Exploration firm Rimfire Pacific Mining (ASX:RIM) introduced maiden useful resource estimates for its Melrose and Murga North scandium prospects, situated in New South Wales, Australia.
In a Thursday (September 5) launch, Rimfire mentioned Melrose has indicated and inferred sources of three million tonnes at 240 elements per million scandium, whereas Murga North holds an inferred 21 million tonnes at 125 elements per million scandium.
“Declaring maiden Scandium Mineral Sources for Melrose and Murga North is a crucial first step in attaining our goal of constructing a globally important scandium useful resource stock at Fifield,” mentioned Managing Director David Hutton.
Scandium is a uncommon earth ingredient that has robust potential in high-tech functions, though the present lack of steady provide means it isn’t broadly used. It’s listed as a vital mineral in Australia and elsewhere.
Whereas Melrose is essentially “closed off,” the Murga space is open to the west and south.
Hutton famous that the corporate sees “important upside” in an exploration goal situated within the broader Murga area. Drilling to doubtlessly convert this exploration goal right into a useful resource is ready to start in October.
Rimfire can even begin drilling to improve the Murga North useful resource at the moment, and in line with its press launch will full additional metallurgical testwork on mineralised materials from Melrose.
Melrose and Murga North are each situated within the Fifield District, which Rimfire says hosts a few of the world’s highest-grade deposits of scandium. It’s the solely ASX-listed junior working within the space centered on the vital mineral.
The corporate shared that apart from Melrose, Murga North and the broader Murga area, it has different scandium prospects that it’s curious about investigating. These are Forest View, which is situated 11 kilometres south of the Murga intrusive advanced, and Currajong, which is 15 kilometres south of Murga and has nickel-cobalt-scandium mineralisation.
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Securities Disclosure: I, Gabrielle de la Cruz, maintain no direct funding curiosity in any firm talked about on this article.
