- Rimfire Pacific Mining (RIM) kicks off large diameter auger drilling at its Platina Lead prospect within the Fifield platinum project in central NSW
- Ten drill holes are planned to obtain samples from the bedrock zone in a shallow alluvial channel
- Once returned, the samples will be analysed for platinum, gold and associated platinum group elements
- Managing Director and CEO Craig Riley says the company is excited to resume drilling following delays due to COVID-19 and heavy rain in the region
- Shares have been trading 14.3 per cent higher at 0.8 cents
Rimfire Pacific Mining (RIM) has kicked off large diameter auger drilling at its Platina Lead prospect within the Fifield platinum project in central NSW.
The prospect was historically mined for coarse platinum and gold between 1880 and the 1900’s and is said to be Australia’s largest dedicated area for platinum production.
Rimfire’s program will consist of 10 holes with drilling aimed at obtaining samples from the bedrock zone in a shallow alluvial channel that is part of an ancient stranded paleo-channel.
Once returned, the samples will be analysed for platinum, gold and associated platinum group elements (PGEs) of osmium, iridium, ruthenium, rhodium and palladium.
Due to the coarse nature of the samples, RIM said gravity separation techniques will be used for processing, and then the gravity concentrate will be analysed to quantify the content of PGEs, gold and other materials in the heavy medium concentrate.
Managing Director and CEO Craig Riley said with COVID restrictions easing and the impact of heavy rain in central NSW receding, the company is excited to resume drilling operations.
“The company looks forward to commencing this program and also the arrival of different drilling rigs to undertake more programs on our other projects,” he said.
Shares were trading 14.3 per cent higher at 0.8 cents at 3:18 pm AEDT.