- Gold explorer Golden Rim Resources (GMR) continues to outline broad oxide gold at its Kada Gold project in Guinea
- The company has received new assay results from three infill diamond holes, which show gold mineralisation in all three holes
- Golden Rim has paused its resource definition drilling for a short period while it waits for a number of outstanding assays
- Drilling is expected to recommence in September
- On the market, Golden Rim is up 12.5 per cent, trading at 0.9 cents per share at 1:06 pm AEST
Golden Rim Resources (GMR) continues to outline broad oxide gold at its Kada Gold project in Guinea, in west Africa.
Golden Rim is currently completing resource definition drilling for a maiden gold resource at Kada, which continues to confirm gold mineralisation.
The company has received new assay results from three infill diamond holes, which show gold mineralisation in all three holes.
Results include eight metres at 2.1 grams of gold per tonne (g/t) gold from 24 metres, 17 metres at 1.6g/t gold from zero metres and 19 metres at 1.6g/t gold from 19 metres.
Currently, Golden Rim has completed eight diamond drill holes for 1789 metres and 18 reverse circulation drill holes.
However, the company has paused its resource definition drilling for a short period while it waits for a number of assays. Drilling is expected to recommence in September.
Managing Director Craig Mackay said the drilling was successfully filling in large gaps in the previous Newmont drilling at Kada.
“The gold mineralisation is showing strong continuity and we are outlining an exceptionally broad (around 500m wide) zone of deep oxide – transition gold mineralisation in the area where Newmont previously calculated a non-JORC gold resource,” Mr Mackay said.
“We eagerly await more drilling assays from which we expect to gain a better understanding of the extent of this exciting gold mineralisation.”
On the market, Golden Rim was up 12.5 per cent, trading at 0.9 cents per share at at 1:06 pm AEST.