Golden Rim Resources claims new Burkina Faso gold discovery
THE DRILL SERGEANT: Golden Rim Resources (ASX: GMR) has claimed discovery of a new zone of high-grade gold mineralisation (Panga Lodes) while conducting reverse circulation (RC) drilling at the company’s Balogo project in Burkina Faso.
The Panga Lodes are located 600m north of the Netiana Lodes where Golden Rim has previously defined an Inferred Resource of 850,000 tonnes at 6.8 g/t gold for 185,000 ounces of gold.
Golden Rim carried out two new drill holes (BRC270 and BRC271) at the Panga Lodes.
Hole BRC270 was drilled to follow-up previous rock chip sample results (up to 3.5 grams per tonne gold), a spot auger soil anomaly (533 ppb gold) and a line of artisanal workings.
This hole returned an intercept of:
– 14 metres at 18.8g/t gold from 34m, including 4m at 63.8g/t gold.
The second hole, BRC271, was drilled 140m of BRC270 to test previous anomalous gold trenching results and rock chip sampling and intersected:
– 5m at 0.7g/t gold from 35m and 2m at 3.8 g/t gold from 111m.
These zones of mineralisation trend NE and are parallel to the mineralisation in BRC270.
Location of the new RC holes at Balogo. Source: Company announcement
Two previous holes were drilled at Panga, one of which – Hole BRC030 was drilled south of BRC270 to test a N-S-trending line of artisanal workings while Hole BRC173 was drilled 260m NE of BRC270.
This drilling returned intercepts of:
– 2m at 4.4 g/t gold; and (BRC270)
– 1m at 13.8 g/t gold. (BRC173)
Golden Rim considers it possible the intercept from BRC173 is along strike from the intercept in BRC270.
“The intercept of 14 metres at 18.8 grams per tonne gold, including 4 metres at 63.8 grams per tonne gold at the Panga Lodes is exceptional and suggests that we may have discovered an extensive new zone of high-grade gold mineralisation at Balogo,” Golden Rim Resources managing director Craig Mackay said in the company’s announcement to the Australian Securities Exchange.
“The Panga discovery validates our recent exploration strategy at Balogo to search for satellite high-grade gold mineralisation to supplement our high-grade gold resource on the Netiana Lodes and to potentially enhance the economics of our proposed mine development.
“The tenor of the surface gold geochemistry above the Panga Lodes is subtle and there are many similar targets at Balogo that remain untested by drilling.
“We believe there is potential for further high-grade gold discoveries.”
Email:
info@goldenrim.com.au
Website
www.goldenrim.com.au