- Rimfire (RIM) secures drilling contractors for a drilling program at its key New South Wales projects in the Lachlan Fold Belt and Broken Hill areas
- The drilling program will include over 10,500 metres of drilling and will take four months to complete
- Drilling is testing multiple gold, copper, cobalt and platinum group elements and includes Rimfire’s Valley and Green View Projects
- The company is expecting the program to commence by the end of the month
- On market close for the day, Rimfire is up 12.5 per cent and is trading at 0.9 cents per share
Rimfire (RIM) has secured drilling contractors for a drilling program at its key New South Wales projects in the Lachlan Fold Belt and Broken Hill areas.
The drilling program will include over 10,500 metres of drilling and will take four months to complete.
Drilling is testing multiple gold, copper, cobalt and platinum group elements and includes Rimfire’s Valley and Green View Projects.
The company is expecting the program to commence by the end of the month.
Rimfire is a gold and copper exploration company that is focused in the mining district of Fifield in central NSW.
Mining activity at Fifield dates back more than 100 years with the area hosting major mines, including Newcrest Mining’s (NCM) Cadia Valley Operations
“The company looks forward to announcing the commencement of drilling and ongoing release of results to the market as they become available, within usually six weeks after completion of individual drilling programs for each project,” Rimfire said in a statement to the market.
Earlier this year, Rimfire Pacific executed a farm-in and joint venture agreement with Golden Plains Resources over the Avalon Project.
Golden Plains will now spend $1 million on exploration work at the NSW-based project, which is prospective for gold and platinum group elements (PGE).
It can then spend another $6.5 million to earn a 75 per cent stake in the project.
On market close for the day, Rimfire was up 12.5 per cent and is trading at 0.9 cents per share.