Thu Sep 1, 2005
Rimfire and Serengeti Expand 36 Zone at Tide
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Vancouver, BC - September 1, 2005: Rimfire Minerals Corporation (TSX-V:RFM) and partner Serengeti Resources Inc. (TSX-V: SIR) report on results from the Tide Project 36 km north of Stewart, BC. Serengeti funded exploration that included eight diamond drill holes totalling 967 metres. This program expanded the 36 Zone gold mineralization downdip and in both directions along strike, while infill soil geochemical sampling has increased the gold-arsenic+/-antimony soil geochemical anomaly coincident with the 36 Zone to an area of 0.5 by 2.1 kilometres.
David Moore, President of Serengeti stated, "The 36 Zone soil geochemical anomaly is much larger than first recognized and presents a compelling target with soil values exceeding 0.5 g/t gold and locally up to 16.2 g/t gold. Drilling to date has tested approximately 5% of this area, intersecting broad zones of gold mineralization indicating the 36 Zone is part of a large mineralized system. Our next step is to evaluate the lithological and structural controls on gold mineralization in order to better target future drilling campaigns."
The primary focus of the 2005 drilling was to follow up the 2004 discovery at the 36 Zone where drill hole TIDE04-03 averaged 1.00 g/t gold over 129.4 metres. Hole TIDE05-07 extended gold mineralization 45 metres along strike to the northeast, intersecting 55.67 metres of 0.74 g/t gold followed by a 50.05 metre intersection averaging 0.45 g/t gold further downhole. TIDE05-08 stepped back 60 metres on section from the discovery hole extending the zone to a depth of 110 metres, intersecting a 26.14 metre interval of 1.4 g/t gold within a 121.73 metre interval of 0.72 g/t gold. A second intersection further downhole returned 1.12 g/t gold over 18.29 metres. TIDE05-10 tested the zone 105 metres to the southwest, intersecting 60.31 metres of 0.44 g/t gold. A fourth hole, 225 metres south-southwest of the 2004 hole TIDE04-03, tested a geophysical EM conductor, intersecting 6.72 g/t gold over 0.51 metres. Holes TIDE05-05, 06, 11 and 12 were targeted at the 52 Zone.
2005 Diamond Drilling Results
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Hole Zone Total
Depth From To Interval Gold Silver
(m) (m) (m) (m) (g/t) (g/t)
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TIDE05-05 52 Zone 39.01 26.01 26.52 0.51 1.08 18.8
TIDE05-06 52 Zone 63.40 47.35 49.19 1.84 4.21 6.3
including 47.35 47.94 0.59 6.24 8.8
TIDE05-07 36 Zone 211.23 58.78 114.45 55.67 0.74 0.5
including 58.78 68.38 9.60 1.31 0.6
and including 98.22 114.45 16.23 1.03 1.0
139.64 189.69 50.05 0.45 0.9
209.29 211.23* 1.94 2.75 5.3
TIDE05-08 36 Zone 212.45 29.2 36.56 7.36 0.72 0.9
54.98 176.71 121.73 0.72 0.6
including 124.51 150.65 26.14 1.40 0.8
194.16 212.45 18.29 1.12 0.7
TIDE05-09 36 Zone 165.22 62.08 62.59 0.51 6.72 3.4
TIDE05-10 36 Zone 166.12 25.91 28.95 3.04 2.49 3.8
80.77 141.08 60.31 0.44 1.1
TIDE05-11 52 Zone 53.64 30.43 31.17 0.74 2.74 1.8
TIDE05-12 52 Zone 56.69 No significant results
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* Hole terminated in fault zone
Infill soil geochemical sampling between the 36 Zone and the South Pit soil anomalies to the south has shown that the two anomalies are continuous as defined by gold values in excess of 500 ppb (0.5 g/t) gold. This gold-arsenic+/-antimony anomaly is now approximately 500 metres by 2100 metres in size, with diamond drilling having tested an area of 170 by 350 metres. The 36 Zone remains a compelling bulk tonnage-style gold target. Favourable results from preliminary metallurgical studies (see news releases dated June 25 and April 8, 2005) show that this mineralization is amenable to leaching, with gold recoveries averaging 73-81%.
Prospecting, trenching and diamond drilling were completed at the 52 Zone, where high grade gold and silver mineralization was discovered in 2004. Mineralization at the 52 Zone consists of steeply-dipping, west-northwest trending, quartz-pyrite-arsenopyrite+/-sphalerite-galena-sulphosalt veins from 0.1 m to 0.75 m in width. Trench vein chip sample results range from 0.25 metres of 158.5 g/t gold and 363.0 g/t silver to 0.5 metres of 2.4 g/t gold and 57.5 g/t silver. Subsequent diamond drilling, combined with the surface results has shown mineralization to be variable in nature, with the best drill intersection averaging 6.24 g/t gold and 8.8 g/t silver over 0.59 metres in hole TIDE05-06. The 52 Zone occurs within a corridor of west-northwest trending veins characterized by a large area of anomalous antimony-silver-arsenic+/-gold soil geochemistry. Prospecting along this corridor yielded chip samples up to 1 km away from the 52 Zone, ranging in value from 0.17 g/t gold and 7.3 g/t silver, to 18.5 g/t gold and 2300 g/t silver over 50 cm and 30 cm, respectively.
Analytical results from the current program were completed at ALS Chemex in North Vancouver, BC. The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by the Companies' qualified persons, David Caulfield, P. Geo., President and CEO of Rimfire Minerals Corporation and David W. Moore, P. Geo., President and CEO of Serengeti Resources Inc. A detailed description of Quality Assurance / Quality Control procedures is available on the Companies' websites. Equity Engineering Ltd. provided geological and project management expertise and Driftwood Diamond Drilling Ltd. provided diamond drilling services.
Rimfire is an aggressive, well-financed mineral exploration company with a portfolio of highly prospective gold and silver properties in the western Cordillera. Partners include AngloGold (U.S.A.) Exploration Inc., Barrick Gold Corporation, Newmont Mining Corporation, Northgate Minerals Corporation, Cangold Limited, and Serengeti Resources Inc.
Serengeti is a mineral exploration company, under experienced management who bring a solid track record of discovery. Serengeti is focused on discovery of copper-gold and gold-silver deposits in British Columbia, especially in the highly prospective Quesnel Trough and Stewart mining camp.
AI
