ASX/Media Announcement
25 July 2013
Trenching Intersects High Grade Gold Mineralisation at Netiana North
Trenching across the new Netiana North auger gold anomaly 300m NE along strike from the Netiana Lodes has returned an exciting intercept of 12m at 5.3 g/t gold, including 1m at 60.4 g/t gold (BT27). This intercept is higher grade than any of the trench intercepts obtained by Golden Rim over the Netiana Lodes.
Trenches excavated over the high grade gold resource at the Netiana Lodes returned 31m at
1.9 g/t gold (BT13) and 10m at 0.3 g/t gold (BT03).
A trench excavated on a parallel zone of gold mineralisation, located 700m north of the Netiana Lodes, returned intercepts of 3m at 4.1 g/t gold, including 1m at 10 g/t gold, and 10m at 0.3 g/t gold (BT32).
A trench located 4.2km SW along strike from the Netiana Lodes returned 6m at 0.9 g/t gold, including 2m at 2.2 g/t gold (BT10).
The trenches confirm the occurrence of significant new zones of bedrock gold mineralisation in the vicinity of the Netiana Lodes which have the potential for satellite, open pittable gold resources.
A follow-up reverse circulation drilling program is planned.
Golden Rim Resources Ltd (Golden Rim; ASX: GMR) today announced that a program of trenching has confirm the occurrence of several new significant zones of gold mineralisation near the Netiana Lodes at the Balogo Project, Burkina Faso.
Golden Rim's Managing Director, Craig Mackay, said "The discovery of multiple new zones of gold mineralisation, directly along strike/adjacent to the Netiana Lodes, is exciting news for the Company."
"We are currently exploring for satellite, open pittable, gold resources to add to our existing gold resource on the Netiana Lodes with the objective of increasing the mine life and enhancing the economics of our planned mine development at Balogo."
"The new zones of gold mineralisation exposed in trenching are associated with quartz-hematite stockworks, which are typical of the high grade gold mineralisation in the Netiana Lodes, and as such present exciting new exploration targets for satellite gold mineralisation," Mr Mackay said.
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
28998v1
Golden Rim has outlined a high grade Inferred Resource at the Netiana Lodes of 850,000 tonnes at 6.8 g/t gold for 185,000 ounces of gold. Golden Rim has also completed a scoping study at the Netiana Lodes which indicates that the resource can support a robust, high margin, low capital cost, open pit mine development.
A total of 27 trenches (3,488m) were excavated across the Balogo Project. These trenches were channel sampled at either 1m or 2m intervals. All assays have been received and significant assays (>0.2 g/t gold) are presented in Table 1.
Netiana Lodes
Trenches BT01, BT02, BT03, BT13 and BT15 were situated above the area of the Inferred Resource (850,000 tonnes at 6.8 g/t gold for 185,000 ounces) at the Netiana Lodes and within the pit outline proposed in the March 2013 Scoping Study.
The best trench intercepts above the Netiana Lodes include:
16m at 0.7 g/t gold, including 2m at 3.8 g/t gold (BT01) (Previously reported)
10m at 0.3 g/t gold (BT03)
31m at 1.9 g/t gold (BT13)
The nature of the regolith at Balogo is such that anomalous gold results obtained in the saprolite (weathered bedrock) in trenching are generally lower in value than those from underlying mineralisation. It is considered that gold in the upper 10 -15m of the regolith profile at Balogo has been depleted by weathering.
For example, the intercept of 16m at 0.7 g/t gold in BT01 is 47m above a previous intercept of
25.9m at 10.0 g/t gold in diamond hole BDH011; and the intercept of 31m at 1.9 g/t gold in BT13 is 12m above a previous intercept of 22m at 13.6 g/t gold, including 2m at 91.5 g/t gold in reverse
circulation hole BRC223.
Netiana North
Trenches BT17, 18, 23, 27 and 31 are all located over the Netiana North auger gold anomaly, which is located 300m NE of the Netiana Lodes gold resource.
Extensive quartz-hematite-stockwork veining was exposed in a number of these new trenches, typical of the high grade gold mineralisation identified in the drilling across the Netiana Lodes.
The best trench intercepts from Netiana North include:
12m at 5.3 g/t, including 1m at 60.4 g/t from BT27; and
16m at 0.6 g/t from BT31.
