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Rimfire Pacific Mining

Nov 12, 2023

Rimfire Pacific Mining (ASX: RIM, 'Rimfire' or 'the Company') is pleased to advise that assay results from the first of three diamond holes recently drilled at the 100% - owned Bald Hill cobalt target has confirmed cobalt mineralisation in sulphides with the following strong intercept; Commenting on the announcement, Rimfire's Managing Director Mr David Hutton said: 'The confirmation of cobalt in sulphides is a great start to our exploration program at Bald Hill and strengthens Rimfire's growing portfolio of critical mineral projects.

With focused exposure to copper, nickel, cobalt, scandium, and PGEs, Rimfire is well placed to deliver shareholder value in this sector. Assay results from the remaining two holes at Bald Hill which both intersected extensive zones of sulphides, are expected early September and Rimfire looks forward to providing updates as information comes to hand.'

Bald Hill discussion

Rimfire's 100% - owned Bald Hill cobalt target is located approximately 30 kilometres west of Broken Hill in NSW and 10 kilometres northwest of Cobalt Blue's. 3 diamond holes (FI2469 - FI2471 / 635.6 metres) were recently drilled by Rimfire to validate and confirm the geological setting of cobalt mineralisation previously intersected in wide spaced historic percussion drilling at Bald Hill. To minimise environmental disturbance all three Rimfire diamond holes were drilled as angled holes from an existing drill pad that was originally used to drill BHR1A in 1981. As detailed in previous Rimfire ASX Announcements (dated 28 June and 20 July 2023), each Rimfire drillhole intersected extensive zones of strongly disseminated to semi massive sulphide (pyrite, pyrrhotite and trace chalcopyrite + sphalerite) mineralisation within an intercalated sequence of quartz - albite - pyrite gneiss, amphibolite, and psammopelitic composite gneiss which is underlain in parts by a (non-mineralised) quartz - feldspar - biotite gneiss unit. Historical geology mapping of Bald Hill suggests that the units have been complexly folded on a regional scale by a series of south-plunging fold hinges which may have structurally 'thickened' the rock units and remobilised sulphides within the prospect area

BHR1A and FI2469 are interpreted to have drilled into the same south plunging fold hinge while FI2470 and FI2471 were drilled either side of BHR1A. Due to the structural complexity of the prospect area, the nature of the geological relationship between FI2470 and FI2469 is unknown at this stage. Assay results for FI2470, once received, combined with detailed geological logging and surface mapping will enable Rimfire's geologists to better understand the geological relationship between the holes.. Assay results for both FI2470 and 2471 are expected to be received early September 2023. Bald Hill is located 10 kilometres northwest of Cobalt Blue's (ASX: COB) Broken Hill Cobalt Project which hosts a Total (Measured Indicated and Inferred) Resource inventory of 118Mt @ [email protected] | www. | +61 3 9620 5866 0.086% (859ppm) cobalt equivalence (687ppm cobalt, 7.6% sulphur and 133 ppm nickel) for 81.1Kt contained cobalt (Cobalt Blue Mineral Resource Estimate dated 16 September 2021). Cobalt deposits at the Broken Hill Cobalt Project are characterised by moderate to steep dipping stratabound zones of disseminated to semi-massive cobaltiferous pyrite mineralisation. This forms 3 distinct bodies known as Pyrite Hill, Big Hill, and Railway.


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