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Golden Rim gains on 'exceptional' results

Golden Rim Resources (ASX: GMR) has sparked interest with “exceptional, high-grade” gold intercepts from its recently-expanded Kouri gold project in Burkina Faso.
Golden Rim gains on 'exceptional' results Golden Rim gains on 'exceptional' results Golden Rim gains on 'exceptional' results Golden Rim gains on 'exceptional' results Golden Rim gains on 'exceptional' results

Visible gold from panning drill chips from the 783.8g/t interval at Golden Rim’s Kouri project in Burkina Faso

Staff reporter

The company has reported 1m at 783.8g/t gold from 44m at Diabatou, part of a broader 7m at 121.2g/t; and 1m at 22.8g/t within 4m at 9.2g/t from 44m at the Maré prospect.

"These are the best drilling results we have seen from Kouri so far," managing director Craig Mackay said.

Diabatou, within the Granite Target area, is on one of two new permits the company acquired during the June quarter, which neighbour its 1.4 million ounce resource at Kouri.

"We are particularly excited about systematically extending our exploration effort throughout the new Margou and Gouéli permit areas, both of which remain almost totally unexplored," Mackay said.

Golden Rim also last month signed an agreement giving it the right to purchase 100% of the Kotouri permit, which covers the remainder of the granite area not already owned by the company.

Assay results are pending from follow-up holes and Golden Rim is planning diamond drilling at Diabatou and Maré in mid-September after the rainy season, along with a regional auger programme.

Golden Rim had A$353,000 (US$240,000) in cash at the end of June and since raised $500,000 (US$339 million) through a share placement at 1c.

Its share price leapt about 80% intraday on Monday and touched 2.2c.

It was trading at 1.9c earlier today, up about 18% year-to-date, capitalising Golden Rim at $14.7 million (US$10 million).