http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Tue, 22 Aug 2017 09:34:45 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Golden Rim Resources shares rise on acquiring the Kouri Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/176698/golden-rim-resources-shares-rise-on-acquiring-the-kouri-gold-project-176698.html Golden Rim Resources (ASX:GMR) has fully acquired the Kouri Gold Project in Burkina Faso by purchasing the interest held by Epsilon Gold Mines.

The company paid Epsilon US$115,000 for its 10% interest.

Furthermore, the previously agreed discovery bonus payment to Epsilon of US$1 per ounce of gold on 90% of the JORC resource at a decision to mine at Kouri has been cancelled.

Golden Rim’s shares were last trading 16.67% higher intra-day on Friday, at $0.007.

The Kouri Gold Project lies on a major mineralised fault zone that extends to the north-east into western Niger, where the 2 million ounce (Moz) Samira Hill gold deposit is located.

The fault zone is also connected to the Markoye Fault system which controls a number of large gold deposits including Kiaka (5.9 Moz gold), Bombore (5.2 Moz gold) and Essakane (6.2 Moz gold).

To date, Golden Rim has focussed its exploration on the Banouassi Prospect in the north-east portion of the licence which covers around 3 kilometres of strike along the fault zone.

The company has previously completed 15,800 metres of reverse circulation drilling and has discovered at least 20 north-east-trending gold zones at Banouassi in a 1 kilometre wide corridor.

The best drilling intercepts from Banouassi include:

- 21 metres at 5.6 g/t gold from 13 metres; and
- 10 metres at 4.5 g/t gold from 15 metres.

In July 2015, an initial exploration target of 500,000 to 611,000 ounces of gold at a range of 1.8 g/t to 2.2 g/t gold was outlined at Banouassi.

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Fri, 21 Apr 2017 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176698/golden-rim-resources-shares-rise-on-acquiring-the-kouri-gold-project-176698.html
<![CDATA[News - Golden Rim Resources Ltd tops ASX % Gainers intra-day ]]> http://www.proactiveinvestors.com.au/companies/news/155157/golden-rim-resources-ltd-tops-asx-gainers-intra-day-69567.html Friday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume Golden Rim Resources Ltd GMR $0.006 50% 12,045,555 Australia China Holdings Ltd AAK $0.004 33.33% 350,000 Moreton Resources Ltd MRV $0.004 33.33% 418,688 Wollongong Coal Ltd WLC $0.004 33.33% 31,033 Centaurus Metals Ltd CTM $0.009 28.57% 2,984,499 Agenix Ltd AGX $0.010 25% 76,479 Austpac Resources NL APG $0.005 25% 300,000 Samson Oil & Gas Ltd SSN $0.005 25% 900,000 Mineral Deposits Ltd MDL $0.250 21.95% 604,691 Walkabout Resources Ltd WKT $0.006 20% 184,000

 

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Fri, 01 Jul 2016 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155157/golden-rim-resources-ltd-tops-asx-gainers-intra-day-69567.html
<![CDATA[News - Golden Rim Resources Ltd pushes out closing date for acquisition in Chile ]]> http://www.proactiveinvestors.com.au/companies/news/155155/golden-rim-resources-ltd-pushes-out-closing-date-for-acquisition-in-chile-69079.html Golden Rim Resources Ltd (ASX:GMR) has extended the closing date for the acquisition of an advanced silver-lead-zinc-copper project in Chile.

The acquisition, which was flagged in May of a subsidiary of London listed Herencia Resources plc would see Golden Rim hold mineral concessions at the Paguanta silver-lead-zinc-copper project in northern Chile.

The Patricia Prospect hosts mineral resources of 4.4 million tonnes at 3.7% zinc, 1.4% lead, 84 g/t silver and 0.2 g/t gold at 2% zinc cut-off.

More than 40,000 metres of drilling, predominantly diamond drilling, has been conducted at Paguanta.

The majority of a Feasibility Study for Paguanta has been completed.

Past expenditure on the project is a heady US$31.5 metres (A$43m2), proving an opportunity for Golden Rim given the acquisition price.

The proposed acquisition price is US$1.5 million cash plus shares upon a decision to mine.

The closing has been extended to 13 June 2016.



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Tue, 07 Jun 2016 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155155/golden-rim-resources-ltd-pushes-out-closing-date-for-acquisition-in-chile-69079.html
<![CDATA[News - Golden Rim Resources Ltd banks $4M from Burkina Faso project sale ]]> http://www.proactiveinvestors.com.au/companies/news/155153/golden-rim-resources-ltd-banks-4m-from-burkina-faso-project-sale-67973.html Golden Rim Resources Ltd’s  (ASX:GMR) cash balance received a fillip of A$4 million after completing the sale of the Balogo Project in Burkina Faso to the MNG Group of companies (MNG).

Golden Rim’s cash balance is now A$7.5 million, and the company is also expecting to receive US$150,000 from the sale of the Yako and Babonga projects in Burkina Faso.

MNG had approached Golden Rim to consider a renegotiation of the remaining consideration for the sale of the Balogo Project, which was originally announced in February 2015.

Given the delay in the progress of the project and the recent political and security issues in Burkina Faso, Golden Rim accepted a payment of US$3 million in cash now, over the uncertainty of receiving more money in the future.

The additional cash from the sale proceeds will improve Golden Rim’s capability to acquire new mining opportunities, including more advanced projects.

The company continues to review a number of mineral projects in several countries.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 11 Apr 2016 10:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155153/golden-rim-resources-ltd-banks-4m-from-burkina-faso-project-sale-67973.html
<![CDATA[News - Gold Rim Resources is the ASX Most Traded late in the session ]]> http://www.proactiveinvestors.com.au/companies/news/155151/gold-rim-resources-is-the-asx-most-traded-late-in-the-session-67326.html Thursday's ASX Volume Leaders at the close.

Company NameCodeLastChangeVolume Golden Rim Resources GMR $0.005 66.67% 52,726,819 Transerv Energy TSV $0.021 50% 48,259,162 Alumina Limited AWC $1.375 1.10% 34,653,399 Beadell Resources BDR $0.290 9.43% 32,007,358 88 Energy 88E $0.043 2.38% 30,027,262 Raya Group RYG $0.035 16.67% 28,818,301 ResApp Health RAP $0.175 -7.90% 25,336,232 Fortescue Metals Group FMG $2.415 7.33% 24,831,215 South32 S32 $1.350 1.89% 24,700,639 Maximus Resources MXR $0.003 0% 24,222,001

 

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Fri, 04 Mar 2016 08:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155151/gold-rim-resources-is-the-asx-most-traded-late-in-the-session-67326.html
<![CDATA[News - Golden Rim Resources is Tuesday's ASX Most Traded with 53 million ]]> http://www.proactiveinvestors.com.au/companies/news/155150/golden-rim-resources-is-tuesdays-asx-most-traded-with-53-million-66941.html Tuesday's ASX Volume Leaders at the close.

Company NameCodeLastChangeVolume Golden Rim Resources GMR $0.002 0% 53,101,666 Antipa Minerals AZY $0.018 -5.26% 40,118,407 TV2U International TV2 $0.017 0% 38,826,017 Raya Group RYG $0.033 -13.16% 35,981,656 Telstra TLS $5.610 -1.06% 33,175,858 Lynas Corporation LYC $0.078 -6.02% 24,137,585 WHL Energy WHN $0.002 100% 21,589,999 KBL Mining KBL $0.033 57.14% 20,998,517 South32 Limited S32 $1.135 -4.22% 20,584,583 Ookami OOK $0.023 0% 20,207,283

 

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Wed, 10 Feb 2016 08:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155150/golden-rim-resources-is-tuesdays-asx-most-traded-with-53-million-66941.html
<![CDATA[News - Golden Rim Resources is Tuesday's ASX Most Traded with 215 million ]]> http://www.proactiveinvestors.com.au/companies/news/155148/golden-rim-resources-is-tuesdays-asx-most-traded-with-215-million-66826.html Tuesday's ASX Volume Leaders at the close.

Company NameCodeLast ChangeVolume Golden Rim Resources GMR $0.002 0% 215,106,701 Top End Minerals TND $0.072 84.62% 158,169,623 Inca Minerals ICG $0.003 -40% 27,838,168 Telstra TLS $5.610 -1.06% 27,327,816 Silver Mines SVL $0.001 0% 24,256,624 Fortescue Metals Group FMG $1.590 -5.08% 19,536,181 Metalicity Limited
MCT $0.052 1.96% 18,717,650 Ardiden Limited
ADV $0.022 -8.33% 18,398,188 Mirvac Group MGR $1.920 0.52% 17,816,008 Beacon Minerals BCN $0.004 0% 17,642,627

 

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Wed, 03 Feb 2016 08:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155148/golden-rim-resources-is-tuesdays-asx-most-traded-with-215-million-66826.html
<![CDATA[News - Golden Rim Resources recommences drilling in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155147/golden-rim-resources-recommences-drilling-in-burkina-faso-62591.html Golden Rim Resources (ASX:GMR) has recommenced reverse circulation drilling at the Guitorga auger gold anomaly of its Korongou Gold Project in Burkina Faso.

This is designed to follow-up significant new gold mineralised zones recently discovered by a drill hole in the southwest portion of the anomaly.

BARC083 intersected two mineralised zones with 21 metres at 5.6g/t gold, including 8 metres at 11.8g/t gold from 13 metres followed by 12 metres at 1.1g/t gold (from 51 metres).

The gold mineralisation is open at depth and along strike.

Golden Rim’s program will comprise 16 holes totalling 2,100 metres and is expected to be completed in about one month.



