RNS out17 Jul 2017 09:33
but not yet available on lse.
17 July 2017
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Update on Operations
GoldStone Resources Limited (AIM: GRL) is pleased to announce that it has commenced field work at its Homase-Akrokerri project in Ghana.
Following the investment by Paracale Gold Limited, the Company has undertaken a review of all of the available historic data on the existing JORC Code compliant resource for the Homase-Akrokerri project. Based on the review to date, the directors of the Company believe that there is a mineable reserve within the oxide zone within the Akrokerri licence. As the next step, the Company has commenced pit definition drilling, coupled with additional confirmation drilling to progress pit modelling. To carry out this work the Company has appointed Ghanaian contractors, BCM Ghana Limited, who have mobilised a drill rig and established earthworks equipment on the Akrokerri mine site.
These initial steps will facilitate pit design and provide the necessary platform for proceeding with an application to the Government of Ghana for a mining permit, which we expect to initiate before the end of September.
Neil Gardyne, Chairman, commented: "At long last we have an action orientated outlook for the Company and we are building a team to aggressively pursue a gold production focused strategy for the benefit of our shareholders."