Rimfire boosts holdings near Pogo

Vancouver — Recent staking activity by Rimfire Minerals (RFM-V, RMFRF-O) has made the junior the largest landholder in the Goodpaster district near Fairbanks, Alaska. The company staked 442 sq. km of ground in the Pogo area, near a gold mine project being developed by Teck Cominco (TEK.SVB-T, TCKBF-O) and partner Sumitomo, thereby boosting its holdings in the region to 740 sq. km.

Rimfire has been active in the Goodpaster District since 1998, after Teck Cominco announced the Pogo discovery. The underground mine project is expected to begin production this spring, based on reserves and resources containing an estimated 4.5 million oz. gold. Production is expected to average 400,000 oz. gold annually over at least a 10-year mine life.

Teck Cominco also holds exploration lands in the district, and is reported to have identified numerous high-grade gold prospects over a 12-km favourable trend.

AngloGold Ashanti (AU-N, AGD-L) is also active in the district, and last fall reported a new discovery at its LMS property, with drilling returning favourable results, including 3.4 metres of 21.5 grams gold per tonne. The mineralization is described as similar in style to the Pogo deposit, 40 km to the northeast.

Rimfire plans to explore its expanded land package in the district this season. Past work has identified a number of gold-bearing quartz veins similar to those known to exist near the Pogo deposits.