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Golden Rim Resources (ASX:GMR) - Managing Director, Craig Mackay
Managing Director, Craig Mackay
Source: The Market Herald
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  • Gold explorer Golden Rim Resources (GMR) will target granite contact areas suspected to host high-grade gold at its Kouri project in Burkina Faso
  • An updated geological interpretation of the Diabatou prospect indicates a steeply-plunging gold shoot, possibly similar to other million-ounce deposits in West Africa
  • The Mirga prospect has also shown promise across a one-kilometre anomaly on the edge of a granite intrusion, which will be further drill tested
  • While granite contact areas have been identified at eight separate prospects, the Diabatou and Mirga sites will be prioritised in the next round of drilling
  • Golden Rim Resources closed 12.5 per cent higher on Tuesday, with shares trading for 0.9 cents each

Gold explorer Golden Rim Resources (GMR) will target granite contact areas suspected to host high-grade gold at its Kouri project in Burkina Faso.

Recent drilling, sampling and surveying at Kouri revealed two prospects with the possibility of extensive deposits, and the potential to significantly expand the known mineralised footprint.

Diabatou prospect

An updated geological interpretation of the Diabatou prospect has outlined a 2.6- by 1.2-kilometre granite intrusion.

Previous high-grade drill results along the southern contact area of this intrusion are now believed to be the upper portion of a steeply-plunging gold shoot, similar to other sites in Burkina Faso which are known to host lodes of over one million ounces.

The suspected shoot currently remains open at depth and along strike.

The next drilling program at Diabatou will target potential extensions to the shoot to gain a better understanding of both the underlying geology and mineralisation present.

Diabatou also hosts another promising area where a 750-metre anomaly at the northern edge of the granite intrusion offers another target for future drilling.

Mirga prospect

The Mirga prospect hosts a 3.2- by 1.5-kilometre granite intrusion which lies approximately three kilometres northeast of the 1.4 million ounce Banouassi mineral resource.

A one-kilometre long gold auger anomaly along the southern edge of the intrusion offers a new target for drill testing. Previous samples contained up to 200 parts per billion gold with coincident anomalous rock chip samples containing up to 11.7 grams per tonne.

This target presents further potential to expand the Kouri mineralised footprint.

Next steps

Extension drilling at the Banouassi resource has extended the northeast strike of the lode to 650 metres. The lodes remain open and will be further drill tested in the hope of further expanding the resource.

Work at Kouri had been largely suspended while Burkina Faso was in lockdown, but with the lifting of restrictions operations are set to recommence on Wednesday June 3.

While granite contact areas have been identified at eight separate prospects, the Diabatou and Mirga sites will be prioritised in the next round of drilling.

Diabatou in particular stands to be a feather in Kouri’s cap if it does prove to host a steeply-plunging shoot similar to the million-ounce resources at Roxgold’s Yaramoko mine, and West African Resources’ M1 South shoot.

GMR will provide updates as results come to hand.

Golden Rim Resources closed 12.5 per cent higher on Tuesday, with shares trading for 0.9 cents each.

GMR by the numbers
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