AMN - BURKINA FASO: Licence renewed for Babonga

Golden Rim Resources has been granted a three-year renewal for the licence of its Babonga Gold Project in Burkina Faso.

Following the three-year period, ASX-listed Golden Rim can again renew the licence for a further three years, providing up to a total of six years of additional tenure.

Babonga is 70km northeast of Golden Rim’s primary project in Burkina Faso, the Kouri Gold Project, where the company is conducting a reverse circulation drilling program with an objective of defining a JORC resource by the end of 2017.

Golden Rim Resources believes any future mine development at Kouri could potentially involve the treatment of gold mineralisation from Babonga.

Babonga has a highly coherent gold-in-soil anomaly approximately 2.1km long and 300m wide, which was defined in the southern part of the licence. The anomaly is coincident with a major regional fault that is connected to the major fault zone that hosts gold mineralisation at Kouri.

Earlier this year, Golden Rim conducted an air core drilling program at Babonga. The drilling intersected widespread bedrock gold mineralisation and discovered a coherent zone of bedrock gold mineralisation, over an area of 1km x 200m, and comprising a series of stacked gold mineralised veins.

Peak values included 7m at 1.6 g/t gold from 28m depth, including 1m at 4.8 g/t gold; 2m at 3.1 g/t gold from 4 m depth, including 1m at 5.4 g/t gold; 6m at 1.1 g/t gold from 14m depth; and 2m at 3.0 g/t gold from 12m depth.

Many of the air core holes were stopped before the planned depth of 50m because the drilling reached blade refusal at fresh rock. The company is considering undertaking a small follow-up reverse circulation drilling program, capable of penetrating into fresh rock to fully test the significant gold mineralisation.

www.goldenrim.com.au