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Rimfire and Northgate Commence Drilling at Boulevard, Yukon
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PR08--14
Vancouver, BC -- September 23, 2008: Rimfire Minerals Corporation,
TSX-V:RFM, is pleased to announce that in partnership with Northgate
Minerals Corporation, TSX:NGX, 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.
This news release has been reviewed by Mark Baknes, M.Sc., P.Geo., VP
Exploration of Rimfire Minerals, 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.
About Northgate Minerals
Northgate Minerals Corporation is a mid-tier gold and copper producer
with mining operations, development projects and exploration properties
in Canada and Australia. The company is forecasting over 385,000
ounces of unhedged gold production in 2008 and is targeting growth
through further acquisition opportunities in stable mining
jurisdictions around the world.
On behalf of Rimfire Minerals Corporation
"Jason Weber"
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.
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Copyright (c) 2008 RIMFIRE MINERALS CORPORATION (RFM) All rights
reserved. For more information visit our website at
http://www.rimfire.ca/ or send mailto:info@rimfire.ca
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