Rimfire Pacific Mining Limited · ASX:RIM
Rimfire Pacific Mining — Rimfire Pacific Mining NL — Shareholder Meeting (November 2010)
48 slides from Rimfire Pacific Mining's shareholder meeting presentation, Nov 24, 2010
Slide 1: Rimfire Pacific Mining NL AGM 2010
6mm For personal use only rimfire pacific mining nl (ASX “RIM”) John Kaminsky Executive Chairman & Colin Plumridge Senior Geologist Head of Exploration (AGM 24th November 2010) 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 1
Slide 2: Project Areas
Rimfire Pacific Mining NL – Project Areas For personal use only Exploration projects within NSW: Fifield Platinum Only dedicated Pt mining in Australia, alluvial resource was not exhausted, hard rock not understood Major Gold Potential Base Metal Potential Bingara Diamonds Copeton-Bingar
Slide 3: Company Profile
Company Profile (23rd November 2010) For personal use only Shares on Issue • Rights Issue 2 for 5 plus free option, June 2010, $1.62M gross • 437M Ordinary FP • 125M call options @ $0.04 August 2011 Market Cap. Approx $17.5 M @4.0 cents, pre options Share Price Movement • 2010 High 4.3 cent, Low 0.8
Slide 4: The Board & Management
The Board & Management For personal use only John Kaminsky Joined the Board in May 2004, and has a diverse background (Executive Chairman) internationally, in trade, investment & consulting. Has an MBA (MBS), and B App Sci. Chairman since Dec 2004. Graham Billinghurst Became a Director in May 1999 a
Slide 5: Rimfire Share Price
Rimfire Share Price (12 months Comparison chart) For personal use only Rimfire 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 5
Slide 6: Platinum Market and Price Trend
Platinum Market and Price Trend Price of Platinum in USD per oz For personal use only 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 6
Slide 7: Closing Points Prior to Exploration Discussion
Closing Points Prior to Exploration Discussion For personal use only New Mining Regulations into force 15th November 2010 Higher compliance burden, longer approval times (REF thresholds) Focus on commercial Pt opportunity at Fifield whilst exploring Bedrock potential Platina Lead and its interac
Slide 8: Exploration Overview
Exploration Overview (Platinum on Freehold and Gold development) For personal use only Fifield NSW - Mineralised Context Structural Corridors Projects and Prospects established Metal Zoning Observations Platina Valley Area Focus for Pt – Rimfire Freehold Pit One Area part of the Bedrock
Slide 9: Fifield Platinum Rimfire Major Project Areas
Fifield Platinum Rimfire Major Project Areas For personal use only Ivanhoe Group (USA) RIM has five exploration licences Approx 500km2 2 Mineral claims and a Bulk Disturbance permit “Pit One” Historic Soil Mine Platina 1920’s 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 9
Slide 10: District Trends – Good Address!
District Trends – Good Address! (Along strike) For personal use only Lachlan Lineament – Major Mineralised corridor Tout Complex at Fifield Orientation – Confirms lineament position Pt in some Shears with this orientation at Fifield 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 10
Slide 11: Localised Trends – Platina-Tresylva Corridor of Faults
Localised Trends – Platina-Tresylva Corridor of Faults For personal use only Rimfire Observation – Localised intersecting mineralised corridor Contains Pt and Au areas 60km2 of quality ground – What else is here? 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 11
Slide 12: Gravity Interpretation of Regional structure
Gravity Interpretation of Regional structure For personal use only 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 12
Slide 13: Fifield Project Area Overview
Fifield Project Area Overview For personal use only Project Areas now identified Platinum Coarse Grain Possible Intrusion related Fine Gold Au in Sediments & Shear Zone (fine) Au in Gossanous Breccia Base Metal (Cu, possible VMS) Confirms Fifield as “complex” and “highly mineralised”
Slide 14: Mineralisation Zoning At Fifield
Mineralisation Zoning At Fifield For personal use only Rift Margins Pt a dominant focus Major Corridor Strong Au zoning evident Some dominant areas Base Metal Potential VMS Style Other with Au Diverse Mineralisation Underexplored historically Commercial Potential worth pursuing 24 November, 2010
Slide 15: Advances in Knowledge of Pt Mineralisation at Fifield
Advances in Knowledge of Pt Mineralisation at Fifield For personal use only Issue of Difference in the modern era of Prior to Rimfire Rimfire Advance Exploration Drainage Direction Interpreted from Owendale & Tout North to South South to North complexes to Fifield Rift Valley Setting Not seen Recogn
Slide 16: Exploration at Fifield
Exploration at Fifield - Main Presentation Discussion Items For personal use only Platina Valley Platinum Exploration Platina Lead Assessment Sorpresa Gold Exploration The Larger Gold Picture at Fifield 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 16
