Golden Rim Resources Ltd (ASX:GMR) has delivered the widest oxide gold intersection to date from the Kada Gold Project in Guinea with the second round of resource definition drilling returning 62 metres at 1.3 g/t gold from surface.
The West African explorer has received first results from six reverse circulation (RC) holes that delineate multiple, broad, subparallel zones of gold mineralisation in the defined Newmont gold resource area.
With the promising results in tow, Golden Rim has opted to upgrade the RC drilling program to cover 9,000 metres, with just more than 2,000 metres completed to date.
The company remains on track to deliver a maiden mineral resource estimate (MRE) for Kada early in the new year.
Broad intervals of gold mineralisation
Speaking to the results, Golden Rim managing director Craig Mackay said the initial assays from the company’s second round of resource definition drilling were “very exciting”.
“We are consistently seeing broad intervals of gold mineralisation within the oxide and transitional zones.
“The new oxide gold result of 62 metres at 1.3 g/t gold is the widest oxide gold intersection Golden Rim has obtained at Kada so far.
“The new gold intersections have filled multiple gaps in the previous drilling and will likely add significant ounces to our maiden mineral resource estimate, due in January 2022.
“Resource definition drilling will continue for another 5,500 metres, proximal to the Newmont gold resource area, infilling large gaps in the data and extending our drilling coverage north and south, before we embark on the much-anticipated exploration drilling to test areas of anomalous bedrock gold along the 15-kilometre-long Kada gold corridor.”
These results have seen shares increase by as much as 18% to an intraday high of 10.5 cents.
The results are in
Golden Rim kicked off its second round of mineral resource definition drilling in November, focused on an area where Newmont previously outlined a non-JORC resource.
Some of the highlights from the second round of resource definition drilling at Kada include:
- 28 metres at 2.4 g/t gold from 0 metres, including 4 metres at 8.5 g/t from 9 metres;
- 45 metres at 0.9 g/t from 36 metres, including 11 metres at 2.3 g/t from 45 metres;
- 36 metres at 1.3 g/t from 0 metres, including 9 metres at 2.5 g/t from 0 metres;
- 62 metres at 1.3 g/t from 0 metres, including 8 metres at 4.7 g/t from 14 metres;
- 28 metres at 2.4 g/t from 0 metres, including 7 metres at 4.6 g/t from 5 metres; and
- 26 metres at 2.1 g/t from 80 metres.
Ultimately, the assays indicate new gold intersections are shallow and fully or partially oxidised.
There’s also extensive, additional oxide gold mineralisation located in gaps in the previous drilling.
Looking at the bigger picture, the results continue to prove up a deep, continuous oxide gold blanket in the centre of the resource area, spanning more than 650 metres wide.
What’s next?
Instead of drilling the previously planned 6,550 metres, Golden Rim now intends to cover 9,000 metres in the RC program.
Golden Rim has completed 14 RC holes, or 2,040 metres of drilling, to date and will have further results to report in the new year.
The remainder of this resource definition drilling program will include the infill drill holes required to cover roughly 900 metres by 700 metres at a sufficient drill density for the JORC-compliant maiden MRE, which is expected late next month.
Additional drilling will also explore more highly-anomalous bedrock gold areas along the 15-kilometre Kada gold corridor, outside the Newmont gold resource area.
Golden Rim believes results from early holes in exploration drilling, which are planned immediately north and south of the Newmont gold resource area, can be incorporated into the maiden MRE and have the potential to add considerable additional ounces to the resource.
In the meantime, the company continues to explore the project’s broader footprint with a second pass, 10,650-metre campaign.
Regional auger drilling continues across Kada, with two rigs in operation and assays for 536 auger holes pending.