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Wed, 27 May 2015 11:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155147/golden-rim-resources-recommences-drilling-in-burkina-faso-62591.html
<![CDATA[News - Golden Rim Resources secures A$12.8M in cash from project sale ]]> http://www.proactiveinvestors.com.au/companies/news/155146/golden-rim-resources-secures-a128m-in-cash-from-project-sale-60546.html Golden Rim Resources (ASX:GMR) is set to receive a significant increase in cash reserves following the sale of its Balogo Project to MNG Gold Burkina Sarl, part of the MNG Group of companies (MNG).

Balogo has an Inferred Resource of 850,000 tonnes at 6.8g/t gold for 185,000 ounces of gold for a 0.5 g/t cut-off.

Total consideration will be A$12.8 million in cash, adding to the company's $1.2 million in cash at the end of 2014.

Based on yesterday's $0.008 closing price, Golden Rim had a market cap. of just circa A$10 million.

MNG has completed an extensive due diligence investigation on Balogo.

Golden Rim will now have sufficient cash for ongoing exploration at its Korongou Project in Burkina Faso, or to even consider new opportunities.

Recently at Korongou, auger drilling successfully identified new zones of bedrock gold mineralisation under shallow cover.

A significant, new 2.1km x 0.4km auger gold anomaly (Guitorga Line) has been outlined at the Banouassi Prospect.

The new gold anomalies have a very high gold tenor with results including 7,001 ppb, 2,449 ppb, 1,989 ppb and 1,872 ppb gold.

Adding to the potential of Korongou, some anomalies remain open along strike.


The principle terms of the sale are as follows:

- MNG to pay US$0.5 million (A$0.6 million1) in cash, refundable in the event the conditions precedent are not satisfied or waived. The funds are to be held in escrow until the conditions precedent are satisfied.

- Upon satisfaction or waiver of the conditions precedent, including the transfer of the Balogo exploration permits to MNG, Golden Rim to receive a further US$4.5 million (A$5.8 million) in cash. The parties will push for the transfer to be completed as soon as possible.

- A further US$2 million (A$2.6 million) is payable upon the earlier of the granting of an exploitation permit for mining; or within 24 months of the conditions precedent being satisfied or waived. In the event the payment is not made within 24 months (except in the event of force majeure), MNG shall transfer 49% of its interest in Balogo back to Golden Rim.

- Upon commercial production at Balogo, Golden Rim will receive an additional US$3 million (A$3.8 million) in cash.

- Golden Rim will also receive a net smelter return (NSR) of 1% on gold production at Balogo. MNG has the right to purchase the NSR from Golden Rim for a further US$5 million (A$6.4 million) in cash.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 06 Feb 2015 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155146/golden-rim-resources-secures-a128m-in-cash-from-project-sale-60546.html
<![CDATA[News - Golden Rim Resources to reveal divestment ]]> http://www.proactiveinvestors.com.au/companies/news/155145/golden-rim-resources-to-reveal-divestment-60517.html Golden Rim Resources (ASX:GMR) has been granted a trading halt by the Australian Stock Exchange pending the release of details on a potential divestment.

The company is focused on gold in West Africa, with projects covering over 1,600 square kilometres in the Birimian greenstone belts of Burkina Faso and Mali.

The halt will remain in place until the opening of trade on Monday 9th February 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 05 Feb 2015 14:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155145/golden-rim-resources-to-reveal-divestment-60517.html
<![CDATA[News - Golden Rim Resources identifies new gold anomalies in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155144/golden-rim-resources-identifies-new-gold-anomalies-in-burkina-faso-60109.html Golden Rim Resources (ASX:GMR) has identified new zones of bedrock gold mineralisation under shallow cover at the Korongou Project in Burkina Faso.

This includes the 2.1 kilometre by 400 metre Guitorga Line anomaly at the Banouassi Prospect.

The prospect was delineated by auger drilling with peak sample values of 7,001ppb, 2,449ppb and 1,989ppb and remains open to the southwest and northeast.

Guitorga gold anomaly is very broad across its centre (400m wide) and then seems to narrow to the southwest and northeast.

It strikes at N70 degrees and cuts across the trend of the known mineralisation exposed in the artisanal workings at Banouassi.

The Guitorga anomaly seems to sit in a possible dilational structural setting which is considered highly prospective for hosting bulk tonnage gold mineralisation.

The regional auger drilling program is set to continue to cover the entire Banouassi prospect. Further infill auger drilling at 100 metres by 25 metres is planned over the Guitorga Line gold anomaly.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 15 Jan 2015 13:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155144/golden-rim-resources-identifies-new-gold-anomalies-in-burkina-faso-60109.html
<![CDATA[News - Golden Rim Resources catches Sprott's investing eye ]]> http://www.proactiveinvestors.com.au/companies/news/155143/golden-rim-resources-catches-sprotts-investing-eye-56958.html Golden Rim Resources (ASX:GMR) has signed a non-binding term sheet with Sprott Private Wealth to raise up to $3,025,000.

Funds raised will be used for further gold exploration in Burkina Faso and for working capital.
 
Exploration work will be focussed on Korongou which covers 16 kilometres of prospective Samira Hill greenstone which hosts the 2 million ounce Samira Hill gold deposit.

The Indicative Term Sheet provides for 230 million to 275 million GMR shares to be placed at $0.011, with one attaching option for every two shares issued.

Each option will have an exercise price of $0.0165 and a 3 year expiry.

Sprott is a leading North American-based asset management firm with a track record of identifying and funding successful early stage resource companies.

Sprott’s willingness to take a cornerstone position in Golden Rim is recognition of the potential of GMR's gold projects in Burkina Faso, and endorsement of GMR management.

The capital raising will be distributed to Sprott’s funds and high net worth client base, and will expand its shareholder base into North America.

Golden Rim continues to evaluate various development pathways for its Balogo project, including securing funding to conduct a Bankable Feasibility Study.

At Balogo, Golden Rim has outlined an inferred resource of 850,000 tonnes at 6.8 g/t gold for 185,000 ounces, and recent exploration has discovered additional high grade gold mineralisation.

The company is valued at $12 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 15 Aug 2014 17:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155143/golden-rim-resources-catches-sprotts-investing-eye-56958.html
<![CDATA[News - Golden Rim Resources in new gold drilling at Korongou, Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155142/golden-rim-resources-in-new-gold-drilling-at-korongou-burkina-faso-55239.html Golden Rim Resources (ASX:GMR) has today commenced an auger and reverse circulation drilling program at its Korongou Project in Burkina Faso.

In addition, the final results from the rock chip sampling program at Korongou have been received with further high grade gold assays obtained.

These included samples of 122.3 g/t gold, 31.5 g/t gold, 30.1 g/t gold and 19.6 g/t gold.

In May, the secured convertible loan from Aurora Minerals (ASX:ARM) became unconditional, paving the way for receipt of $3 million in funds.

Immediately upon receipt of the funds, GMR commenced the current drilling program. Two rigs are currently in operation, with each rig completing approximately 30 holes per day.

Korongou has little outcrop and is predominantly covered with shallow laterite and soil.

Mapping completed to date has focussed on areas that have been opened up by artisanal workings. Auger drilling will provide systematic geochemical coverage beneath the laterite and soil cover.

Analysis of aeromagnetic images has shown that there are many interesting structures that are potentially gold-bearing, beneath the cover.
 
Drilling will also test new areas of artisanal mining where significant rock chips have been returned.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 27 May 2014 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155142/golden-rim-resources-in-new-gold-drilling-at-korongou-burkina-faso-55239.html
<![CDATA[News - Golden Rim Resources secures $3M loan from Aurora Minerals ]]> http://www.proactiveinvestors.com.au/companies/news/155141/golden-rim-resources-secures-3m-loan-from-aurora-minerals-54883.html Golden Rim Resources (ASX: GMR) has satisfied all conditions precedent to the secured $3 million loan from Aurora Minerals (ASX: ARM).

Receipt of the funds will allow it to recommence significant work programs in Burkina Faso.

The company plans to initially conduct auger and reverse circulation drilling programs at the Korongou Project, to follow up various targets within the 16 kilometre gold mineralised corridor.

It added that the Balogo gold project remained its main focus.

Golden Rim may repay the loan by the issue of shares to Aurora, with conversion of the first tranche resulting in Aurora having a 19.96% shareholding in Golden Rim.

Repayment of the second tranche of the loan may be made in either cash or Shares, at Aurora’s election.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 12 May 2014 18:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155141/golden-rim-resources-secures-3m-loan-from-aurora-minerals-54883.html
<![CDATA[News - Golden Rim Resources samples high grade gold in West Africa ]]> http://www.proactiveinvestors.com.au/companies/news/155140/golden-rim-resources-samples-high-grade-gold-in-west-africa-54038.html Golden Rim Resources (ASX: GMR) should trade higher today after rock chip sampling at its Korongou Project in Burkina Faso defined multiple new gold mineralised structures.

These structures are at the Big Veins and the Namagdo prospects which extend over a strike length of 7.5 kilometres.

Assays including 8.9 g/t gold, 8.3 g/t and 6.4 g/t were returned, which have extended the overall gold mineralised corridor at Korongou to more than 16 kilometres.

At Big Veins, gold mineralisation is exposed in multiple structures within a 1.2 kilometre wide corridor and over 4.2 kilometres of strike.

Gold is hosted in the iron-rich volcanic rock bands; it is probable that the iron in the volcanics is related to disseminated pyrite.

Two parallel gold mineralised zones are at least 10 metres wide, lie over 150 metres apart, and remain open to the south-west and north-east.

Notably, drilling has never been conducted at Big Veins, and a follow up reverse circulation program is currently planned.

Gold mineralisation at Namagdo lies along strike to the north-east of Big Veins and has been confirmed for over 3.3 kilometres of strike.

Active and inactive artisanal diggings have exposed mineralisation over most of this strike length, which is associated with quartz veining and with siliceous-carbonate-hematite-pyrite-rich sheared andesite.

Most of the Namadgo Prospect remains untested by drilling, and a significant drilling program is planned.

