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Golden Rim starts Burkina Faso scoping study

21st January 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) - ASX-listed junior Golden Rim Resources has launched a scoping study on its gold tenements in Burkina Faso.

The company said in a statement that it was confident the high-grade Netiana deposit, at Balogo, could be developed as a compact, low-capital cost, low-cost, and high-margin openpit operation.

“Our drilling indicates the Netiana gold deposit is of significant size, near surface and of a high grade,” said Golden Rim MD Craig Mackay.

“We believe the scoping study will demonstrate the strong credentials of Netiana to provide a favourable and low-risk investment opportunity for Golden Rim. The project should clearly differentiate Golden Rim from peer companies with large, low-grade, capex-intensive gold projects elsewhere in West Africa.”

Work on the scoping study had started and would likely be completed by the end of February this year. The study would include sufficient detail to allow Golden Rim to directly proceed to a definitive feasibility study (DFS), should the results confirm the viability of the project.

The DFS could be completed within four months.

Golden Rim said on Monday that its decision to fast-track the development of the Balogo project could see first gold production being achieved towards the end of 2014, subject to permitting.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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