drilling started....lets get ready to rumble

Golden Rim Resources Ltd ABN 39 006 710 774
Head Office: Level 2, 10 Outram Street, West Perth, WA 6005, Australia
Telephone: +61 8 9481 5758 Facsimile: +61 8 9481 5759
Email: [email protected] Website: www.goldenrim.com.au
(FORMERLY ALCASTON MINING NL)
ASX ANNOUNCEMENT
KEY NEW APPOINTMENT , COMMENCEMENT OF DRILLING AT SABETO
PROJECT, FIJI AND CHANGE OF NAME AND STATUS
Golden Rim Resources Ltd (formerly Alcaston Mining NL) is pleased to announce the
appointment of Mr Peter Olubas to the newly created role of Exploration Manager,
effective this month.
Mr Olubas is a geologist with 17 years’ professional experience, most recently as
Exploration Manager with Emperor Gold Mining Company. He has been based with
Emperor in Fiji for the past nine years and has significant experience in both the
exploration and mining of narrow epithermal vein gold mineralisation.
During the past year, Mr Olubas has also worked for DRD Gold, reviewing gold projects in
Africa. Prior to joining Emperor he worked at the Renison Bell and Mount Lyell Mines in
Tasmania as an underground mine geologist, and with RGC as an exploration geologist in
Australia and PNG.
The Board of Golden Rim welcomes the extensive technical experience brought to the
Company by Mr Olubas and looks forward to working closely with him on the Company’s
various projects. He will initially be based in Nadi, Fiji which will enable him to closely
manage the planned drilling, mapping and soil sampling programs at the Sabeto project.
The recent coup in Fiji has not impacted on plans to conduct a 3,000m diamond drilling
program at Sabeto. Staffing is in place, camp facilities have been finalised and the drilling
rig has arrived on site. Meetings have been held with landowners and compensation
agreements have been executed. The last few logistical items for the drilling are being
finalised and drilling is expected to commence soon after Christmas.
There is excellent all-weather gravel road access to the target areas at Sabeto which
should ensure that drilling can continue through the wet season. The program is expected
to take approximately three months to compete. Drilling will be conducted 24 hours a day,
six days a week.
Change of Name and Status
The Company also wishes to inform the market that it has changed its name and status
from Alcaston Mining NL to Golden Rim Resources Ltd. The Company will commence
trading under Golden Rim Resources from Friday, 22 December 2006 under the new ASX
ticker GMR.
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Should you require any further information, please do not hesitate to contact this office.
Yours faithfully
GOLDEN RIM RESOURCES LTD
CRAIG MACKAY
Exploration Director
20 December 2006
The information in this report, insofar as it relates to exploration results, is based on information compiled by Mr Craig
Mackay. Mr Mackay is a member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which
is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking,
to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves. Mr Mackay consults to the Company. This report accurately reflects the
information compiled by Mr Mackay and Mr Mackay consents to the inclusion in the report of the matters based on his
information in the form and context in which it appears.
MEDIA RELEASE 20 DECEMBER, 2006
ALCASTON CHANGES NAME, FOCUSES ON MAJOR
NEW FIJI GOLD DRILLING PROGRAM
APPOINTS FORMER EMPEROR GOLD MINING COMPANY EXECUTIVE AS EXPLORATION MANAGER
South Pacific-focused resource group Alcaston Mining NL is set to embark on a new era in its corporate
development, with a change of name and status to Golden Rim Resources Ltd (ASX: GMR) taking effect
this Friday, a major new drilling program set to commence shortly at its Sabeto Gold Project in Fiji, and the
appointment of a new Exploration Manager to head up its expanded exploration activities.
The new-look Company said today (Wednesday) a drilling rig had arrived on site at the Sabeto Project,
located approximately 25km north east of Fiji’s capital Nadi, ahead of a landmark 3,000m drilling program
set to commence shortly. Golden Rim is earning a 75% interest in the Sabeto Project, which is also located
25km from the 10 million ounce Vatukoula gold deposit, from Mincor Resources NL.
The Company anticipates excellent all-weather gravel road access to the key Sabeto target areas, which will
ensure that the drilling program can continue through the wet season.
The program, designed to test direct strike extensions to the 450,000-ounce Tuvatu epithermal gold deposit
and to identify potential bulk-tonnage copper-gold targets, is expected to take approximately three months to
complete. Drilling will be conducted 24 hours a day, 6 days a week.
As it prepares for the new exploration push, the Company also this week completes a change of name and
status from Alcaston Mining NL to Golden Rim Resources Ltd, reflecting its focus on exploration in the
prolific Pacific Rim region. This region hosts several other major world-class gold and copper-gold projects,
in addition to Vatukoula, Lihir and Porgera.
Golden Rim will commence ASX trading under its new name and ASX code, GMR, from Friday, 22
December 2006.
To spearhead its expanded exploration push, Golden Rim has announced the appointment of Mr Peter
Olubas to the newly created role of Exploration Manager, as its prepares for major new exploration
programs at all three of its gold projects in Fiji and Vanuatu.
Mr Olubas is a geologist with 17 years’ professional experience, most recently as Exploration Manager with
Emperor Gold Mining Company. He has been based with Emperor in Fiji for the past nine years and has
significant experience in both the exploration and mining of narrow epithermal vein gold mineralisation.
During the past year, Mr Olubas has also worked for DRD Gold, reviewing gold projects in Africa. Prior to
joining Emperor, he worked at the Renison Bell and Mount Lyell mines in Tasmania as an underground
mine geologist, and with RGC as an exploration geologist in Australia and PNG.
In welcoming Mr Olubas’ appointment ahead of the Fiji drilling campaign, Golden Rim’s Exploration Director,
Mr Craig Mackay, said: “Peter brings extensive technical experience to the Company and the Golden Rim
Board looks forward to working closely with him on our various projects. He will initially be based in Nadi,
Fiji, which will enable him to closely manage the planned drilling, mapping and soil sampling programs at
Sabeto.
“The recent coup in Fiji has not impacted on our substantial plans for this project, for which staffing and
camp facilities have been finalised,” he added. “Compensation agreements with landowners have been
executed and we expect to commence drilling soon after Christmas, using a rig which arrived on site this
week.”
Golden Rim is also planning major exploration programs at two substantial joint venture gold projects, Webe
Creek and Tafuse, in Vanuatu, during 2007, following a recent rights issue which raised $1.68M through the
issue of 21.1M shares at 8c per share.
The Company is earning an 81.25% interest in Webe Creek from Mincor and Rim Fire, and 75% in Tafuse,
from Mincor, through targeted drilling in a region recognised for its potential to host large gold and base
metals deposits such as the 40 million-ounce Lihir and 22 million-ounce Porgera deposits.
- ENDS -
Released by: On behalf of:
Nicholas Read/Susan Bower Mr Craig Mackay
Jan Hope & Partners Exploration Director
Telephone: (+61-8) 9388-1474 Golden Rim Resources Ltd
Telephone: (+61-3) 9894 7109
The information in this report, insofar as it relates to exploration results, is based on information compiled by Mr Craig Mackay. Mr Mackay is a
member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type
of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Mackay consults to the Company. This report
accurately reflects the information compiled by Mr Mackay and Mr Mackay consents to the inclusion in the report of the matters based on his
information in the form and context in which it appears.