- Golden Rim Resources (GMR) receives the best intersection so far from a drilling program conducted at its Kada Gold Project in Guinea
- One hole from the resource definition program has intersected 1.3g/t gold over a 46-metre interval which lies on the most northern section of drilling
- Gold mineralisation remains open to the north and follow-up drilling will be conducted to define extensions to the shallow mineralisation
- The recently completed drilling aimed to support a maiden mineral resource estimate which is on track to be delivered before the end of the year
- Company shares ended the day 12.5 per cent in the green to close at 0.9 cents
Golden Rim Resources (GMR) has received assay results from four holes drilled at the Kada Gold Project in Guinea.
The company recently completed a phase one resource definition drilling program at the Kada Gold Project which included eight diamond holes and 18 reverse circulation (RC) drill holes. The aim of this drilling was to complete a maiden mineral resource estimate.
The company called the new assays “encouraging” and was particularly pleased with the results from hole KRC001.
KRC001 intersected 11 metres at 1.8 grams of gold per tonne (g/t) from 12 metres, 46 metres at 1.3g/t gold from 51 metres including both 11 metres at 3.1g/t gold from 69 metres and one metre at 15.7g/t gold from 69 metres.
Managing Director Craig Mackay said he was impressed by the results from this drill hole.
“Our new gold intersection of 46 metres at 1.3g/t gold from Kada is the best so far from the first round of resource definition drilling. It is exciting that it lies on the most northern section of drilling included in the Newmont gold resource and that the mineralisation is completely open to the north.”
Additional results include 13 metres at 1.9g/t gold from 73 metres including one metre at 9.2g/t gold from 73 metres.
Gold mineralisation remains open to the north where auger drilling has so far identified anomalous gold in bedrock for a further 1.4 kilometres.
The company will conduct follow-up drilling to define extensions to the shallow oxide-transition mineralisation. The maiden resource is expected to be delivered before the end of this year.
Golden Rim’s shares ended the day 12.5 per cent in the green to close at 0.9 cents.