Sign up Australia
Proactive Investors - Run By Investors For Investors

Golden Rim Resources bags $1.27M for flagship gold project in Burkina Faso

Exploration target of circa 500,000 - 611,000 ounces of gold.
A map containing Burkina Faso
Maiden resource scheduled for the end of 2017

Golden Rim Resources Ltd. (ASX:GMR) has raised $1.27 million via a rights issue to fund the drilling program at its flagship Kouri Gold Project in Burkina Faso.

The Kouri project lies on a major mineralised fault zone that extends to the northeast 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).

Kouri’s maiden resource has been scheduled for the end of 2017.

Golden Rim’s recently conducted reverse circulation drilling at Kouri returned very encouraging results.

Kouri has an existing JORC exploration target of circa 500,000 - 611,000 ounces of gold at a grade range of 1.8 g/t to 2.2 g/t gold.

With additional infill and deeper drilling, the company intends to convert the JORC exploration target to a maiden resource by the end of 2017.

Interestingly, the recent drilling results suggest the resource could be larger than the exploration target, with new intercepts such as 18 metres at 5.4 g/t gold from 2 metres.

It is worth noting that Burkina Faso is one of the fastest growing gold mining destinations in the world.

Register here to be notified of future GMR Company articles
View full GMR profile View Profile

Golden Rim Resources Timeline

February 05 2015

Related Articles

July 25 2017
Greatland Gold is paying AU$25,000 in cash plus shares for the Havieron gold project
Lydian International aiming high with Amulsar in Armenia
September 14 2017
Construction began in the fourth quarter of 2016 and the group expects to pour its first gold in the middle of 2018
September 04 2017
Hummingbird is one of the few miners in recent years that's actually been able to finance and build a significant gold mine

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use