- Golden Rim Resources (GMR) receives results from two diamond drill holes at its Kada Project in Guinea
- The results show broad zones of near-surface mineralisation, with results up to 1.3 grams of gold per tonne
- Mining giant Newmont previously calculated a non-JORC gold resource in 2012 for the same area after completing 34,000 metres of drilling
- A maiden JORC Mineral Resource for Kada remains on track for completion in the second half of this year
- Golden Rim Resources is up 12.5 per cent to 0.9 cents per share at 10:41 am AEST
Golden Rim Resources (GMR) has received results from two diamond drill holes at its Kada Project in Guinea, showing broad zones of near-surface gold mineralisation.
The two holes — KDH004 and KDH005 — were completed within an 800-metre by 600-metre area where NYSE-listed mining giant Newmont had previously calculated a non-JORC gold resource in 2012 after completing 34,000 metres of drilling.
Some of the most significant results include 18 metres at 1.3 grams per tonne (g/t) gold, starting at the surface, and 16 metres at 1.6 g/t gold, starting at 27 metres.
They add to Newmont’s past results, which include 41 metres at 2.1 g/t and 30 metres at 1.8 g/t of gold.
So far, Golden Rim has completed seven diamond and eight reverse circulation drill holes, with a final diamond hole currently being re-drilled after an initial attempt resulted in poor core recoveries.
“The program is progressing well and we have now completed fifteen resource definition holes,” Managing Director Craig Mackay said.
“We have seen that most holes have intersected broad zones of strong stockwork vein mineralisation. Drilling is ongoing and we eagerly await further assay results over the coming weeks.”
In an effort to step up the exploration work, a reverse circulation drill rig was recently added, which will focus on another 1300 metres of drilling once the final diamond drill hole has been completed.
“An RC drilling rig has been added to the resource definition drill-out and the delivery of a maiden JORC Mineral Resource for Kada in 2HCY21 remains on track,” Mackay added.
Golden Rim Resources is up 12.5 per cent to 0.9 cents per share at 10:41 am AEST.