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Additional Information

Market:	ASX
Sector:	Gold Mining
EPIC:	GMR
Latest Price:	0.19 (5.71% )
52-week High:	0.23
52-week Low:	0.10
Market Cap:	66.49M

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Golden Rim Resources

Golden Rim Resources (ASX: GMR) is focused on exploring and developing gold and copper resources in West Africa and Sweden, and is currently active on several projects.

Golden Rim Resources Aeromagnetic Survey Identifies New Gold Targets at Sepola in West Mali

Monday, November 23, 2009

Golden Rim Resources (ASX: GMR) has received the processed data for the high-resolution aeromagnetic and radiometric geophysical survey recently completed at the company’s Sepola Project in western Mali.

The survey data highlights strong structural control on the distribution of the gold mineralisation at the Mogoyafara South Prospect and has generated a number of new gold target areas in the immediate prospect area and in the surrounding region.

The magnetic data shows the areas comprising the current Inferred Resource of 3,052,000 tonnes at 1.48 g/t gold for 146,000 oz of gold (0.5 g/t cut-off) at Mogoyafara South are closely associated with a series of linear northwest-trending magnetic low anomalies which are considered to be fault-related.

The company believes these magnetic low anomalies are the result of the magnetic minerals in the host rocks having been replaced by alteration minerals (silica and pyrite) associated with the introduction of the gold mineralisation.

The survey reveals a series of northwest-trending magnetic low anomalies that are either along strike from or parallel to the current gold resource areas at Mogoyafara South Prospect.

These anomalies have either not been tested adequately by drilling or have received no drilling. These anomalies therefore provide exciting new targets for drilling and the company considers that there is a high likelihood for additional gold resources to be outlined in these areas.

Further, two new areas which offer prospects for exploration have been highlighted as a result of the survey. These areas are in the region surrounding the Mogoyafara South Prospect and also hold very similar magnetic low anomalies. One of the areas lies 2.5 km southwest of Mogoyafara South and has received little previous exploration. The other is located 1.6 km southeast of Mogoyafara South. Golden Rim has previously conducted limited reconnaissance rock chip sampling in this area and had obtained assay results of 1.76 g/t gold and 2.52 g/t gold from quartz vein float samples. No drilling has ever been completed in either area.

Golden Rim plans to extend its 3,000 m (Phase 1) reverse circulation drilling program at Mogoyafara South to 4,500 m. In addition, a larger (5,000 – 10,000 m) follow-up drilling program (Phase 2) is being contemplated.

Hole locations for the Phase 2 program will be finalised following the completion of a planned Induced Polarisation (IP) geophysical survey at Mogoyafara South and assessment of the results from the Phase 1 drilling. Phase 2 is expected to commence early in 2010.

The company is pleased to report that drilling has recommenced at Mogoyafara South and expects completion of the extended Phase 1 drilling program before the end of 2009. Earlier this year, seven holes of the Phase 1 drilling program were completed at Mogoyafara South Prospect. Due to the onset of the rainy season, drilling ceased before the Phase 1 drilling program could be completed. Significant gold intercepts were obtained in six of the seven completed holes.

The Sepola Project comprises four tenements with a total area of 221 square kilometres and lies approximately 40 kilometres southeast from the Sadiola and Yatela gold mines (>15Moz of gold).

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