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Goldstone Resources (GRL)
moneyman - 13 Sep 2006 14:38
Just noticed the rise today.
Company website http://www.goldstoneresources.com/
banjomick
- 06 Sep 2017 21:18
- 102 of 124
banjomick
- 07 Sep 2017 08:26
- 103 of 124
7 September 2017
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Operational Update - Akrokerri Deep Trenches and Licences
GoldStone Resources Limited (AIM: GRL) announces the results of a deep trenching programme, completed as the first step of the pit definition programme announced on 17 July 2017, on the Akrokerri Licence in Ghana. The trenching was undertaken to define the extent of the mineralisation in the near-surface oxide zone of the known deposit and augment the findings from the continued review by the Company of the historical database for the Homase and Akrokerri licences.
The Company dug four trenches (Figure 1), two in each of the proposed pits, within the Southern part of the 2012 JORC Code compliant resource ("Current Resource"). The trenches, located on the Southern part of the Current Resource and along strike from the old Homase pit, were identified as having a high potential for an initial open pit for heap-leach production within the oxide zone. The trenches were dug to a depth of 7 metres and channel samples were taken near the bottom of each trench in 1 metre consolidated intervals.
Figure 1. Location of trenching within the Proposed Pit Outlines in the Akrokerri Licence
http://www.rns-pdf.londonstockexchange.com/rns/0398Q_1-2017-9-6.pdf
Licence Update
The Company continues to review its portfolio and is in the process of renewing its licences in both Senegal and Ghana. With regards to Gabon, the Company is considering its options which will likely result in the disposal or relinquishment of the licences.
In respect to Ghana, all requisite documents have been submitted to the Ghanaian Minerals Commission for both Akrokerri (100 per cent. interest) and Homase (90 per cent. economic interest) and the Company has received confirmation that the licences are awaiting signature from the Minister of Mines.
The current drilling and trenching will facilitate in determining the potential pit design for the proposed Akrokerri pits and will provide the necessary platform for proceeding with an application to the Government of Ghana for a mining permit, following the extension of the licences.
***Further details regarding krokerri Deep Trenches via Link below***
http://www.moneyam.com/action/news/showArticle?id=5655090
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Operational Update - Akrokerri Deep Trenches and Licences
GoldStone Resources Limited (AIM: GRL) announces the results of a deep trenching programme, completed as the first step of the pit definition programme announced on 17 July 2017, on the Akrokerri Licence in Ghana. The trenching was undertaken to define the extent of the mineralisation in the near-surface oxide zone of the known deposit and augment the findings from the continued review by the Company of the historical database for the Homase and Akrokerri licences.
The Company dug four trenches (Figure 1), two in each of the proposed pits, within the Southern part of the 2012 JORC Code compliant resource ("Current Resource"). The trenches, located on the Southern part of the Current Resource and along strike from the old Homase pit, were identified as having a high potential for an initial open pit for heap-leach production within the oxide zone. The trenches were dug to a depth of 7 metres and channel samples were taken near the bottom of each trench in 1 metre consolidated intervals.
Figure 1. Location of trenching within the Proposed Pit Outlines in the Akrokerri Licence
http://www.rns-pdf.londonstockexchange.com/rns/0398Q_1-2017-9-6.pdf
Licence Update
The Company continues to review its portfolio and is in the process of renewing its licences in both Senegal and Ghana. With regards to Gabon, the Company is considering its options which will likely result in the disposal or relinquishment of the licences.
In respect to Ghana, all requisite documents have been submitted to the Ghanaian Minerals Commission for both Akrokerri (100 per cent. interest) and Homase (90 per cent. economic interest) and the Company has received confirmation that the licences are awaiting signature from the Minister of Mines.
The current drilling and trenching will facilitate in determining the potential pit design for the proposed Akrokerri pits and will provide the necessary platform for proceeding with an application to the Government of Ghana for a mining permit, following the extension of the licences.
***Further details regarding krokerri Deep Trenches via Link below***
http://www.moneyam.com/action/news/showArticle?id=5655090
banjomick
- 27 Sep 2017 09:06
- 104 of 124
27 September 2017
GOLDSTONE RESOURCES LIMITED
Goldstone Announces £1.5 million Subscription
The Board of Goldstone Resources Limited (GRL:AIM) is pleased to announce that the Company is raising £1.5 million gross by way of a subscription for 100,000,000 new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") (the "Subscription Shares") at 1.5 pence per Subscription Share (the "Subscription Price") with new and existing shareholders (the "Subscription").
The Subscription
The Subscription Shares will represent approximately 40.17 per cent of the Company's enlarged issued share capital and application will be made for the admission of the Subscription Shares to trading on AIM. Subject to receipt of the proceeds of the Subscription, expected shortly, it is anticipated that dealings in the Subscription Shares will commence at 8.00 a.m. on 6 October 2017 ("Admission"). The total number of shares in issue following Admission will be 248,968,523, which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Goldstone under the Financial Conduct Authority's Disclosure and Transparency Rules.
