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Golden Rim Resources Ltd (ASX: GMR, Golden Rim) today announced that it has finalised an agreement to acquire an additional gold exploration permit in Burkina Faso, West Africa.
The agreement was finalised following structural modelling studies and regional reconnaissance work on the permit, Dabinyan III. Golden Rim now has 16 granted exploration permits in Burkina Faso covering an area of 3,479km2. The Dabinyan III permit is continuous with Golden Rim’s Balogo Project (Figure 1), which has returned high gold assay values in rock chip samples. The permit covers 109km2 of prospective terrain, incorporating a number of high priority targets with active artisanal mining sites. The total area of the Balogo Project is now 358km2. Golden Rim’s Managing Director, Mr Craig Mackay, said collection of data and initial reconnaissance of the new area had started and that the acquisition of the new Dabinyan III permit was in keeping with the Company’s regional strategy. “The new permit is a significant addition to our exploration portfolio in Burkina Faso and supports our strategy and exploration model in the Balogo region,” Mr Mackay said. The new area extends the coverage of an important splay of the Markoye Fault system which hosts a number of significant orogenic gold deposits that include: Taparko (1.7Moz), Kiaka (2.7Moz), Essakane (5.3Moz) and Bomboré (2.7Moz). The area has received no modern exploration and it is understood that artisanal mining activity only commenced this year. Mr Mackay said that the Company would continue to expand its portfolio of projects in West Africa and fast-track projects that return value. |
