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Re: News Archive - Tuesday, February 19, 2008
Tide Project Update -- Drilling Expands 36 Zone
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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.
A table of drill results can be viewed at http://www.rimfire.bc.ca/s/NewsRelease.asp.
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.
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. Current and
former partners include AngloGold Ashanti Limited, Barrick Gold
Corporation, Newmont Mining Company, Inmet Mining Corporation,
Northgate Minerals Corporation, Fronteer Development Group, Rubicon
Minerals Corporation, Cangold Limited, American Creek Resources Ltd.,
Island Arc Exploration Corporation and BWG.
On behalf of Rimfire Minerals Corporation
"Jason Weber"
Jason Weber, P.Geo., President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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Copyright (c) 2008 RIMFIRE MINERALS CORPORATION (RFM) All rights
reserved. For more information visit our website at
http://www.rimfire.bc.ca/ or send mailto:info@rimfire.bc.ca
Message sent on Tue Feb 19, 2008 at 9:44:06 AM Pacific Time
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