Rimfire and Inmet Commence Drilling at Grizzly
08 September 2008 - 11:00PM
Marketwired
Rimfire Minerals Corporation (TSX VENTURE: RFM) is pleased to
announce that in partnership with Inmet Mining, it has commenced
the second phase of fieldwork at the Grizzly Property in northwest
British Columbia. Phase 2 will consist of 1500 metres of drilling
aimed at targets defined by the first phase program which included
prospecting, mapping, soil geochemistry and a 32 line kilometre
Induced Polarization (IP) survey. The drill program will test the
Grizzly showing and targets on the Mirko Grid. The Grizzly
copper-gold porphyry target shows a number of similarities to Teck
Cominco/Novagold's Galore Creek deposit, including the volcanic
host rocks, associated magacrystic syenite porphyries, regional
magnetic signature and style and composition of hydrothermal
alteration and mineralization. The Grizzly Property is
approximately 50 kilometres east of the Galore Creek project and
within four kilometres of the partially completed Galore Creek
access road.
Previously reported mineralization from trenches at the Grizzly
Showing returned results which included 38 metres averaging 0.74%
copper and 1.1 g/t gold from continuous chip sampling. This copper
and gold mineralization is reflected in the 2008 IP survey as
chargeability values of 10 to 15 mV/V. This geophysical signature
defines an area of potential copper - gold mineralization that is
750 metres wide by 400 metres long and open to the northeast, east
and to depth. This area of high chargeability is also coincident
with a one square kilometre copper, gold and molybdenum soil
geochemical anomaly which taken together define a compelling
target. The 1500 metre drilling program directed at targets on both
the Grizzly showing and the Mirko grid will be financed by Inmet
Mining.
"We are very pleased that the IP has responded by highlighting
and characterizing the surface mineralization at the Grizzly
Showing," stated Jason Weber, P.Geo., President and CEO. "The
knowledge we have gained by modeling the known mineralization with
IP allows us to target aggressively within the large area of
positive IP response in particular where those same areas coincide
with strong copper and gold geochemistry."
The Mirko Grid
Soil sampling on the Grizzly property identified zones with
anomalous copper, gold and molybdenum geochemistry two kilometres
to the northwest of the Grizzly showing. This area (the Mirko Grid)
is interpreted to be geologically similar to the Grizzly Showing
based on airborne magnetic data and sparse outcrop; however the
source of the soil anomalies is largely unknown due to poor
exposure. Three consecutive 400 metre-spaced IP lines identified
100 to 200 metre wide zones with anomalous chargeabilities
coincident with some of the highest molybdenum, copper and gold
values in the Mirko soil geochemical anomaly. This pattern of
coincident IP chargeability and anomalous soil geochemistry also
provides the basis for a drill targets on the Mirko Grid.
The Grizzly project is being explored through a partnership with
Inmet Mining announced January 2008. Under the terms of the
agreement, Inmet Mining may earn up to a 60% interest in the
property by funding at least $5 million in exploration at the
Grizzly over four years. For additional information please see the
press release dated January 31st, 2008.
This news release has been reviewed by Mark Baknes, M.Sc.,
P.Geo., VP Exploration for Rimfire Minerals Corporation, a
Qualified Person for the purpose of National Instrument 43-101.
About Rimfire
Rimfire Minerals Corporation is an aggressive, well-financed
mineral exploration company with a portfolio of highly prospective
gold and copper properties in western North America and Australia.
Rimfire currently has in excess of two years of operating capital,
and finances approximately 80% of its exploration through option
and joint venture agreements. Current and former partners include
AngloGold Ashanti Limited, Barrick Gold Corporation, Newmont Mining
Company, Inmet Mining Corporation, Northgate Minerals Corporation,
Fronteer Development Group Inc., Rubicon Minerals Corporation,
American Creek Resources Ltd., Island Arc Exploration Corporation,
Jaguar Minerals Limited and BWG.
On behalf of Rimfire Minerals Corporation
Jason Weber, P.Geo., President & CEO
CAUTIONARY STATEMENT: No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein. This News Release includes certain
"forward-looking statements". Other than statements of historical
fact, all statements included in this release, including, without
limitation, statements regarding future plans and objectives of
Rimfire Minerals Corporation, are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from Rimfire's expectations are the risks
detailed herein and from time to time in the filings made by
Rimfire Minerals Corporation with securities regulators. Those
filings can be found on the Internet at http://www.sedar.com and
http://www.sec.gov/edgar/searchedgar/companysearch.html.
Contacts: Rimfire Minerals Corporation Patrick Moodie (604)
669-6660 Rimfire Minerals Corporation Jason Weber (604) 669-6660
(604) 669-0898 (FAX) Email: info@rimfire.ca Website:
www.rimfireminerals.com
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