- Golden Rim Resources (GMR) announces gold assay results from its second round of resource definition drilling at the Kada gold project in Guinea
- The results received are for five reverse circulation drill holes, totalling 701 metres, with all holes encountering broad, parallel zones of gold mineralisation
- Positively for GMR, KRC025 returned the best intersection received at Kada to date with 96 metres at 3.3g/t
- Shares are trading 13 per cent higher today at 13 cents per share
West African gold explorer, Golden Rim Resources (GMR) has announced gold assay results from its second round of resource definition drilling at the Kada gold project in Guinea.
The assays are for five reverse circulation (RC) drill holes, totalling 701 metres. Broad, parallel zones of gold mineralisation were obtained in all five holes.
The company said drilling confirms the continuity of a more than 650-metre wide deep oxide gold blanket, in the centre of the gold resource area.
Results of a new shallow oxide intersection at KRC025 reportedly represent the best results received to date from Kada.
Located in the under-drilled southern portion of the Newmont gold resource area, 96 metres at 3.3 grams of gold per tonne (g/t) was recorded at the intersection. Within the 96-metre zone includes 29 metres at 8.5g/t gold from 79 metres and two metres at 18.4g/t gold from 79 metres.
The gold intersection remains open at depth and along strike.
Managing Director Craig Mackay said the company was thrilled with the results from KRC025.
“We are about to complete a fence of drill holes 80 metres south of KRC025 to test the southerly extent of this exciting gold mineralisation. The outcome of this drilling is eagerly awaited,” he said.
“Our RC drilling at Kada is progressing well and will continue through the Christmas/New Year period. Golden Rim intends to regularly report new results through this time and as we lead up to the delivery of our maiden mineral resource estimate scheduled for the end of January 2022.”
The company plans to have 42 RC holes totalling 6550 metres to infill the Newmont gold resource area by the end of January. A total of 21 RC holes have been completed to date with results for 12 having been reported. Additional results are expected in the coming weeks.
Shares are trading 13 per cent higher today at 13 cents per share just before market close.