Golden Rim now has high-grade gold in 4 areas of Kouri project; shares jump
Special Report: The prospects for Golden Rim’s other targets in West Africa are looking very promising with high-grade gold now having been discovered in four areas at the company’s flagship Kouri project in Burkina Faso.
A day after revealing it had unearthed a new zone of high-grade gold mineralisation at its Diabatou prospect, Golden Rim (ASX:GMR) told shareholders it had put its foot on grades of up to 41 grams per tonne (g/t) gold at its Margou and Gouéli permits.
Anything above 5g/t is generally considered high-grade, so 41g/t is pretty high grade indeed.
The news gave shares a nice 10 per cent bump up on Friday morning to 1.1c.
This means high-grade gold has now been found in four areas: Kogodou, Diabatou, Diabatou East (formerly Diabatou South East) and Sirba.
A total of 1,063 rock chip samples have been collected from outcrop and artisanal pits across the Margou and Gouéli permits.
The top rock chip results all came from the Kogodou prospect and included grades of 41.2g/t, 14.7g/t, 14.6g/t and 10.1g/t gold.
The Kogodou prospect lies directly east of the current 1.4-million-ounce resource, which Golden Rim says highlights the potential for a major strike extension to resources.
Golden Rim hasn’t been wasting any time in trying to hit its 2-million-ounce resource target.
West Africa is definitely the place to be for gold explorers, with Burkina Faso in particular proving to be a treasure trove.
Burkina Faso is Africa’s third largest exploration jurisdiction for gold and the continent’s fourth largest producer.
To give you an idea of just how prospective this area of Burkina Faso is for Golden Rim, Kouri is connected to a major fault system which controls a number of mammoth gold deposits in Burkina Faso, like Kiaka (5.9moz), Bomboré (5.2moz), Essakane (7moz) and Sanbrado (2.8moz).
The Kouri deposit itself — about 3.2km long and defined to about 115m depth — remains ‘open’, which means Golden Rim hasn’t found where the gold ends in any direction.
Previous drilling of the Diabatou prospect by Golden Rim delivered very high-grade near surface intersections like 1m at 783.8g/t gold from 44m, inside a larger 7m intercept grading 121.2g/t.
Now the company has started drilling the western portion of the Kogodou prospect.
Golden Rim plans to continue diamond and reverse circulation across the rest of the prospect in early 2020.
This story was developed in collaboration with Golden Rim Resources, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.