(Alliance News) - Goldstone Resources Ltd on Wednesday said that results from diamond drilling at Akrokeri have affirmed its belief that mineralisation occupies a significant structural corridor, extending to both the south and north of the mine.
Goldstone Resources is a Jersey, UK-based gold development company with projects in West Africa.
It provided an update on recent diamond drilling at the former Akrokeri underground mine, as well as the soil and auger geochemical programmes within the Akrokeri and Homase prospecting licences.
Significant intercepts included 6.50 metres at 1.63 grammes per tonne from 7.7 metres, including 3.5 metres at 2.35 grammes per tonne.
A total of 20 diamond holes have now been drilled, 14 probing the southern extension of the South Shaft and the remaining 6 holes around the North Shaft.
Goldstone said the results give strong grounds for continued exploration at Akrokeri, while at Homase, the results confirmed anomalies demonstrating a new mineralised zone to the west of the main orebody.
"These results on Akrokeri spur us forward to discovering further deposits in order to secure a long-term pipeline of resources," said Chief Executive Officer Emma Priestly.
She added: "These initial findings ... provide us with renewed confidence as we seek to extend our operations in the prospective area and extend the mine life at the Homase Mine. In addition to these positive exploration results, we look forward to announcing an operational update for the Homase Mine in the coming weeks."
Goldstone Resources shares were trading 4.1% higher at 3.02 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News reporter
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Goldstone Resources (GRL)