Golden Rim Resources (ASX: GMR) reported that an updated geological interpretation following receipt of new data has highlighted that the contact areas between granites and surrounding volcanic rocks appear to be favourable depositional sites for gold mineralisation at Kouri project.
GMR said that the updated geological interpretation has identified a number of new granite contact target areas that have the potential to host high-grade gold.
Golden Rim announced that two prospects with granite contact target areas have been prioritised for the next drilling campaign, Diabatou Prospect and Mirga Prospect.
The company said that further drilling results received NE of the 1.4Moz Mineral Resource at Kouri has extended the NE strike of the gold lodes that comprise the Mineral Resource to 650m. The gold lodes remain open.
GMR said that the COVID-19 travel restrictions within Burkina Faso have been eased and access to Kouri is again possible.
Golden Rim said that it is expecting to recommence field work at Kouri on 3 June 2020.
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.
Geological interpretation completed
GMR said that an updated geological interpretation for Kouri based on newly acquired ASTER imagery, previous geophysical data (airborne and ground magnetics and Induced Polarisation), satellite imagery, bottom of auger hole geology, and geological mapping has been completed.
Granite intrusions identified
The company announced that a number of granite intrusions that lie within the Samira Hill Shear Zone at Kouri have been identified.
GMR said that these granites are believed to be younger than the surrounding older basement granites and were largely emplaced prior to the deposition of the gold mineralisation along the Samira Hill Shear Zone.
Golden Rim said that the contact areas between the granites and the surrounding volcanic rocks are believed to have provided favourable depositional sites for gold mineralisation and offer the company a number of highly prospective additional target areas for exploration.
GMR announced that new granite contact target areas have been identified within at least eight prospect areas. Of those, two prospects, Diabatou and Mirga have been prioritised for the next drilling campaign.
The company said that the updated geological interpretation has outlined a 2.6km x 1.2km granite intrusion that wraps around a central embayment of volcanic rocks at the Diabatou Prospect.
High-grade results received from previous drilling along the southern granite contact area of this intrusion are now interpreted to lie within the upper portion of a steeply plunging high-grade gold shoot, now known as the Diabatou Gold Shoot, which remains open at depth and along strike.
Drilling intersections from previous drilling included 9m at 3.6g/t gold from 49m, including 1m at 15.1g/t gold from 50m (MRC016); 6m at 9.5g/t gold from 63m, including 1m at 20.9g/t gold from 63m & 1m at 27.0g/t gold from 66m (MRC026); and 4m at 12.6g/t gold from 77m, including 2m at 22.5g/t gold from 78m (MRC027).
The company said that discovery of the Diabatou Gold Shoot is significant as elsewhere in Burkina Faso, steeply plunging, high-grade gold shoots discovered in granite contact areas can extend vertically for more than 1km and host more than 1Moz of gold.
Golden Rim said that its next drilling at the Diabatou Prospect will target extensions to the mineralisation of the Diabatou Gold Shoot as a priority. The company said that a 750m long gold auger anomaly (up to 157ppb gold) along the northern granite contact offers an additional new drill target at the Diabatou Prospect.
The company reported that 3.2km x 1.5km granite intrusion has been outlined in the updated interpretation, 3km NE of the 1.4Moz Mineral Resource within the Mirga prospect.
The company said that 1km long gold auger anomaly (up to 200ppb gold) with coincident anomalous rock chip samples results (up to 11.7g/t gold) along the southern contact of the granite intrusion offers a new drilling target.
Assays received for 4 RC drill holes
The company announced that assays have been received for a further 4 reverse circulation (RC) drill holes GRC011, GRC014, GRC015, and GRC017 located along strike to the NE of the 1.4Moz gold Mineral Resource area.
GMR said that gold mineralisation was intersected in all four holes, with the best intercept of 5m at 1.0g/t gold from 42m in GRC017.
The company said that the results extend the NE strike of the gold lodes that comprise the Mineral Resource to 650m and the strike of the gold lodes remain open.
The company reported that it has received its first permit renewal for the Kouri Permit, which is where the 1Moz gold Mineral Resource is located.
GMR said that the Gouéli Permit has been transferred to the Company’s 100% wholly owned Burkina Faso subsidiary, Nemaro Gold SARL. Previously, the permit had been held in trust pending the transfer.
Updates and next steps
The Company said that it aims to be both upgrading its Mineral Resource at Kouri while moving toward a more diversified gold portfolio. The Company has been investigating new business development opportunities and is looking forward to commencement of the next drilling program to capitalize on the strong appetite in the gold market.
GMR said that it is continuing to investigate new business opportunities across the African continent, including greenfield and very advanced gold project opportunities.
With the easing of COVID-19 restrictions in Burkina Faso, Golden Rim is expecting to recommence exploration at Kouri on 3 June 2020.
The company said that field checking will be conducted over the new granite contact target areas initially and follow up drill hole locations will be planned. GMR said that the RC drilling is expected to follow later in the month.
Golden Rim’s Managing Director, Craig Mackay, said: “A break in field work during the COVID-19 pandemic has given us an excellent opportunity to review our existing and extensive geological, geochemical and geophysical data sets for Kouri. Together with newly purchased ASTER data we have prepared a updated geological interpretation for Kouri.
We have identified a number of previously unknown granite intrusions along the Samira Hill Shear Zone that extends for 40km through Kouri and we believe granite contact areas offer highly prospective new targets for Golden Rim.
We have previously drilled four holes on one of these granite contact areas at the Diabatou Prospect. All four holes hit high-grade gold and we believe we have discovered the upper portion of a high-grade gold shoot.
In Burkina Faso, such high-grade gold shoots can extend for more than 1km below surface and host more than 1Moz of gold.
We look forward to testing for extensions to the gold shoot at Diabatou when we re-commence of our drilling.”