Burkina Faso – this is part of its continued strategy to diversify its portfolio as well as leverage its exposure to the strong gold price.
While Golden Rim Resources’ primary focus remains to advance its Paguanta zinc-silver-lead project in Chile, the company sees significant potential to generate shareholder value by investing in an exploration programme designed to define a maiden JORC gold resource at the Banouassi prospect at Kouri by the end of 2017.
The company suspended exploration activities in Burkina Faso in late 2015 due to security concerns and a period of political instability, however management is now confident that these security issues have subsided and a stable, democratic government has been firmly established in the country.
The Burkina Faso government continues to actively support the mining industry and has permitted more mines in the last decade than any other West African jurisdiction.
The planned exploration programme will be rolled out in two stages, with an initial RC programme to commence within the next few weeks, before a larger in-fill and extensional RC and diamond drill programme commences in October 2017, subject to available funds and the results of the initial programme.
“With the current strength in the gold price and the recent success of our peer gold companies in Burkina Faso, Golden Rim considers recommencing activity at Kouri to be a prudent and value accretive strategy for our shareholders,” says Golden Rim Resources MD, Craig Mackay.
“We believe that, for a relatively small financial outlay, we can deliver a JORC resource at Banouassi in a short time frame, providing Golden Rim with optionality as we continue to make strong progress at Paguanta.”
Feature image credit: Golden Rim Resources