Slide 17: Eastern Pt Shear Zone Platina-Gillenbine
“Eastern Pt Shear Zone” Platina-Gillenbine - soil sampling contours & mapping For personal use only Extensive Shear Zone identified (2008) >1km length (open) Parallel to Platina-Gillenbine Shear (2006)(“Central Shear”) Evidence of probable additional shears Forms the basis for major work area Centra
Slide 18: Pit One and Mineral Claim – Outcomes
Pit One and Mineral Claim – Outcomes For personal use only • Approx. 4,000mt of gravel through plant April 2010 AMG55 AGD 66 Blocks A, B, • Mining technique and dilution minimisation learning curve C, D, E, F, G • Largest nugget to date 7.4g Pt Mined •2,500m2 Bedrock exposed •Complex Geology in plan
Slide 19: Outcomes to date from Gravel Removal Pit One
Outcomes to date from Gravel Removal Pit One For personal use only Possible Commercial target generation as a “Means to an end” in determining the hard 0.7m gravel rock position for Pt Mineralogy of Pt & Au recovered was further confirmation on primary nature of Pt Bedrock exposure and structure
Slide 20: Pit One – This Year
For personal use only Pit One – This Year Pt and Au seen in specific geology, untraveled grains, primary origin Bedrock grade modest to date – Yet to get on to best areas… 1m Rock Types important Incredibly complex geological structure in plan view – “spectacular” Gravel review was importa
Slide 21: Platina Valley Platinum Exploration - Platina Lead
For personal use only Platina Valley Platinum Exploration - Platina Lead 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 21
Slide 22: Pt, Au Bearing Gravels and Platina Lead
Pt, Au Bearing Gravels and Platina Lead (on Rimfire freehold or adjacent) For personal use only •Direct Hit Platina Lead Extension •500m north of known commercial workings •Conclusion, Lost, Lower Grade? Auger Hole 601 •Good News Either way, provides knowledge on Lead Extension source of Pt or extra
Slide 23: Platina Lead Area – Trenching and Drilling Targets
Platina Lead Area – Trenching and Drilling Targets For personal use only 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 23
Slide 24: Platina Lead – 1890's
Platina Lead – 1890’s For personal use only 120 years ago biggest Pt producer in Commonwealth Possible Pt 20,000oz recovered mainly Lead source area – 15g/t recovered Pt equivalent Assess unmined portion (500m) – On freehold – Further extension expected north Precise Start of 1890’s workings
Slide 25: Trench Section Plan Platina Lead
Trench Section Plan Platina Lead For personal use only Initial 6 Trenches across Lead Depth to base 18m 100m length x 0.8m width 4 x 30t samples per trench Logistics challenging Extensive permitting Check out the Video! 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 25
Slide 26: List of Conceptual Pt Targets to Date – Fifield
List of Conceptual Pt Targets to Date – Fifield For personal use only The list has room to grow Pt work to date only reflected here Next two target stages are on Platina Lead Potential for quicker development on smaller targets 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 26
Slide 27: Additional Bulk Sample Areas not on Company Freehold
Additional Bulk Sample Areas not on Company Freehold (Platina – Gillenbine) For personal use only Central Shear “Ambit Area” being considered for Bulk Sampling Permit • Approx 30~35 hectares • Sample selected areas only within this Subsoil Clay (SSC) previously contoured for Pt grade here • Central
Slide 28: Gold Dominant Priorities at Fifield
Gold Dominant Priorities at Fifield For personal use only 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 28
Slide 29: Sorpresa Fine Au Discovery
Sorpresa Fine Au Discovery Confirmation of a much larger system For personal use only Au area of considerable potential – Missed historically due to lack of visual surface expression Visible prospecting ineffective, disseminated fine Au, – no panning No defined quartz association, no surface l
Slide 30: Fifield Projects Sorpresa Fine Au Prospect
Fifield Projects Sorpresa Fine Au Prospect Rimfire History 2007 onwards For personal use only Initially prospected with Auger drill, limited float (8.8g/t Au in rock sample) 3 x RC Drill hole program intersection of Au, Pb, Ag, leaching trial Dip not determined Other workings 700m NE…known P
Slide 31: Initial Geochemistry confirmed at Sorpresa 2009
Initial Geochemistry confirmed at Sorpresa 2009 “Plan View” Sorpresa Pb Geochemical Auger drill bedrock Anomaly and For personal use only Interpreted Mineralised Structure March 2009 Sorpresa Au Geochemical Auger drill bedrock Anomaly March 2009 Max Auger Au 1.56ppm April 2009 AMG55 AGD 66 When we h
Slide 32: Possible Larger target Interpreted at Sorpresa
Possible Larger target Interpreted at Sorpresa For personal use only Intrusive porphyry associated with a metamorphic aureole Magnetics and rock petrology indicate a possible larger Sorpresa target Conceptual 1.3km x 0.5km anomaly developed More geochemistry required 2008 Results NE Corner
