Exceptional Gold Intercepts from Balogo in Burkina Faso
* Assays have been received for the first 13 holes of the Phase 3 drilling program at the Netiana Shear Zone at Balogo.
* The best new intersections include:
o 57m at 23.3 g/t gold from 40m, including 8m at 131.8 g/t gold (Hole BRC071);
o 7m at 3.0 g/t gold from 102m (Hole BRC071);
o 4m at 25.0 g/t gold from 19m (Hole BRC068);
o 10m at 7.5 g/t gold from 14m (Hole BRC073);
o 2m at 11.4 g/t gold from 1m (Hole BRC078).
Golden Rim Resources Ltd (Golden Rim, ASX: GMR) today announced high grade gold intersections from the third program of reverse circulation drilling (Phase 3 Program) on its Balogo Project in Burkina Faso.
The Phase 3 Program comprises 30,000m. Currently, a total of 61 holes have been completed for an aggregate of 7,658m. Assays for the first 13 holes have been received.
Drilling commenced in the SW of the Balogo Hill Prospect area around a newly defined structure, the Netiana Shear Zone, to follow-up on previous high grade intercepts in holes BRC025 (8m @ 5.75 g/t gold) and BRC042 (14m @ 2.56 g/t gold and 5m @ 32.55 g/t gold, 0.14% copper).
A list of all intercepts greater than 0.5 g/t gold is provided in Table 1. Intercepts were calculated using an average gold grade, 0.5 g/t gold cut-off and a maximum of 4 metres of internal waste.
The mineralisation intersected seems to be associated with multiple sheared contact zones between metasediments and granodiorite. Quartz and carbonate veining, pyrite and magnetite are associated with the gold.
Significant grade gold intercepts have been obtained over 200m of strike (on four, 50m spaced drill sections) and the mineralisation is believed to be open to the SW and NE. Drilling along strike has been completed and further assay results are pending.
The geometry of the higher grade gold mineralisation within this strike extent is still unclear and additional drilling along with trenching is planned to resolve this. It is suspected the higher grade zones of mineralisation may be associated with a series of plunging shoots.
Mr Craig Mackay, Managing Director of Golden Rim, said the broad, high grade gold mineralization
discovered under soil cover in the Netiana Shear Zone is highly significant.
“The intercept of 57m at 23.3 g/t gold obtained in Hole BRC071 is one of the best intercepts obtained in
West Africa in recent times,” he said.
“We are particularly excited about the style of the mineralisation at Balogo. The high grades along with
the association of significant magnetite with the gold and copper mineralisation are currently unusual in
West Africa and we believe we may have uncovered an iron oxide copper-gold (IOCG) style deposit”
said Mr Mackay.
A multi-element analyses program is currently being conducted on a number of mineralised zones at
Balogo to check if there are elements in addition to gold and copper that are anomalous.
Golden Rim is planning to mobilise a second rig to Balogo to commence diamond drilling on the Netiana
Shear Zone. The Company is currently in discussions with a number of contractors.
-ENDSFor
further information, please contact:
Hayley Butcher Anna Staples
Golden Rim Resources AMN Corporate
Company Secretary +61 400 205 433
+61 8 9481 5758 anna@amncorporate.com
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