Rimfire Pacific Mining (ASX:RIM) has started a scandium aircore drilling program at the Murga exploration target at its Fifield project in New South Wales, the company said in a press release on October 24.
Managing Director David Hutton said this is the next step in establishing a resource for the target.
“In conjunction with the Melrose and Murga North Mineral Resources, Rimfire is well on the way to achieving its primary objective of building a globally significant scandium resource inventory at Fifield,” he said.
Rimfire notes that New South Wales has the highest concentrations of scandium in the world, and describes the Fifield area as “Australia’s scandium hotspot.” It holds some of the highest-grade scandium deposits globally. Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Sunrise Energy Metals (ASX:SRL,OTCQX:SREMF) also have projects in the area.
The Murga exploration target is “based on an outline of the scandium-bearing pyroxenite interpreted from aeromagnetic data and results of a 2024 reconnaissance aircore drilling throughout the Murga area.”
On September 5, Rimfire released maiden scandium resources for Melrose and Murga North. For Melrose it reported 3 million tonnes at 240 parts per million scandium in the indicated and inferred categories. For Murga North, the company outlined 21 million tonnes at 125 parts per million scandium in the inferred category.
Drilling at the Murga exploration target will be solely funded by Rimfire, and is part of a planned larger drilling program that will resume in November when the current drill rig becomes available again.
Completion of the Murga aircore drilling will take approximately two weeks. Results are expected four weeks after.
Scandium is listed as a critical mineral in Australia and elsewhere, and lacks stable supply. Rimfire said it continues to eye other prospects near Murga such Currajong, which has nickel-cobalt-scandium mineralisation.
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Rimfire Pacific Mining is a client of the Investing News Network. This article is not paid-for content.
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