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ASARA RESOURCES LIMITED — Capital/Financing Update 2011
Aug 9, 2011
64427_rns_2011-08-09_4fd7aa11-efba-480e-81ab-cd970e779341.pdf
Capital/Financing Update
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ASX/Media Announcement
10 August 2011
New 7km Gold Anomaly Outlined in Burkina Faso
Golden Rim Resources Ltd (ASX: GMR, Golden Rim ) today announced it has received highly anomalous soil sample gold assays from its newly acquired Komondi Permit at the Sebba Project, Burkina Faso, West Africa (Figure 1).
A major gold-in-soil anomaly has been identified over a length of 7.1km and is up to 700m wide . Values up to 14.5 g/t (14,507 ppb gold) were obtained during the survey (Figure 2).
A total of 3,397 soil samples were collected over an area called the Bambeni Prospect.
The gold anomaly is coincident with a major NE-trending shear zone that is clearly outlined on Golden Rim’s recently received high-resolution aeromagnetic data. The magnetic data indicates that the shear structure extends for a further 14.9km to the southwest into Golden Rim’s adjoining Nasoulou Permit.
The identified anomaly is on the same shear structure that hosts the extensive Solna artisanal gold workings located on Predictive Discovery Limited’s (ASX: PDI, Predictive ) adjacent Bangaba Project. Solna is the largest artisanal mining community in the region with over 4,000 inhabitants. Recent RC drill results released by Predictive for the Solna area include 7m @ 12.8 g/t gold and 2m @ 55.8 g/t gold.
Golden Rim’s Managing Director, Mr Craig Mackay, said this under-explored area looked very promising from initial results.
“We have some exciting gold results in our first exploration program in the Komondi Permit directly along strike from one of the largest artisanal gold mining sites in Burkina Faso,” said Mr Mackay.
“The new gold-in-soil anomaly coincides with a major shear zone and results such as 14.5 g/t gold are very high grade for soil samples,” he said.
“Our next priority at Sebba is additional sampling along the south-western extension of the shear zone, followed by a RAB or aircore drilling program.”
Golden Rim will re-commence work at Komondi in October, soon after the wet season.
-ENDS-
For further information, please contact:
Hayley Butcher Anna (Nahajski) Staples Golden Rim Resources AMN Corporate Company Secretary +61 (0)400 205 433 +61 8 9481 5758 [email protected]
Golden Rim Resources Ltd I ABN 39 006 710 774 I Level 2, 10 Outram Street, West Perth WA 6005, Australia I PO Box 378, West Perth WA 6872, Australia www.goldenrim.com.au I [email protected] I T + 61 8 9481 5758 I F + 61 8 9481 5759
About Golden Rim Resources Limited
Golden Rim Resources Ltd (ASX: GMR) is an exploration and mining company with a focus on copper and gold. The Company is active in West Africa, with gold resources and licences covering over 4,000km[2] in the highly prospective Birimian greenstone belts of Mali and Burkina Faso.
With experienced management and extensive local teams in the Company’s permanent offices in Mali and Burkina Faso, Golden Rim is able to move quickly and efficiently in order to maximise potential opportunities.
Abu Dhabi-based Royal Group is a substantial shareholder and strategic partner of Golden Rim. Through an alliance company, Royal Falcon Mining LLC, the companies have secured advanced copper/gold projects (Falun and Bersbo) in Sweden and are seeking further significant investments.
Golden Rim is pursuing an active program of drilling in Mali, Burkina Faso and Sweden and is poised to deliver significant growth and value to shareholders.
Africa Down Under
Golden Rim Resources will be attending the Africa Down Under Conference at the Pan Pacific, Perth, WA from 31 August – 2 September.
Managing Director, Mr Craig Mackay, will deliver a company presentation on Day 1, Session 2 of the conference at 11.25am.
To arrange a one-on-one briefing or media interview during the conference, please contact Anna (Nahajski) Staples at her contact details above.
www.africadownunderconference.com
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Figure 1. Location of Golden Rim’s Sebba permits (red outlines) and >50 ppb gold soil samples on magnetics (regional magnetic data in colour and Golden Rim high resolution data in B/W). Page | 3
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Figure 2. Komondi gold-in-soil results.
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The information in this public report that relates to exploration results and mineral resources is based on information compiled by Mr Craig Mackay who is a member of The Australasian Institute of Mining and Metallurgy. Mr Mackay is an employee of Golden Rim Resources Ltd. Mr Mackay has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Mackay consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Further Company Information
E: [email protected] W:goldenrim.com.au
Capital Structure
Issued Shares: 359,396,731 Unlisted Options: 39,650,000
Major Shareholders
PAL Technology Services LLC 13.10% Rick Crabb 5.79%
Share Registry
Security Transfer Registrars Pty Ltd 770 Canning Highway APPLECROSS WA 6153 AUSTRALIA T: + 61 8 9315 2333 F: + 61 8 9315 2233 E: [email protected] W: securitytransfer.com.au
AUSTRALIA
T: + 61 8 9315 2333 F: + 61 8 9315 2233 E: [email protected] W: securitytransfer.com.au
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