Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Golden Rim Resources has re-commenced it major reverse circulation drilling and diamond drilling program at its Kouri Gold Project
  • Over 7800 metres of the 21,000 metre program has been completed to date
  • Golden Rim is intending to undertake further drilling near the 1.4 million ounce gold indicated resource at the Kouri permit
  • Golden Rim’s share price is steady, trading for 1.5 cents apiece

Golden Rim Resources has re-commenced its major reverse circulation drilling and diamond drilling program at its Kouri Gold Project in Burkina Faso.

Over 7800 metres of RC drilling, 62 holes, were previously completed out of the 21,000 metre program before the start of the rainy season.

Approximately 9200 metres of RC drilling and 4000 metres of diamond drilling, for 100 holes, are forecast for the remainder of the program.

The Kouri Project covers an area of 325 square kilometres and is located 230 kilometres northeast of Ouagadougou – the capital of Burkina Faso.

It is located on the Samira Greenstone Belt which comprises of andesitic volcanics with fine grained metasedimentary rocks.

Diamond drilling is currently underway at the Diabatou prospect with previous drilling delivering bonanza results.

These results include 7 metres at 121.2g/t gold from 41 metres, 1 metre at 783.8g/t gold from 44 metres, and 1 metre at 65.7g/t gold.

Given these results, the Diabatou prospect was identified as a priority follow-up drill target.

The initial diamond drilling is expected to confirm the orientation of the high-grade gold mineralisation at Diabatou. Further drilling will then be undertaken to determine the extent of the mineralisation.

In addition to the drilling program at Diabatou, Golden Rim intends to undertake further drilling near the 1.4 million ounce gold indicated and inferred mineral resource at the Kouri permit.

This will provide potential to further expand the existing mineral resource.

In particular, RC and diamond drilling is planned at the high-grade gold zone, the Maré-Guitorga North induced polarisation (IP) anomaly.

This anomaly extends for at least four kilometre and lies 500 metres northwest and parallel to the mineral resource.

RC and diamond drilling is also planned to test a further 500 metres of strike extent to the gold lodes that comprise the mineral resource at the Kouri Permit and into the Gouéli and Margou permits.

Infill drilling will also be conducted within the 1.4 million ounce mineral resource with the objective of increasing the indicated proportion of the mineral resource.

Golden Rim’s share price is steady, trading for 1.5 cents apiece in a $17.44 million market cap.

GMR by the numbers
More From The Market Herald
Develop Global (ASX:DVP) - Managing Director, Bill Beament

" Develop Global (ASX:DVP) considers underground mining at Sulphur Springs

Develop Global (DVP) is considering underground mining at its Sulphur Springs zinc-copper-silver project, thanks to strong drilling results.
Marquee Resources (ASX:MQR) - Executive Chairman, Charles Thomas

" Marquee Resources (ASX:MQR) identifies lithium-bearing pegmatites at WSP

Marquee Resources (MQR) has identified multiple lithium-bearing pegmatites and layered anomalies at the West Spargoville Project (WSP) in Western Australia.

" Boss Energy (ASX:BOE) prepares for re-start of production at Honeymoon

Boss Energy (BOE) is progressing multiple work streams in preparation of the re-start of production at its Honeymoon uranium project in South Australia.

" Gladiator Resources (ASX:GLA) begins exploration at Minjingu

Zeus Resources, a wholly-owned subsidiary of Gladiator Resources’ (GLA), has begun exploration activities at the Minjingu Uranium Project.