Details of the most recent exploration conducted on the “Horton Valley Diamond Prospect” Pipe
The Horton Valley Prospect pipe surface area is 5.6 ha. This would have an estimated volume yielding 15 to 30 million tonnes of potential diamond bearing host material in a possible open cut mining operation. (It is noted in the literature that “economic diamond pipes” have a minimum surface area of 1 ha and a typical average size of 12 ha, making the Horton Valley Prospect a worthy diamond exploration target).
The Horton Valley Prospect pipe geometry is confirmed as vertical with clay rich walls full of broken rock. This would form a “natural mining break” on the pipe margin. The pipe is simple in shape and there appears to be no evidence of large wall rock collapse such as in crater facies, indicating the auger program was directly in the pipe structure. The result at the Horton Valley Prospect represents a landmark stage in the Company’s exploration within the Bingara Region for diamond, now that key indicator mineral has been confirmed in fresh rock, below surface, and structurally controlled to an “explosive volcanic breccia pipe”.
The recent exploration has successfully provided the basis for the orientation of the geology on the Horton Valley Prospect Pipe and represents another important milestone in the exploration of this structure. A diamond drill hole (DDH) program is being planned currently, with a likely subsequent bulk sampling program for diamond to follow this.
Rimfire Pacific Mining NL has an important stake in the exploration effort to uncover the hard rock source(s) of 500,000 carats of diamonds historically mined during the past 100 years in the Bingara-Copeton area, northeastern NSW.
Rimfire is convinced that the diamond source(s) are local and a key exploration tool has now been developed (high sodium >0.07% eclogitic garnet indicator mineral) to find this hard rock diamond source(s).
RIM Price at posting:
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