gold
Feature image credit: Wikimedia

ASX-listed Golden Rim Resources has announced that completion of the acquisition of 100% of the shares in Lafi Gold.

Lafi Gold’s Burkina Faso subsidiary owns the Margou Permit and is acquiring the Goueli Permit.

Golden Rim’s MD, Craig Mackay, says:

“The completion of this deal is transformational for Golden Rim. We have now quadrupled the area of Kouri and our control over the highly gold prospective Samira Hill Shear Zone has increased from 16 km to 40 km.

"Our existing Mineral Resource looks to extend directly in the new permits so there is excellent potential to quickly expand the Resource. There’s also a good possibility for us to make new gold discoveries in the new permits, which are almost completely unexplored.

"We’ve got some exciting first prospect areas to drill and we have already started drilling on the Granite Target. We look forward to updating the market on the results as they become available.”

Highlights:

  • Kouri Gold Project area increases from 58 km2 to 245 km2
  • Control over the Samira Hill Shear Zone (SHSZ) increases from 16 km to 40 km
  • To date, Golden Rim has outlined a Mineral Resource of 1.4 Moz of gold along the SHSZ over only approximately 3.2 km or less than 10% of the strike length
  • Bulk of the SHSZ within the new Margou and Goueli permits remains unexplored
  • RC drilling has already commenced on the Granite Target area within the Margou Permit
  • As a strong vote of confidence in the project, the Pella Group agreed to take Golden Rim shares as consideration for the Lafi Transaction and have become a significant shareholder in the company