THE BOURSE WHISPERER: Golden Rim Resources has finalised an agreement to acquire an additional gold exploration permit in Burkina Faso in West Africa.
The Tanlili permit covers an area of 162.1 square kilometres and is located immediately south of Golden Rim’s Zanna permit.
The Tanlili permit is situated 14.4 kilometres south of the 1.93 million ounce Karma gold project of Riverstone Resources and 6km west of the 0.6 million ounce Sega gold project of Orezone.
Location of Tanlili permit. Source: Company announcement
Tanlili hosts the Margo artisanal mining site where gold mineralisation was discovered in 1986 and has been continuously worked since.
According to Golden Rim, Margo is one of the largest artisanal sites in Burkina Faso.
Pelle South is another artisanal site located on the Tanlili permit, which consists of two parallel zones, each approximately 300m long and 60m wide.
Each of the parallel zones at Pelle South has been drill tested with a single hole.
A reverse circulation hole testing the eastern zone intersected three zones of mineralisation, returning:
15 metres at 2.08 grams per tonne gold from 14 metres;
13m at1.63 g/t gold from 31m; and
4m at 2.15 g/t gold from 52m.
Drilling on the western zone intersected:
6m at1.1 g/t gold from 45m.
“We have sought the Tanlili permit for some time now and it’s acquisition fits in with our strategy of consolidating our ground positions in our key project areas,” Golden Rim Resources managing director Craig Mackay said in the company’s announcement to the Australian Securities Exchange.
“We are very pleased to gain access to drill the broad zone of gold mineralisation that has been exposed at the Margo artisanal site.
“Both Margo and Pelle South are attractive walk-up drilling targets for Golden Rim.
“Currently we are looking to move our RC rig to Tanlili once we have completed the current drilling program on our Balogo project.”
Golden Rim is also in the process of organising a high resolution airborne magnetic survey over the combined Zanna and Tanlili permit areas.
It anticipates the results of tehse surveys will allow its geologists to interpret the structural and lithological controls on the currently identified gold mineralisation and enable the company to plan systematic geochemical sampling programs to test additional target areas.