Emerging West African gold explorer Golden Rim Resources (ASX: GMR) has intercepted gold mineralisation in a newly-identified footwall shear adjacent to the existing resource within its wholly-owned Kouri project in Burkina Faso.
The high-grade, shallow intercepts were made during a 23-hole reverse circulation drilling program conducted in the Kouri area, over a main cross-cutting, east-west magnetic linear anomaly interpreted during an earlier structural study as a footwall shear.
The shear is believed to be the main transfer pathway which mobilises mineralising fluids into the Kouri area, and highlights “significant potential” to further extend the existing resource.
A best intercept of 4m at 44.7 grams per tonne gold from 34m, including 2m at 89.5g/t gold from 34m was located approximately 500m from the main Kouri mineral resource, within a river channel with alluvial sediment cover.
It has been recorded as the most significant gold intercept obtained at the project to date.
Other results were 3m at 8.4g/t gold from 10m, including 1m at 18.8g/t gold from 11m; and 12m at 0.7g/t gold from 32m.
The Kouri gold project contains 1.4 million ounces in defined mineral resources, with “significant upside growth potential”.
The Kouri footwall shear is believed to be associated with a magnetic high anomaly which extends at least 5km within the project licence area and continues into the neighbouring Goueli and Margou licences, owned by Lafi Gold.
Last month, Golden Rim announced it had entered into an agreement to purchase all the shares in Lafi which would allow it to explore and develop the potential of Goueli and Margou, spread over a combined 188.2 square kilometres.
The permits have a strong exploration history under previous owners, and have been subject to geological and regolith mapping, rock chip sampling, stream sediment sampling, soil and laterite sampling, pitting, trenching, and limited drilling.
Golden Rim has identified two priority areas within the permits, starting with the direct strike extension area to the north-east of Kouri, which will be the subject of a follow-up drilling campaign.
The second priority area is a further 10km to the north-east where the Samira Hill shear zone (which hosts the Kouri resource) wraps around a large granodiorite intrusion.
Golden Rim has planned an auger drilling program to explore the area which is believed to be highly-prospective for gold mineralisation.
The Lafi Gold acquisition will extend the Kouri project area to 245sq km and increase Golden Rim’s control over Samira Hill from 16km to 40km.
“The magnetic anomaly associated with the [Kouri] footwall shear offers us a highly-attractive exploration target,” said Golden Rim managing director Craig Mackay.
“The acquisition of Goueli and Margou will secure the direct strike extent of the Kouri resource and provides a further 24km of highly-prospective shear zone for us to explore for additional gold resources.”
Red Hill intercepts
Earlier this week, Golden Rim reported more good news at Kouri, when the results of drilling at the Red Hill satellite gold prospect, 4.5km south-west of the main resource, outlined further strike and depth extensions to the gold mineralisation.
The company recorded an intercept at Red Hill of 10m at 4.1g/t gold from 46m, which was obtained 40m beneath a previous intercept of 11m at 3.4g/t gold from 16m.
Other results included 2m at 2.6g/t gold from 29m; 3m at 2.1g/t gold from 36m; and 9m at 1.0g/t gold from 53m.
The new mineralisation is situated at the intersection of two major shear zones and their associated magnetic high anomalies.
It is reportedly the best quality mineralisation intercepted to date at Red Hill, being “clearly distinguishable” in drill chips and having “excellent down-dip continuity”.
“Red Hill is a promising satellite gold discovery [and] we are excited about the excellent grades and continuity in the gold mineralisation,” Mr Mackay said.
“Our next step is to systematically test the extensive magnetic anomalies associated with the mineralisation which have so far delivered positive results.”
At midday, shares in Golden Rim Resources were trading 29.41% higher at $0.022.