Slide 33: Possible Larger target Interpreted at Sorpresa
Possible Larger target Interpreted at Sorpresa For personal use only Sorpresa and Fifield “Hard Rock Au” Magnetics and Soil Grid Plan Sorpresa Soil Grid done 2010 100m lines 25m sample intervals Orientation of 2008 results assisted bench marking of new soil geochemistry 24 November, 2010 Rim
Slide 34: Au Soil Geochemistry at Sorpresa Large and Real
Au Soil Geochemistry at Sorpresa Large and Real For personal use only Sorpresa Soil Grid results Elevated Au ppb How real is it? 1.5km x 0.4km “open” Au soil anomaly established Bedrock geochemistry required – auger drill tests Positive auger results Geology Exposure and rationale need
Slide 35: Sorpresa Auger Traverse preceding Trench
Sorpresa Auger Traverse preceding Trench 31 For personal use only • Traverse Auger Holes 816 to 828 • Centred on 54 ppb Au in soil • Auger drill 45m Au zone >100 ppb bedrock chemistry - open • Similar approach to 2008 in the NE corner Sorpresa Rimfire Pacific Mining NL - AGM 2010 24 November, 2010 3
Slide 36: Auger Traverse 450m NE along strike from Trench
Auger Traverse 450m NE along strike from Trench 31 For personal use only • Traverse Auger Holes 840 to 850 • Centred on 48 ppb Au in soil • Auger drill 40m Au zone >80 ppb bedrock chemistry - open • Similar approach to 2008 in the NE corner Sorpresa 24 November, 2010 Rimfire Pacific Mining NL - AGM
Slide 37: Sorpresa Trench – Brecciated Sediments
Sorpresa Trench 31 – Brecciated Sediments For personal use only 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 37
Slide 38: Sorpresa Trench Assay Results
Sorpresa Trench 31 Assay Results For personal use only 9m true width 4.9g/t 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 38
Slide 39: Trench Location - Pictorial
Trench 31 Location - Pictorial For personal use only Au in Rock 0.5mm Trench 31 Trench 31 Mugga Ironbark Anomaly 24 November, 2010 Rimfire Pacific Mining NL - AGM 2010 39
Slide 40: The Current Gold Snapshot for Fifield Area
The Current Gold Snapshot for Fifield Area For personal use only Numerous Fine Au occurrences Different to the Coarse Au at Fifield – More than one Au mineralised system Noted historic “hard rock Au scratchings” mapped Sorpresa open ended Goldengreen similar Au in sediments? Eclipse Nort
Slide 41: Goldengreen Area - 2007
Goldengreen Area -2007 - Western Rift Margin, Au in Sediments For personal use only Au in Soil remobilised Auger drill program confirms Au dispersed in sediments We now conclude Auger results are a good proxy for fine Au in bedrock sediments RC Drill program shows Au in Shears Needs auger
Slide 42: Eclipse North
Eclipse North For personal use only April 2009 AMG55 AGD 66 Float Examination FiR312 – 18g/t repeatable (2008) Breccia with sulphide Gossan disseminated Strike >500m Hydrothermal-mesothermal style Au & base metal New Soil lines taken recently 24 November, 2010 Rimfire Pacific Mining NL -
Slide 43: Eclipse North (cont.)
Eclipse North (cont.) For personal use only April 2009 AMG55 AGD 66 Similar look to Sorpresa Wider Breccia Zone at 30m Sulphides disseminated in veinlets & veins Float examination for Base Metal also Elevated Cu (& Pb) results Undertake further sampling & auger drill for bedrock geochemi
Slide 44: Au Potential Summary Fifield
Au Potential Summary Fifield For personal use only Sorpresa Au Soil geochemistry confirmed as real Large scale fine disseminated Au in brecciated sediments High grade Au clearly possible Historically unrecognised Gold Area missed by others Common features at Sorpresa, Eclipse Nth, Goldengr
Slide 45: Bingara Diamonds Project Status
Bingara Diamonds Project Status For personal use only Model Established Exploration Method Established Two confirmed Pipes 2007 HV No.1, HV No.2 Indicator Mineral Chemistry Positive (Composite grains HV No.1) Further delineation required HVNo.2 Aggregate sufficient pipes for “bulk test
Slide 46: Summary of Exploration Position
Summary of Exploration Position For personal use only The Sorpresa Gold Project is extremely significant for the Company It represents a conventional exploration project – standard assays Large scale, open ended, grades at surface The wider implications for Gold at Fifield, beyond Sorpresa
Slide 47: Contact us
Contact us Thankyou For personal use only John Kaminsky Executive Chairman + 61 3 9620 5866 www.rimfire.com.au rimfire@rimfire.com.au Colin Plumridge Senior Geologist Head of Exploration The information in the report to which this statement is attached that relates to Exploration Results is compiled
Slide 48: Disclaimer
Disclaimer For personal use only This presentation contains “forward looking statements” as defined or implied in common law and within the meaning of the Corporations Law. Such forward looking statements may include, without limitation, (1) estimates of future capital expenditure; (2) estimates of
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