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ASARA RESOURCES LIMITED Capital/Financing Update 2019

Nov 10, 2019

64427_rns_2019-11-10_dd0f53f4-878f-4ff8-b968-1cfbed4301e6.pdf

Capital/Financing Update

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ASX/Media Announcement

11 November 2019

Second Extensive High Grade Gold Target Identified at Kouri

Highlights:

  • New Gold Target :

  • ~50% of a major Induced Polarisation ( IP ) and ground magnetic geophysical survey at Kouri is now complete.

  • The IP survey has detected a second significant chargeability-high anomaly associated with high grade gold mineralisation in the Margou Permit at the Diabatou South East Prospect.

  • The newly discovered IP anomaly extends for 1.7km .

  • Rock chip samples up to 21.2g/t gold, 21.1g/t gold, 9.2g/t gold and 5.2g/t gold have been obtained from outcropping quartz veins along the anomaly.

  • The coincident IP anomaly and zone of gold-bearing quartz veins offer a further exciting new target and immediate follow-up RC drilling is planned.

  • Drilling Progress :

  • Three drill rigs (diamond, RC and auger) are now operating at Kouri.

  • To date, 3 diamond holes (MDH001 – 003) for 399m and 4 RC holes (MRC016 – 019) for 490m have been completed at the Diabatou Prospect to follow-up previous bonanza grade gold drilling intersections.

  • Samples for holes MDH001 – 002 and MRC016 – 019 are at the laboratory. Assay results for the first diamond hole (MDH001) are expected shortly.

  • The auger drilling is progressing well with a total of 372 holes for 2,178m completed to date.

West African gold explorer, Golden Rim Resources Ltd (ASX: GMR) ( Golden Rim , Company ), is pleased to provide the following update on the major exploration campaign at the Company’s Kouri Gold Project ( Kouri ) in Burkina Faso.

New Geophysical and Geochemical Results

The extensive ground magnetic and gradient-array IP geophysical survey currently being conducted at Kouri continues to progress quickly.

To date, 225 line km of the planned 500 line km survey (with 100m spaced lines) have been completed.

Golden Rim Resources Ltd I ABN 39 006 710 774 I Level 2, 609 Canterbury Road, Surrey HillsVIC3127, Australia I PO Box 124, Surrey Hills VIC 3127, Australia www.goldenrim.com.au I [email protected] I T + 61 3 9836 4146

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A second significant chargeability-high IP anomaly associated with high grade gold mineralisation has been obtained at the Diabatou South East Prospect (Figures 1 & 2). The Diabatou South East Prospect lies 2.5km south east of the Diabatou Prospect where an initial significant IP chargeability-high anomaly associated with high grade gold obtained in previous drilling was discovered (7m at 121.2g/t gold, including 1m at 783.8g/t gold in hole MRC008) (ASX Announcement 1 November 2019).

The newly discovered IP anomaly extends for 1.7km and trends ENE which cross-cuts the general NE orientation of the mineralisation in the region (Figure 2).

A program of mapping and rock chip sampling is being conducted in the Margou and Goueli permits. A total of 347 rock chip samples have been collected to date (Figure 1).

High grade rock chip sample results including 21.2g/t gold, 21.1g/t gold, 9.2g/t gold and 5.2g/t gold have been obtained from outcropping quartz veins hosted in volcanics along the IP anomaly at the Diabatou South East Prospect (Figure 1, Photographs 1 & 2).

Given the bonanza results of the previous drilling of the initial IP anomaly at the Diabatou Prospect, the coincident IP anomaly and zone of gold-bearing quartz veins at the Diabatou South East Prospect offer an exciting new target for follow up drilling which is planned to commence shortly,

At the Diabatou Prospect, rock chip sample results up to 14.7g/t gold, 6.3g/t gold, and 5.5g/t gold were obtained from granite-hosted mineralisation in artisanal workings located 110m south of the initial IP chargeability-high anomaly (Figure 3). Rock chip sampling over most of the IP anomaly area was not possible as it is covered by laterite up to 5m in thickness. The new high grade rock chip sample results lie immediately south of the laterite cover.

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Figure 1. Location of exploration permits, prospect areas and recent rock chip sample locations at Kouri on a greyscale airborne magnetic image.

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Figure 2. The newly discovered IP chargeability-high anomaly at the Diabatou South East Prospect with rockchip sample locations (Inset Map B).

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Figure 3. The IP chargeability-high anomaly at the Diabatou Prospect with drill hole and rock chip sample locations (Inset map A).

