Rimfire Pacific Mining provided an update on its scandium resource potential in the Lachlan Orogen and Broken Hill Districts of New South Wales.
The company's recent exploration activities have resulted in a maiden mineral resource estimate for its Melrose and Murga North prospects, totalling 5.1 kilotonnes of scandium oxide.
Rimfire's Managing Director, David Hutton, confirmed the resource upgrade was driven by findings at the Murga North site. "The upgraded MRE for both Murga North and Melrose is an exciting development for Rimfire as it validates the exploration work undertaken."
In addition to the defined MRE, Rimfire reported an exploration target ranging between 100 and 200 million tonnes, with scandium oxide estimates between 15 and 46 Kt.
The company proposes further development across identified prospects such as Forrest View, Currajong, and Tout East to bolster their scandium inventory.
The company emphasised the fully funded nature of its high-impact programs over the next six months, courtesy of exploration partner contributions.
The strategic funding will underpin continuing drill testing and resource upgrades aimed at establishing Fifield as a premier scandium mining hub.
Rimfire's substantial landholding and experienced team underline its commitment to advancing scandium resources in Australia, a critical mineral essential for the aerospace, defence, and transportation industries.
Rimfire Pacific Mining is a critical minerals exploration company, which is advancing a portfolio of projects within the highly prospective Lachlan Orogen and Broken Hill districts of New South Wales.
The company's 100% owned projects include the Green View Cobalt Project, Valley Project and East Cowal Copper Gold Project.
At the time of reporting, Rimfire Pacific Mining’s share price was $0.074.