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ASARA RESOURCES LIMITED — Fund Information / Factsheet 2012
Dec 2, 2012
64427_rns_2012-12-02_aeb9a050-26ed-41ee-bcb1-271975d40d00.pdf
Fund Information / Factsheet
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----- Start of picture text ----- Investor Fact Sheet----- End of picture text -----
DECEMBER 2012
FOCUSSED ON BEING A BURKINA FASO PRODUCER
ASX Code
Golden Rim is an ASX-listed gold company that is aggressively exploring Burkina Faso, in West Africa, the fastest growing gold producing region in the world.
GMR
The Company recently made an exciting near-surface high grade gold discovery at its 100% owned Balogo Project in Burkina Faso (see over page).
12-Mth Share Price Range
$0.10 - $0.275
Mkt Cap (at $0.11)
Drilling results are some of the best gold intercepts from West Africa: 57m at 40.6 g/t gold, including 8m at 245 g/t gold 31m at 65.6 g/t gold, including 6m at 308 g/t gold 13m at 111 g/t gold, including 4m at 343 g/t gold
$48M
Deeper drilling is underway on the Netiana Lodes at the Balogo Project and a maiden JORC resource estimation is anticipated for the end of 2012.
Issued Capital
458M outstanding shares 34M unlisted options
Board of Directors & Management
| Rick CrabbCraig MackayGilbert RodgersGlenister LamoNadir AlhammaHayley Butcher | ChairmanManaging Director Executive DirectorntNon-Executive DirectordiNon-Executive Director Company Secretary |
|---|
Top Shareholders (31/10/12)
| PAL TechnologyHSBC CustodyJP Morgan NomRick Crabb Gro | Services LLC (Royal Group)11.87%Nominees Australia Ltd6.67%inees Australia Ltd6.58%up3.95% |
|---|
Top 20 Holding (31/10/12)
47.63%
12-Mth Share Price Performance
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While Golden Rim intends to remain a major explorer in West Africa, it believes that the additional drilling on the Netiana Lodes has the potential to establish Netiana as the Company’s first mining project.
Conceptual studies of the Netiana Lodes suggest they may support a low capex, low cost, high margin operation from a compact, high grade, open pit. The Company believes this development pathway will significantly enhance shareholder value.
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Golden Rim has a permanent office in Ouagadougou, the capital city of Burkina Faso. The Company has an experienced management team and an extensive local team of over 50 staff, including 10 highly experienced geologists. This enables Golden Rim to move quickly and efficiently in order to optimise potential opportunities and deliver value to shareholders.
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KEY FOCUS: BALOGO PROJECT
Balogo Project, Burkina Faso
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Scoping study anticipated for early 2013
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Metallurgical test work currently underway
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Maiden JORC resource is anticipated for the end of 2012
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IOCG-style gold and copper mineralisation identified over 2.3km
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Blind discovery beneath 2m of soil cover with a current strike length of 400m
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The gold mineralisation remains open along strike and at depth
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- High grade gold intercepts obtained in two parallel zones of quartz veining
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Drill section 10,025N at the Netiana Lodes.
OTHER PROJECTS
Golden Rim has a highly prospective exploration portfolio of gold prospects totalling a landholding of 4,100 km[2] in West Africa. Most of the projects lie along strike from major mineral deposits in similar geological settings. The Company is confident that its major exploration programs give it an excellent chance of making a major discovery.
Yako Project, Burkina Faso
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Extensive artisanal mining
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Multiple oxide gold-mineralised zones intercepted in drilling over 1.4km
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New targets outlined in structural study
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• Riverstone Resources’ 3.4Moz Karma Project lies in adjoining licences
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• Cluff Gold’s 0.6Moz Sega Project lies in a licence adjoining the eastern boundary
Netiana Lodes: Oxide RC Intercepts
57m at 40.6 g/t gold, including 8m at 245 g/t gold 3m at 20.3 g/t gold 31m at 65.6 g/t gold, including 6m at 308 g/t gold 22m at 13.6 g/t gold, including 2m at 91.5 g/t gold
RC drill intercepts include: 15m at 5.0 g/t gold, including 3m at 20.3 g/t gold 12m at 5.7 g/t gold 19m at 4.1 g/t gold
Netiana Lodes: Fresh Diamond Intercepts
13m at 111 g/t gold from 56m, including 4m at 343 g/t gold 25.9m at 12.3 g/t gold from 55.1m, including 1.7m at 172 g/t gold 22m at 13.6 g/t gold, including 2m at 91.5 g/t gold
Sebba Project, Burkina Faso
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Ten granted permits covering 1,928km[2]
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• Three major shear zones with over 140km of potential strike extent
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• Extensive gold-in-soil anomalies
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RAB intercepts up to 8m at 2.4 g/t gold
Porphyry and Cobra Lodes: Copper and Gold Intercepts Associated with Magnetite 11m at 2.2 g/t gold, 2.7% copper, including 3m at 5.8 g/t gold and 8.2% copper 24m at 1.4 g/t gold, 0.9% copper (end of hole)
Mali Projects
- Two gold projects
CONTACT
Golden Rim Resources Investor Relations Craig Mackay, Managing Director Anna Staples, Director Level 2, 10 Outram Street AMN Corporate West Perth WA 6005 T: +61 400 205 433 T: +61 8 94815758; F: +61 8 9481 5759 E: [email protected] E: [email protected]
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Inferred Resource of 181,000 oz at 1.5 g/t gold
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Currently being divested to allow the Company to focus on Burkina Faso
Please visit our website: www.goldenrim.com.au
Competent Person Statement
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.