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Drilling Update

The Company’s current 9,200m RC, 4,000m diamond and 15,000m auger drilling program at Kouri is progressing well. Presently three drilling rigs (diamond, RC and auger) are in operation.

To date, 3 diamond holes (MDH001 – 003) for 399m have been completed at the Diabatou Prospect to confirm and test for extensions to the high grade gold mineralisation intersected in previous RC drill holes MRC008 (7m at 121.2g/t gold from 41m, including 1m at 783.8g/t gold from 44m, and 3m at 7.2g/t gold from 56m) and MRC014 (4m at 23.3g/t gold from 67m, including 1m at 65.7g/t gold) (Figure 3).

Diamond drill hole MDH004 is currently underway at the Diabatou Prospect for a planned depth of 200m. It is located 50m northeast of MRC008 and MRC014 and is designed to test an interpreted northeast extension to the high grade gold mineralisation.

A total of 4 RC holes (MRC016 – 019) for 490m have been completed to date at the Diabatou Prospect (Figure 3). These holes were designed to test the southern end of the initial IP chargeability-high anomaly (MRC017 – 019) and the mineralisation exposed in artisanal workings to the south of the laterite (MRC016). MRC016 was completed prior to receiving the high grade gold results from rock chip samples taken from the mineralisation in the artisanal workings.

Details on the diamond and RC drill holes are provided in Table 1.

The auger drilling program is also progressing well. A total of 372 holes for 2,178m have been completed to date.

Samples for holes MDH001 – 002 and MRC016 – 019 are at the laboratory and assays for the first diamond hole (MDH001) and the first batch of auger samples are expected shortly.

Table 1. New diamond and RC drill hole collar details

Hole ID Easting (m) Northing (m) RL
(m)
Zone Dip
(o)
Azimuth
(o)
EOH
(m)
Prospect Assaying
Status
MDH001 187,300 1,412,527 300 31N -55 180 80 Diabatou Pending
MDH002 187,300 1,412,550 300 31N -60 180 165 Diabatou Pending
MDH003 187,240 1,412,527 300 31N -55 150 150 Diabatou Pending
MDH004 187,323 1,412,580 300 31N -55 150 200 Diabatou Pending
MRC016 186,544 1,411,809 300 31N -55 330 130 Diabatou Pending
MRC017 186,569 1,412,064 300 31N -55 150 120 Diabatou Pending
MRC018 186,594 1,412,020 300 31N -55 150 120 Diabatou Pending
MRC019 186,619 1,411,977 300 31N -55 150 120 Diabatou Pending

Notes:

  • MDH prefix denotes Diamond drilling in the Margou Permit. MRC prefix denotes RC drilling in the Margou Permit

  • • MDH004 is in progress. The EOH depth is the planned depth.

  • Co-ordinate projection: UTM, WGS 84 zone 31 North.

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Photographs 1 & 2. Outcropping gold-bearing quartz veins at the Diabatou South East Prospect. Assays up to 21.2g/t gold, 21.1g/t gold, 9.2g/t gold and 5.2g/t gold where obtained from the veins.

-ENDS-

For further information, visit www.goldenrim.com.au or please contact:

Golden Rim Resources

Craig Mackay Managing Director Golden Rim Resources +61 3 9836 4146 [email protected]

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Competent Persons Statements

The information in this report relating to previous exploration results and the Mineral Resource at Kouri are extracted from the announcements: 1.6km Geophysical Anomaly Associated with High Grade Gold at Kouri dated 1 November 2019; Major Exploration Campaign Accelerates at Kouri dated 15 October 2019; Drilling Further Extends Gold Mineralisation Beyond Existing 1.4Moz Mineral Resource at Kouri dated 2 September 2019; Second High-Grade Zone Discovered in Granite at Kouri dated 28 August 2019; 784g/t Gold Bonanza Intercept at Kouri dated 5 August 2019; 1.4 Million Oz of Gold in Upgraded Kouri Mineral Resource dated 3 December 2018; and has been reported in accordance with the 2012 edition of the JORC Code. These announcements are available on the Company’s website (www.goldenrim.com.au). The Company confirms that it is not aware of any new information or data that materially affects the information included in these announcements and, in the case of the Mineral Resource estimate, that all material assumptions and technical parameters underpinning estimate continue to apply and have not materially changed.

Forward Looking Statements

Certain statements in this document are or maybe “forward-looking statements” and represent Golden Rim’s intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Golden Rim, and which may cause Golden Rim’s actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this document is a promise or representation as to the future. Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material. Golden Rim does not make any representation or warranty as to the accuracy of such statements or assumptions.

