Golden Rim Resources (ASX: GMR) should trade higher today after rock chip sampling at its Korongou Project in Burkina Faso defined multiple new gold mineralised structures.
These structures are at the Big Veins and the Namagdo prospects which extend over a strike length of 7.5 kilometres.
Assays including 8.9 g/t gold, 8.3 g/t and 6.4 g/t were returned, which have extended the overall gold mineralised corridor at Korongou to more than 16 kilometres.
At Big Veins, gold mineralisation is exposed in multiple structures within a 1.2 kilometre wide corridor and over 4.2 kilometres of strike.
Gold is hosted in the iron-rich volcanic rock bands; it is probable that the iron in the volcanics is related to disseminated pyrite.
Two parallel gold mineralised zones are at least 10 metres wide, lie over 150 metres apart, and remain open to the south-west and north-east.
Notably, drilling has never been conducted at Big Veins, and a follow up reverse circulation program is currently planned.
Gold mineralisation at Namagdo lies along strike to the north-east of Big Veins and has been confirmed for over 3.3 kilometres of strike.
Active and inactive artisanal diggings have exposed mineralisation over most of this strike length, which is associated with quartz veining and with siliceous-carbonate-hematite-pyrite-rich sheared andesite.
Most of the Namadgo Prospect remains untested by drilling, and a significant drilling program is planned.
Golden Rim is capitalised at $7.5 million; strong drilling results are likely to move that higher.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.