Golden Rim Resources (ASX: GMR) has used gravimetric re-assaying of a previously reported high-grade intercept to identify the bonanza; 31m at 65.6 grams per tonne (g/t) gold hit (which equates to 2.1 ounces per tonne gold) from 48 metres.
Included in the intersection is the spectacular; 6 metres at 308.1g/t gold, which is just under 10 ounces per tonne gold.
The results of the gravimetric assaying confirm that standard fire assaying can significantly underestimate the gold grades in the higher grade portions of the Netiana Lodes. The gravimetric gold intercept is 136% higher than the original.
Gravimetric re-assays were completed by the ALS Chemex Laboratory in Johannesburg using a 50 gram charge fire assay with a gravimetric finish on the sample pulps used in the initial analysis method. The gravimetric finish method has a reported accuracy range of 0.05 to 1,000 g/t gold.
Another major outcome from the gravimetric assays is that they suggest the presence of an extremely high grade, flat-lying zone of supergene gold mineralisation, around 35 metres to 40 metres below the surface at Netiana, in additional to the steep dipping gold lodes.
Golden Rim has outlined an exploration plan for the second half of 2012, which has the potential to deliver a maiden JORC Resource before the end of the year.
The company will re-commence diamond drilling in mid-September to test the depth extent of the Netiana Lodes below the current limit of drilling at around 85 million below surface.
Additional work at the project in coming months includes metallurgical test work such as bottle roll cyanidation and gravity recoveries.
Golden Rim in West Africa
Golden Rim has a portfolio of projects in West Africa with a combined 4100 square kilometre license holding in Burkina Faso and Mali - covering six key gold and copper-gold projects.
Enterprise value
With a market cap. of $50 million and $2 million in cash (zero debt), Golden Rim has an enterprise value of $48 million.
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