scandium, copper, gold and PGE's) throughout the world class Lachlan Orogen and Broken Hill districts of New South Wales, Australia.
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Golden Plain Resources signed subscription, earn-in and joint venture agreements in early May.
Golden Plain Resources has signed subscription, earn-in and joint venture agreements to earn a 50.1% interest in the JV area.
The company is exploring for a major copper/gold or gold mineralised system on its 915 square kilometres of exploration licences in Central West NSW.
Rimfire is exploring for a major copper/gold or gold mineralised system on its 915 square kilometres of exploration licences in NSW.
Rimfire is exploring for a major copper/gold or gold mineralised system on its 915 square kilometres of exploration licences in NSW.
The company is exploring for a major copper-gold or gold mineralised system such as at Northparkes (copper-gold) or Cowal (gold) on 915 square kilometres of exploration licences in central NSW.
Results from the first two phases of aircore drilling will be used to plan the third phase which is expected to begin early in 2020.
All landowner access agreements and NSW Government Environmental Resources Regulatory approvals are complete.
The company is evaluating Sorpresa as both a low tonnage and higher grade gold project.
The placement was well supported by a consortium of professional and sophisticated investors through Fresh Equities.
The Northern and Southern areas drilling will provide significant insights into assessing the potential for large scale gold or copper-gold mineralised systems.
Drilling results from the program could have a significant impact on options for the monetisation of Sorpresa.
Approvals have been secured to commence aircore and slimline RC drilling on the Northern Gold, Northern Area and Southern Area prospects.
The company plans to start drilling this quarter at multiple targets within its Sorpresa Project.
The shortfall takes total funds from the company’s non-renounceable rights issue to $800,000.
To better facilitate monetisation of Sorpresa, the company will complete a JORC 2012 resource report which will allow results of resource modelling to be reported.
The company is negotiating with contractors to complete initial aircore bedrock drilling of 2,500 metres at the Northern and Southern areas targeting large-scale mineralisation.
Reconnaissance mapping of the northern exploration area, which is 30% complete, will be extended to include the ground adjacent to Emmerson Resources tenement that led to the presence of the porphyry copper style mineralisation.
The aim of the RC drilling program is to drill through the fresh bedrock beneath the broad zone of historical gold mining pits and plus 20 to plus 100 ppb anomalous gold results.
Multiple prospects involving hard rock potential for gold, silver, copper and platinum have been established within a 6-kilometre radius of the Sorpresa discovery at Fifield.