The intercept of 12m at 5.3 g/t gold, including 1m at 60.4 g/t gold obtained in BT27 at Netiana North is particularly significant, as it is the best trench intercept obtained to date at Balogo and is higher grade than the gold intercepts in the trenches which are directly above the Netiana Lodes.
Page | 2 28998v1
As such, the high grade gold mineralisation exposed in BT27 is a priority target for a program of follow-up reverse circulation (RC) drilling planned at Balogo after the rainy season.
Kabola
No trenching was conducted over the new Kabola auger gold anomaly located directly south of the Netiana resource. This new anomaly is >100 ppb gold, lies under 5m of transported black soil, covers an area of 300m x 200m, and has a peak value of 1,489 ppb gold. The Kabola anomaly is larger and is higher in tenor than the anomaly over the Netiana resource. Unfortunately the black soil cover at Kabola is too thick for trenching and the anomaly will be tested in the planned RC drilling program.
New Zones of Gold Mineralisation
Trench BT32 was excavated 700m north of the Netiana Lodes in an area that had previously returned anomalous rock chip results (including 10.5 g/t gold, 5.0 g/t gold and 3.2 g/t gold). The trench returned intercepts of 3m at 4.1 g/t gold, including 1m at 10 g/t gold, and 10m at 0.3 g/t gold, suggesting there may be another NE-trending zone of gold mineralisation parallel to the zone that hosts the Netiana Lodes. Further exploration, including drilling, is planned in this area.
Trench BT10 was excavated 4.2km SW along strike from the Netiana Lodes to test an area with a single anomalous soil result of 564 ppb gold. The trench returned 6m at 0.9 g/t gold, including 2m at 2.2 g/t gold, and the mineralisation is open in all directions under the soil cover. Given the distance BT10 lies from the Netiana Lodes this trench intercept is considered very significant and may indicate potential for another satellite zone of mineralisation. Follow-up exploration is planned.
-ENDS-
For further information, please contact:
Hayley Butcher
Golden Rim Resources
Company Secretary
+61 8 9481 5758
Page | 3 28998v1
fT\
:Golden Rim
Resources
ARTSI ANAL WORKINGS, ROCKCHIP ANOMALY
l ncl ud ing:21.2g/t, 20.7g/t, 17.Gglt,
14.7g/l, 13.4g/t, 12.Sglt
664.500mE
N BT32
3m at 4.1 glt
i ncl. 1m at 10.0 g/t C:J.
10m at 0.3 g/t .. •a
BT30
• C:J.
C:J. 6
AUGERAND ROCKCHPI ANOMALY
N
O>
g:
o
3
z
NETIANA LODES
>1
---o.2 to 1
l nterpreted gold lodes
--- Trench
Auger Contours (Au ppb)
2
5
10
--- 20
- 50
- 100
Rockch ips (Au ppm)
À >10
& to 10
A 0.5 to 1
.l 0.1 to 0.5
• <0.1
Gridded Auger Geochem (Au ppb)
>500
50
20
10
5
664,000mE netres
1nn
-1
Figure 1. Location of the trenches and new zones of gold mineralisation at Balogo.
Page l 4 2899Bv1
Photograph 1. Trench (BT27) excavated by Golden Rim across the new Netiana North auger gold anomaly, 300m NE of the Netiana Lodes. There is 2m of transported soil cover (chocolate brown colour) lying over mineralisation in the weathered bedrock (pale brown-grey colour) which returned an intercept of 12m at 5.3 g/t gold, including 1m at 60.4 g/t gold.
