Tue Feb 19, 2008
Tide Project Update -- Drilling Expands 36 Zone
--------------------------------------------------------------------------------
PR08-05
Vancouver, BC -- February 19, 2008: Jason Weber, President and CEO of Rimfire Minerals Corporation is pleased to report final results from exploration conducted at the Tide Property in 2007. The road accessible Tide Property is situated 36 km north of the port of Stewart, BC, within the Stewart-Sulphurets corridor. The 2007 program was funded by American Creek Resources Inc., and consisted of 1835 metres of drilling in eight holes, detailed mapping and 318 metres of channel sampling targeting bulk-tonnage style gold mineralization.
Rimfire is targeting the Tide due to its large soil and silt geochemical anomalies, the extent of its precious metal mineralization, its proximity to favourable infrastructure and its location within the Stewart-Sulphurets corridor. Recent exploration in the Stewart-Sulphurets gold camp has reportedly expanded the resources at deposits such as Mitchell (13.1 million ounce gold and 2.2 billion pound copper resource at an average grade of 0.72 g/t gold and 0.18% copper -- Seabridge Gold) and Snowfield (3.0 million ounce gold resource at an average grade of 1.5 g/t gold -- Silver Standard Resources).
Every hole drilled in the 2007 program returned anomalous gold values over large widths, including Tide07-13, which averaged 0.49 g/t gold over the entire 207 metre length of the hole and Tide07-14 which averaged 0.33 g/t gold over the entire 247 metre length. Highlights include Hole Tide07-13, aimed at testing the southern extents of the 36 Zone, which included two separate intervals of 43.6 m of 1.0 g/t gold and 22.5 m of 0.94 g/t gold. Drilling at the 36 Zone was conducted on four sections spaced approximately 50 metres apart. Two holes were completed at the Northpit target and one hole at the Riptide target located 375 and 600 metres east of the 36 Zone, respectively.
"The 36 Zone is a compelling bulk tonnage-style gold target," stated Mark Baknes, VP Exploration. "Our previous metallurgical studies show that this mineralization is amenable to leaching. Our best results in drilling plus all of our surface work, including fracture density studies and surface chip sampling, suggest that the next test of the 36 Zone should be to the north and south."
The 36 Zone was discovered in 2005 when a single drill hole intersected 129.4 metres averaging 1.0 g/t gold including a 39.6 metre interval of 1.9 g/t gold. To date, drilling at the 36 Zone has been confined to a 250 by 750 metre area within the 600 by 2500 metre Crest gold-arsenic soil geochemical anomaly (>500 ppb gold in talus fines). The 2007 drilling program successfully extended the 36 Zone mineralization 100 metres to the north and 150 metres east. Further to the east at the Riptide zone, mineralization appears to be confined to narrower structures.
Tide Project - 2007 Diamond Drilling Results
Drill Hole
Zone
From (m)
To (m)
Interval (m)
Gold (g/t)
Tide07-13
36
0.61
207.25
206.64
0.49
Including
57.61
101.21
43.60
1.00
Tide07-13
36
161.85
184.35
22.50
0.94
Tide07-14
36
38.96
212.90
173.94
0.42
Including
38.96
48.46
9.50
1.88
Including
188.90
211.40
22.50
1.05
Tide07-15
36
81.57
123.46
41.89
0.49
Tide07-16
36
231.93
262.40
30.47
0.44
Tide07-17
36
73.98
117.60
43.62
0.64
Including
82.57
93.27
10.70
0.97
Including
105.46
117.60
12.14
1.02
Tide07-18
Northpit
103.40
122.40
19.00
0.92
Tide07-19
Riptide
101.6
112.7
11.1
0.27
Tide07-20
Northpit
191.51
206.51
15.00
1.02
In conjunction with drilling, field crews conducted a ground program consisting of chip sampling and detailed geological and fracture mapping. This data, in conjunction with fracture density data will be used to target 2008 holes at the 36 Zone, with a focus on areas to the south of the current drilling. A plan map of the 36 Zone with 2007 drill hole locations can be viewed at www.rimfire.bc.ca./s/tide.asp.
The 2007 Tide program was funded by American Creek Resources Ltd., under the terms of an option whereby American Creek can earn an additional 9% (total 60%) interest in the joint venture by funding $3.5 million in exploration by 2010. American Creek is the project operator. This news release has been reviewed by Mark Baknes, M.Sc., P.Geo., a Qualified Person for the purpose of National Instrument 43-101. Assays were completed by ALS Chemex Labs of North Vancouver, BC.
