- West African gold explorer Golden Rim Resources (GMR) hits its widest oxide gold intersection to date at the Kada Gold Project in Guinea
- With the second round of resource definition drilling complete, the company says the first assays continue to delineate multiple, broad, sub-parallel zones of gold mineralisation
- Oxide gold mineralisation has also been located in gaps of previous drilling which GMR says will likely add significant ounces to the maiden mineral resource estimate
- The company has extended its upcoming drilling program to 9000 metres and says it is on track to deliver a MRE by January
- Shares were trading 12.4 per cent higher at 10 cents
Golden Rim Resources (GMR) has hit its widest oxide gold intersection to date at its Kada Gold Project in Guinea.
Kada was previously explored by Newmont with 39 kilometres of drilling completed, defining a non-JORC gold resource.
Golden Rim is focussed on the extensive oxide gold mineralisation at the project and with the completion of infill drilling plans is on track to deliver a maiden JORC Mineral Resource in January.
The first assays have been received from GMR’s second round of resource definition reverse circulation (RC) drilling at the project with an intersection of 62 metres at 1.3 grams of gold per tonne being the widest yet.
The company said the overall drilling has continued to delineate multiple, broad, sub-parallel zones of gold mineralisation in the Newmont gold resource area.
The latest gold intersections are reportedly shallow, and fully or partially oxidised with best results including 21 metres at 1.1g/t gold from 32 metres, including one metre at 12 g/t gold from 42 metres and 30 metres at 1.3 g/t from 94 metres downhole.
Additionally, extensive additional oxide gold mineralisation has been located in gaps of previous drilling which Managing Director Craig Mackay said will likely add significant ounces to the maiden mineral resource estimate.
Due to the results so far, Golden Rim has decided to extend its upcoming RC drilling program from 6550 metres to 9000 metres, with just over 200 metres completed to date.
Regional auger drilling is also ongoing across Kada with two rigs in operation and assays for 536 auger holes pending.
Shares were trading 12.4 per cent higher at 10 cents at 12:42 pm AEDT.