THE BOURSE WHISPERER: Golden Rim Resources (ASX:GMR) has finalised an agreement to acquire an additional gold exploration permit at the company’s Sebba project in Burkina Faso.
The new Damkoko permit covers an area of 121.5 square kilometres and is located immediately south of the Nasoulou permit.
The acquisition has taken the entire area of the Sebba project to 1,909sqkm.
Location of Damkoko permit and soil anomalies at the Sebba project on aeromagnetics. Source: Company announcement
In its announcement to the ASX, Golden Rim said a previous magnetic survey has indicated a number of major structures within the permit area, totalling approximately 23km of strike length.
The company said there has been no previous exploration work carried out on Damkoko.
Golden Rim has also received new anomalous soil sample gold assays from another part of the Sebba project.
In the southern part of the Babonga permit it has identified a coherent gold-in-soil anomaly measuring approximately 2.1km long and 300m wide.
The company said the anomaly is coincident with a major regional structure with values up to 270 parts per billion gold.
Results from an infill geochemical sampling program at Sebba consisting of 1,986 auger drill holes and 6,676 soil samples have also been received.
The sampling was completed over existing geochemical anomalies, which Golden Rim said has provided better definition of the gold-in-soil anomalies.
A program of infill sampling was carried out over the Komondi gold-in-soil anomaly within the Komondi permit.
Golden Rim said the results of this sampling, which included new assays up to 1,730ppb gold, confirmed the robust nature of the anomaly.
Within the anomaly are several higher grade areas the company will be the focussing on for drill testing.
Further infill sampling was conducted over the Tyena gold-in-soil anomaly in the Gandi permit.
Results of up to 2,480ppb gold were obtained from this program, indicating a strike length for the Tyena anomaly of 4km and 1km wide.
Golden Rim is now in the process of ranking the anomalies and generating targets for a reverse circulation drilling program that is planned to follow scheduled diamond drilling on the company’s Balogo project, also located in Burkina Faso.