- Golden Rim Resources (GMR) has ended the week in a trading halt in regards to an upcoming capital raising
- The company will remain the halt until February 2 or when an announcement is made, whichever occurs first
- On January 27, Golden Rim executed a Letter Agreement to acquire an interest in two additional gold permits in Guinea, West Africa
- Golden Rim can purchase up to a 75 per cent interest in the Damissa Koura and Kankan West permits, however, the acquisition is subject to the execution of a joint venture agreement
- Once granted, the company’s Kada Gold Project will increase in size to 300 square kilometres
- Shares in Golden Rim last traded at 1 cent on January 28
Golden Rim Resources (GMR) has ended the week in a trading halt in regards to an upcoming capital raising.
The company will remain the halt until February 2 or when an announcement is made, whichever occurs first.
Golden Rim is yet to disclose how much it intends to raise or what the funds will be used for once received.
On January 27, Golden Rim executed a Letter Agreement to acquire an interest in two additional gold permits in Guinea, West Africa.
Golden Rim can acquire up to a 75 per cent interest in the Damissa Koura and Kankan West permits, however, the purchase is subject to the execution of a joint venture agreement and Guinean government approval.
Damissa Koura covers 98.5 square kilometres and it has been subject to reverse circulation (RC) and aircore (AC) drilling undertaken by Newmont.
All up, 81 holes were drilled with focus on testing several artisanal mining sites.
Several broad zones of deep oxide gold mineralisation was encountered with a best result of four metres at 8g/t gold from 38 metres and 16 metres at 3g/t gold from 54 metres.
The Kankan West permit covers an area of 96.1 square kilometres and no previous exploration has been undertaken.
It lies directly west of Predictive Discovery’s (PDI) Kankan permit where a gold-in-soil anomaly measuring over seven kilometres in length has been identified.
Golden Rim will be undertaking a soil auger drilling program to confirm if Predictive’s discovery extends into its own.
Once granted, the company’s Kada Gold Project will increase in size to 300 square kilometres.
Shares in Golden Rim last traded at 1 cent on January 28.