In an updated mineral resource estimate (MRE), Golden Rim Resources Ltd (ASX:GMR, OTC:GMRMF) has delivered 30.3 million tonnes at 0.95 g/t gold for 923,000 ounces contained gold across the Massan and Bereko prospects at the Kada Gold Project in Guinea.
The Kada MRE exhibits attractive attributes including:
- >40% of the oxide gold is now classified as indicated;
- a shallow, central oxide core at the Massan prospect containing 319,000 ounces at 1.03 g/t (40% indicated);
- confirms previous indications for potential low-cost, free-digging, low-strip, open-pit development; and
- favourable metallurgical recoveries1 (up to 97% in oxide) suggested in test-work.
Target further oxide growth
Golden Rim managing director Tim Strong said: “The updated mineral resource estimate at Kada confirms the potential of this exciting deposit.
“A comprehensive structural study using an orientated diamond core at Massan allowed us to refine our modelling and has resulted in a significant portion of the mineral resource being classified as indicated, including over 40% of the oxide material.
“For the new MRE, we have deliberately chosen to use a higher cut-off and a more conservative pit shell to increase confidence in the potential for Kada to be a high-profit operation.
“Applying the same cut-off parameters as our maiden MRE (0.33 g/t gold cut-off for oxide/transitional material and 0.41 g/t gold for fresh material), we have added almost 200,000 ounces (20%) to the gold inventory.
“Our next steps will be to target further oxide growth at several prospective targets, including Sounkou 13 kilometres southwest of Massan, Bereko South and Sadan.
“We also have the option to add resources at Massan with a small amount of drilling around the margins, as mineralisation extends well beyond the limits of the current MRE.”