Rimfire Pacific Mining has outlined three new base metal drill targets at its Broken Hill base metals project in New South Wales after reviewing historic exploration data.
The work revisited airborne electromagnetic (VTEM) geophysical surveys carried out in 2012, along with drilling and geochemical records, and confirmed high-priority anomalies prospective for copper, cobalt, lead, silver and zinc.
The new targets sit 20–30km west of the famous Broken Hill Line of Lode, one of the world’s most prolific silver, lead and zinc deposits, and complement Rimfire’s existing cobalt prospects at Bald Hill and Railway Extension.
“The latest drill targets reinforce the base metal prospectivity of our 100 per cent-owned Broken Hill base metal project,” Rimfire Pacific Mining managing director David Hutton said.
“Given the abundance of previous exploration on the project because of its proximity to the Broken Hill Line of Lode, it is pleasing that we can still generate new drill targets from re-working historic data.
“The identification of these new targets comes at a good time as well, given the mining and exploration renaissance currently underway at Broken Hill and throughout the surrounding areas.”
To ensure it keeps focussed on its priority scandium assets, Rimfire is considering a range of commercial options to generate shareholder value from the project which include sole funding future exploration work, introducing an exploration partner or outright divestment.
“Rimfire will approach third parties, including a number who have previously expressed an interest in the project, to determine the current commercial appetite for the project,” Hutton said.
The three initial targets include Black Hills East, Windy Ridge and a potential extension of the Bald Hill cobalt-copper prospect.
Independent geophysical modelling suggests each contains strong conductive responses consistent with sulphide mineralisation, with Rimfire planning further drilling to determine the significance of the VTEM conductor.
With new anomalies emerging and multiple untested conductors still present from earlier surveys, Rimfire believes the project remains highly prospective and well placed to benefit from renewed exploration interest across the Broken Hill district.
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Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
