Rimfire Pacific Mining (ASX: $RIM) Scandium Exploration Update

Rimfire Pacific Mining (ASX: $RIM) has completed an aircore drill program at the Murga Scandium Prospect and is set to commence JORC Resource drilling at the Melrose Scandium-Cobalt Prospect. The company has submitted 2,185 drill samples from Murga aircore drilling for multi-element analysis, with results expected by late April 2024. Additionally, the JORC Resource drilling at the Melrose Scandium-Cobalt Prospect is expected to commence late this week, with the Resource Estimate anticipated by mid-June 2024. All activities are fully funded by Rimfire's exploration partner, GPR.

Rimfire's Managing Director's Commentary

Rimfire's Managing Director, Mr David Hutton, emphasized the company's focus on exploring critical minerals associated with global decarbonization strategies. He highlighted the significance of scandium as an extremely valuable metal, sought after by western governments and advanced manufacturers for long-term supplies. Mr Hutton expressed confidence in the opportunities presented by the Murga and Melrose Prospects, citing their potential in terms of deposit size and grade. He also mentioned the ongoing metallurgical test work and geological studies, indicating 2024 as a pivotal year for Rimfire and its shareholders.

Scandium Exploration Update Summary

Rimfire Pacific Mining's update on scandium exploration activities includes the completion of an aircore drill program at the Murga Scandium Prospect and the imminent commencement of JORC Resource drilling at the Melrose Scandium-Cobalt Prospect. The company is awaiting multi-element analysis results from the Murga aircore drilling and expects the Resource Estimate from the Melrose drilling by mid-June 2024. Rimfire's Managing Director, Mr David Hutton, highlighted the company's focus on critical minerals and expressed confidence in the prospects' potential. With the global demand for scandium increasing, Rimfire aims to capitalize on the growing market interest and secure long-term supplies of scandium within favorable jurisdictions like Australia. The company's activities are fully funded by its exploration partner, GPR, and further updates are expected as more information becomes available.