ASARA RESOURCES LIMITED
West African gold explorer
Highlights
Regional exploration drilling, predominantly along the 15km Kada Gold Corridor, has identified significant zones of additional oxide mineralisation outside the Mineral Resource Estimate (MRE) area (930,000oz1 gold).
Assays received for six drill holes at the Bereko prospect, 9km north of the MRE, and four holes at the Bereko South prospect, 7km north of the MRE. Best gold intersections include: Oxide gold zones at Bereko and Bereko South remain open to the north and south, and at depth.
New results reinforce potential for additional gold mineralisation along Kada Gold Corridor.
57-hole (5,426m) RC exploration drilling program is now complete, with assays pending for 36 holes.
With the success of the RC drilling in locating oxide gold zones beneath auger gold anomalies, Golden Rim will shortly commence a 2,000m infill auger program at Kada, initially focussing on Bereko and Bereko South.
Golden Rim's Managing Director,
Kada Exploration Drilling
Golden Rim has completed an exploration RC drilling program comprising 57 holes for 5,426m at Kada, testing six new prospects and further drilling at the Massan prospect, which includes the MRE area. The RC drilling was focused on testing multiple highly anomalous bedrock gold targets along and outside the 15km Kada Gold Corridor identified in Golden Rim's auger drilling.
Bereko Prospect
Bereko lies within the Kada Gold Corridor, 9km north of the MRE area. RC drilling was conducted at Bereko on lines surrounding artisanal mine workings which had exposed bedrock stockwork gold mineralisation beneath shallow laterite cover. Rock chip sampling of this mineralisation returned assays up to 171.5g/t gold. Golden Rim completed 13 holes at Bereko (KRC085 - KRC095, KRC107, KRC111) for 1,164m. Assays have been received and previously reported for five holes2 (KRC085 - KRC089) for 754m. Assays for a further six holes (KRC090 - KRC095) for 496m are reported in this announcement, and assays for the remaining two holes are pending.
KRC094 and KRC095 were drilled on either side of an 830ppb gold auger anomaly. The highgrade mineralisation intercepted in KRC095 contained iron-rich vuggy quartz veins (up to 15%) +disseminated fine-grained sulphides within altered volcanic tuff. The mineralisation seen in KRC095 has a far-higher quartz-vein content than has been typically seen to date at Kada and is open at depth and along strike. It presents as an attractive target for further exploration and evaluation. KRC090 to KRC093 were drilled on section 1,234,400mN, which is north of the large area of artisanal workings. Mineralised zones typically contain up to 3% saccharoidal quartz veins show strong hematite + limonite + kaolinite alteration. The mineralisation at Bereko continues to be deeply oxidised (>80m) and is interpreted to be NNW to NNE-trending and moderately to steeply east dipping. It is very similar to the mineralisation both within Golden Rim's MRE area, 9km south, and that seen at
Bereko South Prospect
The Bereko South prospect is defined by a 2km long, continuous soil/auger gold anomaly approximately 400m wide, trending NNW-SSW along the Kada Gold Corridor. Initial auger drilling intercepted multiple high-grade bedrock gold anomalies up to 2,720ppb gold. Golden Rim's initial RC exploration drilling at Bereko South consists of four holes (KRC096 - KRC099) for 340m with all assays received.
Current Progress & Next Steps
Golden Rim has completed its 57-hole (5,426m) RC exploration drilling program, testing six prospects along the Kada Gold Corridor: Bereko, Bereko South, Sadan, Sadan South, Massan and Massan South, along with Sinin, a seventh prospect, to the east of the corridor. Assays remain pending for the final 36 holes, which include the first drilling for the Sadan, Sadan South, Massan South and Sinin prospects. Given our RC exploration drilling has successfully located gold zones beneath anomalous gold results obtained from our first pass 200m x 50m auger drilling, a 2,000m infill auger program will shortly commence at Kada. This infill drilling will be conducted at 100m x 50m spacing to refine our understanding of the trend of the gold anomalous zones before we commence our next phase of RC drilling. The first infill auger holes will be drilled at Bereko and Bereko South. Golden Rim's major IP and ground magnetics geophysical survey of Kada is ongoing and is expected to be completed by the end of May. Golden Rim will use results of the survey to plan further exploration at Kada during 2022, including planning additional drilling to follow up the highly encouraging initial drilling results delivered at Bereko and Bereko South to date.
Contact:
Tel: +61 3 8677 0829
Email: craig@goldenrim.com.au
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.
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