Goldstone Resources Regulatory News (GRL)

2 Jun 2005 07:01

Goldstone Resources Ltd02 June 2005 GOLDSTONE RESOURCES LTD GOLD: ASSAY RESULTS AND PROGRESS REPORT The Directors of GoldStone Resources Ltd ("the Company" or "GoldStone") arepleased to report on the progress of the Company's gold programme. The reconnaissance drilling programme has now been completed. Geologicalanalysis of drilling results received to date has highlighted two continuouspalaeosurfaces at depth, each over 100 square kilometres in extent, withassociated anomalous gold mineralization. Five follow-up reconnaissance drillholes are in progress over these targets. A total of 11,562m within 51 drill holes has been drilled in the Company's twolease areas. Seven of the holes drilled into gabbro sills that are usually 300mthick and were therefore aborted. Assay results from 18 drill holes have indicated 28 gold-bearing palaeoplacertracers. Five drill holes were barren and 21 drill holes are still in theprocess of being sampled or assayed. To date, a total of 3,485 drill holesamples have been delivered to the assay laboratory and 2,749 samples have beenassayed. In addition to previously reported encouraging results, five newpositive assays ranging from 100 to 1,140 ppb have been obtained and are listedbelow. A downhole geophysical survey of twenty-two of the drill holes has beencompleted and the data are being integrated with sedimentological logs. Dr Minter, GoldStone's Director of Exploration, reports that: "Three-dimensionalstratigraphic analysis of a set of three drill holes in Lease Area "A", where athin 6.36g/t gold-bearing distal palaeosurface was intersected, has confirmed alaterally continuous planar surface at 54 metres depth, which is estimated toextend over 112 square kilometres. Two follow-up reconnaissance drill holes arein progress over this very prospective target. Three-dimensional stratigraphic analysis of a set of five drill holes in LeaseArea "B", which intersected a thin 26g/t gold-bearing palaeosurface 108 metresbelow surface, has also revealed regional continuity across an area that isestimated to extend over 123 square kilometres. Three follow-up reconnaissancedrill holes are in progress over this prospective target." It is anticipated that by the end of August 2005, all the assay data will beavailable and that three-dimensional stratigraphic analysis incorporating themwill have been completed. This will enable definition of the most prospectiveareas to be made and Prospecting Applications may be submitted for follow-upexploration. SAMPLE THICKNESS ASSAY VALUE number m ppb Au 3396 0.35 228 4908 0.38 460 5000 0.38 100 5363 0.30 200 5683 0.25 1140 Contacts: GoldStone Resources Ltd 00 27 21 794 4004Nico van der Hoven (Chief Executive Officer) This information is provided by RNS The company news service from the London Stock Exchange