LONDON (Alliance News) - GoldStone Resources Ltd on Tuesday said a review of existing geological data for the Homase/Akrokerri gold project in Ghana has showed the potential for additional oxide resources to be discovered at the site.
An internal and peer review team found significant exploration potential exists in previously under-explored areas of the project, GoldStone said, and as a consequence further work has been planned to identify priority areas for further work.
It plans to start the work in February and said it expects the work to take around eight weeks. Assay data from this programme will then be used to define further exploration and drill targets.
"From a re-evaluation of existing exploration data, the company's geologists determined that potential exists for the discovery of further gold mineralisation at a number of locations across the project area, particularly in areas where the Homase/Akrokerri resource is likely to continue along the trend identified by the host structural zone," said GoldStone Chief Executive Officer Jurie Wessels.
GoldStone's announcement also was noted by Stratex International PLC, which holds a 33.45% stake in GoldStone.
Shares in GoldStone were up 5.9% to 2.25 pence on Tuesday, while Stratex shares were untraded, having last traded at 1.68 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Goldstone Resources (GRL)