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    Golden Rim’s bonanza intercept at Kouri associated with a 1.6km-long anomaly

    Golden Rim Resources Ltd (ASX: GMR) has announced a highly encouraging update on its major exploration campaign at the Kouri Gold Project in Burkina Faso, West Africa.

    The company reported that an IP survey has detected a significant chargeability-high anomaly associated with the high-grade gold mineralisation at the Diabatou Prospect.

    It may be noted that the previous RC drill holes within the IP anomaly had returned high-grade intersections of 7m at 121.2g/t gold from 41m, including 1m at 783.8g/t gold.

    Golden Rim reported that the IP anomaly extends for 1.6km offering an exciting new target and follow-up RC, diamond, and auger drilling is already underway.

    GMR also reported the progress of diamond drilling, RC drilling, as well as auger drill program at Kouri.

    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 recently acquired two exploration permits, Goueli permit and Margou permit, which lie directly adjacent to the eastern boundary of the Kouri permit.

    Diabatou prospect lies within the Margou Permit.

    IP geophysical survey at Kouri

    The company had recently commenced an extensive ground magnetic and gradient-array Induced Polarisation (IP) geophysical survey at Kouri.

    GMR said that to date, 180 line km of the planned 500 line km survey (with 100m spaced lines) has been completed.

    The company reported that the initial data from the survey has outlined a strong, 1.6km long, IP chargeability-high anomaly at the Diabatou Prospect.

    The company believes that the IP anomaly is related to the pyrite mineralisation (up to 5%) that is associated with the high-grade gold mineralisation.

    The company said that the trend of the IP anomaly aligns with the orientation readings on mineralisation obtained in the recent diamond drill core.

    Bonanza grade historical intercepts

    Previous drilling intersections within the IP anomaly at Diabatou include bonanza grades of 7m at 121.2g/t gold from 41m, including 1m at 783.8g/t gold (hole MRC008); and 4m at 23.3g/t gold from 67m, including 1m at 65.7g/t gold (hole MRC014).

    RC, diamond, and augur drilling programs at Kouri

    The company had commenced 9,200m RC drilling and 4,000m diamond drilling program for a total of approximately 100 holes at Kouri in October.

    Golden Rim had also started a major auger drilling program comprising 3,750 holes (total of ~15,000m).

    GMR reported that augur, RC, and diamond drilling are progressing well.

    Diamond drilling update

    The company reported that the diamond drilling rig is currently on the third hole (MDH003) at the Diabatou prospect, with a planned depth of 150m.

    GMR said that MDH003 is located 60m along the interpreted southwest strike extent of the high-grade gold mineralisation intersected in previous RC drill hole MRC008, and will test the new IP anomaly.

    The first two diamond drill holes MDH001 and MDH002 had previously intersected multiple zones of granite-hosted quartz-pyrite mineralisation. Visible gold was observed with the mineralisation in MDH001.

    The orientation of the mineralisation in the drill core in MDH001 is striking 060 – 07 degree and dipping 80 – 85 degree northwest, which aligns with the trend of the newly identified IP anomaly.

    The company reported that the drill core samples from MDH001 are at the laboratory and assays are expected shortly. Meanwhile, the drill core from MDH002 is currently being logged and sampled and will be submitted to the laboratory next week.

    RC drilling update

    The company announced that the RC drilling is also in progress, with a second drill rig to be utilised over the next few weeks to test the southern portion of the IP anomaly at Diabatou and then the northeast strike extent of the 1.4Moz Mineral Resource in the new Gouéli Permit.

    Augur drilling update

    GMR reported that the auger drill program has completed a total of 245 holes for 1,600m to date at Diabatou.

    The company said that drilling is initially being conducted at the Diabatou prospect and will then extend to systematically cover various target areas in the newly acquired Margou Permit.

    GMR said that an average auger hole depth of 4m is expected with drilling being conducted on lines orientated at 150 degree.

    The line spacing for the auger drilling at the Diabatou prospect is 200m, with holes being drilled every 50m along the lines. Over other areas within the Margou Permit, GMR said that an initial 400m line spacing, with holes every 50m along the lines is planned.

    Next steps

    The company said that promising results will be followed up (where practicable) with trenching and further RC or DD drilling.

    GMR said that the 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.

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    • Delayed Prices (USD) - Last Updated 29-06-2022
    • Gold $1,819.40
    • Silver $20.79
    • Platinum $909.00
    • Palladium $1,802.00
    • Dalian Iron Ore i2209 $121.88
    • Aluminium $2,495.50
    • Cobalt $72,400.00
    • Copper $8,417.50
    • Lead $2,003.50
    • Nickel $22,882.00
    • Tin $26,991.00
    • Zinc $3,318.00