Golden Rim Resources (ASX: GMR) has recommenced exploration work at its wholly-owned Kouri gold project in Burkina Faso, following the end of the rainy season in the region. Golden Rim has initiated a 3,000 metre infill auger drilling program to further define targets for follow-up reverse circulation drilling. The company has also announced a mineral resource update has commenced, incorporating 42 further RC holes that have been completed since the maiden resource was announced in May.
Highlights:
· 3,000m infill auger drilling program has commenced at Kouri to further define the bedrock gold anomalies at Guitorga West, Guitorga North and Red Hill.
· Mineral Resource update has commenced incorporating 42 additional reverse circulation holes that have been completed since the maiden Mineral Resource was announced in May 2018.
· Field work component of a structural study being conducted by SRK Consulting will commence next week.
· 1.2km of trenching has commenced within the Mineral Resource area to allow geological mapping for the structural study.
· 3,000m reverse circulation drilling program is scheduled to commence at Kouri in late-November 2018.
Emerging West African gold developer, Golden Rim Resources Ltd (ASX: GMR) (Golden Rim or the Company) is pleased to announce that exploration work has recommenced at its 100% owned Kouri Gold Project (Kouri) in Burkina Faso, following the end of the rainy season.
Infill Auger Drilling
A 3,000m program of infill auger drilling has commenced at Kouri. The drilling is being conducted on a 100m x 25m pattern over bedrock gold anomalous areas at Guitorga West, Guitorga North and Red Hill to further define targets for follow-up reverse circulation (RC) drilling (Figure 1).
Mineral Resource Update
A recent internal study by Golden Rim considered the bulk mining potential of the central portion of the Guitorga Lodes that comprise the majority of the maiden Mineral Resource of 1Moz at 1.5 g/t gold (at 0.5 g/t gold cut-off). The study noted that there is a considerable amount of lower grade gold mineralisation between the existing Guitorga Lodes and, that at lower cut-off grades, the multiple lodes of gold mineralisation ranging in thickness from 2m -10m coalesce into considerably thicker and more continuous zones of gold mineralisation. For example, drill section 11,300mN (Figure 2) depicts both the existing gold lodes (0.5 g/t gold cut-off grade) that were included in the Mineral Resource and the broad gold intercepts for holes BARC198 and BARC197 that were calculated at a 0.2 g/t cut-off grade, being:
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136m at 1.1 g/t gold from 0m (BARC198); and
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124m at 0.9 g/t gold from 18m (BARC197).
Golden Rim believes there is considerable merit in considering a lower cut-off grade for the Mineral Resource estimate at Kouri as it may improve the continuity of the gold lodes, mining dilution and strip ratio. As such, a planned Mineral Resource update has been moved forward and has recently commenced.
The Mineral Resource update is being prepared by RPM Advisory Services (RPM) and is due for completion in early November 2018. The updated Mineral Resource estimate will utilise a lower cut-off gold grade (yet to be determined) and will incorporate 42 additional RC holes that have been completed in the Mineral Resource area since the maiden Mineral Resource was announced in May 2018. RPM will also determine an Exploration Target including the mineralisation below and/or adjacent to the updated Mineral Resource.