About Golden Rim Resources

West African gold explorer, Golden Rim Resources Limited (ASX: GMR), is focused on the discovery and development of gold projects in West Africa.

With a decade of experience working in Burkina Faso, the Company is well placed to turn discoveries into real value for shareholders.

The Kouri Gold Project, located in north-east Burkina Faso, contains over 1.4Moz in defined Mineral Resources, with significant upside potential to grow.

Kouri is traversed by a significant NE-trending fault splay that is connected to the major Markoye Fault system. This fault system controls a number of major gold deposits in Burkina Faso, including Kiaka (5.9 Moz gold), Bomboré (5.2 Moz gold), Essakane (7 Moz gold) and Sanbrado (2.8 Moz gold). The mineralised fault system extends into western Niger where the 2.5 Moz Samira Hill is located.

For more information: www.goldenrim.com.au

ASX Code: GMR Market Capitalisation: A$19m

Issued Shares: 1,163m

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Appendix 1: JORC Code (2012 Edition), Assessment and Reporting Criteria

Section 1: Sampling Techniques and Data

Criteria JORC Code Explanation Explanation
Sampling
Techniques
Nature and quality of sampling (e.g. cut channels,
random chips, or specific specialised industry
standard measurement tools appropriate to the
minerals under investigation, such as down hole
gamma sondes, or handheld XRF instruments,
etc.). These examples should not be taken as
limiting the broad meaning of sampling.
The sampling described in this report refers to diamond
(DD), reverse circulation (RC) drilling and rockchip sampling.
The diamond drilling was sampled using a geological
lithology and/or mineralisation boundary bracketing system
whereby samples are no less than 0.5m and no more than
2.0m.
The diamond drill core was cut in half with a core saw on
site. Half of the core was sampled (right side), retaining the
other half on site.
RC samples are collected by a three-tier riffle splitter using
downhole sampling hammers with nominal 127 to 140mm
holes.
Samples were all collected by qualified geologists or under
geological supervision.
The samples are judged to be representative of the rock
being drilled.
The nature and quality of sampling is carried out under
QAQC procedures as per industry standards.
Rock chip samples are random (grab) samples taken of
quartz vein material in surface outcrop or in shallow artisanal
mine workings carried out as part of a geological mapping
exercise in areas of geological interest. Sample size is
nominally 2 to 3 kilograms.
Include reference to measures taken to ensure
sample representivity and the appropriate
calibration of any measurement tools or systems
used.
Sampling is guided by Golden Rim’s protocols and Quality
Control procedures as per industry standards.
To ensure representative sampling, 1m RC samples are
collected from a cyclone, passing them through a 3-tier riffle
splitter (producing a 2kg sample). Duplicate samples are
taken every 30thsample.
Measures were taken to avoid wet RC drilling.
Aspects of the determination of mineralisation
that are Material to the Public Report.
Samples were submitted to BIGS Laboratory in
Ouagadougou for preparation and analysis.
The entire sample is dried, coarse crushed and pulverised to
better than 85% of the material passing through a 75-micron
(Tyler 200 mesh) screen.
The assay technique used was Fire Assay. A 200g sub-
sample is taken from the samples for analysis. A 50g charge
weight is fused with litharge-based flux, cupelled and the prill
dissolved in aqua regia and gold tenor is determined by
AAS.
Drilling
Techniques
Drill type (e.g. core, reverse circulation, open-
hole hammer, rotary air blast, auger, Bangka,
sonic, etc.) and details (e.g. core diameter, triple
or standard tube, depth of diamond tails, face-
The Drill rig used by Capital Drilling was a truck mounted
EDM 2000 Multi-purpose rig.
HQ core was used for the diamond hole (63.5mm in
diameter).

