Rimfire Pacific Mining Limited · ASX:RIM
Rimfire Pacific Mining — Rimfire Pacific Mining NL — Shareholder Meeting (November 2008)
52 slides from Rimfire Pacific Mining's shareholder meeting presentation, Nov 20, 2008
Slide 1: Rimfire Pacific Mining NL AGM 2008
For personal use only rimfire pacific mining nl (ASX “RIM”) John Kaminsky Executive Chairman & Colin Plumridge Exploration Manager (AGM 20th November 2008) A version of this presentation with audio content is available at the Boardroomradio link http://www.brr.com.au/event/53963 20 November, 2008 Ri
Slide 2: Rimfire Pacific Mining NL – Project Areas
Rimfire Pacific Mining NL – Project Areas For personal use only Exploration projects within NSW: Fifield Platinum Only dedicated Pt mining in Australia, alluvials ceased 70 years ago Gold Potential Base Metal Potential Bingara Diamonds Copeton-Bingara Australia’s first Diamond mining Searching for t
Slide 3: Company Profile
Company Profile (14th November 2008) For personal use only Shares on Issue 307M Ordinary FP 0.75M call options exercisable Nil during 2008 7.5M call options @ $0.12 Sept 2010 Market Cap. Approx $4.6 M (pre-options @1.5 cents) Share Price Movement 2007 High 6.8 cent, Low 2.1 cent, T/O $8.9m Last 12 m
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: Platinum Market and Price Trend
Platinum Market and Price Trend Price of Platinum in USD per oz For personal use only Rimfire secure EL’s 98/99 Old News – the key driver! Pt at A$1,300 level mark, weak AUD has helped 60% Industrial Demand for Pt Major growing use “emission control on vehicles” –mainly deisel Down turn in Automotiv
Slide 6: Rimfire Share Price
Rimfire Share Price (12 months Comparison chart) For personal use only 20 November, 2008 Rimfire Paciific Mining NL - AGM 2008 6
Slide 7: Rimfire Pacific Mining NL Summary
Rimfire Pacific Mining NL Summary For personal use only Adequate Financial Position Cash Position Sept 30th 2008 – A$2.1m Small debt $107k Sufficient funds for more than two years at current rate, subject to circumstances, extend if necessary Low cost operation Board, Technical and Management Team w
Slide 8: Exploration Overview
Exploration Overview (Platina – Gillenbine Area Focus) For personal use only “Fifield” - Mineralised Context Platinum background at Fifield Platina-Gillenbine Focus for Pt Other Non Pt Prospects at Fifield Bingara Diamond Update 20 November, 2008 Rimfire Paciific Mining NL - AGM 2008 8
Slide 9: Fifield Platinum Project Areas
Fifield Platinum Project Areas For personal use only Ivanhoe Group RIM has five exploration licences (USA) Existing Licences 355km2 New Licence 145km2 Historic Soil Mine Platina 1920’s 20 November, 2008 Rimfire Paciific Mining NL - AGM 2008 9
Slide 10: District Trends
District Trends (Along strike) For personal use only Lachlan Lineament – Major Mineralised corridor Tout Complex at Fifield Orientation – Confirms lineament position Pt in Shears with this orientation at Fifield 20 November, 2008 Rimfire Paciific Mining NL - AGM 2008 10
Slide 11: Fifield Project Area Overview
Fifield Project Area Overview For personal use only 7 Major Project Areas now identified Platinum ( x2) Coarse Grain Gold in Sediments & Shear Zone (fine) Gold in Gossanous Breccia Base Metal (Cu, possible VMS) Represents New discoveries Confirms Fifield as “complex” and “highly mineralised” Advanta
Slide 12: Mineralisation Zoning At Fifield
Mineralisation Zoning At Fifield For personal use only Rift Margins Pt is the dominant focus Major Corridor New areas Au zoning evident Some dominant areas Base Metal Potential VMS Style Other with Au Diverse Mineralisation Underexplored historically Commercial Potential worth pursuing 20 November,
