- Golden Rim Resources (GMR) has updated the mineral resource for its Kouri Gold Project in Burkina Faso
- An indicated and inferred mineral resource of 50 million tonnes at 1.3g/t gold for 2 million ounces of gold has been calculated
- This represents a 43 per cent increase from the previous 1.4 million ounces at 1.4g/t gold from December 2018
- Golden Rim will now restart drilling this quarter with aims to increase the proportion of the indicated resource and increase the gold grade
- Further, a scoping study is slated for completion by the end of the March quarter
- Golden Rim is up 6.25 per cent on the market with shares currently trading for 1.7 cents
Golden Rim Resources (GMR) has updated the mineral resource for its Kouri Gold Project in Burkina Faso.
An indicated and inferred mineral resource of 50 million tonnes at 1.3g/t gold for 2 million ounces has been calculated, representing a 43 per cent increase from the previous 1.4 million ounces at 1.4g/t gold from December 2018.
Roughly 14 per cent of the mineral resource is indicated while the remainder is inferred.
Additionally, the indicated mineral resource increased by 41 per cent to 310,000 ounces at 1.4g/t gold.
Three areas of mineral resource were defined from the West, Central and East Lodes, with 95 per cent coming from the Central Lode.
Golden Rim will now restart drilling this quarter with aims to increase the proportion of the indicated resource and increase the gold grade by targeting high-grade zones.
Further, a scoping study has been planned to be completed by the end of the March quarter.
This will then be followed up by a pre-feasibility study planned for the September quarter.
“The updated indicated and inferred mineral resource estimate of 2 million ounces is substantially larger than the previous mineral resource and is a major milestone for the Kouri Gold Project,” Managing Director Craig Mackay commented.
“The company now intends to proceed with infill drilling, predominantly on the Central Lodes, with the objective of converting areas of inferred mineral resource,” he said.
“A scoping study will be progressively completed by the March quarter 2021 which will provide greater technical and costing definition and assist in focussing both the exploration and infill drilling program,” he added.
Golden Rim is up 6.25 per cent on the market, with shares trading for 1.7 cents each at 11:29 am AEDT.