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Criteria JORC Code Explanation Explanation
sampling bit or other type, whether core is
oriented and if so, by what method, etc.).
All drill holes were planned to be drilled an optimum angle for
intersecting the mineralisation (50 to 60 degrees).
Downhole surveying occurred (where-ever possible) at 30m
intervals down hole.
The location of each hole was recorded by hand held GPS
with positional accuracy of approximately +/-5m.
Drill sample
recovery
Method of recording and assessing core and chip
sample recoveries and results assessed.
The diamond drill core was collected in aluminium boxes;
labelled with the name of the drill hole, box number and
from-to meterage. Drill core strings are identified at the start
and end of each string with wooden blocks.
All RC samples are weighed to determine recoveries.
Samples are recovered directly from the rig (via the cyclone
and a 3-tier riffle splitter) in 1m intervals.
Measures taken to maximise sample recovery
and ensure representative nature of the samples.
All drill samples are visually checked for recovery, moisture
and contamination.
A technician is always present at the rig to monitor and
record recovery. Recoveries are recorded in the database.
There are no significant sample recovery problems.
The RC rig has an auxiliary compressor and boosters to help
maintain dry samples. When wet samples are encountered,
the RC drilling is discontinued.
Whether a relationship exists between sample
recovery and grade and whether sample bias
may have occurred due to preferential loss/gain
of fine/coarse material.
No relationship is seen to exist between sample recovery
and grade.
No sample bias is due to preferential loss/gain of any
fine/coarse material due to the acceptable sample recoveries
obtained by both drilling methods.
Logging Whether core and chip samples have been
geologically and geotechnically logged to a level
of detail to support appropriate Mineral Resource
estimation, mining studies and metallurgical
studies.
Logging of drill samples recorded lithology, mineralogy,
mineralisation, weathering, alteration, colour and other
features of the samples.
Structural measurements are taken from DD core when
orientated core is available.
The geological logging was done using a standardised
logging system. This information and the sampling details
were transferred into Golden Rim’s drilling database.
All drilling has been logged to a standard that is appropriate
for the category of Resource which is being reported.
Each rockchip sample was briefly described by the geologist
when it was collected.
Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc)
photography.
Logging is both qualitative and quantitative, depending on
the field being logged.
The total length and percentage of the relevant
intersections logged.
100% of each relevant intersection is logged in detail.
Sub-sampling
techniques
If core, whether cut or sawn and whether quarter,
half or all core taken.
For diamond drilling, the standard sample interval was
between 0.5-2m lengths of half core. When duplicate

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Criteria JORC Code Explanation Explanation
and sample
preparation
samples were taken quarter core samples were taken. The
sampling interval may be broken at changes in geology or
mineral zone, so the length of the sample interval can vary.
A technician cut the core in half along the axis using a
diamond cutting saw, at intervals defined by the geologist
during logging.
Half of the core is stored in the tray for backup purposes,
while the other half is collected in a plastic bag for chemical
analysis. The bag includes two tickets (one that is loose
inside sample bag and one which is stapled to interior of
bag) which identify the sample number. The sample
numbers are also written on both sides on the exterior of the
sample bag.
The geologist leaves one ticket in the core tray at the
beginning of each sample interval and stores a duplicate of
the ticket with the same number, hole-id, from, to, etc.
Samples were then put into sealed sacks and stored
securelyon site atproject.
If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
RC samples were collected on the rig using a three-tier riffle
splitter. The majority of the samples were dry.
On the rare occasion that wet samples were encountered,
they were dried prior to splitting with a riffle splitter.
The standard RC sample interval was 1m.
For all sample types, the nature, quality and
appropriateness of the sample preparation
technique.
Samples were transported by road to BIGS Laboratory in
Ouagadougou.
The sample preparation for all samples follows industry best
practice.
At the laboratory, the entire sample is dried, coarse crushed
and pulverised to better than 85% of the material passing
through a 75-micron (Tyler 200 mesh) screen.
Quality control procedures adopted for all sub-
sampling stages to maximise representivity of
samples.
Golden Rim has protocols that cover the sample preparation
at the laboratories and the collection and assessment of data
to ensure that accurate steps are used in producing
representative samples.
The crusher and pulveriser are flushed with barren material
at the start of every batch.
Measures taken to ensure that the sampling is
representative of the in-situ material collected,
including for instance results for field
duplicate/second-half sampling.
Sampling is carried out in accordance with Golden Rim’s
protocols as per industry best practice.
Field QC procedures involve the use of certified reference
material as assay standards, blanks and duplicates for the
auger samples.
Field duplicates were taken on 1m RC splits using a riffle
splitter.
Whether sample sizes are appropriate to the
grain size of the material being sampled.
The sample sizes are considered appropriate to correctly
represent the style of mineralisation, the thickness and
consistency of the intersections.

