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Re: News Archive - Thursday, January 22, 2009
Rimfire and Northgate Report Drilling at Boulevard Property
Yields Gold Mineralization
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PR09-01
Vancouver, BC -- January 22, 2009: (All figures in Canadian dollars)
Rimfire Minerals Corporation, TSX-V:RFM, is pleased to report results
from
Diamond drilling at the Boulevard Property, Yukon Territory.
Drilling, funded by Northgate Minerals Corporation, TSX: NGX,
intersected gold mineralization in five of seven holes (totalling 524.9
metres) to follow up a trenching discovery in the summer of 2008 (see
news release dated September 23, 2008). Drilling tested the
mineralization in the discovery trench and targets along the apparent
strike of this mineralization, within a large multi-element soil
geochemical anomaly.
Prior to this drill program, gold mineralization was discovered at the
Boulevard in the first of three trenches to investigate portions of a
2.0 kilometre (km) by 0.4 km arsenic-antimony-gold soil geochemical
anomaly in an area of sparse outcrop. The discovery trench, TRV08-01,
returned 7.04 grams per tonne (g/t) gold over 6.0 metres. Three drill
holes tested this mineralization at depth, returning 1.0 g/t gold over
1.8 metres in BV08-01, approximately 45 metres down dip from the
trench, and 0.9 g/t gold over 18 metres including 1.9 g/t gold over 3.5
metres in BV08-03 approximately 5 metres down dip from the trench.
Two holes tested beneath a second mineralized trench (TRV08-02, 6.43
g/t gold over 2.0 metres) located 100 metres southeast along trend from
TRV08-01, returned 0.8 g/t gold over 4.2 metres and 0.5 g/t gold over
5.5 metres at approximately 20 and 30 metres down dip respectively. Two
additional holes targeted anomalous arsenic-gold--antimony geochemistry
located 220 metres and 1110 metres along trend from the discovery area.
BV08-07 returned 1.0 g/t gold over 3.3 metres in a subtle style of
mineralization not observed in previous drill holes or trenches.
Gold mineralization is hosted in strongly sericite � clay altered
schists with disseminated pyrite, arsenopyrite and stibnite. Sulphide
mineralization is finely disseminated in the wall rock of quartz vein
arrays or occurs as massive sulphide veins within the arrays.
Mineralization-hosting quartz vein arrays follow regional northwesterly
structures along major contacts between lithological packages.
"Drilling and trenching in 2008 focused on a relatively small portion
of a large multi-element geochemical anomaly, resulting in the
discovery of buried gold mineralization," stated Mark Baknes VP
exploration, "Our focus will be to investigate the remainder of this
anomaly and determine the best portions for future trenching."
The Boulevard Property is held jointly by Rimfire and Northgate without
underlying royalties, with each company having funded the initial
$330,000 in exploration that led to staking of the property. To date,
Northgate has funded approximately $1.39 million 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 Corporation
Northgate is a mid-tier gold and copper producer with mining
operations, development projects and exploration properties in Canada
and Australia. The company is forecasting record production of 392,000
ounces of unhedged gold production in 2009 and is targeting growth
through further acquisition opportunities in stable mining
jurisdictions around the world. Northgate is listed on the Toronto
Stock Exchange under the symbol NGX and on the NYSE Alternext US
(formerly AMEX) under the symbol NXG.
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) 2009 RIMFIRE MINERALS CORPORATION (RFM) All rights
reserved. For more information visit our website at
http://www.rimfire.ca/ or send mailto:info@rimfire.ca
Message sent on Thu Jan 22, 2009 at 2:52:51 PM Pacific Time
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