Emerging West African gold developer, Golden Rim Resources Ltd (ASX: GMR), has executed the Share Purchase Agreement (SPA) to acquire two exploration permits, Goueli and Margou, that adjoin the Company’s 100% owned Kouri Gold Project (Kouri) in Burkina Faso, through the acquisition of Lafi Gold Limited and Nemaro Gold SARL.
Emerging West African gold developer, Golden Rim Resources Ltd (ASX: GMR), has executed the Share Purchase Agreement (SPA) to acquire two exploration permits, Goueli and Margou, that adjoin the Company’s 100% owned Kouri Gold Project (Kouri) in Burkina Faso, through the acquisition of Lafi Gold Limited (a company in the Pella Group of companies (Pella Group)) and Nemaro Gold SARL.
HIGHLIGHTS
· Share Purchase Agreement to acquire two exploration permits, Goueli and Margou, located adjacent to the Company’s Kouri Gold Project (Kouri) has been executed.
· Golden Rim’s 1.4Moz gold Mineral Resource at Kouri extends directly to the northeast into the new permits, providing significant potential to expand the existing resource base.
· Acquisition will provide a fourfold increase in the permit area of Kouri to 245km2 and increase the Company’s control over the highly prospective Samira Hill Shear Zone from 16km to 40km.
· Completion of the acquisition will result in the Pella Group, who has a strong track record in exploration and development in Africa and investments in resource assets in 16 African countries, becoming a significant shareholder in Golden Rim.
The Goueli and Margou permits are adjacent to the eastern boundary of the Kouri permit, where the Company has delineated a 1.4Moz gold Mineral Resource. The mineralisation at Kouri appears to extend into to the Goueli and Margou permits providing significant potential to further increase the Mineral Resource.
Golden Rim’s Managing Director, Craig Mackay, said he was pleased the SPA has now been signed.
“We are excited about moving towards completion of the acquisition as the Goueli and Margou permits will provide a further 24km of highly gold prospective shear zone for us to explore for additional gold resources.
“We look forward to working with the Pella Group who are considered mining veterans in Africa.
“Following completion of the acquisition, we expect to hit the ground running with RC drilling directly along strike from the 1.4Moz Mineral Resource and into the new permits, as well as trenching at the newly identified Granite Target, which is also in the new permit area.”
