Rimfire Pacific Mining triples Murga scandium resource, acquires Rabbit Trap project

Murga Resource Expansion Positions Rimfire as Scandium Leader

Rimfire Pacific Mining (ASX:RIM) reported a striking 300% increase in the inferred mineral resource at its Murga Scandium Deposit, now estimated at 56.1 million tonnes grading 138ppm scandium (Sc). This lifts Rimfire’s global scandium inventory to 10.6 kilotonnes of Sc metal (16.2kt Sc oxide), consolidating its status as a major player in the Fifield scandium district, Australia’s recognised scandium hotspot.

The resource remains open both laterally and at depth, with the company’s resource geologist recommending multiple follow-up drilling programs. Notably, Murga’s scandium mineralisation features a relatively low iron content (~16% Fe) compared to other Fifield deposits, hinting at potential cost advantages through the use of Atmospheric Leaching (AL) rather than the more complex High Pressure Acid Leaching (HPAL) process employed elsewhere. Rimfire has engaged Simulus Laboratories to conduct metallurgical test work to validate scandium recoveries under this cheaper extraction route.

Further drilling is planned to test zones of higher-grade continuity and to explore promising intercepts within fresh ultramafic rocks beneath the deposit. If successful, these efforts could add significant tonnage and improve overall grade, enhancing the deposit’s economic potential. This resource upgrade follows earlier announcements, including the 300% increase to Murga resource, underscoring Rimfire’s steady progress in building a critical mass of scandium resources.

Rabbit Trap Acquisition Adds Malamute Scandium Prospect

In a strategic move, Rimfire exercised its option to acquire 100% ownership of EL8666, which, together with adjoining EL9748 (already owned by Rimfire), forms the Rabbit Trap Scandium Project located about 50km north of Murga. The acquisition was triggered by encouraging air core drilling results confirming extensive scandium mineralisation at the Malamute Prospect.

Malamute hosts thick, lateritic scandium mineralisation over a 700m by 400m area, with multiple intercepts exceeding 200ppm Sc and zones up to 44 metres thick. The mineralised zone remains open to the north and east, with further drilling warranted to delineate resource boundaries and test four additional nearby magnetic anomalies potentially indicative of additional scandium-bearing ultramafic rocks.

The acquisition consideration includes a $125,000 share payment to Javelin Minerals Limited, subject to escrow, with a further $300,000 milestone payment contingent on delivering a maiden Indicated Resource exceeding 5,000 tonnes of Sc oxide within four years. This deal consolidates Rimfire’s regional position and enhances its resource pipeline, building on the recent Rabbit Trap acquisition and drilling success.

Validation of Historic Gold-Antimony Mineralisation at Broken Hill

Rimfire’s Broken Hill Base Metal Project also gained momentum with the resampling and analysis of diamond drill core from the Windy Ridge Gold Antimony Prospect, drilled 40 to 50 years ago. This work confirmed and validated historic intercepts, revealing a 600-metre-long mineralised zone with gold grades up to 1.53g/t and significant antimony, silver, lead, and zinc values.

Notably, antimony was systematically assayed for the first time in key drill holes, with intervals such as 6m @ 0.48g/t gold and 0.65% antimony and 5.4m @ 0.86g/t gold and 0.30% antimony recorded. The mineralisation occurs within sheared and brecciated schists, geologically analogous to the Broken Hill Line of Lode deposits. Rimfire is exploring commercial options for Windy Ridge, including sole funding, partnerships, or divestment, to unlock shareholder value. The company has also identified the need for further drilling to test for high-grade zones and supergene gold mineralisation near surface, building on the earlier Windy Ridge gold-antimony validation work.

Funding, Legal Matters, and Next Steps

Rimfire ended the quarter with $1.03 million in cash and $96,000 in Earn-In bank balances, maintaining a tight grip on costs with exploration and administration expenses totaling around $700,000. The company continues to operate under Earn-In agreements with Golden Plains Resources (GPR) for its Fifield and Avondale projects, with a June quarter work program approved focusing on metallurgical test work at Murga and a seismic survey near the Sorpressa Gold Silver Deposit to better understand regional geology.

On the legal front, Rimfire remains engaged in proceedings related to disputed payments under the Fifield Heads of Agreement with GPR, with mediation scheduled for mid-May 2026. While these matters introduce some uncertainty, the company’s operational progress and strategic asset consolidation provide a solid platform moving forward.

Looking ahead, metallurgical results from Murga will be critical to confirm the potential cost benefits of atmospheric leaching, while additional drilling at Murga and Malamute promises to expand and upgrade resources. Rimfire’s strategic positioning in scandium, a metal critical for emerging clean technologies, alongside its base metal prospects, sets the scene for an eventful year.