Company
ASX:GMR
Asara Resources Ltd is an exploration company with a portfolio of advanced minerals projects in Guinea and Burkina Faso, West Africa and in Chile, South America.
148 stories · page 4 of 8
With drilling programs running in parallel at Kada and Kouri through the year, it has been a busy and productive 12 months for Golden Rim.
Kada lies within the highly prospective Birimian greenstones of West Africa which host more than 60 gold deposits in excess of 1 million ounces of gold.
The company’s shares will remain in a trading halt until Wednesday, September 15, or when an announcement is released to the market.
The company completed nine diamond holes for 1,917 metres and 18 RC holes for 2,252 metres in its first round of resource definition drilling at Kada and has received all assays which will be incorporated in a maiden mineral resource.
The West African gold explorer said drilling continues to outline extensive areas of additional oxide gold mineralisation within large gaps in the previous Newmont drilling.
Golden Rim plans to commence follow-up RC drilling in September to delineate additional oxide gold mineralisation along the bedrock corridor outside the Newmont gold resource area.
The company’s drilling is outlining extensive areas of additional oxide gold mineralisation within large gaps in the previous Newmont drilling.
The company is on track to deliver its maiden mineral resource estimate in the second half of 2021 as drilling continues to confirm multiple, broad, sub-parallel zones of gold mineralisation at the Newmont gold resource area.
The company has drilled three diamond holes, covering 560.5 metres, at the Kada gold asset as part of a resource definition program to establish a maiden gold resource.
The company has completed three diamond drill holes totalling 330 metres targeting extensions to areas of high-grade gold mineralisation obtained from previous drilling operations in the Central Lodes area.
Auger drilling suggests this bedrock gold corridor extends for at least 4.7 kilometres as the company awaits a further 1,782 auger assays.
Diabatou mineralisation is within the East Lodes inferred resource comprising 48,000 ounces at 3.2 g/t gold and is 7 kilometres from the Central Lodes, which comprise the bulk of the global Kouri resource of 2 million ounces at 1.3 g/t.
The company has obtained encouraging anomalous molybdenum results in additional rock chip samples from Loreto porphyry copper target area and plans to conduct a short diamond drilling program.
Infill diamond drilling is underway in the Newmont gold resource area at Kada, where Golden Rim is working to deliver a maiden JORC Mineral Resource in 2HCY21.
The joint venture agreement is prepared and will be signed upon receiving Guinean government approval.
Golden Rim is completing a 30,000 metre auger drilling program at Kada, increased from 15,000 metres, designed to delineate mineralised zones outside the area where Newmont calculated a non-JORC gold resource in 2012.
The company will focus preparing access agreements for the under-explored Loreto target at the Paguanta Project, with exploration expected to begin in May.
Three power auger rigs are operating at Kada, with 1,262 holes for 13,821 metres completed and results for a total of 558 holes received to date.
The company also has three power auger rigs operating at Kada and a 15,000-metre auger drill program designed to delineate mineralised zones outside the Newmont gold resource area is progressing well with 12,552 metres completed.
Drilling will test for depth extensions to the gold shoot beneath the current mineral resource pit shell as well as infill drilling targeting the upper portions of the gold shoot.
