Golden Rim Resources has announced that a maiden Mineral Resource estimate for its 100% owned Kouri gold project in Burkina Faso has been completed by RPM Advisory Services.
West Africa - RPM estimates an Indicated and Inferred Mineral Resource of 20.8 million tonnes at 1.5 g/t gold for one million ounces of contained gold at a 0.5 g/t gold lower cut-off grade.
The contained gold in the Mineral Resource is around double the size of the previous Exploration Target.
Approximately 15.3% of the Mineral Resource is classified as Indicated and the remainder is classified as Inferred.
RPM provided the Mineral Resource estimate based on the results of 271 reverse circulation (RC) holes and 12 diamond holes drilled by Golden Rim Resources between April 2013 and March 2018 over a strike length of 3.2 km.
The Mineral Resource has been reported above an elevation of 180 m for which the material is considered to have reasonable prospects for economic extraction.
RPM is of the opinion that there are reasonable expectations that additional drilling will eventually define extensions to the lodes that will allow extraction of all mineralisation to this depth by open cut methods.
Further drilling and a pit optimisation study are required before the gold mineralisation deeper than 90 m can potentially be added to the Mineral Resource.
At this stage the mineralisation is likely to extend from surface to beyond approximately 130 m below surface on average, which is the deepest extent of the current drilling.
While a detailed schedule and option analysis has not been completed to confirm the optimal mining method, given the steeply dipping continuous style of mineralisation within sheet-like shears and it’s occurrence near surface within the currently defined resource areas, open pit mining is likely to be appropriate, pending the option analysis.
Additional mining design and more detailed and accurate cost estimate mining studies and test work are required to confirm viability of extraction.
“The release of the maiden Mineral Resource for Kouri is a major milestone for Golden Rim Resources," comments Golden Rim Resources MD Craig Mackay.
"We have now advanced our grassroots gold discovery to a significant Mineral Resource of 1 million ounces, which has exceeded our expectation and is approximately double the Exploration Target.
“The sizable, and potentially open pittable, Mineral Resource and the excellent results of our initial metallurgical test work on the gold mineralisation which achieved gold recoveries in excess of 95.5% across all material types have provided the project with a solid foundation on which to move forward.
“The next step at Kouri gold project is to continue our drilling to further extend the Mineral Resource.
"The Mineral Resource has only been estimated to approximately 90 m below surface and it remains open at depth.
"In addition, we have just discovered a new high grade gold lode (intercepts including 6 m at 25.2 g/t gold) which sits outside the maiden Mineral Resource and this lode will be the focus for our drill holes in the next few weeks.
“We now plan to continue our drilling over the next 12 months to test additional targets in the immediate Mineral Resource area and then the highly prospective shear zone that extends 12.5 km to the southwest," he continues.
Exploration upside in immediate Mineral Resource area
Kouri is traversed for 16 km by a major regional shear zone that seems to be exceptionally endowed with gold mineralisation.
Every hole drilled in the current drilling program in the Mineral Resource area in the northeast portion of the shear zone has intersected gold mineralisation.
Golden Rim Resources believes there is considerable exploration upside in the immediate area of the Mineral Resource.
Currently the Mineral Resource extends to approximately 90 m below surface and most of the gold lodes that have been incorporated in the Mineral Resource remain open at depth (below the ~130 m depth extent of the current drilling) and along strike.
In addition, there is evidence supporting the potential to discover new gold lodes.
A new high grade gold lode was recently discovered 100 m southeast of the most eastern Guitorga Lode in an area where no previous RC drilling had been conducted and where previous auger drilling returned results up to 2,017 ppb and 1,593 ppb gold under shallow soil cover.
The drilling beneath the auger gold anomaly intersected strong mineralisation with visible gold that has not as yet been incorporated into the Mineral Resource.
New drill intercepts include 6 m at 25.2 g/t gold from 8 m including 1 m at 114 g/t gold in BARC279 and 3 m at 9.3 g/t gold from 53 m in BARC278 .
The new high grade lode is associated with a 1.2 km long Induced Polarisation (IP) chargeability anomaly and is open at depth and along strike.
There are a number of similar auger gold anomalies at Kouri, some of which are also associated with IP anomalies that are yet to be followed-up.
Another priority target lies 500 m southeast of the Guitorga Lodes and comprises a 1.3 km long IP anomaly with highly anomalous auger drilling results including 7,001 ppb, 1,588 ppb and 983 ppb gold.