Golden Rim is capitalised at $7.5 million; strong drilling results are likely to move that higher.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 01 Apr 2014 17:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155140/golden-rim-resources-samples-high-grade-gold-in-west-africa-54038.html
<![CDATA[News - Golden Rim Resources bags funds for Balogo gold project in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155139/golden-rim-resources-bags-funds-for-balogo-gold-project-in-burkina-faso-51505.html Golden Rim Resources (ASX:GMR) has completed a placement of 50 million shares with an attaching option for each to Acorn Capital to raise $500,000 for bankable feasibility and environmental studies at its Balogo gold project in Burkina Faso.

The placement was made at $0.01 per share to raise $500,000, with the unlisted options at no cost, an exercise price of $0.015 and an expiry of 30th June 2015.

As previously announced, Golden Rim has also signed an Indicative Terms Sheet with RMB Resources for RMB Australia Holdings to provide up to $4 million to fund the completion of the bankable feasibility study for the Balogo project.

RMB Resources is currently completing its due diligence investigations and a final decision is expected in early 2014.

In the past fortnight, Golden Rim has been approached by several other parties also interested in funding the feasibility study, and have also commenced the due diligence process.

Golden Rim will assess the various alternatives to determine the best funding option for the Balogo Project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 31 Dec 2013 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155139/golden-rim-resources-bags-funds-for-balogo-gold-project-in-burkina-faso-51505.html
<![CDATA[News - Golden Rim Resources hits 14.4m grading 18.8g/t gold at Balogo, Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155138/golden-rim-resources-hits-144m-grading-188gt-gold-at-balogo-burkina-faso-50083.html Golden Rim Resources (ASX: GMR) has discovered a new, broad zone of high grade gold mineralisation from reverse circulation drilling at its Balogo Project in Burkina Faso.

A highlight intercept of 14 metres at 18.8 grams per tonne gold from 34 metres, including 4 metres at 63.8 grams per tonne, was assayed.

The Panga Lodes were intersected 600 metres north of the known Netiana Lodes where Golden Rim has defined an inferred resource of 850,000 tonnes at 6.8 grams per tonne gold for 185,000 ounces.

The Panga discovery validates Golden's recent strategy at Balogo of exploring for satellite gold mineralisation to supplement the resource on the Netiana Lodes and enhance project economics.

Similar targets associated with granodiorite-hosted quartz–sulphide veining at Balogo are yet to be drill tested, giving potential for further high grade gold discoveries.

Follow up drilling will now be scheduled.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 12 Nov 2013 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155138/golden-rim-resources-hits-144m-grading-188gt-gold-at-balogo-burkina-faso-50083.html
<![CDATA[News - Golden Rim Resources secures $4M funding for Balogo gold project BFS ]]> http://www.proactiveinvestors.com.au/companies/news/155137/golden-rim-resources-secures-4m-funding-for-balogo-gold-project-bfs-49987.html Golden Rim Resources (ASX: GMR) has secured a $4 million facility from Rand Merchant Bank to fund completion of the Bankable Feasibility Study for the Balogo gold project in Burkina Faso.

The facility is available in two tranches of $2.5 million and $1.5 million.

Balogo covers 605.2 square kilometres in southern Burkina Faso over part of the highly prospective Lower Proterozoic Birimian greenstone belt.

It is traversed for 25km by a significant NE-trending fault splay that is connected to the major Markoye Fault system.

This fault controls a number of major gold deposits in Burkina Faso, including Taparko / Bouroum (1.6 million ounces of gold), Kiaka (5 million ounces of gold), Bomboré (5.2 million ounces of gold) and Essakane (5.6 million ounces of gold).

The BFS will assess the economic viability of installing a modular 30 tonne per hour gravity and CIL plant to exploit the resource at the Netiana Lodes deposit, which has an Inferred Resource of 850,000 tonnes at 6.8 grams per tonne for 185,000 ounces of contained gold.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 08 Nov 2013 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155137/golden-rim-resources-secures-4m-funding-for-balogo-gold-project-bfs-49987.html
<![CDATA[News - Golden Rim Resources starts drilling at Burkina Faso gold project ]]> http://www.proactiveinvestors.com.au/companies/news/155136/golden-rim-resources-starts-drilling-at-burkina-faso-gold-project-48793.html Golden Rim Resources (ASX: GMR) has kicked off its long awaited auger and reverse circulation drilling programs at the Balogo gold project in Burkina Faso.

Notably, the 2,000 metre reverse circulation drilling targets the new Netiana North and Kabola anomalies that may represent satellite, open pittable, gold mineralisation that would add to its existing resource base on the Netiana Lodes.

About 1,300 metres of drilling will be carried out at Netiana North where trenching had returned 12 metres at 5.3 grams per tonne gold including 1 metre at 60.4g/t gold and 16 metres at 0.6g/t gold.

The remaining 700 metres will target the Kabola anomaly after the 2,500 metre infill auger drilling program provides the company with a better understanding of the orientation of the bedrock gold mineralisation to help locate the holes.

Kabola is larger and is higher in tenor than the auger gold anomaly over the Netiana resource, however, it is covered by 5 metres of transported black soil that is too thick for trenching.

Golden Rim will next week start further metallurgical testwork on gold mineralisation from the Netiana Lodes to determine its amenability to processing using a modular Python plant.

This could provide the company with a lower capital and operating cost alternative to a conventional modular milling and CIL plant.

It is also progressing its Bankable Feasibility Study for the project.

Netiana Lodes has an Inferred Resource of 850,000 tonnes at 6.8 grams per tonne for 185,000 ounces of contained gold.

 

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Fri, 04 Oct 2013 14:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155136/golden-rim-resources-starts-drilling-at-burkina-faso-gold-project-48793.html
<![CDATA[News - Golden Rim Resources starts Bankable Feasibility Study for Burkina Faso gold project ]]> http://www.proactiveinvestors.com.au/companies/news/155135/golden-rim-resources-starts-bankable-feasibility-study-for-burkina-faso-gold-project-46720.html Golden Rim Resources (ASX: GMR) has kicked off a Bankable Feasibility Study for its Balogo gold project in Burkina Faso with the commencement of an Environmental Impact Assessment.

Balogo is a potential high margin, low capital cost, open pit mine development that offers the company an early route towards gold production and cashflow.

The BFS will assess the economic viability of installing a modular 30 tonne per hour gravity and carbon-in-leach plant to exploit the resource at the high grade Netiana Lodes at Balogo.

Netiana Lodes has an Inferred Resource of 850,000 tonnes at 6.8 grams per tonne for 185,000 ounces of contained gold.

Golden Rim has also completed a scoping study on the Netiana Lodes which indicates that the resource can support a robust, high margin, low capital cost, open pit mine development.

The EIA is the longest time line component of the BFS and is expected to be completed by the end of June 2014. Other components of the study are expected to start in late September 2013 after the end of the rainy season.

Initially Golden Rim intends to complete an infill drilling program at Netiana to upgrade the gold resource. It is planned to utilise some of these drill holes for geotechnical, metallurgical and hydrological purposes. The drilling will be followed by mining and engineering studies.

 

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Wed, 14 Aug 2013 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155135/golden-rim-resources-starts-bankable-feasibility-study-for-burkina-faso-gold-project-46720.html
<![CDATA[News - Golden Rim Resources raises funds, eyes near-term gold production in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155134/golden-rim-resources-raises-funds-eyes-near-term-gold-production-in-burkina-faso-46350.html Golden Rim Resources (ASX: GMR) has been successful in raising funds in the current difficult markets, and has placed 85 million shares at $0.022 to raise $1.87 million.

The placement was made under the company's 15% placement capacity, and will be allocated to the Balogo Project in Burkina Faso - which has near-term production potential.

West Africa is the fastest growing gold producing region in the world, and hosts more than fifty >1 million ounce gold deposits.

Balogo hosts a high grade Inferred Resource at the Netiana Lodes of 850,000 tonnes at 6.8g/t gold for 185,000 ounces, with a Scoping Study on the Netiana Lodes indicating that the resources can support a robust, high margin, low capital cost, open pit mine development.

Metallurgy in preliminary testwork indicates recoveries in excess of 95%. The first gold production is targeted in 18 months.

To continue to progress the project, Golden Rim will undertake reverse circulation drilling of the new gold anomalies identified at Balogo, along with diamond drilling at Netiana to update the current resource estimate.

The company will also look to commence a Bankable Feasibility Study and environmental studies.


Divestment of non-core projects

With Golden Rim focussing on the Balogo and Korongou projects in Burkina Faso, the company has decided to divest non-core projects in Mali, Cote d’Ivoire and Burkina Faso.

 

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Mon, 05 Aug 2013 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155134/golden-rim-resources-raises-funds-eyes-near-term-gold-production-in-burkina-faso-46350.html
<![CDATA[News - Golden Rim Resources to increase cash position ]]> http://www.proactiveinvestors.com.au/companies/news/155133/golden-rim-resources-to-increase-cash-position-46170.html Golden Rim Resources (ASX: GMR) is currently conducting a capital raising to increase on the $500,000 position at the end of June 2013, with the ASX this morning granting the company a trading halt - with its shares placed in pre-open.

The West African gold explorer has a portfolio of projects covering an extensive 5000 square kilometres in prospective Birimian greenstone belts of Burkina Faso, Mali and Ivory Coast.

At the Balogo Project in Burkina Faso, the company has an Inferred Resource of 850,000 tonnes at 6.8g/t gold for 185,000 ounces.

During the June 2013 quarter Golden Rim discovered a new gold anomaly in weathered bedrock with a peak value of 13.5 g/t gold, which is the highest auger result obtained to date by the company in West Africa.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 2nd August 2013.

