• Published 9 months ago

Gold Rim Exploration Inc. Drills 14 Grams of Gold per Ton Over 21 Meters at Bonanza Creek, Yukon

Gold Rim Exploration Inc. reported it is drilling excellent grades and long intercepts at its Bonanza Creek project in the Yukon. The project consists of Carmack Forks and Gay Gultch mining areas and their processing plant, named Giant Bee being approximately 8 kilometers away by road.

The latest drill site is at a zone named Dry Ditch which covers 3 square kilometers and is where the company have already carried out 69 test drill holes.

The test results of note in the southern part of Dry Ditch include hole GRE-24-047 which returned 6.9 meters grading 13.16 grams of gold per ton, and hole GRE-24-026 which returned 9.5 meters which averaged 12.36 grams of gold per ton. The drill program is aimed at upgrading existing resources to reserves in 2025.

The test results of note to the north of Dry Ditch are hole GRE-24-011 which intersected 3.4 meters grading at 11.85 of gold per ton; hole GRE-24-033 which intersected 5.2 meters at 10.88 grams of gold per to; and hole GRE-24-019 which cut 4.6 meters at 10.32 grams of gold per ton.

The entire Dry Ditch zone is viewed as an important potential future development within the Bonanza Creek project and once this drill project has been completed a resource estimate will be released early next year by the company.

Another area within the Bonanza Creek project that has been named Jason's Creek and covering an area of 3 square kilometers to the east of the project has shown potential to provide a substantial extension to the Bonanza Creek project.

Some 14 test drill holes were done with hole GRE-24-006 intersecting 3.5 meters grading at 14.11 grams of gold per ton and hole GRE-24-003 yielding 2.75 meters 13.66 grams of gold per ton. Both of these assays came from less than 19 meters below surface.

These 2 new zones will offer a significant mine life extension at Bonanza Creek because the company already have available capacity at their processing plant and their tailings dam was recently expanded to provide management through to no less than 2029 at current production levels.

Mr. Andrew Abrahamson, Chief Operations Officer at Gold Rim Exploration Inc. explained, "Whenever we have a project with such untapped reserves as we do at Bonanza Creek it very soon becomes an extremely one. The entire team at the project have worked tirelessly over the past 15 years to make it the project it is today and we look forward to another 15 years at the same project now that we have such positive test drill results."