Additionally Rimfire’s recent drilling results, particularly from the **Murga North Scandium Project**, provide a solid foundation for the company’s growth in the scandium market. The **maiden Mineral Resource Estimate (MRE)** for Murga North, announced earlier, revealed **21 million tonnes** of scandium-bearing material at an average grade of **125 ppm scandium**, which amounts to around **2,650 tonnes of scandium** and **4,050 tonnes of scandium oxide (Sc₂O₃)**.
These results are significant because they represent the initial stages of what could be a much larger scandium resource as further exploration and drilling continue.The Murga North resource is notable for its **large tonnage and favorable geology**, situated within a weathered saprolite horizon, which makes it more accessible and potentially less costly to mine compared to harder rock formations. This is important because the ease of extraction plays a big role in the economics of scandium mining, helping to offset the relatively low scandium concentrations.
Additionally, Rimfire’s drilling at Murga North has identified **substantial exploration potential** outside the currently defined resource area. Reconnaissance drilling has demonstrated that there are larger scandium-bearing zones that have not yet been fully explored. Rimfire has suggested that further drilling could convert these zones into JORC-compliant resources, substantially increasing the overall size of the scandium resource at Murga North.
At the **Melrose Scandium Prospect** within the Avondale Project, the company has also made promising discoveries. Rimfire recently reported **3 million tonnes** of scandium-bearing material with an average grade of **240 ppm scandium**, totaling approximately **740 tonnes of scandium**.
While the Melrose prospect is smaller in tonnage, the higher scandium grade adds significant value, and this project complements the Murga North resource. Together, these two scandium resources position Rimfire as a major player in the scandium supply chain, especially as demand for scandium grows globally.Further exploration drilling at both the Murga and Melrose prospects is expected to continue, with the company planning to **expand its resource base** in the coming months.
The anticipated **resource upgrade** for Murga North is expected to increase the total resource tonnage and improve Rimfire’s standing in the market.
This next round of drilling results will be key for the company’s valuation, as they are likely to show the scalability of Rimfire’s scandium projects.These exploration results, combined with favorable geology and growing market demand for scandium, underpin the company’s strong position in the critical minerals sector. Rimfire’s drilling program is ongoing, and investors are awaiting the **next resource update** as it could significantly enhance the value of the company’s assets.
