teranga gold

ASX-listed Golden Rim Resources has provided results of trench sampling on the new Margou Permit at its Kouri Gold Project in Burkina Faso.

Golden Rim Resources’ MD, Craig Mackay, says:

“The trenching results from the Granite Target area are some of the best we have seen so far at Kouri. Given the numerous of gaps in the sampling due to the presence of artisanal workings, the results are even more impressive.

“We have discovered broad zones of gold mineralisation hosted in a large granite intrusion that are open in all directions.

“There had been no previous exploration of the granite intrusions in the Margou Permit and most of this area still remains completely unexplored.

“The latest results re-confirm the outstanding potential for additional gold discoveries at Kouri.

“In our 10 years in Burkina Faso we have commonly experienced a general depletion of gold values in oxide mineralisation exposed in trenching.

“As such, we consider the new results from the Granite Target area, which include values up to 8.8g/t gold, highly significant.

“Golden Rim Resources looks forward to testing the new granite-hosted gold mineralised zones as part of the major drilling program that is currently underway at Kouri.”

Three trenches (MTR01 – MTR03) for a total of 967 m were excavated across an area of extensive artisanal mining at the Granite Target area, 10 km northeast of the 1.4 Moz gold Mineral Resource at Kouri.

Multiple parallel zones of granite with quartz veining and disseminated sulphides were identified in each of the trenches.

Channel rock chip sampling across these mineralised zones was conducted at 1 m intervals.

Due to extensive artisanal workings, many mineralised intervals could not be sampled and as such there are numerous gaps in the sample results across the mineralised zones.

The best results were:

  • 4 m at 1.8 g/t Au; 5m at 1.4g/t Au; and 2 m at 2.7g/t Au (MTR001);
  • 1 m at 8.8g/t Au; 6 m at 0.7g/t Au; and 4 m at 0.9g/t Au (MTR002); and
  • 11 m at 0.8g/t Au (MTR003)

Three semi-parallel zones of granite-hosted gold mineralisation, up to 50 m wide, were identified in trenching.

These mineralised zones extend over a strike of 600 m and remain open along strike to the east and west.

There are multiple phases of granite intrusion in the Granite Target area that lie within the Samira Hill Shear Zone. The youngest of these granites is a circular 5 km diameter intrusion.

The gold mineralisation located in the artisanal workings and the trenching is hosted in an older granite intrusion and seems to be located in a possible pressure shadow area that lies west of the younger intrusion.

Golden Rim Resources is currently acquiring the Goueli and Margou permits which are immediately adjacent to the eastern boundary of the Company’s existing 1.4 Moz gold Mineral Resource at the Golden Rim Resources’ 100% owned Kouri Permit.

The mineralisation at the Kouri Permit appears to extend into the Goueli and Margou permits providing significant potential to further increase the Mineral Resource.

Golden Rim Resources has executed a Share Purchase Agreement and Golden Rim shareholders have approved the issue of shares in consideration for the Goueli and Margou permits.

With completion of the acquisition expected shortly, Golden Rim Resources has commenced reconnaissance exploration on the two permits, in addition to the drilling program currently being undertaken at Kouri.

The objective of this reconnaissance work is to outline drilling targets within Goueli and Margou for testing as soon as the acquisition is completed.