Golden Rim Resources moves closer to gold-copper resource drilling in Sweden

Golden Rim Resources (ASX: GMR) has reported that its Abu Dhabi registered alliance company, Royal Falcon Mining LLC, has approved the financing of the Bergslagen Joint Venture’s second work programme.

The financing is for US$2 million and is subject to the terms of the Bergslagen Joint Venture agreement.

The main elements of the second work programme are the commencement of a resource drilling programme to establish the first JORC resource for the gold-copper zone currently being drilled at Falun, located in the Bergslagen district of central Sweden.

Golden Rim’s Managing Director, Craig Mackay, said “we are very pleased that the first programme has met our goal of confirming the presence of significant remnant high grade gold and copper mineralisation at the historic Falun Mine, and we have demonstrated that this mineralisation is continuous from surface to at least the 350m level.”

“Our next work programme will enable us to commence resource drilling in the Eastern Copper-Gold Zone to establish a JORC resource and to better define the distribution of the high grade mineralisation intersected in our first phase of drilling,” said Mackay.

Mackay continued to say that “in addition, the Bergslagen Joint Venture partners will undertake the first multi-disciplinary programme to define targets for massive sulphide mineralisation in the mineralised system around the old mine."

Upon completion of the US$2 million expenditure, Royal Falcon will have acquired a 51% in the Bergslagen Joint Venture licences. Royal Falcon then has the option to earn up to 75% by spending a further US$3 million.

http://www.proactiveinvestors.com.au/companies/news/5954/golden-rim-resources-moves-closer-to-gold-copper-resource-drilling-in-sweden-5954.html