 

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Wed, 31 Jul 2013 10:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155133/golden-rim-resources-to-increase-cash-position-46170.html
<![CDATA[News - Golden Rim Resources confirms gold at satellite target in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155131/golden-rim-resources-confirms-gold-at-satellite-target-in-burkina-faso-45981.html Golden Rim Resources’ (ASX: GMR) trenching operations across the Netiana North gold anomaly in Burkina Faso have returned gold intercepts including 1 metre at 60.4 grams per tonne gold.

The results confirm the occurrence of several new significant zones of gold mineralisation directly along strike to the Netiana Lodes, which have an Inferred Resource of 850,000 tonnes at 6.8g/t gold for 185,000 ounces of gold.

Extensive quartz-hematite-stockwork veining was exposed in a number of these new trenches, typical of the high grade gold mineralisation identified in the drilling across the Netiana Lodes.

Notably, the intercept of 12 metres at 5.3g/t gold, including 1 metre at 60.4g/t gold obtained in BT27 at Netiana North is the best trench intercept obtained to date at Balogo and is higher grade than the gold intercepts in the trenches which are directly above the Netiana Lodes.

As such, the high grade gold mineralisation exposed in BT27 is a priority target for a program of follow-up reverse circulation drilling planned at Balogo after the rainy season.

The company is focusing on the discovery of satellite, open pittable, gold resources to add to its existing gold resource at Netiana Lodes. This will increase mine life and improve the economics of its planned Balogo mine development.

 

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Thu, 25 Jul 2013 15:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155131/golden-rim-resources-confirms-gold-at-satellite-target-in-burkina-faso-45981.html
<![CDATA[News - Golden Rim Resources finds more gold anomalies in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155129/golden-rim-resources-finds-more-gold-anomalies-in-burkina-faso-45871.html Golden Rim Resources (ASX: GMR) has discovered multiple gold anomalies including a peak of 13.5 grams per tonne gold from auger drilling near the Netiana Lodes of its Balogo Project in Burkina Faso.

The peak value was intersected 300 metres northeast of Netiana Lodes while an auger result of 1.5g/t gold was intersected 100 metres to the south.

The Netiana Lodes have an Inferred Resource of 850,000 tonnes at 6.8g/t gold for 185,000 ounces of gold.

Golden Rim is presently conducting an auger drilling program over 100 metre by 25 metre grids with holes of between 3 metres and 6 metres to test those areas with shallow transported soil cover.

This is part of the company’s ongoing efforts to explore for satellite, open pittable, gold resources to add to its existing gold resource on the Netiana Lodes.

Initial auger drilling over the Netiana Lodes had outlined a 300 metre by 150 metre anomaly with a peak value of 581ppb gold. This lies 65 metres above an intercept of 11.5 metres at 16.5g/t gold in diamond hole BDH013.

 

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Tue, 23 Jul 2013 16:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155129/golden-rim-resources-finds-more-gold-anomalies-in-burkina-faso-45871.html
<![CDATA[News - Golden Rim Resources finds multiple zones of high grade gold at Burkina Faso project ]]> http://www.proactiveinvestors.com.au/companies/news/155127/golden-rim-resources-finds-multiple-zones-of-high-grade-gold-at-burkina-faso-project-44562.html Golden Rim Resources’ (ASX: GMR) maiden drilling at its Banouassi Prospect in Burkina Faso has identified multiple parallel zones of gold mineralisation along a 3.3 kilometre strike length with a peak assay of 59.7 grams per tonne.

The zones remain open at depth and along strike and are located across a 1.2 kilometre wide corridor.

Notable intersections include:

-    7 metres at 11g/t gold from 141 metres, including 1 metre at 59.7g/t gold;
-    5 metres at 4.7g/t gold from 16 metres, including 1metre at 21.3g/t gold, and 9 metres at 1.4g/t gold from 50 metres, and 12 metres at 0.5g/t gold from 72 metres; and
-    8 metres at 2.6g/t gold from 67 metres, including 1 metre at 16.2/t gold.

Further gold mineralisation in multiple zones has been discovered at the Namagdo Prospect, which is located 4 kilometres southwest along strike from Banouassi.

Three of four drillholes intersected anomalous gold mineralisation with one intersecting 5 metres at 1.8g/t gold from 66 metres and 11 metres at 3.6g/t gold from 77 metres.

The maiden drilling program has confirmed that significant gold mineralisation is widespread at Korongou.

 Most of the drill holes completed by Golden Rim intersected multiple zones of gold mineralisation which remain open at depth and along strike. Further drilling is now required to delineate the extent of this mineralisation.

Follow-up drilling is expected to start later this year after the end of the wet season. This will focus on following-up the better intercepts obtained in the maiden drilling program with the aim of delineating resources in these areas.

 

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Tue, 18 Jun 2013 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155127/golden-rim-resources-finds-multiple-zones-of-high-grade-gold-at-burkina-faso-project-44562.html
<![CDATA[News - Golden Rim Resources kicks off maiden gold drilling in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155125/golden-rim-resources-kicks-off-maiden-gold-drilling-in-burkina-faso-42511.html Golden Rim Resources (ASX: GMR) has begun an initial 4,000 metre reverse circulation drilling program to test priority target areas at two gold prospects at its recently acquired Korongou Project in Burkina Faso.

The program will comprise 26 drill holes with an average depth of 150 metres at the Banouassi and Namagdo prospects.

The 315 square kilometre Korongou Project, which is being acquired from Epsilon Gold Mines, was one of the most sought after gold properties in Burkina Faso.

Extensive zones of gold mineralisation have been identified and over the past decade, Epsilon received offers to purchase the property from more than 20 companies, including several of the gold majors.

The project is believed to have the potential to quickly produce a gold resource in excess of 1 million ounces.

Korongou covers part of the highly prospective Birimian greenstone belt in Burkina Faso and is traversed by a significant northeast trending fault that connects to the major Markoye fault system.

This fault controls a number of major gold deposits including the 5 million ounce Kiaka, the 5.2 million ounce Bombore, the 5.6 million ounce Essakane and the 2 million ounce Samira Hill.

More than 70 kilometres of potential gold mineralised structures have been mapped by Epsilon or exposed in artisanal workings within the Korongou permit, and these structures are ready for drilling.


Banouassi Prospect

A total of 23 holes are planned at the Banouassi Prospect, which is located in the northeast of the Korongou permit.

More than 20 gold mineralised, parallel, northeast-trending shear structures have been identified in trenches and pits within a 1 kilometre wide corridor and over a strike length of 3.5 kilometres at Banouassi.

Drilling will target a number of these gold mineralised shear structures. Previous small scale mining along these structures produced 20,000 ounces at an average head grade of 5.2 grams per tonne (g/t) gold.

The grade of the gold mineralisation within these structures can be very high, with previous exploration returning rock chip sample results of up to 313g/t gold.

Artisanal miners have exploited gold from several small bonanza pits which graded in excess of 1,000g/t gold.


Namagdo Prospect

Three holes are planned at the Namagdo Prospect, which lies in the central portion of the Korongou permit and covers four main linear gold mineralised shear structures that have been mapped up to 5 kilometres.

The width of these mineralised structures ranged from 1 to 10 metres and rock chip sample results have returned up to 108g/t gold in previous exploration.

Golden Rim is acquiring a 90% interest in the Korongou gold project.

The company recently raised $2.27 million via a rights issue which will be used to fund exploration at the Balogo, Sebba and Korongou gold and copper-gold projects in Burkina Faso and Mali.


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Fri, 26 Apr 2013 12:10:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155125/golden-rim-resources-kicks-off-maiden-gold-drilling-in-burkina-faso-42511.html
<![CDATA[News - Golden Rim Resources raises $2.27M for African gold projects ]]> http://www.proactiveinvestors.com.au/companies/news/155124/golden-rim-resources-raises-227m-for-african-gold-projects-41476.html Golden Rim Resources (ASX: GMR) has raised $2.27 million through a rights issue of 33.66 million shares to existing shareholders.

Proceeds from the raising and the recently completed $2.1 million placement will be applied to work at the Balogo, Sebba and Korongou gold and copper-gold projects in Burkina Faso and Mali

The company had recently announced a maiden JORC Resource of 850,000 tonnes at 6.8 grams per tonne gold and positive Scoping Study results for the Netiana Lodes at Balogo.

The Study by Coffey Mining suggest that an open pit development on the Netiana Lodes would be robust, with an estimated NPV of $46 million and an IRR of 100%, giving it a capital cost payback of about six months.

Capital expenditure for a new modular 250,000 tonne per annum plant is estimated at $39 million while operating costs are about $600 per ounce at a treatment rate of 30 tonnes per hour.

The renounceable rights issue gave eligible shareholders the opportunity to purchase one ordinary fully paid share for every nine held at A$0.04 each while the placement of 52.5 million shares was also made at an issue price of A$0.04.

Golden Rim had $1.79 million in cash as of 31 December 2012.

 

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Wed, 03 Apr 2013 08:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155124/golden-rim-resources-raises-227m-for-african-gold-projects-41476.html
<![CDATA[News - Golden Rim Resources to sell Mali assets for US$4.4M, re-focuses on Burkina Faso gold ]]> http://www.proactiveinvestors.com.au/companies/news/155122/golden-rim-resources-to-sell-mali-assets-for-us44m-re-focuses-on-burkina-faso-gold-39928.html Golden Rim Resources (ASX: GMR) will shift its entire focus to its highly prospective gold projects in Burkina Faso with the proposed US$4.4 million divestment of its Mali assets.

The deal with Sandeep Gold Resources will include Golden Rim’s entire Mali exploration permit portfolio, which includes the Sepola Project in western Mali and the Faraba Project in southern Mali.

This will effect Golden Rim’s withdrawal from operations in Mali, a strategic move that will allow the company to focus on its high priority targets in Burkina Faso.

Together with the funds currently being raised through a placement and rights issue, the cash sale will provide additional funding to conduct aggressive exploration programs on these priority targets.

