Rimfire and Northgate Commence Drilling at Boulevard, Yukon
Rimfire Minerals Corporation announce that in partnership with Northgate Minerals Corporation drilling has commenced at its new gold discovery on the Boulevard Property. The Boulevard Property is located approximately 135 kilometres south of Dawson City, Yukon. Gold bearing mineralization, including 7.04 g/t gold over 6.0 metres, was discovered in two of three trenches over a 300 metre trend (see Rimfire news release PR08-12, August 20, 2008). The diamond drilling program will consist of 4 to 6 holes averaging 150 metres in length and is expected to be completed by mid-October.
The current program was initiated after this summer’s discovery of gold-bearing mineralization in trenches testing anomalous arsenic-antimony-gold soil geochemistry at the Boulevard. Chip sampling from the first trench (TRBV08-01) yielded 7.04 g/t gold over 6.0 metres. One hundred metres southeast, trench TRBV08-02 returned 6.43 g/t gold over 2.0 metres. Gold mineralization is hosted in strongly sericite-clay altered schists with disseminated pyrite, arsenopyrite, stibnite and specular hematite that envelopes quartz and massive stibnite veins. Additional soil sampling undertaken in conjunction with trenching has now expanded the target to an area of 2.0 by 0.4 kilometres. Drilling will aim to test mineralization encountered in the trenches at depth. Soil sampling and a reconnaissance IP geophysical survey has commenced to help expand the target, as well as refine drill hole locations along trend.
This program is being conducted under an exploration alliance agreement with Northgate Minerals signed in December, 2005. The Boulevard Property is held jointly by Rimfire and Northgate, with each company having funded the initial $330,000 in targeting and exploration that led to staking of the property. To date, Northgate has funded approximately $435,000 of the required $1.5 million in exploration expenditures to earn an additional 10% interest (for a total of 60%) in the property.
Website: http://www.rimfireminerals.com
