Golden Rim Resources Ltd has shut down with news of upcoming capital raising

The company’s shares will remain in suspension from trading until Wednesday, September 15 or when an announcement is released to the market.

Golden Rim Resources Ltd (ASX: GMR) has been granted a trading halt by ASX as it prepares to make a capital increase announcement.

The stop will remain in place until the start of regular trading on Wednesday, September 15, or until an announcement is posted to the marketplace, whichever comes first.

Gold mineralization at Kada

The company recently delivered larger zones of oxidized gold mineralization on its Kada gold project in Guinea with results of up to 31 meters at 1.6 g / t gold and 20 meters at 2.4 g / t.

The assays come from two diamond holes and six reverse circulation (RC) holes totaling 1,100.5 meters as part of a resource definition program.

Encouraging results have been received in the Newmont gold resource area and, promisingly, drilling continues to delineate large areas of additional oxide mineralization within and outside this resource area.

” Fill gaps “

Golden Rim General Manager Craig Mackay said: “Our first round of resource definition drilling at Kada filled many gaps in the previous Newmont drilling and discovered additional gold oxide mineralization.

“We have delineated a thick, flat layer of soft oxidized gold mineralization that is now 800 meters long by 700 meters wide. “

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