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Criteria JORC Code Explanation Explanation
Quality of
assay data and
laboratory
tests
The nature, quality and appropriateness of the
assaying and laboratory procedures used and
whether the technique is considered partial or
total.
The assay techniques used was Fire Assay. A 200g sub-
sample is taken from the RC samples for analysis. A 50g
charge weight is fused with litharge-based flux, cupelled and
the prill dissolved in aqua regia and gold tenor is determined
by AAS.
The analytical method is considered appropriate for this
mineralisation style and is of industry standard.
The quality of the assaying and laboratory procedures are
considered to be appropriate for this deposit type.
For geophysical tools, spectrometers, handheld
XRF instruments, etc., the parameters used in
determining the analysis including instrument
make and model, reading times, calibrations
factors applied and their derivation, etc.
No geophysical tools were used to determine any element
concentrations.
Nature of quality control procedures adopted (e.g.
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of
accuracy (i.e. lack of bias) and precision have
been established.
Sample preparation checks for fineness were carried out by
the laboratory as part of their internal procedures to ensure
the grind size of 90% passing 75 microns.
Internal laboratory QAQC checks are reported by the
laboratory.
Review of the internal laboratory QAQC suggests the
laboratory is performing within acceptable limits.
For RC samples, Golden Rim inserts one blank, one
standard and one duplicate for every 30 samples.
Verification of
sampling and
assaying
The verification of significant intersections by
either independent or alternative company
personnel.
Reported results are compiled and verified by the
Company’s Senior Geologist and the Managing Director.
The use of twinned holes. None of the drill holes in this report are twinned.
Documentation of primary data, data entry
procedures, data verification, data storage
(physical and electronic) protocols.
Primary field data is collected by Golden Rim geologists on
standardised logging sheets. This data is compiled and
digitally captured.
The compiled digital data is verified and validated by the
Company’s database geologist.
Discuss any adjustment to assay data. The primary data is kept on file. There were no adjustments
to the assay data.
Location of
data points
Accuracy and quality of surveys used to locate
drill holes (collar and down-hole surveys),
trenches, mine workings and other locations used
in Mineral Resource estimation.
Drill Collar locations were recorded by hand held GPS with a
positional accuracy of approximately +/- 5 metres.
Down-hole surveys were completed at the end of every drill
hole (where possible) using a Reflex down-hole survey tool.
Measurements were taken at approximately every 50
meters.
At the completion of the program all holes will be surveyed
with a DGPS, which has locational accuracy of +/- 0.1m, X,
Y and Z.

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Criteria JORC Code Explanation Explanation
Specification of the grid system used. Location data was collected in either UTM grid WGS84, zone
31 North or UTM grid WGS84, zone 30 North
Quality and adequacy of topographic control. Topographic control was established by using a survey base
station.
Data spacing
and
distribution
Data spacing for reporting of Exploration Results. Drilling is conducted has been conducted along lines, with
holes spaced at 25 to 50m along that line.
Rockchip samples are composed of 10 to 20 randomly
selected fragments. This sampling may not be unbiased.
Whether the data spacing and distribution is
sufficient to establish the degree of geological
and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation
procedure(s) and classifications applied.
Drill collar spacing and distribution are sufficient for
exploration drilling.
Whether sample compositing has been applied. There was no sample composting.
Orientation of
data in relation
to geological
structure
Whether the orientation of sampling achieves
unbiased sampling of possible structures and the
extent to which this is known, considering the
deposit type.
All drill holes reported here were drilled approximately at
right angles (150 or 180 degrees) to the strike of the target
mineralisation.
If the relationship between the drilling orientation
and the orientation of key mineralised structures
is considered to have introduced a sampling bias,
this should be assessed and reported if material.
No orientation-based sampling bias has been identified in
the data at this point.
Sample
security
The measures taken to ensure sample security. Samples are stored on site prior to road transport by
Company personnel to the laboratory in Ouagadougou,
Burkina Faso.
Audits or
reviews
The results of any audits or reviews of sampling
techniques and data.
There has been no external audit or review of the
Company’s techniques or data.

Section 2: Reporting of Exploration Results

Criteria JORC Code explanation Explanation
Mineral
tenement and
land tenure
status
Type, reference name/number, location and
ownership including agreements or material
issues with third parties such as joint ventures,
partnerships, overriding royalties, native title
interests, historical sites, wilderness or national
park and environmental settings.
The reported drilling results are from the Kouri, Gouéli and
Margou permits.
Golden Rim owns 100% of the permits.
The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.
Tenure is in good standing.
Exploration
done by other
parties
Acknowledgment and appraisal of exploration by
other parties.
The area that is presently covered by the Kouri Project has
undergone some previous mineral exploration.

