PERTH (miningweekly.com) – Junior Golden Rim Resources has acquired an initial 25% interest in the Kada gold project, in Guinea, with the company issuing $2.5-million worth of shares to the vendor.
“We are very pleased to have acquired our initial interest in Kada, which is an advanced gold project with considerable exploration upside and a non Joint Ore Reserves Commission- (Jorc-) compliant resource area which we expect to rapidly convert to a Jorc mineral resource with infill drilling,” said Golden Rim MD Craig Mackay.
“It also complements our existing two-million-ounce mineral resource at our Kouri gold project, in Burkina Faso, allowing us to build a strong portfolio of exciting West African gold projects.”
Mackay noted that only 2% of the Kada project area has been subject to exploration drilling to date, with Golden Rim expected to start exploration at the project later this month.
Under the Kada joint venture agreement, Golden Rim could earn up to a 75% stake in the project area.