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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:
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New Gold Target :
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~50% of a major Induced Polarisation ( IP ) and ground magnetic geophysical survey at Kouri is now complete.
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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.
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The newly discovered IP anomaly extends for 1.7km .
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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.
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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.
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Drilling Progress :
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Three drill rigs (diamond, RC and auger) are now operating at Kouri.
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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.
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Samples for holes MDH001 – 002 and MRC016 – 019 are at the laboratory. Assay results for the first diamond hole (MDH001) are expected shortly.
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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:
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MDH prefix denotes Diamond drilling in the Margou Permit. MRC prefix denotes RC drilling in the Margou Permit
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• MDH004 is in progress. The EOH depth is the planned depth.
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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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