Rimfire’s Arbitration Loss Sets Back Fifield Projects but Scandium Drills Impress

Strong Scandium Results at Currajong

Rimfire Pacific Mining has delivered compelling evidence that its Currajong prospect in New South Wales is emerging as a significant high-grade scandium opportunity. Recent air core drilling assays revealed multiple intercepts with scandium oxide grades reaching up to 782 ppm over several meters. These results reinforce Currajong’s position within the Fifield Scandium District, widely regarded as Australia’s scandium epicenter.

The drilling program, conducted over a 3-kilometer ultramafic belt, intersected weathered and fresh pyroxenite rocks known to be primary sources of scandium. Notably, the southern zone of Currajong showed a coherent high-grade zone approximately 400 by 300 meters in size, with further assay results pending that may extend this footprint.

Strategic Moves and Capital Raising

In a strategic pivot, Rimfire entered an Option to Purchase Agreement with ASX-listed Copper Search Limited for its Cowal Copper Gold Project. The deal, valued at up to $700,000 contingent on milestone achievements, allows Rimfire to focus its resources on building critical mass in scandium assets while potentially monetizing its copper-gold interests.

Supporting its exploration ambitions, Rimfire successfully raised $3.5 million through a well-supported share placement priced at 1.5 cents per share, albeit at a discount to recent trading prices. The funds will underpin ongoing drilling programs, resource estimation efforts at Currajong, and advance the Rabbit Trap Scandium Project, which Rimfire holds under an option agreement.

Legal Challenges and Operational Outlook

Rimfire faced a setback in arbitration with its exploration partner Golden Plains Resources (GPR) concerning the termination of Earn-in Agreements for the Fifield and Avondale projects. The arbitrator ordered the termination notices to be set aside, and Rimfire has opted not to appeal, instead working collaboratively with GPR to resolve outstanding issues. Additional legal proceedings, including potential shareholder derivative actions, remain pending and could influence future operations.

Despite these challenges, Rimfire is advancing its exploration pipeline with plans to complete a maiden mineral resource estimate for Currajong by September 2025 and to prepare for drilling at the Murga Exploration Target and Rabbit Trap Project. Concurrently, the company is reviewing historic geophysical data at its Broken Hill Base Metal Project to identify new cobalt and base metal targets.

Financial Position and Next Steps

As of June 30, 2025, Rimfire held $0.95 million in cash, with the recent placement significantly strengthening its balance sheet. The company anticipates that its current cash reserves, combined with the new funds, will support exploration and corporate activities into 2026. Directors have also demonstrated confidence by participating in the placement.

Looking ahead, Rimfire’s focus remains on consolidating its scandium assets in the Fifield District, capitalizing on global supply constraints driven by Chinese export restrictions. The company’s ability to deliver a robust resource estimate and progress its projects amid legal and market uncertainties will be critical to its trajectory.