Special Report: In August, Golden Rim hit an astounding +783g/t intercept underneath some artisanal gold workings at the Daibou discovery. Now, it looks like those high grades are associated with a 1.6km-long anomaly which the explorer is drilling right now.
Golden Rim (ASX:GMR) has incredible upside for a sub $20m market cap stock.
The explorer is aiming to build on that flagship 1.4moz Kouri project resource with a massive 14,000m drilling blitz across its underexplored landholding in Burkina Faso.
Shareholders can expect plenty of news flow going into the New Year and beyond.
Today, Golden Rim announced initial results from an extensive geophysical survey which outlined a strong, 1.6km long, anomaly at the new Diabatou discovery.
The explorer believes that this anomaly is directly related to those recent shallow, high grade gold hits like 1m at 783.8g/t gold, inside a larger 7m section grading 121.2g/t just 41m from surface:
Anything above 5g/t is generally considered high grade.
Drilling is already well underway. A diamond drilling rig is currently on the third hole (MDH003) at Diabatou to test the new IP anomaly, 60m from this initial high-grade hit.
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In mid-October, Golden Rim announced that visible gold was observed with the mineralisation in the first diamond drill hole, MDH001.
Importantly, the orientation of the mineralisation in the drill core in MDH001 aligns with the trend of the newly identified IP anomaly.
The drill core samples from MDH001 are at the laboratory and assays are expected shortly, the company says. The drill core from MDH002 is currently being logged and sampled and will be submitted to the lab next week.
A second rig will be utilised for the next few weeks to test the southern portion of the anomaly at Diabatou, and then the northeast strike extent of the 1.4moz mineral resource in the new Goueli Permit.