Golden Rim Resources (GMR.AX) has started the process to update the current 1.4 million ounce gold resource on its Kouri resource estimate which currently contains 1.4 million ounces. Since this previous resource calculation (completed in Q4 2018), the company has completed approximately 27,000 meters of drilling in 211 holes and has added gold mineralization to pretty much every area of interest on this Burkinese property.
Of specific interest are the recent drill results of the Diabatou gold shoot where the extent of the mineralization (at depth) has now doubled to 160 meters. Deeper holes underneath artisanal working shave identified more high-grade gold mineralization with for instance 7 meters of 4.6 g/t gold and 2 meters at 14.4 g/t gold. These intervals are not as good as the 4 meters of 44.7 g/t old and 18 meters at 3.4 g/t gold which are both longer or higher grade intervals and closer to the surface, but in any case, the new Diabatou assay results will add tonnage and ounces to an updated resource and it will be up to the Golden Rim engineers to figure out if those zones are mineable.
Golden Rim appears to be pursuing aggressive growth as the company is also completing the acquisition of a 75% stake in the Kada gold project in Guinea.
Disclosure: The author has no position in Golden Rim Resources.
