West African gold explorer, Golden Rim Resources Ltd (ASX: GMR) (Golden Rim, Company), is pleased to announce it has executed a binding Heads of Agreement to acquire up to a 75% interest in the Kada Gold Project (Kada) in Guinea.
The Heads of Agreement includes an Exclusivity Period which will allow Golden Rim to undertake due diligence on Kada. The acquisition is subject to various conditions including completion of due diligence, execution of definitive documentation and approval of Golden Rim shareholders to issue consideration shares to the vendor.
Commenting on the proposed acquisition, Golden Rim's Managing Director, Craig Mackay, said: 'Kada provides an exciting new opportunity for Golden Rim in one of the most under-explored countries in West Africa. Broad and open zones of gold mineralisation have already been identified at Kada and, with substantial historical drilling, we are aiming for a maiden JORC Mineral Resource in the near-term.
Golden Rim's Chairman, Adonis Pouroulis, has operated in Guinea for 14 years and as Chairman of Alufer Mining Limited has successfully developed the 6Mtpa Bel Air bauxite operation. With Adonis's in-country expertise and strong government and industry network, we expect to be able to advance Kada rapidly
Importantly, the acquisition of Kada further diversifies the Company's asset base and provides a second advanced gold project to progress alongside our 1.4Moz Kouri project in Burkina Faso.'
Near-Term JORC Mineral Resource Potential
The Kada Gold Project is comprised of a single exploration permit, the Kada Permit, that covers an area of 100km2 and is located in the central Siguiri Basin. It lies 36km along strike from and to the south of the 10Moz Siguiri Gold Mine operated by AngloGold Ashanti.
Extensive drilling has previously been conducted by Newmont making Kada an advanced gold project with the potential to calculate a maiden JORC Mineral Resource in the near-term. Newmont's drilling programs were for a total of 33,857m in 297 holes and included 18 diamond holes, 84 reverse circulation holes and 195 air core holes.
Contact:
Craig Mackay
Tel: +61 3 9836 4146
Email: craig@goldenrim.com.au
About Golden Rim Resources
West African gold explorer, Golden Rim Resources Limited (ASX: GMR), is focused on the discovery and development of gold projects in West Africa. With a decade of experience working in Burkina Faso, the Company is well placed to turn discoveries into real value for shareholders. The Kouri Gold Project, located in north-east Burkina Faso, contains over 1.4Moz in defined Mineral Resources, with significant upside potential to grow. Kouri is traversed by a significant NE-trending fault splay that is connected to the major Markoye Fault system. This fault system controls a number of major gold deposits in Burkina Faso, including Kiaka (5.9 Moz gold), Bombore (5.2 Moz gold), Essakane (7 Moz gold) and Sanbrado (2.8 Moz gold). The mineralised fault system extends into western Niger where the 2.5 Moz Samira Hill is located.
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.
ASARA RESOURCES LIMITED 
