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Additional Information
Market: ASX
Sector: Gold Mining
Epic: ASX:GMR
News: Latest news
Web Site: Golden Rim Resources
Other Articles: 03-03-201008-12-200923-11-2009

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Golden Rim Resources

Golden Rim Resources

Golden Rim Resources  (ASX: GMR) is an exploration and mining company with a focus on copper and gold.  The Company is active in North Africa, with gold resources and tenements (Sepola, Sanso and Farada) in the highly prospective Birimian greenstone belt in Mali. Abu Dhabi-based Royal Group is a substantial shareholder and strategic partner of Golden Rim.  Through an alliance company, Royal Falcon, the companies have secured advanced copper/gold projects (Falun and Bersbo) in Sweden and are seeking further significant investments. Golden Rim is currently pursuing an active drilling program in Mali and Sweden.

Monday, September 21, 2009

Golden Rim Resources launches Sepola gold airborne survey

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Golden Rim Resources (ASX: GMR) has started a high-resolution airborne geophysical survey at its Sepola project in western Mali in the hope of generating significant new gold exploration targets.

The Perth-based explorer's share price has been on fire in recent months, tripling to 19 cents, which has seen its market capitalisation climb almost five-fold over the past three months with its Mali licenses in the Birimian greenstone belt, providing the promise.

Gilbert Rodgers executive director of Golden Rim explained that the purpose of the airborne survey was to acquire a greater understanding of the primary geological controls of gold mineralisation in the Sepola area.

Sepola lies about 40 km south east along strike from the Sadiola and Yatela gold mines (which host combined resources of more than 15 million ounces of gold) and consists of four tenements spanning a total area of 221 sq km in the prospective Birimian greenstone belt in Mali.

Golden Rim's tenement licences have a similar geological setting as those hosting the surrounding gold deposits. Major structures traverse the licences and they cover prospective Birimian greenstones.

Golden Rim reckons the close proximity of Sepola to the Sadiola mine and several other gold mines in the region offers the potential to look into the option of toll treating ore and as a consequence, derive an early cashflow, should exploration prove successful.

Previous exploration carried out before Golden Rim took over the project culminated in the release of JORC Code-compliant inferred resources totalling 162,000 oz from ore grading an average 1.6 g/t gold from two prospects, with most of the resources composed of shallow, open pittable, oxide gold mineralisation. In general, the company noted, the resources are open along strike and at depth.

The airborne survey, which the company contracted South African firm Xcalibur Airborne Geophysics to undertake, is due to be completed in a week with preliminary results anticipated approximately 20 days later.

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