Slide 13: Fifield Platinum (History and perspective)
Fifield Platinum (History and perspective) For personal use only Fifield is the only developed Platinum field in Australia No substantial workings for more than 70 years. Platinum and Gold alluvials were discovered in 1887. Reported production in excess of 20,000oz of Platinum The majority of this w
Slide 14: Fifield Platinum (Characterisation and Origin)
Fifield Platinum (Characterisation and Origin) For personal use only The Platinum is of a primary genesis - a hard rock source. Not Accretion or Secondary accumulation The coarse grain Platinum occurs in the alluvials, eluvium, “subsoil clay” and “weathered bedrock” This Platinum is expected to come
Slide 15: In Situ Coarse Primary Pt Grains
In Situ Coarse Primary Pt Grains For personal use only (Binocular Examination) Bedrock Source Repeatable In situ 0.7mm Re-entrant angle Pt grains Pt Crystals 1.2mm Beneath Sub Soil Clay Contours Within new Clay Weathered Bedrock Breccia and Shears Discrete zones of Pt forming Occurring within geolog
Slide 16: 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 Prior to Rimfire of Exploration Rimfire Advance Drainage Direction Interpreted North to South to South North Rift Valley Setting Not seen Recognised Pt recognised and recovered from No Y
Slide 17: Exploration at Fifield – Presentation Objectives
Exploration at Fifield – Presentation Objectives For personal use only Review of recent Pt Exploration at Platina-Gillenbine Highlight need for expanded Pt Bedrock Exploration Zoned mineralisation at Fifield Gold, Base Metal Observations Priorities and Target Potential at Fifield 20 November, 2008 R
Slide 18: Shear Zone Model for Pt Mineralisation
Shear Zone Model for Pt Mineralisation For personal use only Tr24a, sheared exposure Contact with dyke rock 20 November, 2008 Rimfire Paciific Mining NL - AGM 2008 18
Slide 19: Key Pt Exploration Observations at Platina-Gillenbine
Key Pt Exploration Observations at Platina-Gillenbine For personal use only Pt Bedrock • Geological control discovered • Mapping Source • We have a model, shear zones • RC Drilling geological • Manifestation of shear zones control largely will have diversity Extensive • Aircore resolved • Ground Geo
Slide 20: Rimfire’s Exploration Approach to Date
Rimfire’s Exploration Approach to Date For personal use only Regional Soil sampling grids to determine Pt anomalism – Successful AND Significant Results 1. Chosen for freehold access & easier Infill Soil grid to tune high grade Pt area permitting 2. It is a good 4. The Market should not consider sta
Slide 21: Ebenezer Platinum in Soil Anomaly
Ebenezer Platinum in Soil Anomaly - Technique using Auger Drill for detailed early stage examination “Pit 1 Area” For personal use only Auger Drill Program Sample and profile bedrock Trenching & Bulk Sampling Complex area at the margin of valley Auger Drill Traverse 10m Spacings (Rimfire Freehold &
Slide 22: Newly Completed Program of Contours
Newly Completed Program of Contours – soil creep directions, indicators of Pt movement in the surface veneer For personal use only Development of “Eastern Shear” delineation Creep directions at right angles to contours Arena Dimensions Central Comparison Shear The MCG arena has a total of approximat
Slide 23: “Eastern Pt Shear Zone” Platina-Gillenbine
“Eastern Pt Shear Zone” Platina-Gillenbine - soil sampling contours & mapping For personal use only Extensive new Shear Zone identified Predominantly Residual Soils (140 x 20kgs samples 100 Auger holes >1km length (open) Parallel to Platina-Gillenbine Shear (“Central Shear”) Central Evidence of prob
Slide 24: Pit One Exploration - Geological Control Discovered on Pt