The sale is subject to Sandeep Gold conducting due diligence on the validity of the permits within two weeks.


Green light for Burkina Faso acquisition

Earlier this week, Golden Rim revealed its plans to proceed with the planned acquisition of a 90% interest in the Korongou gold project in Burkina Faso following successful due diligence.

The 315 square kilometre Korongou Project, which is being acquired from Epsilon Gold Mines, was one of the most sought after gold properties in Burkina Faso.

The project covers part of the highly prospective Birimian greenstone belt in Burkina Faso and is traversed by a significant northeast trending fault that connects to the major Markoye fault system.

This fault controls a number of major gold deposits including the 5 million ounce Kiaka, the 5.2 million ounce Bombore, the 5.6 million ounce Essakane and the 2 million ounce Samira Hill.

More than 70 kilometres of potential gold mineralised structures have been mapped by Epsilon or exposed in artisanal workings within the Korongou permit, and these structures are ready for drilling.


A$2.1M raised, potential $2.3M to come

Golden Rim has completed a share placement of 52.5 million shares at $0.04 each, raising A$2.1 million.

The company is also undertaking a one for nine rights issue at the same price as the placement to raise up to $2.3 million.

These funds will add to the $1.8 million in cash held at the end of the December quarter, providing Golden Rim with a substantial amount of working capital to accelerate Burkina Faso exploration.

The total funds raised by the placement and rights issue will be used to carry out a Definitive Feasibility Study for the Netiana Lodes at the Balogo Project; further exploration programs at the Balogo and Sebba projects; initial acquisition payments for the Korongou Project; and a planned reverse circulation drilling program at Korongou.


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Fri, 22 Feb 2013 14:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155122/golden-rim-resources-to-sell-mali-assets-for-us44m-re-focuses-on-burkina-faso-gold-39928.html
<![CDATA[News - Golden Rim Resources green lights Burkina Faso gold project acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/155119/golden-rim-resources-green-lights-burkina-faso-gold-project-acquisition--39802.html Golden Rim Resources (ASX: GMR) will go ahead with the planned acquisition of a 90% interest in the Korongou gold project in Burkina Faso following successful due diligence.

The 315 square kilometre Korongou Project, which is being acquired from Epsilon Gold Mines, was one of the most sought after gold properties in Burkina Faso.

The project covers part of the highly prospective Birimian greenstone belt in Burkina Faso and is traversed by a significant northeast trending fault that connects to the major Markoye fault system.

This fault controls a number of major gold deposits including the 5 million ounce Kiaka, the 5.2 million ounce Bombore, the 5.6 million ounce Essakane and the 2 million ounce Samira Hill.

More than 70 kilometres of potential gold mineralised structures have been mapped by Epsilon or exposed in artisanal workings within the Korongou permit, and these structures are ready for drilling.

Under the terms of the agreement, Golden Rim has the right to acquire a 90% interest in the Korongou project for $3 million in staged cash payments to Epsilon.

Golden Rim has plans for an immediate drilling program to outline a gold resource in excess of 1 million ounces that would be suitable for bulk mining.
 

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Wed, 20 Feb 2013 13:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155119/golden-rim-resources-green-lights-burkina-faso-gold-project-acquisition--39802.html
<![CDATA[News - Golden Rim Resources granted more time to finalise capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/155117/golden-rim-resources-granted-more-time-to-finalise-capital-raising-39611.html Golden Rim Resources (ASX: GMR) has been granted additional time by the ASX to finalise a capital raising, in the form of a voluntary suspension, which follows on from a trading halt granted earlier in the week.

Golden Rim requests that the voluntary suspension remains in place until the commencement of trade on Monday 18th February 2013.

The company is active in West Africa and recently announced that it has executed an agreement with Epsilon Gold Mines Ltd (Epsilon) to acquire 90% of the Korongou gold project in Burkina Faso - which is subject to the finalisation of Golden Rim’s due diligence.

 

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Fri, 15 Feb 2013 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155117/golden-rim-resources-granted-more-time-to-finalise-capital-raising-39611.html
<![CDATA[News - Golden Rim Resources to raise funds ]]> http://www.proactiveinvestors.com.au/companies/news/155115/golden-rim-resources-to-raise-funds-39490.html Golden Rim Resources (ASX: GMR) is in pre-open this morning after the ASX granted the company a trading halt to prepare a capital raising announcement.

The company is active in West Africa and recently announced that it has executed an agreement with Epsilon Gold Mines Ltd (Epsilon) to acquire 90% of the Korongou gold project in Burkina Faso - which is subject to the finalisation of Golden Rim’s due diligence.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 15th February 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 13 Feb 2013 10:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155115/golden-rim-resources-to-raise-funds-39490.html
<![CDATA[News - Golden Rim Resources swoops on prized Korongou gold project in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155113/golden-rim-resources-swoops-on-prized-korongou-gold-project-in-burkina-faso-38996.html Golden Rim Resources (ASX:GMR) has inked an agreement with Epsilon Gold Mines to acquire 90% of the Korongou gold project in Burkina Faso.

The Korongou project covers part of the the highly prospective Birimian greenstone belt in Burkina and is traversed by a significant northeast trending fault that connects to the major Markoye fault system.

This fault controls a number of major gold deposits in Burkina Faso, including the Kiaka with 5 million ounces of gold, the 5.2 million ounce Bombore deposit, the 5.6 million ounce Essakane deposit and Samira Hill with 2 million ounce in western Niger.

The project area covers over 315 square kilometres and consists of four permits including the Korongou exploration permit covering 65 square kilometres; the Gandeni exploration permit covering 250 square kilometre and the Banouassi mining permit encompassing 1 square kilometres within the Korongou permit.

The agreement is subject to satisfactory due diligence by Golden Rim.

Under the terms of the agreement, Golden Rim has the right to acquire a 90% interest in the Korongou project for $3 million in staged cash payments to Epsilon.

A total of $2 million is payable over a period of 2 years. The additional $1 million is payable upon the commencement of a Definitive Feasibility Study.

Epsilon will retain a 10% free carried interest in the Project until the Decision to Mine. After this time, Golden Rim will provide loans for Epsilon to maintain its 10% interest in the Project.

The project is a sought after one with more than 70 kilometres of potential gold mineralised structure having been mapped by Epsilon.

Trenching in the NE of the Korongou permit has identified more than 20 parallel gold mineralised shear structures within a 1 kilometres wide corridor.

Golden Rim has plans for an immediate drilling program to outline a gold resource in excess of one million ounces that would be suitable for bulk mining.

The company will divest some of its other Burkina Faso projects to focus on Korongou and Balogo projects.

 

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Fri, 01 Feb 2013 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155113/golden-rim-resources-swoops-on-prized-korongou-gold-project-in-burkina-faso-38996.html
<![CDATA[News - Golden Rim Resources closes in on gold resource in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155111/golden-rim-resources-closes-in-on-gold-resource-in-burkina-faso-38438.html Golden Rim Resources (ASX: GMR) has received assays from recent drilling of the Netiana Lodes within its Balogo Project in Burkina Faso which have further extended the gold mineralisation at depth and along strike.

This has paved the way for the company to begin the estimation of a JORC Resource for the Netiana Lodes, with a preliminary Resource to be released by the end of January followed by a final report in mid-February 2013.

The results from a program of diamond and reverse circulation drilling have confirmed further depth extensions to the Netiana Lodes to 240 metres below surface and the mineralisation remains open at depth.

Drilling has also increased the strike of the mineralisation for an additional 150 metres along strike to the northeast.

New results include 10.8 metres at 1.4 grams per tonne (g/t) gold from 297 metres; 3 metres at 3.2g/t gold from 268 metres; 6 metres at 1.5g/t gold from 141 metres; 8 metres at 1.1g/t gold from 109 metres; and 1 metre at 8.3g/t gold from 7 metres.


High grade gold

A batch of results previously released in late December from the Netiana Lodes included an extremely high grade intercept of 1 metre at 123g/t gold from within a broader intercept of 13 metres at 22g/t gold from 42 metres.

The Netiana Lodes is a near surface, high grade discovery which has produced earlier impressive intercepts of 57 metres at 40.6g/t gold, including 8 metres at 245g/t gold; and 31 metres at 65.6g/t gold, including 6 metres at 308g/t gold.

The average weighted grade at Netiana is 15g/t gold uncut.

Significantly, infill diamond drilling continues to demonstrate the continuity of the very high grade, shallow, oxide gold mineralisation in the Netiana Lodes.

Multiple, stacked, high grade gold lodes continue to be intersected and these lodes remain open at depth and down plunge to the northeast.

These highly positive results demonstrate the potential for Netiana to be a low CAPEX, low cost, high margin open pit operation.


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Fri, 18 Jan 2013 14:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155111/golden-rim-resources-closes-in-on-gold-resource-in-burkina-faso-38438.html
<![CDATA[News - Golden Rim Resources receives ASX speeding ticket ]]> http://www.proactiveinvestors.com.au/companies/news/155109/golden-rim-resources-receives-asx-speeding-ticket-37979.html Golden Rim Resources’ (ASX: GMR) share price has rallied 30% to an intra-day high of A$0.10 today prompting the ASX to issue a price and volume query.

This is compared to today’s opening price of $0.077. Over the course of the trading day, 3.6 million shares changed hands.

Golden Rim responded to the ASX saying it is not aware of any material information that has not been disclosed to the market, which may explain the sudden investor interest.

Most recently, in late December, the company received the second batch of results from a drilling program at the Netiana Lodes within its Balogo Project in Burkina Faso.

New diamond hole intersections included an extremely high grade intercept of 1 metre at 123 grams per tonne (g/t) gold from within a broader intercept of 13 metres at 22g/t gold from 42 metres.

