• Published 8 days ago

Gold Rim Exploration Inc. to Spend US$1.95 Million on Test Drilling Program at Cotogchoa Project, Ecuador

Gold Rim Exploration Inc. plans to spend US$1.95 million on a new test drilling through that will see them through to the end of quarter 3, 2025 at its Cotogchoa Project in Quito province, Ecuador.

Mr. Andrew Abrahamson, Chief Operations Officer at Gold Rim Exploration Inc. explained, "We are well-versed in knowing that organic growth is achieved from test drilling programs and they form a large part of our success story to date, and at most projects the test drilling has shown that we have only scratched the surface in realizing their importance to our profitability."

According to Mr. Abrahamson, Gold Rim Exploration Inc. were initially looking to carry out a test drill program of half this size but their ground sonar results identified considerably more points of interest that originally anticipated.

Originally, the company were planning to perform between 25 and 40 test drills over a 2.5 square kilometer area, this has been increased to between 95 and 110 test drills over a 3.2 square kilometer area following results that yielded higher-grade ounces per ton from initial drill results.

Gold Rim Exploration Inc. started the Cotogchoa Project in 2019 and initially planned for a mine life of approximately 8 to 10 years but with the outcome of this new test drill program expecting to yield high-grade gold deposits the company can foresee this extending the life of the mine by another 4 to 6 years.

Mr. Bernard Westbrook, Founder and CEO of Gold Rim Exploration Inc. was quoted, "Whenever we identify further potential deposits at existing sites it encourages us further to always explore more at other locations. This latest development at Cotogchoa will enable us to ensure long-term employment to the many local employees and contractors from the local community in which we operate. Without their continued support our potential for growth at this site would not be possible and we will endeavor to reciprocate the support they have always shown to us."

Results from the above test drill project should be made available by early 2026 whereupon the company will decide a production schedule based on the findings.