Golden Rim identifies extensive additional oxide gold target areas at Bereko

Highlights

• Golden Rim has received all assays from infill auger drilling at the Bereko Prospect (218 holes for 1,990m), 7km north of the 930,000oz[1] gold Inferred Mineral Resource at the Massan Prospect.
• Infill auger drilling returned results up to 960ppb gold, confirming several parallel, north-south-trending, bedrock gold anomalies at Bereko with a cumulative strike length of more than 5km.
• Auger gold anomalies extend from areas where Golden Rim’s recent initial program of Reverse Circulation (RC) drilling discovered high-grade and/or broad zones of oxide gold mineralisation, with intersections including 11m @ 6.3g/t gold,10m @ 5.6g/t gold, and 27m @ 1.2g/t gold[2].
• Auger gold anomalies provide exceptional target areas for Golden Rim to delineate strike extensions to this highly significant oxide gold mineralisation.
• Golden Rim has extended its Induced Polarisation (IP)/ground magnetics geophysical survey, and results are now expected in late August before plans will be finalised for follow-up RC drilling at Bereko.

Golden Rim’s Managing Director, Craig Mackay, said:

“Systematic auger drilling to identify areas with anomalous bedrock gold beneath the shallow laterite cover has been hugely successful at Kada.  At Bereko, we have hit significant bedrock oxide gold in almost every RC hole targeting the auger anomalies. Initial RC drilling results strongly suggest the area could deliver satellite oxide gold resources we can add to our existing gold inventory.

“The initial auger drilling coverage at Bereko was broadly spaced to allow for a large under-explored area to be covered quickly. Now, with the completion of the infill auger drilling we have considerably improved our understanding of the extent and trend of the auger gold anomalies and we are better placed to target the next round of RC drilling to locate more oxide gold mineralisation.

“The extent of the gold anomalies at Bereko, with a cumulative strike length of 5.5km, is highly significant given the current 930,000oz Mineral Resource, 7km to the south, extends over 1km.”

Auger Drilling at Bereko Prospect

Golden Rim’s exploration to date at the Bereko Prospect has discovered multiple parallel zones of oxide gold mineralisation along the broad 15km Kada Gold Corridor, 7km north of the 930,000oz Inferred Mineral Resource at the Massan Prospect (Figures 1 & 2). The Kada Gold Corridor lies along the Siguiri Mine trend which extends another 26km north of Bereko to AngloGold Ashanti’s +10Moz gold Siguiri Mine.

Golden Rim recently completed a 218-hole (1,990m) auger drilling program at Bereko, with holes drilled on 100m x 50m pattern to infill Golden Rim’s first pass 200m x 50m spaced auger drilling. The auger holes are vertical in orientation with an average depth of 9m. Drilling was designed to penetrate the shallow laterite cover to obtain a bottom of hole sample in each hole of the weathered bedrock (saprolite) beneath for gold analysis.

Hole locations are depicted on Figure 1. Golden Rim has received assays for all holes with results reported in this announcement.

Results from the infill auger drilling are highly encouraging with the delineation of several parallel, north-south-trending bedrock gold anomalies (Western and Eastern anomalies) with a cumulative strike length of more than 5.5km (Figure 1). These extensive and coherent gold anomalies extend from areas where Golden Rim’s recent initial RC drilling discovered high-grade and/or broad zones of oxide gold mineralisation, with intersections that include 11m @ 6.3g/t gold, 10m @ 5.6g/t gold and 27m @ 1.2g/t gold. This oxide gold mineralisation remains open to the north and south, and at depth. These newly defined auger gold anomalies provide exceptional target areas for Golden Rim to identify further strike extensions to this highly significant oxide gold mineralisation.

The main bedrock gold auger anomalies at Bereko are described below:

• Western Anomaly

The Western Anomaly is the most coherent at Bereko and extends for 2.3km (Figure 1). Peak auger gold results include 960ppb gold, 830ppb gold and 720ppb gold. Towards the south, the Western Anomaly seems to coalesce with the Eastern Anomaly.

Very limited RC drilling has been conducted along the Western Anomaly. In the northern portion of the anomaly, Golden Rim achieved a highly significant oxide gold intersection of 11m @ 6.3g/t gold from 43m, including 2m @ 30.6g/t gold in KRC095. This is the best drill gold intercept obtained at Bereko to date. There is then no RC drilling along the Western Anomaly for 2km until hole KRC097, which returned 14m @ 1.2g/t gold from 55m in the southern portion of the anomaly.

To the west of the Western Anomaly, auger drilling has also outlined a smaller, parallel anomaly that extends for 800m. The infill auger drilling returned multiple results >100ppb gold. This anomaly has no RC drilling to date and will be a target for further investigation.

• Eastern Anomaly

The Eastern Anomaly is not as continuous and seems to comprise three zones (Northern, Central and Southern) which are possibly separated by faulting (Figure 1).

In the Northern Zone, there is a highly coherent and strong anomaly extending for 1.2km which delivered a peak auger gold result of 580ppb gold. The anomaly encompasses an area of artisanal mining on stockwork veins in bedrock beneath the shallow laterite cover which have returned rock chip samples results up to 171.3g/t gold. Golden Rim has concentrated RC drilling to date around the artisanal mining area, which returned encouraging oxide gold intersections including 10m @ 5.6g/t gold from 5m in KRC092 and 13m @ 1.8g/t gold from 21m in KRC098. The most coherent portion of the anomaly extends 900m south of the artisanal mining area and has not yet been tested by RC drilling. New auger results up to 380ppb gold were obtained from this southern extension to the gold anomaly.

The Central Zone extends for 600m and has a peak auger result of 700ppb gold. No RC drilling has been conducted within this zone to date.

The Southern Zone is the broadest area of bedrock gold anomalism outlined by the auger drilling at Bereko. It extends for 1.2km and has a peak auger gold result of 2,720ppb gold.  To date, Golden Rim has drilled two RC holes within this area and each one has intersected significant oxide mineralisation, including 27m @ 1.2g/t gold from 27m in KRC099 and 13m @ 1.8g/t gold from 21m in KRC098 (Figure 2). This oxide mineralisation remains open along strike and at depth. Infill auger drilling both north and south of this RC drilling returned highly anomalous new gold results (up to 960ppb and 390ppb gold). These areas are to be tested in the next RC drilling program for extensions to the oxide gold mineralisation.  

Current Progress & Next Steps

Golden Rim has extended its IP and ground magnetics geophysical survey at Bereko and Massan, with three dipole-dipole IP lines (total of 3.6-line km) now planned for Massan (Figure 3). The survey is expected to be completed in approximately one month.

Golden Rim will use results of its RC and auger drilling programs as well as the geophysical survey to guide further exploration at Kada during 2022, including planning further drilling to follow up the highly encouraging initial drilling results received from Bereko and around the Mineral Resource area at Massan. 

^[1] ASX Announcement: Kada Maiden Mineral Resource 930koz Gold dated 3 March 2022

^[2] ASX Announcement: Golden Rim hits shallow high-grade oxide gold at Bereko dated 19 May 2022

Competent Persons Statements

The information in this report relating to previous exploration results and Mineral Resources are extracted from the announcements: Golden Rim Hits 43m at 1.2gt Gold Outside Kada Mineral Resource dated 21 June 2022; Golden Rim Commences Infill Auger Drilling at Bereko Gold Prospects dated 25 May 2022; Golden Rim hits shallow high-grade oxide gold at Bereko dated 19 May 2022; Golden Rim’s Drilling Outside Kada Mineral Resource Area Delivers More Oxide Gold dated 11 May 2022; Kada Maiden Mineral Resource 930Koz Gold dated 3 March 2022; Golden Rim Discovers More Oxide Gold in Exploration Drilling at Kada dated 1 March 2022; Golden Rim hits 171.5g/t gold in sampling at Kada with multiple new targets identified dated 22 February 2022; Golden Rim Discovers Exciting New Zone of Oxide Gold at Kada – 66m at 1.0g/t Gold dated 17 February 2022; Golden Rim Expands Kada Bedrock Gold Corridor to 15km dated 30 July 2021; Major Bedrock Gold Corridor Extends to 4.7km at Kada dated 20 May 2021; Major 3.5km Bedrock Gold Corridor Confirmed at Kada dated 19 April 2021. These reports 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.

The information in this report that relates to exploration results is based on information compiled by Craig Mackay, a Competent Person, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Mackay is a full-time employee of the Company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 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.

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.