Goldstone Resources Regulatory News (GRL)

26 Apr 2006 07:01

Goldstone Resources Ltd26 April 2006 GOLDSTONE RESOURCES LIMITED PROGRESS REPORT The Directors of Goldstone Resources Ltd ("Goldstone" or the "Company") wish toprovide the following update on the gold programme in Guyana. As announced on 8 February 2006, sedimentological analysis of drill corescarried out by GoldStone has produced a three-dimensional stratigraphic model ofthe internal layering of the Roraima mountainland in Lease Area "A". Ninesequence boundaries which could be associated with placer mineralisationprocesses were identified in the model. Assay results from additional samplingof the drill cores to test surfaces not previously sampled have now beenreceived. These assay results have not identified further mineralisedpalaeoplacer potential in Lease Area "A". In view of these, and previous, discouraging assay results of drill cores andthe inconclusive results from the soil sampling programme in Lease Area "A", theBoard has decided to concentrate the Company's future exploration activities inLease Area "A" on three of the twenty-five previously identified potentialprospecting licence areas. The angular unconformity recently discovered in twoof the three areas selected for prospecting licence applications is currentlybeing explored by shallow drilling. The mineralised layer identified in Lease Area "B" is also currently beinginvestigated further by trenching in order to identify the extent of the bed.Drilling to determine the grade of any further mineralisation may follow duringMay 2006. The assay results of drill cores recovered from the above two explorationprogrammes are expected to be available in July 2006. Dr Lawrie Minter, who holds a BSc in Geology and PhD in PalaeoplacerSedimentology and who is GoldStone's Director of Exploration, has reviewed andapproved the content of this announcement. Contact: 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