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Criteria JORC Code explanation Explanation
Geology Deposit type, geological setting and style of
mineralisation.
The Kouri Project covers part of a highly prospective Lower
Proterozoic Birimian, Samira Hill Greenstone belt and is
traversed by a significant NE-trending fault splay which is
connected to the major Markoye Fault system. This fault
system controls several major gold deposits in Burkina
Faso, including Kiaka (5.9 Moz), Bomboré (5.2 Moz) and
Essakan (7 Moz).
The mineralisation lies in a package of highly altered
volcanic and volcaniclastic host rocks and is associated with
a major gold-in-soil anomaly and a prominent dilational
structural jog along a regional NE-trending shear zone.
Drill hole
Information
A summary of all information material to the
understanding of the exploration results including
a tabulation of the following information for all
Material drill holes:

easting and northing of the drill hole collar
elevation or RL (Reduced Level – elevation
above sea level in metres) of the drill hole
collar

dip and azimuth of the hole

down hole length and interception depth

hole length.
The body of the report contains tables summarising the DD
and RC location data (Hole ID, Easting, Northing, Dip,
Azimuth and total Depth) and a list of significant (gold ≥
0.5g/t for the regional targets and gold ≥ 0.3g/t for the
Mineral Resource) intercepts.
Appropriate locality maps for some of the holes also
accompanies this announcement.
Further information referring to the drill hole results can be
found on Golden Rim’s website
http://www.goldenrim.com.au/site/News-and-Reports/ASX-
Announcements
If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent
Person should clearly explain why this is the
case.
Data
aggregation
methods
In reporting Exploration Results, weighting
averaging techniques, maximum and/or minimum
grade truncations (eg cutting of high grades) and
cut-off grades are usually Material and should be
stated.
DD samples were taken at intervals ranging from 0.5m to
2.0m. They were based on observed geological and/or
mineralisation boundaries
For the 0.5 g/t Au cut-off calculations, up to 3m (down hole)
of internal waste, unless the total intercept grade falls below
0.5 g/t gold (Regional Targets).
For the 0.3 g/t Au cut-off calculations, up to 3m (down hole)
of internal waste, unless the total intercept grade falls below
0.3 g/t gold (Mineral Resource).
No weighting or high-grade cutting techniques have been
applied to the data reported.
Assay results are quoted rounded to 1 decimal place.
Where aggregate intercepts incorporate short
lengths of high grade results and longer lengths of
low grade results, the procedure used for such
aggregation should be stated and some typical
examples of such aggregations should be shown
in detail.
Not applicable in this document as no exploration results
are announced.

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Criteria JORC Code explanation Explanation
The assumptions used for any reporting of metal
equivalent values should be clearly stated.
Metal equivalent values are not reported in this
announcement.
Relationship
between
mineralisation
widths and
intercept
lengths
These relationships are particularly important in
the reporting of Exploration Results.
The reported drilling results are from exploration drilling,
designed to test possible extensions to the known Mineral
Resource.
If the geometry of the mineralisation with respect
to the drill hole angle is known, its nature should
be reported.
The orientation of the mineralised zone has been
established and the RC drilling was planned in such a way
as to intersect mineralisation in a perpendicular manner.
If it is not known and only the down hole lengths
are reported, there should be a clear statement to
this effect (e.g. ‘down hole length, true width not
known’).
Not applicable in this document
Diagrams Appropriate maps and sections (with scales) and
tabulations of intercepts should be included for
any significant discovery being reported These
should include, but not be limited to a plan view of
drill hole collar locations and appropriate sectional
views.
Maps are provided in the main text.
Balanced
reporting
Where comprehensive reporting of all Exploration
Results is not practicable, representative
reporting of both low and high grades and/or
widths should be practiced to avoid misleading
reporting of Exploration Results.
The accompanying document is considered to represent a
balanced report.
Other
substantive
exploration
data
Other exploration data, if meaningful and material,
should be reported including (but not limited to):
geological observations; geophysical survey
results; geochemical survey results; bulk samples
– size and method of treatment; metallurgical test
results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or
contaminating substances.
There is no other exploration data which is considered
material to the results reported in the announcement.
Further work The nature and scale of planned further work (eg
tests for lateral extensions or depth extensions or
large-scale step-out drilling).
Promising results will be followed up (where practicable)
with trenching and further RC or DD drilling.
Exploration and infill drilling will continue to target projected
lateral and depth extensions of the mineralisation and to
increase the confidence in the Mineral Resource.
Diagrams clearly highlighting the areas of
possible extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
Refer to main body of this report.

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