Golden Rim Resources remains focused on Kada Gold Project in Guinea ahead of mineral resource estimate
- Golden Rim Resources raising A$6 million to advance Kada Gold Project drilling; resource update in Q42021
- Golden Rim returns encouraging Kada gold results with 46 metres at 1.3 g/t in oxide
- Golden Rim Resources planning second-round resource definition drilling at Kada
Quick facts: Golden Rim Resources Ltd
Price: 0.007 AUD
Market Cap: $18.69 m
About the company
Golden Rim Resources Ltd (ASX:GMR) is an exploration company with a portfolio of advanced mineral exploration projects in Burkina Faso and Guinea in West Africa along with Chile in South America.
The company has discovered the Kouri Gold Project covering 325 square kilometres of prospective Birimian greenstones in northeast Burkina Faso and has outlined an indicated and inferred mineral resource of 50 million tonnes at 1.3 g/t gold for 2 million ounces.
Golden Rim has also secured a second highly promising gold project, Kada, in eastern Guinea and is undertaking an aggressive exploration program.
How it is doing
Golden Rim Resources Ltd (ASX:GMR) has received commitments from investors to raise A$6 million via the issue of shares at 0.6 cents each to advance exploration at its flagship Kada Gold Project in Guinea.
The placement includes 500,000,000 attaching options on the basis of one new option for every two shares subscribed for under the placement.
Shareholders can exercise the unlisted options at 1.2 cents within 18 months from issue date.
Golden Rim has also proposed a share consolidation of up to 1 share for every 15 shares on issue for shareholder consideration.
Golden Rim Resources Ltd (ASX:GMR) has delivered more broad zones of oxide gold mineralisation at its Kada Gold Project in Guinea with results of up to 31 metres at 1.6 g/t gold and 20 metres at 2.4 g/t.
The company has received assays from two diamond holes and six reverse circulation (RC) holes totalling 1,100.5 metres in a resource definition program.
Golden Rim Resources Ltd (ASX:GMR) has more than tripled the Kada bedrock gold corridor at its flagship project in Guinea, West Africa, to 15 kilometres, a considerable increase from the initial 4.7 kilometres.
The expansion is a result of auger drilling across 1,782 holes totalling 18,904 square kilometres through the Newmont gold resource area.
Insight: Golden Rim returns encouraging Kada gold results with 46 metres at 1.3 g/t...
Golden Rim Resources Ltd’s (ASX:GMR) resource definition drilling has returned assay results of up to 46 metres at 1.3 g/t from 51 metres and 13 metres at 1.9 g/t from 73 metres at its Kada Gold Project in Guinea.
The diamond drilling continues to confirm multiple, broad, sub-parallel zones of gold mineralisation in the Newmont gold resource area with the company on track to deliver its maiden mineral resource estimate in the second half of 2021.
What management says
Golden Rim Resources Ltd (ASX:GMR)'s Craig Mackay tells Proactive they've delivered more broad zones of oxide gold mineralisation at its Kada gold project in Guinea with results of up to 31 metres at 1.6 g/t gold and 20 metres at 2.4 g/t. They've now received assays from two diamond holes and six reverse circulation (RC) holes totalling 1,100.5 metres in a resource definition program.
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