(MENAFN- ProactiveInvestors - Australia) Golden Rim Resources' (ASX: GMR) share price has rallied 30% to an intra-day high of A$0.10 today prompting the ASX to issue a price and volume query.
This is compared to today's opening price of $0.077. Over the course of the trading day, 3.6 million shares changed hands.
Golden Rim responded to the ASX saying it is not aware of any material information that has not been disclosed to the market, which may explain the sudden investor interest.
Most recently, in late December, the company received the second batch of results from a drilling program at the Netiana Lodes within its Balogo Project in Burkina Faso.
New diamond hole intersections included an extremely high grade intercept of 1 metre at 123 grams per tonne (g/t) gold from within a broader intercept of 13 metres at 22g/t gold from 42 metres.
The Netiana Lodes is a near surface, high grade discovery which has previously produced impressive intercepts of 57 metres at 40.6g/t gold, including 8 metres at 245g/t gold; and 31 metres at 65.6g/t gold, including 6 metres at 308g/t gold.
The average weighted grade at Netiana is 15g/t gold uncut.
Significantly, infill diamond drilling continues to demonstrate the continuity of the very high grade, shallow, oxide gold mineralisation in the Netiana Lodes.
Multiple, stacked, high grade gold lodes continue to be intersected and these lodes remain open at depth and down plunge to the northeast.
These highly positive results demonstrate the potential for Netiana to be a low CAPEX, low cost, high margin open pit operation.
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