Golden Rim triples gold count at Balago

Golden Rim Resources shares have risen after it announced an extensive new discovery at its Balogo gold project in Burkina Faso.

Golden Rim said soil samples had revealed the previously defined resource anomaly at Balogo had been extended by an additional 7 kilometres, and a second parallel anomaly had been found 1 kilometre to the northwest of the first.

The main anomaly at Balago is now around 10 kilometres long, and between 500 metres and 200m wide, Golden Rim said.

At 10:47AM Golden Rim Shares had increased one cent to trade at 18 cents.

Golden Rim managing director Craig Mackay said the resource estimate at Balogo continued to grow in size.

"The zone is an extensive new discovery and has not received any previous drilling," Mr Mackay said.

Mr Mackay said Golden Rim had signed a contract with Boart Longyear to conduct further drilling and tests on Balago.