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Golden Rim Resources Ltd.
Summary
| Project: | Kouri | |
|---|---|---|
| Deposit: | Kouri | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 12/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-12-2018: Golden Rim Resources Ltd. announces a Resource Estimation report for its Kouri deposit at the Kouri project. Updated mineral resource estimate at the project. Emerging West African gold developer, Golden Rim Resources Ltd (ASX: GMR) (Golden Rim | |
| Resources: | (Resource, I+I): 32.0Mt @ 1.4g/ Au for 1.40Moz Au contained | |
| CP/QP: | [Resources]: Robert Dennis (RPM Global Pty Ltd.) | |
| ABSTRACT: | Emerging West African gold developer, Golden Rim Resources Ltd (ASX: GMR) (Golden Rim or Company) is pleased to announce a highly encouraging Mineral Resource upgrade for its 100% owned Kouri Gold Project (Kouri) in Burkina Faso, which has been completed by independent consultants, RPM Advisory Services Pty Ltd (RPM). RPM estimates an Indicated and Inferred Mineral Resource of 32 million tonnes at 1.4g/t gold for 1.4 million ounces of contained gold at a 0.3g/t gold lower cut-off grade (Figure 1). The contained gold in the upgraded Mineral Resource is around 40% greater than the contained gold in the maiden Mineral Resource. Approximately 14% of the upgraded Mineral Resource is classified as Indicated and the remainder is classified as Inferred. A lower cut-off grade of 0.3g/t gold was selected by RPM for the upgraded Mineral Resource, based on a heap leach processing route, compared to a lower cut-off grade of 0.5g/t gold that was used for the maiden Mineral Resource based on a tank leach processing route. At a 0.3g/t lower cut-off grade the continuity and the width of the gold lodes comprising the Mineral Resource are improved. This has positive ramifications in regard to mining dilution and the strip ratio and provides a Mineral Resource that may be more conducive to a larger scale, bulk mining development. Commenting on the results, Golden Rim’s Managing Director, Craig Mackay, said: “The new Mineral Resource estimate of 1.4 million ounces is substantially larger than the maiden Mineral Resource and is a major step forward for the Kouri project.” “An additional 400,000oz of shallow gold mineralisation was added to the Mineral Resource from a further 42 drill holes.” “We believe there is significant potential for considerably more ounces at Kouri. The Mineral Resource remains open at depth and along strike and we still have large gaps in the immediate Mineral Resource area that are yet to be drilled. Our auger drilling has outlined extensive areas of bedrock anomalous gold at Guitorga West, Guitorga North and Kom which provide excellent targets for follow-up drilling and which we plan to test in the current RC drilling program.” | |
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