The Netiana Lodes is a near surface, high grade discovery which has previously produced impressive intercepts of 57 metres at 40.6g/t gold, including 8 metres at 245g/t gold; and 31 metres at 65.6g/t gold, including 6 metres at 308g/t gold.

The average weighted grade at Netiana is 15g/t gold uncut.

Significantly, infill diamond drilling continues to demonstrate the continuity of the very high grade, shallow, oxide gold mineralisation in the Netiana Lodes.

Multiple, stacked, high grade gold lodes continue to be intersected and these lodes remain open at depth and down plunge to the northeast.

These highly positive results demonstrate the potential for Netiana to be a low CAPEX, low cost, high margin open pit operation.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 09 Jan 2013 17:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155109/golden-rim-resources-receives-asx-speeding-ticket-37979.html
<![CDATA[News - Golden Rim Resources finds gold at 343g/t in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155107/golden-rim-resources-finds-gold-at-343gt-in-burkina-faso-35595.html Golden Rim Resources (ASX: GMR) has delivered further impressive diamond drill results from the second phase drilling program at the Netiana Lodes at Balogo in Burkina Faso.

The company is targeting a maiden JORC resource for the Netiana Lodes by the end of 2012.

New highlights from the current 4480 metre program include:

- 13 metres at 111g/t gold from 56 metres, including 4 metres at 343g/t gold from 57 metres;
- 4.3 metres at 21.6 g/t gold from 89 metres; and
- 25.9 metres at 12.3 g/t gold from 55.1 metres, including 1.7 metres at 172g/t gold from 65.8 metres.

Importantly - all holes intersected multiple gold lodes, displaying good continuity through the central portion of Netiana, with the chance for extensions as some of these gold lodes remain open at depth.

Golden Rim currently has two drilling rigs on site at Balogo, with drilling designed to test for extensions of the high-grade gold mineralisation associated with the Netiana Lodes to a vertical depth of around 200 metres.

The program is also looking to confirm high grade intercepts obtained from previous reverse circulation drilling programs, which included: 57 metres at 40.6g/t gold; and 31 metres at 65.6g/t gold.

Golden Rim had $4.3 million in cash at the end of the September quarter 2012.


Drilling program

The 4480 metre program includes 19 holes, with 3,055 metres of diamond drilling and 1,425 metres of reverse circulation drilling.

Ten holes are planned to be drilled entirely as diamond core holes, with the remaining nine planned to be drilled with reverse circulation pre-collars followed by diamond core tails through the projected zones of mineralisation.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Thu, 08 Nov 2012 10:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155107/golden-rim-resources-finds-gold-at-343gt-in-burkina-faso-35595.html
<![CDATA[News - Golden Rim Resources is finalising capital raising details, placed in pre open ]]> http://www.proactiveinvestors.com.au/companies/news/155105/golden-rim-resources-is-finalising-capital-raising-details-placed-in-pre-open-31687.html Golden Rim Resources (ASX: GMR) has been granted a trading halt by the ASX pending the release of capital raising details, with the company's shares placed in pre-open.

Golden Rim has not yet indicated where the new funds will be allocated, but the company has recently been announcing bonanza gold intersections at the Yako Project in Burkina Faso.

Earlier this week Golden Rim announced from the project that gravimetric re-assaying of a previously reported intercept was now; 31 metres at 65.6 grams per tonne (g/t) gold (which equates to 2.1 ounces per tonne gold) from 48 metres.

Included in the intersection is the spectacular; 6 metres at 308.1g/t gold, which is just under 10 ounces per tonne gold.

Golden Rim has a portfolio of projects in West Africa with a combined 4100 square kilometre license holding in Burkina Faso and Mali - covering six key gold and copper-gold projects.

The trading halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 27th July.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 25 Jul 2012 14:50:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155105/golden-rim-resources-is-finalising-capital-raising-details-placed-in-pre-open-31687.html
<![CDATA[News - Golden Rim Resources: intercept assays 31m at 2.1ozpt gold in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155103/golden-rim-resources-intercept-assays-31m-at-21ozpt-gold-in-burkina-faso-31576.html Golden Rim Resources (ASX: GMR) has used gravimetric re-assaying of a previously reported high-grade intercept to identify the bonanza; 31m at 65.6 grams per tonne (g/t) gold hit (which equates to 2.1 ounces per tonne gold) from 48 metres.

Included in the intersection is the spectacular; 6 metres at 308.1g/t gold, which is just under 10 ounces per tonne gold.

The results of the gravimetric assaying confirm that standard fire assaying can significantly underestimate the gold grades in the higher grade portions of the Netiana Lodes. The gravimetric gold intercept is 136% higher than the original.

Gravimetric re-assays were completed by the ALS Chemex Laboratory in Johannesburg using a 50 gram charge fire assay with a gravimetric finish on the sample pulps used in the initial analysis method. The gravimetric finish method has a reported accuracy range of 0.05 to 1,000 g/t gold.

Another major outcome from the gravimetric assays is that they suggest the presence of an extremely high grade, flat-lying zone of supergene gold mineralisation, around 35 metres to 40 metres below the surface at Netiana, in additional to the steep dipping gold lodes.

Golden Rim has outlined an exploration plan for the second half of 2012, which has the potential to deliver a maiden JORC Resource before the end of the year.

The company will re-commence diamond drilling in mid-September to test the depth extent of the Netiana Lodes below the current limit of drilling at around 85 million below surface.

Additional work at the project in coming months includes metallurgical test work such as bottle roll cyanidation and gravity recoveries.


Golden Rim in West Africa

Golden Rim has a portfolio of projects in West Africa with a combined 4100 square kilometre license holding in Burkina Faso and Mali - covering six key gold and copper-gold projects.


Enterprise value

With a market cap. of $50 million and $2 million in cash (zero debt), Golden Rim has an enterprise value of $48 million.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Mon, 23 Jul 2012 11:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155103/golden-rim-resources-intercept-assays-31m-at-21ozpt-gold-in-burkina-faso-31576.html
<![CDATA[News - Golden Rim Resources returns stunning gold intercept in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155101/golden-rim-resources-returns-stunning-gold-intercept-in-burkina-faso-24150.html Golden Rim Resources (ASX: GMR) has returned one of the best intercepts in modern day drilling for gold in Burkina Faso, with 57 metres at 23.3 grams per tonne (g/t) gold from 40 metres including 8 metres at 131.8g/t gold at the Balogo Project.

Assays from the first 13 holes of a Phase 3 reverse circulation drilling program at Balogo returned best intercepts of:

- 57 metres at 23.3g/t gold from 40 metres, including 131.8g/t gold;
- 4 metres at 25g/t gold from 19 metres; and
- 10 metres at 7.5g/t gold from 14 metres.

Further assays are pending.

The high grades combined with the association of significant magnetite with the gold and copper mineralisation are unusual for West Africa, with Golden Rim indicating that it may have discovered an iron oxide copper gold (IOCG) deposit.

A total of 61 holes have been drilled so far in the Phase 3 program, for a total of 7,658 metres. The program will comprise 30,000 metres of drilling.

Drilling has focused on a newly defined structure, the Netiana Shear Zone, to follow up on previous high grade intercepts, including 8 metres at 5.75g/t gold and 14 metres at 2.56g/t gold and 0.14% copper.

Significant gold intercepts were obtained over 200 metres of strike, with mineralisation remaining open to the southwest and northeast.

Golden Rim is carrying out a multi-element analysis program on a number of minerlaised zones at Balogo, seeking elements in addition to gold and copper.

A second rig will be mobilised to Balogo to begin diamond drilling at Netiana.

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Mon, 16 Jan 2012 14:15:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155101/golden-rim-resources-returns-stunning-gold-intercept-in-burkina-faso-24150.html
<![CDATA[News - Golden Rim Resources locks in drill rigs for Mali and Burkina Faso, despite competition ]]> http://www.proactiveinvestors.com.au/companies/news/155099/golden-rim-resources-locks-in-drill-rigs-for-mali-and-burkina-faso-despite-competition-21244.html Golden Rim Resources (ASX: GMR) has locked in contractors for 44,000 metres of drilling in both Mali and Burkina Faso despite intense competition for drill rigs in West Africa.

West African Drilling Services will undertake exploration drilling on three Permits in Mali for Golden Rim commencing mid November 2011.

A 4,000 metres reverse circulation (RC) drilling program is planned to be conducted at the Linnguekoto West Prospect at the Sepola Project where several zones of gold mineralisation were located by trenching.

This included mineralisation of 16 metres at 3.15 g/t gold and 32 metres at 2.24 g/t gold (25m true width).

The drill program has been designed to test gold mineralisation beneath the trench intersections and the potential strike and width extent of the postulated mineralised zones.

Following the completion of drilling at Sepola, an 8,000 metre program of aircore drilling will be undertaken on the Niaouleni West Permit at the Faraba Project.

This drilling will test major gold-in-soil anomalies previously located on this licence which lie 6 kilometres south west along strike from African Gold Group’s (TSX-V:AGG) 0.7 million ounce Kobada gold deposit and along strike from their recently announced Gosso gold discovery (45m at 1.5 g/t gold in drill hole KBRC11-140).

A 2,000 metre program of aircore drilling is planned for the Faraba Permit, also at the Faraba Project, to test previously located gold and arsenic soil anomalies. These anomalies lie north east along strike from the Kobada gold deposit.

Exploration has now been underway for several weeks in both Mali and Burkina Faso following the wet season.

Further trenching and preparation for drilling has commenced at the Linnguekoto West Prospect at Sepola, Mali.

In Burkina Faso, a major soil sampling and auger drilling program has commenced at the Sebba Project and site preparation for drilling is underway at the Balogo Project.

RC drilling will likely commence at Sepola in mid November and RC drilling in Burkina Faso is on schedule to commence early November with the drill rig arriving in Ouagadougou from Canada a few days ago the company said today.