Pit One Exploration - Geological Control Discovered on Pt For personal use only Mapped Trench 24 in “Cross Section View” Coarse Pt recovered in these sections Veins subtle in trench section Soft and contrast to surrounding rock Plan view taken later to observe the veins Note the veins in the trench
Slide 25: Pit One Exploration - Geological Control Discovered on Pt
Pit One Exploration - Geological Control Discovered on Pt For personal use only Mapped Trench 24 and 24a in “Plan View” Cross cutting Veins contain Pt, Au, Cr (Tr20, Tr24, Tr24a) Geological & Structural control Veins 1cm to 30cm width Cluster distribution Cr, Pt 2m Cr as a “pathfinder” Floor Section
Slide 26: Revised Pit One and Mineral Claim Activation
Revised Pit One and Mineral Claim Activation For personal use only • Lessons in trenching have targeted area better for investigation at Pit One Pit One • Geological Control Established Trenching • Trenching also encountered previously unknown “river gravel” with probable Pt “Side Issue” grade River
Slide 27: Additional Bulk Sample Areas for Discussion
Additional Bulk Sample Areas for Discussion (Platina – Gillenbine) For personal use only Central Shear New “Ambit Area” being considered for Bulk Sampling Permit • Approx 30~35 hectares • Sample selected areas only within this Soil Grids & auger drilling completed, the new “East Shear Zone”, adjacen
Slide 28: Example of Possible Bulk Sampling Program
Example of Possible Bulk Sampling Program For personal use only Central Shear Pit One Location 20 November, 2008 Rimfire Paciific Mining NL - AGM 2008 28
Slide 29: The Work Program Concept
The Work Program Concept For personal use only Layered Bedrock Pits, Soil Profiles, SS Clay Geometry • Pt Tonnes & Grade 2 • Characteristics of soil The goal is Shear Zone, • Water retention geological & structural controls Breccia orientation and Soil Layers • Remediation strategy on ore mineralisa
Slide 30: Critical Next Steps for Review
Critical Next Steps for Review For personal use only Finalise more detailed costings Proceed with Bulk Disturbance plan Tune Go/No Go refinement and Continue sampling Proceed to financial on bedrock submit application cost (trenches, for “ambit bulk” upgrade plant models potential assessment slots a
Slide 31: Platina – Gillenbine Corridor Target Objective
Platina – Gillenbine Corridor Target Objective (Non JORC “target estimate” Pt potential) For personal use only • Strike 1.3 km strike, open ended • Width, 200m (open) • Weathered, easy mining conditions (50m approx.) • Gravity recoverable Pt, low capital cost and low operational cost • Grade seen in
Slide 32: Other Mineralisation at Fifield - Priorities
Other Mineralisation at Fifield - Priorities For personal use only 1. Goldengreen area • Au dispersed in sediments • Potential for “Carlin Style Au” 2. Eastern Rift Margin • Au & Base Metal at Eclipse, Eclipse North etc 3. Sorpresa • Au & Base Metal 20 November, 2008 Rimfire Paciific Mining NL - AGM
Slide 33: Goldengreen Area
Goldengreen Area - 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 Target “Carlin Style” Au Gri
Slide 34: Au Disseminated in Sediments (Carlin Style)
Au Disseminated in Sediments For personal use only (Carlin Style Au Mineralisation) Most Capable of desirable Au large tonnage, deposits in low cost the world Old Ideal for Goldengreen Rimfire Fifield is a Gold in the prospectors has Au in Prospecting shears could not Contender sediments, with Soil
Slide 35: Eclipse North
Eclipse North For personal use only Float Examination FiR312 – 18g/t repeatable Breccia with sulphide Gossan disseminated Strike >500m Hydrothermal- mesothermal style Au & base metal 20 November, 2008 Rimfire Paciific Mining NL - AGM 2008 35
Slide 36: Eclipse North (cont.)
