ASX/Media Announcement
26 April 2013
4,000m Drilling Program Commences at Korongou, Burkina Faso
Golden Rim Resources Ltd (Golden Rim; ASX: GMR) today announced that it has commenced a program of 4,000m of reverse circulation (RC) drilling to test priority target areas at the Banouassi and Namagdo prospects at the Korongou Project in Burkina Faso (Figure 1).
The drilling program will comprise approximately 26 RC drill holes with an average depth of 150m per hole.
Banouassi Prospect
A total of 23 holes are planned at the Banouassi Prospect (previously known as the BG Prospect) which is located in the NE of the Korongou Permit. More than 20 gold mineralised, parallel, NE- trending shear structures have been identified in trenches and pits within a 1km wide corridor and over a strike length of 3.5km at Banouassi.
Drilling will target a number of the gold mineralised shear structures. Previous small scale mining along these structures produced 20,000 ounces at an average head grade of 5.2 g/t gold. The grade of the gold mineralisation within these structures can be very high. The previous explorer obtained rock chip sample results up to 313 g/t gold. Artisanal miners have exploited gold from several small bonanza pits which graded in excess of 1,000 g/t gold.
Namagdo Prospect
Three holes are planned at the Namagdo Prospect (previously known as the KK Prospect) which lies in the central portion of the Korongou Permit and covers four main linear gold mineralised shear structures that have been mapped over 2km to 5km. The width of these mineralised structures ranged from 1m to 10m. Rock chip sample results up to 108 g/t gold have been obtained by the previous explorer.
Golden Rim's Managing Director, Craig Mackay, said that Korongou has been one of the most sought after gold properties in Burkina Faso.
"Extensive zones of gold mineralisation have been identified and over the past decade, the previous owner received offers from more than 20 companies to purchase the property, includ ing offers from several of the gold majors".
"We are very excited to be commencing our maiden RC drilling program at Korongou and we are confident of the projects' potential to quickly produce a gold resource in excess of one million ounces," Mr Mackay said.
-ENDS-
Golden Rim Resources Ltd I ABN 39 006 710 774 I Level 2, 10 Outram Street, West Perth WA 6005, Australia I PO Box 378, West Perth WA 6872, Australia www.goldenrim.com.au I [email protected] I T + 61 8 9481 5758 I F + 61 8 9481 5759
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For further information, please contact:
Hayley Butcher Anna Staples Golden Rim Resources AMN Corporate Company Secretary +61 400 205 433
+61 8 9481 5758 [email protected]
Figure 1. Location of prospects and gold mineralised shear structures (red lines) at the
Korongou Project.
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Photograph 1. MCB pit at the Banouassi Prospect. The previous owner exploited a 14m zone of shear-hosted oxide gold mineralisation with a head grade of 7 g/t gold. Stockwork mineralisation remains in the pit walls and the total width of mineralisation is approximately 18m.
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Photograph 2. MCA pit at the Banouassi Prospect. The previous owner exploited a 9m zone of shear-hosted oxide gold mineralisation with a head grade of 9 g/t gold.
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Photograph 3. New Bonanza Pit at the Banouassi Prospect. The previous owner recovered
US$3 million in gold from this small pit.
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Further Company Information
E: [email protected]
W:goldenrim.com.au
Capital Structure
Issued Shares: 568,006,923
Unlisted Options: 33,950,000
Major Shareholders
Royal Group, Abu Dhabi 9.59% Acorn Capital 6.56%
Rick Crabb 5.6%
Share Registry
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APPLECROSS WA 6153
AUSTRALIA
T: + 61 8 9315 2333
F: + 61 8 9315 2233
E: [email protected]
W: securitytransfer.com.au
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