Overall, the company aims to define at least one robust gold resource project by the end of this field season.

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Thu, 27 Oct 2011 08:59:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155099/golden-rim-resources-locks-in-drill-rigs-for-mali-and-burkina-faso-despite-competition-21244.html
<![CDATA[News - Golden Rim Resources to acquire prospective Burkina Faso gold project ]]> http://www.proactiveinvestors.com.au/companies/news/155096/golden-rim-resources-to-acquire-prospective-burkina-faso-gold-project-20185.html Golden Rim Resources (ASX: GMR) has signed agreements to acquire the Diapaga gold project in far southeastern Burkina Faso, adding to its total holdings in west Africa of more than 4000 square kilometres.

The Diapaga project comprises four adjacent permits covering 960 square kilometres, and is located 350 kilometres from Ouagadougou, the capital city of Burkina Faso.

Golden Rim is able to purchase a 100% interest in each of the four permits following staged cash payments totalling $US100,000 to $US135,000 over a maximum three year period.

The agreements provide for a 1% net smelter return royalty on any gold produced from the permit.

Golden Rim has the right to withdraw from the agreements at any time.

Diapaga lies on the northeastern trending Diapaga Birmian greenstone belt and is bisected by a series of major and complex shear structures running into Niger and connected to the major Markoye Fault system.

The Markoye Fault hosts a number of significant gold deposits in Burkina Faso, including High River Resources' (TSX: HRG) Taparko mine (1.7 million ounces), IAMGOLD Corporation's (NYSE: IAG, TSX: IMG) Essakane mine (5.3 million ounces) and Orezone Gold Corporation's (TSX: ORE) Bomboré project (3.5 million ounces).

Several cross cutting structures that intersect the northeast shear structures in the project area are considered priority target areas for locating significant gold mineralisation.

The main lithological units at the Diapaga Project include typical Birimian volcano-sediments intruded by a series of mafic and felsic intrusions. New artisanal gold diggings commenced in the area a few months ago.

Golden Rim believes the Diapaga Project is highly prospective for disseminated intrusion-hosted gold deposits, similar to the company’s existing Balogo Project, and for shear-hosted gold deposits.

The Diapaga Birmian greenstone belt is considered to be one of the most under-explored greenstone sequences in Burkina Faso due to its remoteness, and has received no significant modern exploration.

Golden Rim is pursuing an active program of drilling at its projects Mali, Burkina Faso and Sweden.

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Thu, 29 Sep 2011 13:12:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155096/golden-rim-resources-to-acquire-prospective-burkina-faso-gold-project-20185.html
<![CDATA[News - Golden Rim Resources identifies anomalous copper zone in West Africa ]]> http://www.proactiveinvestors.com.au/companies/news/155094/golden-rim-resources-identifies-anomalous-copper-zone-in-west-africa-18444.html Golden Rim Resources (ASX: GMR) has identified a 1.5 kilometre copper anomaly at the Balogo Project in Burkina Faso, West Africa, after 696 soil samples were submitted for multi-element analysis for 36 elements - conducted by ALS Chemex in Johannesburg.

The results outlined an extensive copper-in-soil anomaly with results up to 2,100 parts per million copper.

The anomaly starts in the vicinity of Hole BRC001 (12 metres at 0.24 grams per tonne (g/t) gold, 0.61% copper from 19 metres, and 11 metres at 0.40g/t gold, 0.50% copper from 55 metres, where the first outcrops of the Cobra Shear occur.

The company said the shear zone is then obscured by soil cover further to the southwest.

Craig Mackay, managing director, said, “We have now outlined a major copper-in-soil anomaly at Balogo which we believe enhances the exploration potential of the Cobra Shear Zone.”

The next step for Golden Rim will be after the wet season, with the company planning to re-commence reverse circulation drilling at the Cobra Shear Zone, along with the untested portion of the major copper-in-soil anomaly.

 

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Mon, 08 Aug 2011 13:46:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155094/golden-rim-resources-identifies-anomalous-copper-zone-in-west-africa-18444.html
<![CDATA[News - Golden Rim Resources acquires strategic gold exploration permits in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155093/golden-rim-resources-acquires-strategic-gold-exploration-permits-in-burkina-faso-17450.html Golden Rim Resources (ASX: GMR) has been granted three new permits, forming part of the Sebba Project, by the Ministry of Mines in Burkina Faso.

The company considers the expansion of Sebba to be strategic for the advancement of exploration activities in the West African country.

The newly issued Maba, Nasoulou and Babongo permits are 100%-owned by Golden Rim and their combined area is 429 square kilometres, bringing the total area of Sebba to 1,928 square kilometres.

The Maba and Nasoulou permits are contiguous with the existing land holdings at Sebba. The Babongo tenement is 13 kilometres to the southwest of the Diogotta Permit.

All of the permits are located on multiple greenstone belts with major shear zones and are highly prospective for the discovery of significant gold mineralisation.

Golden Rim has gold resources and licences covering around 4,000 square kilometres in the highly prospective Birimian greenstone belts of Mali and Burkina Faso.

Golden Rim has six active gold projects in West Africa (Comin Yanga, Balogo, Sebba and Yako in Burkina Faso and Sepola and Faraba in Mali).

Mt Isa Metals (ASX: MET) recently announced a significant high-grade gold discovery in reverse circulation drilling at the Nabanga Prospect which is located 32km south of Tagou, within in the Comin Yanga Project. D’Aguilar Gold (ASX: DGR) holds 52 million shares in Mt Isa Metals.

Abu Dhabi-based Royal Group is a substantial shareholder and strategic partner of Golden Rim.

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Tue, 28 Jun 2011 10:10:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155093/golden-rim-resources-acquires-strategic-gold-exploration-permits-in-burkina-faso-17450.html
<![CDATA[News - Golden Rim Resources discovers up to 65.5 g/t gold at Comin Yanga in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155091/golden-rim-resources-discovers-up-to-655-gt-gold-at-comin-yanga-in-burkina-faso-15533.html Golden Rim Resources (ASX: GMR) has returned significant assays up to 65.5 g/t gold from its first rock chip sampling program on the previously unexplored Tagou Permit in Burkina Faso, West Africa.

The highest gold results include: 65.5 g/t gold, 28.0 g/t gold, 14.3 g/t gold, 6.0 g/t gold and 4.5 g/t gold.

The Tagou Permit is one of two permits that comprise Golden Rim’s Comin Yanga Project in southern Burkina Faso which covers an area of 205 square kilometres.

The permit is located about 120km northeast of Endeavour Mining’s (TSE: EDV) 1.5 million ounce Youga gold mine. Numerous active artisanal workings occur within the permit area.

Reconnaissance rock chip sampling has now been completed on the permit with a total of 125 rock samples collected.

Following the encouraging rock chip results, Golden Rim has already commenced a program of soil sampling at Tagou with the first results expected in May 2011.

Mt Isa Metals (ASX: MET) recently announced a significant high-grade gold discovery in reverse circulation drilling at the Nabanga Prospect which is located 32km south of Tagou. D’Aguilar Gold (ASX: DGR) holds 52 million shares in Mt Isa Metals.

The Nabanga Prospect lies on a major northeast trending shear zone which lies parallel to the shear zone hosting the high-grade gold rock chip samples at Tagou.

In addition to the Comin Yanga Project, Golden Rim has five other active gold projects in West Africa (Balogo, Sebba and Yako in Burkina Faso and Sepola and Faraba in Mali). Drilling is currently underway at the Balogo Project.

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Fri, 15 Apr 2011 11:57:00 +1000 http://www.proactiveinvestors.com.au/companies/news/155091/golden-rim-resources-discovers-up-to-655-gt-gold-at-comin-yanga-in-burkina-faso-15533.html
<![CDATA[News - Golden Rim Resources intercepts 16m at 3.15 g/t gold at Sepola Project in Mali ]]> http://www.proactiveinvestors.com.au/companies/news/155089/golden-rim-resources-intercepts-16m-at-315-gt-gold-at-sepola-project-in-mali-14985.html Golden Rim Resources (ASX: GMR) has discovered a significant new zone of gold mineralisation in trenching at the Linnguekoto Prospect in the Sepola Project, western Mali.

Channel rock chip sampling of trench two has provided an intercept of 16 metres at 3.15 g/t gold, including 1m at 17 g/t gold, with the mineralisation hosted in a quartz diorite intrusion.

If the intrusion is found to be extensive, potential exists for large volumes of gold mineralisation to be delineated. Very large intrusion-hosted gold deposits have been found elsewhere in West Africa.

The company's next phase of exploration will determine the extent of the intrusion and include further trenching and reverse circulation drilling.

Gold mineralisation has been located in all four trenches completed, although trenches 1, 3 and 4 did not intercept the quartz diorite intrusion and gold results were lower.

The new zone of gold mineralisation is located 1.6km south of an area of intense artisanal mining where very high grade gold-bearing quartz stockwork veining is being extracted from a series of shafts.

Golden Rim rock chip samples of this veining have returned assays up to 1,205 g/t gold. Previous drilling in this area has returned intercepts of up to 18m at 8.19 g/t gold.

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Mon, 28 Mar 2011 15:16:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155089/golden-rim-resources-intercepts-16m-at-315-gt-gold-at-sepola-project-in-mali-14985.html
<![CDATA[News - Golden Rim Resources hits near surface gold at Sebba in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/155088/golden-rim-resources-hits-near-surface-gold-at-sebba-in-burkina-faso-14472.html Golden Rim Resources (ASX: GMR) extensive rotary air-blast drilling campaign at Sebba Project in Burkina Faso has paid dividends, with some very near surface gold hits.

The best intercepts were in the Tyena area and occurred in a distinct cluster and including; 8 metres at 2.43 grams per tonne (g/t) gold from 12 metres, 12 metres at 1.46g/t gold from 12 metres, 12 metres at 1.34g/t gold from the surface and 12 metres at 0.95g/t gold from 16 metres.

