Golden Rim finds more gold deposits in Burkina Faso

Golden Rim Resources (ASX: GMR) has returned one of the best intercepts in modern day drilling for gold in Burkina Faso, with 57 metres at 23.3 grams per tonne (g/t) gold from 40 metres including 8 metres at 131.8g/t gold at the Balogo Project.

Assays from the first 13 holes of a Phase 3 reverse circulation drilling program at Balogo returned best intercepts of:

–57 metres at 23.3g/t gold from 40 metres, including 131.8g/t gold;

–4 metres at 25g/t gold from 19 metres; and

–10 metres at 7.5g/t gold from 14 metres.

Further assays are pending.

The high grades combined with the association of significant magnetite with the gold and copper mineralisation are unusual for West Africa, with Golden Rim indicating that it may have discovered an iron oxide copper gold (IOCG) deposit.

A total of 61 holes have been drilled so far in the Phase 3 program, for a total of 7,658 metres. The program will comprise 30,000 metres of drilling.

Drilling has focused on a newly defined structure, the Netiana Shear Zone, to follow up on previous high grade intercepts, including 8 metres at 5.75g/t gold and 14 metres at 2.56g/t gold and 0.14% copper.

Significant gold intercepts were obtained over 200 metres of strike, with mineralisation remaining open to the southwest and northeast.

Golden Rim is carrying out a multi-element analysis program on a number of minerlaised zones at Balogo, seeking elements in addition to gold and copper.

A second rig will be mobilised to Balogo to begin diamond drilling at Netiana.

Golden Rim Resources ltd is a public exploration and mining company listed on the Australian securities exchange (ASX). Golden Rim is focused on exploring and developing gold and copper resources in West Africa and Sweden. – BullionStreet

Tags: Gold, Gold mining, Gold mining companies, Gold mining industry, Golden Rim

Posted by admin on Jan 16 2012. Filed under Gold mining. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry