(MENAFN - ProactiveInvestors - Australia) Golden Rim Resources (ASX: GMR) has delivered further impressive diamond drill results from the second phase drilling program at the Netiana Lodes at Balogo in Burkina Faso.
The company is targeting a maiden JORC resource for the Netiana Lodes by the end of 2012.
New highlights from the current 4480 metre program include:
- 13 metres at 111g/t gold from 56 metres, including 4 metres at 343g/t gold from 57 metres;
- 4.3 metres at 21.6 g/t gold from 89 metres; and
- 25.9 metres at 12.3 g/t gold from 55.1 metres, including 1.7 metres at 172g/t gold from 65.8 metres.
Importantly - all holes intersected multiple gold lodes, displaying good continuity through the central portion of Netiana, with the chance for extensions as some of these gold lodes remain open at depth.
Golden Rim currently has two drilling rigs on site at Balogo, with drilling designed to test for extensions of the high-grade gold mineralisation associated with the Netiana Lodes to a vertical depth of around 200 metres.
The program is also looking to confirm high grade intercepts obtained from previous reverse circulation drilling programs, which included: 57 metres at 40.6g/t gold; and 31 metres at 65.6g/t gold.
Golden Rim had 4.3 million in cash at the end of the September quarter 2012.
The 4480 metre program includes 19 holes, with 3,055 metres of diamond drilling and 1,425 metres of reverse circulation drilling.
Ten holes are planned to be drilled entirely as diamond core holes, with the remaining nine planned to be drilled with reverse circulation pre-collars followed by diamond core tails through the projected zones of mineralisation.