VANCOUVER, British Columbia, July 15, 2002 (PRIMEZONE) -- First Au Strategies Corp. ("First Au") (TSX Venture Exchange:RFM) and Rimfire Minerals Corporation ("Rimfire") (TSX Venture Exchange:FAV) are pleased to announce that preliminary fieldwork at the Thorn Property in the Atlin Mining Division of northwestern B.C., has significantly enhanced the overall potential of the property. The target at Thorn is a high sulphidation epithermal system similar to the world-class El Indio Mine in Chile, where Barrick has reported past production and reserves of 6.2 million ounces of gold and 2 billion pounds of copper. Mineralization at the Thorn property also contains significant silver. First Au is earning a 51% interest from Rimfire, with the latter as the operator.
As part of a preliminary field program, announced June 27, 2002, Dr. Peter Lewis was contracted to examine and interpret the structural setting of the Thorn mineralization as a guide to exploration. His work has culminated in the identification of a major structural corridor (the Camp Creek Corridor or CCC), at least 1.5 kilometres in length and locally over 100m wide, as being the primary structural control for the Au-Ag-Cu mineralization at Thorn. In addition, the Thorn Stock, the primary host of the high-grade sulphide veins, may be larger than previously interpreted, thus having major implications for the extent of the mineralization. He concluded that, "The Thorn Property contains significant untested potential for high-grade veins, both within the Camp Creek Corridor and elsewhere on the property, warranting aggressive exploration." His specific recommendations will be used to plan current and future exploration programs on the property.
Concurrent with Dr. Lewis' study, the companies have identified new zones of mineralization within the Camp Creek Corridor (CCC). Prospecting within a soil anomaly obtained by Rimfire in 2000, resulted in the discovery of an angular boulder of massive sulphides that assayed 6149g/t (179 oz/t) silver, 3.5g/t gold, 43.0% lead, and 3.5% zinc. This boulder is believed to be of local origin and the new zone, called the "Oban Zone," appears to lie within the CCC in a previously unexplored area. The "D Zone", previously identified by Anaconda, but never substantiated, was relocated near the west end of the CCC. A massive sulphide boulder from this occurrence returned 4.0g/t gold, 216g/t silver, and 5.4% copper while a grab sample from a pyrite vein just below this assayed 4.6g/t gold and 75g/t silver. High-grade vein mineralization within the CCC is now exposed intermittently over a strike length of approximately 1.1 kilometres and is open in all directions.
First Au and Rimfire are both extremely pleased with the outcome of the preliminary exploration program as the identification of the dominant structural control on the high-grade veins, as well as the discovery of new mineralization within the Camp Creek Corridor, bode well for the success of the exploration program on the Thorn property.
Drill sites have been prepared for the upcoming diamond drill program, which, as part of the full work program, is scheduled to begin as soon as First Au's recently announced (June 26, 2002) financing is completed. Details of the planned drilling will be released as the program gets underway.
On behalf of Rimfire Minerals Corporation: Henry Awmack, P. Eng. Chairman
On behalf of First Au Strategies Corp.: Robert A. Archer, P. Geo. Director
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