Rimfire Pacific Mining (ASX:RIM) Continues Scandium Drilling Progress
Drilling Progress
Rimfire Pacific Mining has drilled 134 air core holes totaling 4,703 metres at the Currajong Scandium Prospect. The company is approximately two-thirds through its planned 200-hole program, intersecting various weathered rock types, including prospective ultramafic pyroxenite. Three batches with 520 samples are under laboratory analysis, with another batch set to be dispatched next week. First assay results are expected in late April 2025.
Strategic Importance
The drilling program occurs amid Chinese export restrictions on scandium, which constrain global supply. China currently accounts for 67% of global primary scandium feedstock and refines around 90% of scandium supply. These restrictions impact countries like the USA, which rely heavily on scandium imports for manufacturing and defence technologies. Rimfire emphasises the Fifield Scandium District’s potential as a long-term, secure scandium supplier for the Western world.
Future Outlook
Rimfire aims to build a robust pipeline of scandium targets within the Fifield District to establish a low-risk, secure supply of this valuable metal. The company anticipates the assay results will further validate the strategic significance of their landholdings.
Executive Comments
Managing Director Mr David Hutton stated, “Drilling for high grade scandium at Currajong is continuing with approximately two-thirds of the planned 200 holes completed so far. It is timely that our scandium-focused drilling is taking place at a time when global supply of this strategically important critical mineral is being threatened because of the recent Chinese restrictions on scandium exports.”
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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