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Rimfire Portfolio - Gillis, BC

Exploration conducted by Rimfire in the fall 2008 on the Gillis property has resulted in the discovery of precious metal mineralization in an area with no previous MINFILE occurrences and no record of exploration prior to 2005. The exploration work included extensive soil geochemical grid sampling outlining large areas of anomalous gold, silver, arsenic and antimony soil values; the source for most of these anomalies remains to be determined. The strength and extent of the soil geochemical anomalies and the discovery of gold-silver mineralization in three areas despite the challenge of vegetation and shallow overburden cover bodes well for the potential of the property. The property is located 30 km southwest of Merritt, B.C and is accessible by gravel forestry roads.

The Gillis area was targeted by the property vendor in 2005/06 on the basis of two strong gold-in-silt anomalies (12, 22 ppb) on the western side of the Gillis property, published in a federal-provincial Regional Geochemical Survey release. This work conducted by a previous operator included detailed stream sediment sampling and limited reconnaissance soil sampling over the anomalous drainages identified in the government survey. The survey work confirmed and expanded the government anomalies and outlined a multi-element soil anomaly that was left untested. It was on the basis of these soil geochemical anomalies that Rimfire acquired the property.

Rimfire has an option on the Gillis property whereby Rimfire can acquire 100% interest by making staged cash payments and conducting $300,000 in exploration over 4 years. The vendors will receive a share issuance upon definition of 500,000 oz gold resource and retain a 2.0% NSR, of which 1.5% may be purchased by Rimfire.


In 2008, Rimfire carried out a mapping, prospecting and soil sampling program (+1700 samples) focusing on the anomalous drainages on the western side of the property. Prospecting resulted in the discovery of three areas of precious metal mineralization highlighted by the Fort showing which returned 19.65 g/t gold and 201 g/t silver from a 30 cm grab sample in association with approximately 30 m of discontinuous exposure of intensive quartz veining. Two other areas, the SAV and South Side, returned float and outcrop sample values ranging from 1-4 g/t gold and 65-213 g/t silver.

The soil surveys have proved to be a very useful tool for identifying areas for further exploration. The three main clusters of soil geochemistry, measuring approximately 1.5 by 1.8 km in diameter, are too widespread to be the result of mineralization found to date signifying the presence of as yet undiscovered mineralization.


The prospecting discoveries at Gillis represent an exciting exploration opportunity in an underexplored area with good accessibility. The Gillis project is situated in the same physiographic region as the notable epithermal occurrences in the Cretaceous Spences Bridge Group which, like the Gillis, were only discovered recently. The exploration model for Gillis remains to be determined, but is distinguished from the Spences Bridge mineralized systems by the older Nicola Group volcanics/limestone host rocks and more silver-rich character. The substantial gold-in-soil geochemical footprint and the high precious metal grades found to date are a significant first step in advancing this promising target.

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