The gold hits continued at the Diogora prospect, in the Yipley licence, where seven holes intersected significant gold mineralisation.

The highlight at Diogora was; 4 metres at 1.74g/t gold from 4 metres.

Golden Rim said the Diogora discoveries were similar to the Tyena results, as the gold mineralisation appears to be associated with quartz-tourmaline veining.

Craig Mackay, managing director, said the results were 'highly encouraging',

"The results confirm that the main 20km-long gold-in-soil anomaly is directly related to gold mineralisation located in the underlying bedrock.

"The cluster of significant gold intercepts obtained in the RAB drilling at the Tyena prospect are highly significant and provide a priority target for infill drilling."

The sheer size of the Sebba gold-in-soil anomalies adds to the potential of the project, covering 26 square kilometres.

Drilling so far by Golden Rim has only tested a very small portion of this area.

Mackay remains very positive on the project, adding “We believe additional drilling will locate further significant bedrock sources of gold.”

Golden Rim continues to move exploration forward at pace, with a high-resolution airborne aeromagnetic survey over the project area, to help the development of a detailed structural interpretation for Sebba.

This will then be followed up by infill rotary air-blast drilling, supported by reverse circulation holes.

 

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Tue, 08 Mar 2011 12:36:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155088/golden-rim-resources-hits-near-surface-gold-at-sebba-in-burkina-faso-14472.html
<![CDATA[News - Golden Rim Resources and Drake Resources JV identify copper-gold-zinc targets in Sweden ]]> http://www.proactiveinvestors.com.au/companies/news/155087/golden-rim-resources-and-drake-resources-jv-identify-copper-gold-zinc-targets-in-sweden-13688.html Golden Rim Resources (ASX: GMR) has identified new copper-gold-zinc targets from a gravity survey along strike from the Falun Mine, part of the Falun project JV, in Sweden.

Importantly, the new targets provide Golden Rim with near mine exploration.

Falun has been a very strong polymetallic deposit, with past production estimated around ; 35 million tonnes at 1-3% copper, 3-6% zinc and 0.5-3 grams per tonne (g/t) gold.

Adding to the prospectivity of the area known as the Bergslagen district, which contains Falun, there are a number of other high quality mines.

These include Garpenberg; 60 million tonnes at 5% zinc, 2% lead, 0.1% copper, 100g/t silver and 0.3g/t gold, and Zinkgruvan; 55 million tonnes at 11% zinc, 1.5% lead and 94g/t silver.

The Falun Project is located 200 kilometres north-west of Stockholm, and is part of the Bergslagen JV between Golden Rim’s Abu-Dhabi based alliance company, Royal Falcon Mining LLC and Drake Resources (ASX: DRK).

The Falun project comprises six licences covering 101 square kilometres around the historic mining centre of Falun.

 

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Fri, 04 Feb 2011 12:15:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155087/golden-rim-resources-and-drake-resources-jv-identify-copper-gold-zinc-targets-in-sweden-13688.html
<![CDATA[News - Golden Rim Resources extends major gold anomaly at Balogo in West Africa ]]> http://www.proactiveinvestors.com.au/companies/news/155085/golden-rim-resources-extends-major-gold-anomaly-at-balogo-in-west-africa-13608.html Golden Rim Resources (ASX: GMR) has extended the gold-in-soil anomaly by 600 metres at the Balogo project in Burkina Faso, West Africa.

The Balogo gold anomaly is now 2.9 kilometres long and potentially up to 1000 metres wide.

Earlier in the month Golden Rim obtained significant gold results along this contact zone, with values up to 1.2 grams per tonne (g/t) gold in soil samples.

Rock chip samples are where the action is and have returned grades up to 49.9 g/t gold.

Golden Rim is planning a reverse circulation drilling program to kick-off when the surface sampling is complete.

Balogo is one of the company’s five major gold projects in West Africa, in addition to Sebba and Yako in Burkina Faso, and Sepola and Faraba in Mali.

The news has been well received by the market, with Golden Rim's shares 11% higher to $0.155 in intra-day trading.

 

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Wed, 02 Feb 2011 13:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155085/golden-rim-resources-extends-major-gold-anomaly-at-balogo-in-west-africa-13608.html
<![CDATA[News - Golden Rim Resources identifies major new gold target in West Africa ]]> http://www.proactiveinvestors.com.au/companies/news/155083/golden-rim-resources-identifies-major-new-gold-target-in-west-africa-13297.html Golden Rim Resources  (ASX: GMR) has received new high-grade rock chip and highly anomalous soil sample assays from its Balogo Project area in Burkina Faso.

The significant results outline a major new gold target for Golden Rim, which has four gold project areas in West Africa.

Selected rock chip results include 49.9 g/t gold, 24.2 g/t gold and 16.8 g/t gold.

As soon as the surface sampling work has been completed the company will schedule a reverse circulation drilling program.

The major gold-in-soil anomaly is 2.3km long and 700m wide, striking NE-SW and open along strike in both directions. Values up to 1.2 g/t gold were obtained in the soil samples.

In order to gain a better understanding of the geological controls of mineralisation in this area, additional soil sampling and mapping is currently underway to extend the current gold-in–soil anomaly.

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Fri, 21 Jan 2011 14:14:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155083/golden-rim-resources-identifies-major-new-gold-target-in-west-africa-13297.html
<![CDATA[News - Golden Rim Resources' historical assays reveal gold mineralisation at depth in Sweden ]]> http://www.proactiveinvestors.com.au/companies/news/155081/golden-rim-resources-historical-assays-reveal-gold-mineralisation-at-depth-in-sweden-12396.html Golden Rim Resources Ltd (ASX: GMR) has uncovered diamond drill core from historical work done at the Falun Project in Sweden.

Previously in private ownership, the assays were from samples taken by the Bergslagen Joint Venture of underground diamond drill core from the past mining operation before 1992.

These have been from depths of between 200 and 400m below surface.  The new assays were taken from six archived holes and returned high grade results with gold up to 43 g/t, copper up to 2.24%, bismuth up to 2.4%, and selenium up to 0.425%.

From the results the company believes there is growing evidence of a link between the high-grade gold-copper mineralisation drilled recently by the BJV and the previous gold mining operation on the 350m level.

The company will add the new assays to their resource estimation database.

There appears potential for significant volumes of remnant gold and copper mineralisation to be outlined around the old mine, a positive for Golden Rim Resources.

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Wed, 08 Dec 2010 14:56:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155081/golden-rim-resources-historical-assays-reveal-gold-mineralisation-at-depth-in-sweden-12396.html
<![CDATA[News - Golden Rim Resources extends gold corridor at Sebba Project in West Africa ]]> http://www.proactiveinvestors.com.au/companies/news/155079/golden-rim-resources-extends-gold-corridor-at-sebba-project-in-west-africa-11906.html Copper and gold-focussed Golden Rim Resources (ASX: GMR) has received "exciting" new high grade gold rock chip sample and highly anomalous soil sample assays from its Gandi Permit at the Sebba Project in Burkina Faso, West Africa, potentially doubling the strike length of the broad gold mineralised corridor.

A total of 928 soil samples and 75 rock chip samples were obtained from the Tyena prospect within the Gandi Permit. The soil sampling at Tyena was conducted on a 200m by 50m grid and covers an area of 5.5km x 1.4km.

Several large gold-in-soil anomalies were outlined at the Tyena prospect. The most extensive of these soil anomalies lies in the northern portion of the prospect area, trends northeast-southwest, is at least 3.3km long and up to 0.9km wide, and has a peak sample result of 0.9 g/t gold.

Coincident with this soil anomaly are active artisanal workings and highly significant rock chip results with gold assays up to 25.5 g/t and 27.7 g/t gold.

The Gandi Permit lies directly east of the Yipley Permit where the company recently announced highly significant gold results at the Diogora (previously Jogada) and Sefa Eddi prospects.

These prospects lie in a major shear zone, with selected high grade rock chip results including 78.53 g/t, 74.54 g/t, 62.88 g/t and 56.12 g/t gold, along with extensive gold-in-soil anomalies up to 1km wide.

The new significant gold results at the Tyena prospect are interpreted to lie along the same major shear zone that hosts the Diogora and Sefa Eddi prospects within the Yipley permit and suggest the potential strike of the gold mineralised corridor at Sebba may extend for at least 22km.

Craig Mackay, managing director, said “the initial highly anomalous gold results from the Gandi permit are particularly exciting. They confirm a potential doubling of the strike length of the broad gold mineralised corridor at Sebba.”

“The extensive shear-hosted gold mineralisation at Sebba is the company’s highest priority exploration target at present and we have devoted considerable resources to the project to rapidly advance our exploration effort” said Mackay.

Currently the company has three drilling rigs (auger, rotary air blast and reverse circulation rigs) operating at Sebba.

The auger and rotary air blast drilling rigs are extending the near-surface geochemical sample coverage along strike from the Diogora and Seffa Eddi prospects.

The reverse circulation is testing priority target areas within the Diogora and Seffa Eddi prospects. Over 7,100 holes (for 33,000m) are currently planned at Sebba and this drilling program is progressing well.

In conjunction with the drilling, a major geological mapping, rock chip sampling and soil sampling campaign is continuing. The company has over 40 staff and contractors currently working from its Sebba camp.

Golden Rim continues to review additional opportunities in West Africa, which is the fastest growing gold producing region in the world.

The company has gold resources and licences covering over 3,800km2 in the highly prospective Birimian greenstone belts of Mali and Burkina Faso.

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Mon, 22 Nov 2010 12:43:00 +1100 http://www.proactiveinvestors.com.au/companies/news/155079/golden-rim-resources-extends-gold-corridor-at-sebba-project-in-west-africa-11906.html