Golden Rim re-assaying records new intercepts at Netiana Lodes

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THE DRILL SERGEANT: Golden Rim Resources has re-assayed recent drilling results to record an intercept of 31 metres at 65.6 grams per tonne gold from 48 metres, including 6 metres at 308.1 grams per tonne gold.

The intercept was achieved via gravimetric re-assaying of a previously reported high-grade intercept in drillhole BRC218 undertaken at the Netiana Lodes at the company’s Balogo project in Burkina Faso.

 

Drill section 10,025N at Netiana showing gold intercepts (new
gravimetric intercepts with yellow label background) and interpreted
zones of gold mineralisation. Source: Company announcement

Previous results from BRC218 included:

–    31m at 27.8g/t gold from 48m, including 5m at 122.5 g/t gold.

Golden Rim said the results of the gravimetric assaying demonstrate standard fire assaying can underestimate gold grades in higher grade portions of the Netiana Lodes.

The company added the results reaffirm its routine practice of conducting gravimetric check assays on all standard fire assays greater than 10g/t gold.

“The intercept of 31 metres at 65.6 grams per tonne gold, including six metres at 308.1 grams per tonne gold, obtained from gravimetric re-assaying of samples from hole BRC218 is exceptional and is one of the best intercepts obtained to date from the Netiana Lodes,” Golden Rim Resources managing director Craig Mackay said in the company’s announcement to the Australian Securities Exchange.

“The gravimetric gold intercept is 136 per cent higher than the original intercept obtained by standard fire assaying.

“We are now consistently intercepting an extremely high grade blanket of gold mineralisation at around 35 to 40 metres below surface, which we believe has been enhanced by supergene enrichment at the base of oxidation.

“Our panning of drilling samples has shown the gold in this high grade blanket is predominantly free gold and we look forward to receiving the results of the gravity metallurgical test work for this zone towards the end of this year.”

Golden Rim indicated it is planning to re-commence diamond drilling in mid-September to test the depth extent of the Netiana Lodes below the current limit of drilling at around 85m below surface.

Based on the results of this drilling, the company has scheduled a maiden JORC Resource estimate for late in the fourth quarter of 2012.