GoldStone Resources Limited
HIGH GRADE DRILL RESULTS FROM THE HOMASE/AKROKERRI PROJECT
GoldStone Resources Ltd ("GoldStone" or the "Company"), the West and Central Africa focused gold exploration company, is pleased to announce the results of four new drill holes at the Homase/Akrokerri project, part of the Ashanti Gold Belt in Ghana.
Highlights:
· Intersections include 8.1 metres at 11.1 g/t, 9.7 metres at 6.1 g/t and 4.0 metres at 6.7 g/t
· The mineralisation of the high grade shoot remains open at depth
· Results extend the known strike length of the high grade shoot at 200 metres depth under the northern part of the Homase pit from 20 metres to 95 metres
Hendrik Schloemann, GoldStone's Exploration Director, commented: "We are pleased to have extended the known strike extent of the high grade shoot at depth and are encouraged to see that the geometry of the shoot is predictable, the grades are consistently high and that the mineralisation remains open at depth."
A summary of the drilling results is shown below:
Drill hole | From (m) | To (m) | True Width (m) | Gold grade (g/t) |
11HMRD017 | 237 | 248 | 8.1 | 11.1 |
11HMRD019 | 275 | 280 | 4.0 | 6.7 |
11HMRD020 | 268 | 281 | 9.7 | 6.1 |
11HMRD021 | 223 | 259 | 18.5 | 0.9 |
Note: Drill hole 11HMRD018 was abandoned due to technical problems before it intersected its target zone.
Every drill hole intersected the mineralisation down-dip of GoldStone's 405,600 ounce JORC compliant gold resource at Homase/Akrokerri. These positive results indicate the potential for a resource upgrade in the future. The Company will now systematically test the down-dip extent of the gold resource along its entire four kilometre strike length and will also drill targets in the Akrokerri granite area. Since June 2011, when the drilling programme at Homase commenced, 20 drill holes totalling 5,278 metres have been completed.
APPROVAL
Dr. Hendrik Schloemann, who holds a PhD in geology, has reviewed and approved the geological content of this announcement.
Enquiries |
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GoldStone Resources Limited | +27 21 551 9009 |
Jurie Wessels / Hendrik Schloemann |
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Westhouse Securities Limited | +44 20 7601 6100 |
Tim Feather / Matthew Johnson |
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Optiva Securities Limited |
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Jason Robertson | +44 20 3137 1906 |
Jeremy King | +44 20 3137 1904 |
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Walbrook PR | +44 20 7933 8780 |
Louise Mason Bob Huxford |
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GoldStone is an AIM listed exploration company based in South Africa with exploration skills that primarily focus on gold. The company's projects are located in Ghana and Senegal and range from grassroots (Sangola in Senegal and Manso Amenfi in Ghana) to advanced exploration (Homase in Ghana). Both Ghanian exploration projects are classifiable as "brown fields" projects; i.e. they are located in the shadows of headgear of existing mining operations and may be commercialised even if they do not reach the critical mass to justify a standalone mining operation. The company is constantly reviewing new gold exploration opportunities to further grow its exploration portfolio and to reduce the discovery risk. In line with this strategy GoldStone recently submitted applications for two large gold exploration permits in Gabon, Central Africa. Once acquired, the company's strategy is to develop a project towards the Bankable Feasibility Stage.Visit the Goldstone Resources Ltd website