Eclipse North (cont.) For personal use only 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 geochemistry 20 November, 2008 Rimfire Pacii
Slide 37: Beyond Eclipse North area
Beyond Eclipse North area For personal use only 3 new prospects, Venus Peck’s & Transit 3 Mapping, soils and rock float • Along strike from Eclipse North & similar observations in rock float Potential for Au and Base Metal Auger Drill best areas in soil orientation 2 1 New Rock Chip Sample FiR203 sa
Slide 38: Fifield Projects Sorpresa Prospect
Fifield Projects Sorpresa Prospect For personal use only Ideally prospected with Auger drill, limited float (8.8g/t Au in rock sample) RC Drill program intersection of Au, Pb, Ag, leaching trial Dip not determined Other workings 700m NE…known Pb and Au Size potential strike 1km Conventional style pr
Slide 39: Project Discussion: Bingara Diamonds
Project Discussion For personal use only Bingara Diamonds The Objective is to locate the Primary hard rock Source(s) The path to solving the 100 year riddle of known alluvial diamonds A geological model, exploration and mounting evidence 20 November, 2008 Rimfire Paciific Mining NL - AGM 2008 39
Slide 40: 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 testing” (plant ut
Slide 41: Mantle Garnet Types, Bingara, by chemistry
MANTLE GARNET TYPES (W-E) BINGARA, by chemistry (Stream Sediment Sampling Rimfire 2002) Andradite 100% For personal use only Lherzolite 50% Megacrysts Eclogite II 0% Eclogite I M in ty (23) B C T revallyn N areen a (101) T o m & Jerry O th er (65) F ive M ile (35) B raem ar B C G len Id le C ap els
Slide 42: Diamond Indicator Mineral Source Discovered
“DIAMOND INDICATOR MINERAL SOURCE DISCOVERED” - EXPLOSIVE VOLCANIC BRECCIA “PIPE” (DIATREME) CONFIRMED SOUTH OF TOM AND JERRY MOUNTAIN (May 2007) For personal use only Composite Eclogitic Grain inter- Portion of garnets recovered auger hole 10 grown sized 1.0mm to 0.2mm from gross sample weight 15kg
Slide 43: “Horton Valley No.1 Pipe”
“Horton Valley No.1 Pipe” (Tom & Jerry South Peak location) For personal use only Basanite caps Basement DIM Source – “Pipe” Bingara Diamond Project. 20 November, 2008 Rimfire Paciific Mining NL - AGM 2008 43
Slide 44: “Horton Valley No.2 Pipe”
“Horton Valley No.2 Pipe” - Back Creek Glen Idle For personal use only Bingara Diamond Project NSW – Back Creek (Glen Idle) Surface and Near Surface geology Scale 250m Indicator Mineral Guide Probable Back Creek Glen Idle Vent “Horton Valley No. 2 Pipe” Crystal Fragments in Breccia? BC Hole 4 20 Nov
Slide 45: “Horton Valley No.3 Pipe ?”
“Horton Valley No.3 Pipe ?” (Trevallyn work area) For personal use only N Trevallyn work area Trevallyn auger drill location BCT-Aug6, 50m upslope (220 ~ 300 incline) from historic stream sediment Trevallyn diamond (0.265K). “Xenocryst breccia rock” recovered (2007) in coarse scree above sub outcrop
Slide 46: Trevallyn Area - History and direction
Trevallyn Area - History and direction For personal use only Garnet chemistry in stream sampling very good (2002) Diamond was found previously in drainage (2002) “MARID” suite rock newly Rock sample with large crystals, up to 10cm discovered – Mantle Derived (2007) New DIM in soils identified Auger
Slide 47: Recent Work Program at Trevallyn
Recent Work Program at Trevallyn For personal use only Soil Line sampling for “in situ indicators” >1,000kgs sampling, processing Binocular Review Chemistry determination Geophysics Review (airborne, ground) Detailed mapping and structure review Located additional MARID rock Defined wide garnet anom
Slide 48: “In house” Operating Plant and Infrastructure at Fifield
“In house” Operating Plant and Infrastructure at Fifield For personal use only The ability to mobilise quickly, at our discretion, with low cost in customised exploration, on a daily basis – a core strength Dam 0.5 Hectares Indoor Sample Processing Gravity Recovery Plant Facility & Office Fine Grind
Slide 49: “In house” Operating Plant and Infrastructure at Fifield
“In house” Operating Plant and Infrastructure at Fifield For personal use only Field use of Binocular Microscope Skid Auger Drill Auger Drilling Excavation 20 November, 2008 Rimfire Paciific Mining NL - AGM 2008 49
Slide 50: Summary of Exploration Position
Summary of Exploration Position For personal use only Important exploration discoveries continue to be made by the Company Work in the next 2 years will be conducted against a backdrop of difficult global economic conditions Priorities and focus are even more important Cost effective exploration to
Slide 51: 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 Exploration Manager The information in the report to which this statement is attached that relates to Exploration Results is compiled by Mr Colin Plum
Slide 52: 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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