Last checked at 5 Dec 2011 07:00
Goldstone Resources Ltd
("GoldStone" or the "Company")
DRILL RESULTS FROM THE HOMASE/AKROKERRI PROJECT, ASHANTI GOLD BELT, GHANA
GoldStone Resources Ltd ("GoldStone" or the "Company"), the West and Central Africa focused gold exploration company, is pleased to announce results for four new drill holes at the Homase/Akrokerri project in Ghana.
Highlights:
·; Drill results extend the known part of the high-grade shoot under the northern part of the Homase pit from 140 metres to 215 metres below the base of the pit
·; Gold intersections include 10.4 metres at 4.4 g/t and 4.3 metres at 4.9 g/t
·; Mineralisation remains open at depth
Hendrik Schloemann, GoldStone's Exploration Director, commented: "We continue to be pleased with the progress of our drilling programme. As a consequence of these promising results, we intend to add at least one additional drill rig to the project from early next year."
Drilling Results
Drill hole 11HMRD015 (4.3 metres at 4.9 g/t) intersected the high-grade gold shoot under the northern part of the Homase pit, 175 metres below the base of the pit, while drill hole 11HMRD016 (10.4 metres at 4.4 g/t) intersected the same shoot 215 metres below the base of the pit. Mineralisation was also intersected at 190m below the base of the central part of the pit in drill holes 11HMRD012 and 11HMRD013, results of which are reported in the table below. All four boreholes intersected the mineralisation down-dip of GoldStone's 405,600 ounce JORC compliant gold resource at Homase/Akrokerri and underline the encouraging potential for an upgrade of this resource in the future. The mineralisation at Homase/Akrokerri remains open at depth and along strike.
A summary of all drilling results obtained since the start of the drill programme in June 2011 is provided below:
Drill Hole | From (m) | To (m) | Apparent Width | True Width | Au Grade |
11HMRD001 | 159.0 | 172.6 | 13.6 | 11.2 | 5.9 |
Including | 8.3 | 6.8 | 7.2 | ||
11HMRD002 | 158.0 | 171.0 | 13.0 | 10.1 | 6.4 |
Including | 10.0 | 8.2 | 8.2 | ||
11HMRD003 | 181.0 | 189.5 | 8.5 | 5.8 | 9.5 |
11HMRD004 | 142.0 | 150.0 | 8.0 | 6.3 | 4.9 |
Including | 6.0 | 4.7 | 6.5 | ||
11HMRD005 | 177.0 | 190.0 | 13.0 | 9.2 | 4.7 |
Including | 6.5 | 4.6 | 8.9 | ||
11HMRD006 | 201.0 | 204.0 | 3.0 | 1.7 | 0.8 |
11HMRD007 | 226.0 | 231.5 | 5.5 | 3.6 | 4.6 |
11HMRD008 | 232.0 | 234.0 | 2.0 | 1.4 | 1.6 |
11HMRD009 | 190.0 | 198.0 | 8.0 | 5.5 | 3.4 |
11HMRD010 | 173.4 | 175.0 | 1.6 | 0.8 | 1.4 |
11HMRD011 | 157.0 | 225.4 | 68.4 | 28.9 | 1.5 |
Including | 22.4 | 9.2 | 3.0 | ||
11HMRD012 | 212.0 | 219.8 | 7.8 | 5.6 | 0.9 |
11HMRD013 | 218.0 | 227.0 | 9.0 | 5.9 | 1.7 |
11HMRD015 | 252.0 | 258.0 | 6.0 | 4.3 | 4.9 |
Including | 3.2 | 2.3 | 8.4 | ||
11HMRD016 | 295.0 | 308.6 | 13.6 | 10.4 | 4.4 |
Including | 5.4 | 4.1 | 7.9 |
The Company has committed to 9,000 metres of drilling at Homase/Akrokerri. To date, 19 drill holes for a total of 4,750 metres of drilling have been completed. As a consequence of the promising drill results the Directors intend to add at least one additional drill rig to the Homase/Akrokerri project from early next year.
APPROVAL
Dr. Hendrik Schloemann, who holds a PhD in geology, has reviewed and approved the geological content of this announcement.
Enquiries
GoldStone Resources Limited | +27 21 551 9009 |
Jurie Wessels / Hendrik Schloemann | |
Westhouse Securities Limited | +44 20 7601 6100 |
Tim Feather / Matthew Johnson | |
Optiva Securities Limited | |
Jason Robertson | +44 20 3137 1906 |
Jeremy King | +44 20 3137 1904 |
Walbrook PR | +44 20 7933 8790 |
Louise Mason Bob Huxford |