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Re: News Archive - Thursday, July 05, 2007
New Uranium Target Identified in Wernecke Mountains, Yukon
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PR07-15
Vancouver, BC - July 5, 2007: David Caulfield, President and CEO of
Rimfire Minerals Corporation (the "Company") is pleased to report that
a new uranium target has been identified on the TVA Property in the
Wernecke Mountains of north-central Yukon. Sampling of apparently
locally-derived float at the Rio Zone returned an average grade of
0.31% U3O8 from 41 samples. This target has never been tested by
drilling.
Mineralization has been identified in float and outcrop over an area
measuring at least 15 metres by 150 metres. Rock samples appear to be
locally derived, with uranium assays ranging from 0.08 % U3O8 to 0.60%
U3O8. The Rio Zone is thought to parallel a nearby radioactive zone
that can be traced for over 500 metres.
Surface trenching is currently underway in preparation for upcoming
drilling. A plan map of the RIO surface sampling can be viewed at the
following link: .
TVA is one of at least 14 key areas that have emerged from joint
venture partner Fronteer Development Group's exploration efforts on the
450 square kilometre Wernecke Project land package. Exploration has
focused primarily on the discovery of "Olympic Dam-style"
copper-gold-uranium deposits. A C$6 million exploration program is
currently underway that will be drill testing the five highest priority
targets. This program is operated by Fronteer, and funded pro-rata by
Fronteer (80%) and Rimfire Minerals Corp (20%).
Results from new target areas will be released sequentially as assay
results are received and compiled. The results contained in this news
release have been reviewed by David Kuran, P.Geo., of Fronteer
Development Group Inc., a Qualified Person under National Instrument
43-101. All samples were analyzed by ALS Chemex, North Vancouver, BC,
using ICP-AES and fire assay. Assays were completed with uranium
determinations by ME-MS-61 ICP geochemical analysis with samples
returning over 1000 ppm U were then analysed by U-XRF-10 analysis.
About Rimfire
Rimfire Minerals Corporation is an aggressive, well-financed mineral
exploration company with a portfolio of highly prospective gold and
silver properties in western North America and Australia. Rimfire is
partnered with Newmont Mining Company, Northgate Minerals Corporation,
Fronteer Development Group, Rubicon Minerals Corporation, Cangold
Limited, American Creek Resources Ltd., Island Arc Exploration
Corporation, Arcus Development Group Inc. and BWG.
On behalf of Rimfire Minerals Corporation
"David A. Caulfield"
David A. Caulfield, President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
TSX-V:RFM
Suite 700 - 700 West Pender St.
Vancouver, B.C. Canada V6C 1G8
T: (604)669-6660 F: (604)669-0898
E-mail: info@rimfire.bc.ca
Web Site: www.rimfireminerals.com
Contact: David Caulfield or Jason Weber
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Copyright (c) 2007 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 Thu Jul 5, 2007 at 11:05:45 AM Pacific Time
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