Golden Rim hits good gold in Burkina Faso
THE DRILL SERGEANT: Golden Rim Resources has struck high-grade gold intersections from the third program of reverse circulation drilling carried out on its Balogo project in Burkina Faso.
The Phase 3 program comprises 30,000 metres of drilling with 61 holes completed so far for an aggregate of 7,658m.
Golden Rim has received assays for the first 13 holes.
The company commenced its current program south west of the Balogo Hill prospect area, focussing around a newly defined structure, the Netiana Shear Zone.
Location of new gold intersections (red text) in the Netiana Shear
Zone at Balogo over an image of the ground magnetics which shows the
NE-SW-trending structure. Source: Company announcement
This drilling is following-up previous high-grade intercepts of:
– 8 metres at 5.75 grams per tonne gold; and
– 14m at 2.56 g/t gold and 5m at 32.55 g/t gold, 0.14 per cent copper.
Golden Rim said the mineralisation it has intersected appears to be associated with multiple sheared contact zones.
Gold intercepts of, what the company describe to be as, “significant grade gold intercepts”, have been obtained.
The company said it believes the mineralisation to be open to the SW and NE.
It has conducted further drilling along strike and is awaiting further assay results.
“The intercept of 57m at 23.3 g/t gold…is one of the best intercepts obtained in West Africa in recent times,” Golden Rim Resources managing director Craig Mackay said in the company’s announcement to the Australian Securities Exchange.
“We are particularly excited about the style of the mineralisation at Balogo.
“The high grades along with the association of significant magnetite with the gold and copper mineralisation are currently unusual in West Africa and we believe we may have uncovered an iron oxide copper-gold (IOCG) style deposit.”
Golden Rim is currently conducting a multi-element analyses program on a number of mineralised zones at Balogo to check if there are elements in addition to gold and copper that are anomalous.
The company said it is planning to mobilise a second rig to Balogo to commence diamond drilling on the Netiana Shear Zone.