Rimfire Pacific Mining Limited (ASX: RIM) – Reinstatement to Quotation

• Assay results from a Reverse Circulation (RC) drill program at the Hilditch gold deposit return multiple shallow high-grade intersections, including:
  • 19m @ 3.21g/t Au from 16m incl. 6m @ 5.64g/t Au from 18m and 5m @ 3.28g/t Au from 30m (HGRC065)
  • 9m @ 3.11g/t Au from 63m incl. 4m @ 4.84g/t Au from 63m (HGRC068)
  • 15m @ 1.12g/t Au from 24m incl. 1m @ 2.85g/t Au from 25m and 4m @ 2.12g/t Au from 35m (HGRC067)
  • 5m @ 1.61g/t Au from 48m incl. 1m @ 2.02g/t Au from 48m and 1m @ 2.0g/t Au from 51m (HGRC065)
• Representative minable ore-grade intervals have been submitted for metallurgical test work under real-world toll milling protocols with results expected to be received in October. Initial results up to 95.8Å recovery of gold.
• Updated Mineral Resource Estimate (MRE) for Hilditch gold deposit targeted for October 2024.
• Development studies including geotechnical, environmental, infrastructure, surface water and hydrogeology assessments necessary for the mine approval process are advancing.
• The Hilditch gold project is situated on granted mining tenements, with excellent access to infrastructure, service providers and several toll-treating options within a 60km haulage.
• The Company is in active discussions with potential mining and toll-milling partners.

Eleven RC holes (722m) were drilled at Hilditch to investigate recent intersected high-grade zones. The Company has commenced updating the Hilditch Mineral Resource Estimate (MRE) to finalise optimised open-pit designs, aiming to secure mine approvals and advance discussions with potential mining and toll milling partners.

Maximus’ Managing Director, Tim Wither, commented, “The recent drilling results, including 19m @ 3.21g/t Au from 16m, fall within optimised open pit shells and support the MRE update prior to completing open pit designs. Hilditch offers a promising near-term gold production prospect for Maximus, situated on an approved mining tenement near the Coolgardie-Norseman highway, and within close proximity to multiple regional gold processing facilities.

“These new drilling results successfully expand the high-grade mineralised zones, and significantly improve the economic outlook for Hilditch, with efforts concentrated on advancing open pit development to generate cash flow for the Company, capitalising on the rising gold price environment.” 

Hilditch Gold Deposit

Hilditch is located on a granted mining tenement adjacent to the Coolgardie-Norseman highway and is proximal to several toll-treating processing plants. The existing 19,500 oz Au @ 1.3 g/t Au mineral resource is shallow, with mineralisation commencing at the surface over a 200m strike length and remains open at depth with significant strike extension to be tested (ASX announcement 19 December 2023). The completed RC drill program was aimed at infill and resource extension to upgrade material classification into the indicated category, before updating the Hilditch MRE.

Gold mineralisation at Hilditch is interpreted to be associated with…