Golden Rim Resources (ASX: GMR) has announced a highly encouraging update on its exploration campaign at the Kouri Gold Project in Burkina Faso, West Africa.
The company reported that a zone of high-grade gold up to 42.7g/t gold was discovered in the northern portion of the 1.4Moz Mineral Resource.
GMR said that the mineralisation now extends up to 550m northeast of the Mineral Resource into the Kogodou Prospect and remains open.
Best new gold intercepts from the latest RC drilling include 18m at 3.4g/t gold from 54m; including 1m at 42.7g/t gold from 65m; 13m at 1.1g/t gold from 92m; and 13m at 1.2g/t gold from 125m.
The company said that the results continue to confirm the significant upside for additional and high-grade gold mineralisation within the current Mineral Resource and to extend the gold lodes that comprise the Mineral Resource along strike to the northeast.
GMR said that the drilling is on-going and a Mineral Resource update for Kouri is scheduled for the June 2020 quarter with the objective of a significant expansion of the current 1.4Moz gold Mineral Resource.
Kouri project
The Kouri Project is located 230km NE of Ouagadougou, on the Samira Greenstone Belt in Burkina Faso, West Africa. The project covers an area of 325km2.
Golden Rim had acquired two exploration permits, Goueli permit and Margou permit which lie directly adjacent to the eastern boundary of the Kouri permit. The Kogodou Prospect extends for 3.8km to the east of the current 1.4Moz Mineral Resource.
Exploration campaign at Kouri
GMR had commenced an exploration campaign at Kouri, which is currently still ongoing.
The company said that assays have been received for 9 reverse circulation (RC) drill holes for a total of 1,298m.
GMR said that the 9 RC drill holes were located either within the Mineral Resource area (infill drill holes BARC357 – BARC361) or at the Kogodou Prospect that lies directly to the east of the Mineral Resource (drill holes GRC009, GRC012, GRC013, and GRC016).
Encouraging assays from infill drilling
The company announced that the infill drilling is initially being conducted on a 50m x 50m spacing in the northern portion of the 1.4Moz Mineral Resource beneath Guitorga Hill.
GMR reported that assays have been received for 5 RC infill drill holes BARC357, BARC358, BARC359, BARC360, and BARC361, with highly positive results.
High-grade results
The company said that a broad intersection of 18m at 3.4g/t gold from 54m, including a zone of high-grade gold, 1m at 42.7g/t gold, from 65m of was discovered in BARC361. Other intersections from BARC361 includes 4m at 1.2g/t gold from 139m and 9m at 1.1g/t gold from 147m.
Best intersections from RC drill hole BARC360 include 13m at 1.1g/t gold from 92m and 13m at 1.2g/t gold from 125m. Intersections from RC drill hole BARC359 include 4m at 1.6g/t gold from 38m, 5m at 2.5g/t gold from 60m, and 6m at 1.5g/t gold from 87m. Highlights from RC drill hole BARC358 include 8m at 1.1g/t gold from 35m.
Assays pending for 3 RC holes
GMR said that samples for a further 3 RC infill drill holes (BARC362 – BARC364) are at the laboratory in Ouagadougou (Burkina Faso) and assays are pending.
RC Drilling at Kogodou Prospect
GMR reported that the drilling on an initial 100m x 50m spacing is being conducted at the Kogodou Prospect immediately along strike to the northeast of the Mineral Resource. The company said that the objective is to extend the Mineral Resource through the Kogodou Prospect.
Golden Rim said that assays have been received for 4 RC drill holes, GRC009, GRC012, GRC013, and GRC016, that have been drilled along Structure B.
The company said that the new results confirm the multiple gold lodes comprising the Mineral Resource now extend up to 550m northeast into the Kogodou Prospect and remain open.
The best new gold intercepts at Kogodou include 2m at 1.5g/t gold from 4m and 11m at 0.6g/t gold from 63m (hole GRC016); 10m at 0.8g/t gold from 41m (hole GRC013); and 3m at 3.4g/t gold from 11m (hole GRC012)
The company said that the samples for a further three RC drill holes, GRC010, GRC011, and GRC016, are at the laboratory in Ouagadougou (Burkina Faso) and assays are pending.
Mineral Resource update
GMR said that the Mineral Resource update for Kouri is scheduled for the June 2020 quarter with the objective of a significant expansion of the current 1.4Moz gold Mineral Resource.
What’s next?
The company announced that Promising results will be followed up (where practicable) with trenching and further RC or diamond drilling.
GMR said that exploration and infill drilling will continue to target projected lateral and depth extensions of the mineralisation and to increase the confidence in the Mineral Resource.
Management comments
Golden Rim’s Managing Director, Craig Mackay, said: “The drilling we are conducting for the next Mineral Resource update at Kouri is delivering very positive results.
We are targeting the update for the June 2020 quarter and our objective is a significant expansion of the current 1.4Moz gold Mineral Resource.
We are looking to extend the Mineral Resource along strike to the northeast. Our drilling has now confirmed the gold lodes that comprise the Mineral Resource extend for a further 550m and remain open.
We are also looking to extend the Mineral Resource at depth and by infill drilling of gaps that exist in the Mineral Resource in a number of areas. Our initial deeper and infill drilling in the northern portion of the Mineral Resource has produced exciting results.
We are seeing broader and higher grade gold mineralisation with strong depth continuity, suggesting considerable upside to the Mineral Resource may exist in this area.”