Page | 5 28998v1
Table 1. Significant Trenching Results from Balogo (Intercepts >0.2 g/t gold)
|
Trench
ID
|
Start
Easting
(m)
|
Start
Northing
(m)
|
Bearing
(degrees)
|
Total
Length
(m)
|
From
(m)
|
To
(m)
|
Interval
|
Comment
|
|
BT01
|
663854
|
1260227
|
140
|
195.4
|
112
|
128
|
16m @ 0.7 g/t, including 2m @ 3.8 g/t
|
Previously reported. Located within the planned Netiana pit
|
|
BT01
|
|
|
|
|
134
|
138
|
4m @ 0.4 g/t
|
|
|
BT01
|
|
|
|
|
160
|
162
|
2m @ 0.4 g/t
|
|
|
BT03
|
663830
|
1260190
|
140
|
155
|
20
|
22
|
2m @ 1.2 g/t
|
Located within the
planned Netiana pit
|
|
BT03
|
|
|
|
|
94
|
96
|
2m @ 0.6 g/t
|
|
|
BT03
|
|
|
|
|
100
|
110
|
10m @ 0.3 g/t
|
|
|
BT03
|
|
|
|
|
138
|
140
|
2m @ 0.4 g/t
|
|
|
BT04
|
664160
|
1260147
|
140
|
113
|
85
|
87
|
2m @ 0.2 g/t
|
|
|
BT05
|
664532
|
1260701
|
140
|
159.3
|
40
|
42
|
2m @ 0.9 g/t
|
|
|
BT05
|
|
|
|
|
85
|
86
|
1m @ 0.4 g/t
|
|
|
BT10
|
660547
|
1257351
|
120
|
165.3
|
32
|
38
|
6m @ 0.9 g/t, including
2m @ 2.2 g/t
|
|
|
BT10
|
|
|
|
|
58
|
60
|
2m @ 0.3 g/t
|
|
|
BT12
|
664093
|
1260236
|
140
|
119
|
0
|
2
|
1m @ 1.2 g/t
|
|
|
BT12
|
|
|
|
|
116
|
118
|
2m @ 0.2 g/t
|
|
|
BT13
|
663952
|
1260197
|
140
|
114
|
48
|
79
|
31m @ 1.9 g/t
|
Located within the planned Netiana pit
|
|
BT18
|
664216
|
1260396
|
140
|
128
|
32
|
34
|
2m @ 0.4 g/t
|
|
|
BT20
|
664100
|
1260300
|
140
|
150
|
39
|
40
|
1m @ 0.7 g/t
|
|
|
BT23
|
664150
|
1260607
|
140
|
207
|
121
|
127
|
6m @ 0.3 g/t
|
|
|
BT23
|
|
|
|
|
162
|
164
|
2m @ 1.5 g/t
|
|
|
BT24
|
664636
|
1261116
|
140
|
204
|
74
|
76
|
2m @ 0.5 g/t
|
|
|
BT26
|
664596
|
1261075
|
140
|
119
|
61
|
63
|
2m @ 0.9 g/t
|
1m cavity 64 to 65m
|
|
BT26
|
|
|
|
|
65
|
66
|
1m @ 0.5 g/t
|
|
|
BT27
|
664278
|
1260530
|
140
|
100.1
|
28
|
29
|
1m @ 1.0 g/t
|
|
|
BT27
|
|
|
|
|
46
|
58
|
12m @ 5.3 g/t,
including 1m @ 60.4 g/t
|
|
|
BT27
|
|
|
|
|
84
|
85
|
1m @ 0.3 g/t
|
|
|
BT29
|
664386
|
1261092
|
140
|
45
|
24
|
25
|
1m @ 0.5 g/t
|
|
|
BT31
|
664280
|
1260423
|
140
|
62.5
|
12
|
30
|
16m @ 0.6 g/t
|
|
|
BT31
|
|
|
|
|
40
|
42
|
2m @ 0.1
|
|
|
BT32
|
663996
|
1260921
|
140
|
87.6
|
8
|
10
|
2m @ 0.9 g/t
|
|
|
BT32
|
|
|
|
|
24
|
27
|
3m @ 4.1 g/t, including
1m @ 10.0 g/t
|
|
|
BT32
|
|
|
|
|
28
|
30
|
2m @ 0.7 g/t
|
|
|
BT32
|
|
|
|
|
43
|
53
|
10m @ 0.3 g/t
|
|
|
BT32
|
|
|
|
|
63
|
67
|
4m @ 0.5 g/t
|
|
Page | 6 28998v1
The information in this public report that relates to exploration results and mineral resources is based on information compiled by Mr Craig Mackay who is a member of The Australasian Institute of Mining and Metallurgy. Mr Mackay is an employee of Golden Rim Resources Ltd. Mr Mackay has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Mackay consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Further Company Information
E: [email protected]
W:goldenrim.com.au
Capital Structure
Issued Shares: 568,006,923
Unlisted Options: 33,650,000
Major Shareholders
Royal Group, Abu Dhabi 9.59% Acorn Capital 6.56%
Rick Crabb 5.6%
Share Registry
Security Transfer Registrars Pty Ltd
770 Canning Highway
APPLECROSS WA 6153
AUSTRALIA
T: + 61 8 9315 2333
F: + 61 8 9315 2233
E: [email protected]
W: securitytransfer.com.au
Page | 7 28998v1