Rimfire’s Rabbit Trap Acquisition Hinges on Scandium Resource Milestones

Strategic Acquisition Strengthens Scandium Portfolio

Rimfire Pacific Mining has taken a decisive step in its scandium exploration strategy by exercising its option to acquire 100% ownership of exploration licence EL8666. This licence contains the Malamute Scandium Prospect and, combined with Rimfire’s existing EL9748, forms the Rabbit Trap Scandium Project located in central New South Wales, approximately 50 kilometres north of Rimfire’s Fifield and Avondale projects.

The acquisition was executed through the issuance of $125,000 worth of shares to Javelin Minerals, the previous holder of EL8666. This move consolidates Rimfire’s control over a key asset in a region already known for its scandium potential, signalling the company’s commitment to building a globally significant scandium resource inventory.

Drilling Results Confirm Robust Mineralisation

Recent air core drilling at the Malamute Prospect has confirmed substantial scandium mineralisation over a broad area measuring approximately 700 metres by 400 metres. Notable intercepts include 30 metres grading 247 parts per million (ppm) scandium, including a higher-grade 16-metre section at 352 ppm. Other significant results show consistent mineralisation with thicknesses up to 44 metres, highlighting the prospect’s potential as a thick, gently dipping zone of scandium-enriched laterite clays overlying ultramafic pyroxenite rock.

Importantly, the mineralised zone remains open to the north and east, with previous drilling limited by shallow hole depths. Rimfire’s Managing Director, David Hutton, emphasised the potential for further extensions, noting that four additional magnetic anomalies within a one-kilometre radius of Malamute have yet to be effectively tested. These anomalies could represent further scandium-bearing pyroxenite bodies, offering promising targets for upcoming exploration.

Future Milestones and Exploration Plans

The acquisition agreement includes a milestone payment of $300,000 in shares, contingent on Rimfire announcing a maiden Indicated Mineral Resource estimate exceeding 5,000 tonnes of scandium oxide within four years. This milestone underscores the company’s confidence in the project’s potential to deliver a substantial resource.

Regulatory approvals, including ministerial consent for the licence transfer, are currently being finalised. Meanwhile, Rimfire plans to continue its drilling program to better define the extent of mineralisation and test the nearby magnetic anomalies. These efforts aim to expand the resource base and enhance the project’s economic viability.

With scandium’s growing importance in high-tech applications such as aerospace alloys and fuel cells, Rimfire’s Rabbit Trap Project positions the company well within a niche but strategically valuable market. The consolidation of EL8666 marks a significant milestone in Rimfire’s broader growth strategy in the Fifield district.