Golden Rim Resources provides Kouri exploration update

Golden Rim Resources provides Kouri exploration update

Emerging West African gold developer, Golden Rim Resources (ASX: GMR) has provided an update on its current mineral exploration program at its 100% owned Kouri Gold Project in Burkina Faso. A 17,000m RC drilling and 4,000m diamond drilling program is underwray at Kouri, utilising Capital Drilling Limited’s multi-purpose rig. The RC portion of the drilling program is being conducted first, with the diamond drilling to be conducted during the rainy season.


Emerging West African gold developer, Golden Rim Resources (ASX: GMR) has provided an update on its current mineral exploration program at its 100% owned Kouri Gold Project in Burkina Faso.

HIGHLIGHTS

·       Recently commenced 17,000m RC drilling and 4,000m diamond drilling program at Kouri progressing well.

·       Drill holes completed to date include:

·       4 holes in the Footwall Shear area (river channel) to follow-up a recent high-grade drill intercept of 4m at 44.7g/t gold (BARC327); and

·       3 infill holes within a higher-grade area of mineralisation in the southern portion of the 1.4Moz gold Mineral Resource where previous holes returned intercepts of 3m at 20.8g/t gold and 8m at 3.6g/t gold (BARC284) and 14m at 3.3g/t gold (BARC111).

·       First batch of assays from the drilling program expected within 2 - 3 weeks.

·       Trenching at Red Hill delivers an intercept of 5m at 1.6g/t gold was obtained in NTR006.

·       30 rock chip samples collected from within the project area. Best results include:

·       2.2g/t gold from a zone of strong quartz veining exposed in an historical pit 175m along strike to the west of the intercept of 4m at 44.7g/t gold; and

·       3.4g/t gold from a newly identified zone of gold mineralisation located 2km west of Red Hill.

·       Mapping and rock chip sampling has commenced in the Goueli and Margou permit area.

Reverse Circulation (RC) and Diamond Drilling

As previously reported, a 17,000m RC drilling and 4,000m diamond drilling program has commenced at Kouri, utilising Capital Drilling Limited’s multi-purpose rig. The RC portion of the drilling program is being conducted first, with the diamond drilling to be conducted during the rainy season (July – August).

RC drilling commenced in the river channel area of the Footwall Shear, following-up a recently obtained high-grade drill intercept of 4m at 44.7g/t gold (BARC328). Four holes (BARC337 – BARC340) have been completed at the Footwall Shear and the rig is now drilling infill holes (BARC341 – BARC343 completed to date) in an area of highergrade gold mineralisation situated in the southern portion of the Mineral Resource.

First assays are expected to be returned from the laboratory in Ouagadougou, Burkina Faso, in approximately 2 - 3 weeks. This higher-grade zone of gold mineralisation within the Mineral Resource appears to be associated with a strong, eastwest trending cross-cutting structure, clearly visible as a chargeability high anomaly in the Induced Polarisation (IP) data. 

This zone was intersected in previous drill holes BARC284 (3m at 20.8g/t gold from 70m and 8m at 3.6g/t gold from 86m) and BARC111 (14m at 3.3g/t gold from 12m), which is located 100m to the east. The objectives of the drilling program are to expand the current 1.4Moz gold Mineral Resource at Kouri and to upgrade additional areas of the Mineral Resource from the Inferred to the Indicated category. Specifically, the extensional portion of the drilling program will follow-up anomalous RC drilling and trenching results previously received from prospects located outside of the Mineral Resource area (Footwall Shear, Red Hill and within the Goueli and Margou permits that are being acquired by Golden Rim).

Currently, 86% of the Mineral Resource at Kouri is in the Inferred category. The existing drill hole spacing is 50m x 25m in the north (500m strike) and varies between 100m x 50m to 200m x 50m over the bulk of the Mineral Resource. Notably, similar gold deposits in Burkina Faso have been drilled at 25m x 25m spacing (IAMGold, Essakane).

To increase the drilling density within the Mineral Resource area, approximately 50% of the current drilling program will be directed to infill drilling. This will enable a greater portion of the Mineral Resource to be included in the Indicated category in the next Mineral Resource update.

New Geological Model

Golden Rim has commenced preparing a new geological model for the gold lodes that comprise the Mineral Resource. This new model incorporates a flatter interpretation of the gold lodes (which was confirmed by a structural study conducted by SRK Consulting) and a 0.3g/t gold cut-off grade.

Preliminary results from this modelling indicate the flatter interpretation improves the continuity of the gold lodes. In Figure 3, a new geological interpretation on cross section 11,150mN is provided as an example. The cross-section shows the multiple gold lodes that comprise the current Mineral Resource. These lodes clearly extend below 115m depth, which is the limit of the current Mineral Resource.

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