The Subscription Price represents a discount of approximately 31.8 per cent. to the closing mid market price of the Company's Ordinary Shares on 26 September 2017, being the latest practicable date prior to this announcement, and a discount of approximately 21.2 per cent. to the Company's average closing mid market price for the 30 days prior to 26 September 2017.
BCM Investment Limited ("BCM") is subscribing for 50,000,000 Subscription Shares as part of the Subscription, representing approximately 20.08 per cent. of the Company's issued share capital on Admission. BCM and its subsidiaries (together, the "BCM Group") has provided the Company with mining services in relation to the Company's current drilling programmes. As part of the relationship which has developed between the Company and BCM Group as a result of this work and the fact that the BCM Group is supportive of the Company's strategy, discussions that have been ongoing over recent weeks have culminated in the BCM Group supporting the Company through its participation in the Subscription.
BCM is one of Africa's largest private contract miners. BCM Group began as "Bayswater Contracting", a family firm in Western Australia in the early 1950s, involved primarily in the civil works and mining construction business. Under the same family ownership, BCM Group expanded into Ghana in 1990 and thereafter further into Mali, Tanzania, Guinea and Niger. By 2000, BCM had established itself as one of the leading mining and civil contractors in Sub-Saharan Africa. In 2004, BCM became the first Western-style mining contractor in Central Asia, with operations in Uzbekistan and Kazakhstan. BCM are seeking partners to develop resource projects in West Africa.
Relationship Agreement
The Company, BCM and Strand Hanson have entered into a relationship agreement, to provide certain safeguards to ensure, inter alia, that for so long as BCM and its associates together are entitled to exercise or control the exercise of 20 per cent. or more of the issued share capital of the Company, GoldStone is capable of carrying on its business independently of BCM as a substantial shareholder.
Use of Proceeds
The proceeds of the Subscription will be applied to the Company's operations and the general advancement of the Company's corporate objectives.
Related Party Transaction
Paracale Gold Limited ("Paracale"), an existing shareholder in the Company, will be subscribing for 30,000,000 Subscription Shares pursuant to the Subscription. On Admission, Paracale will hold an aggregate holding of 70,352,377 Ordinary Shares in the Company representing approximately 28.26 per cent. of the Company's issued share capital on Admission. As Paracale is currently interested in approximately 27.09 per cent. of the Company's current issued share capital, the issue of Subscription Shares to Paracale is a related party transaction under the AIM Rules for Companies. The Company's Board of Directors, having consulted with the Company's nominated adviser, Strand Hanson Limited, considers that the terms of the proposed issue of the Subscription Shares to Paracale are fair and reasonable insofar as the Company's shareholders are concerned.
Neil Gardyne, Non-Executive Chairman, commented:
"We are delighted to welcome BCM as a shareholder and partner to Goldstone and with the continued support from existing shareholders in raising £1.5 million in an uncertain market. We look forward to applying these funds to furthering the Company's objectives and accelerating growth with Homase/Akrokerri Project in Ghana."
http://www.moneyam.com/action/news/showArticle?id=5680538
GOLDSTONE RESOURCES LIMITED
Goldstone Announces £1.5 million Subscription
The Board of Goldstone Resources Limited (GRL:AIM) is pleased to announce that the Company is raising £1.5 million gross by way of a subscription for 100,000,000 new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") (the "Subscription Shares") at 1.5 pence per Subscription Share (the "Subscription Price") with new and existing shareholders (the "Subscription").
The Subscription
The Subscription Shares will represent approximately 40.17 per cent of the Company's enlarged issued share capital and application will be made for the admission of the Subscription Shares to trading on AIM. Subject to receipt of the proceeds of the Subscription, expected shortly, it is anticipated that dealings in the Subscription Shares will commence at 8.00 a.m. on 6 October 2017 ("Admission"). The total number of shares in issue following Admission will be 248,968,523, which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Goldstone under the Financial Conduct Authority's Disclosure and Transparency Rules.
The Subscription Price represents a discount of approximately 31.8 per cent. to the closing mid market price of the Company's Ordinary Shares on 26 September 2017, being the latest practicable date prior to this announcement, and a discount of approximately 21.2 per cent. to the Company's average closing mid market price for the 30 days prior to 26 September 2017.
BCM Investment Limited ("BCM") is subscribing for 50,000,000 Subscription Shares as part of the Subscription, representing approximately 20.08 per cent. of the Company's issued share capital on Admission. BCM and its subsidiaries (together, the "BCM Group") has provided the Company with mining services in relation to the Company's current drilling programmes. As part of the relationship which has developed between the Company and BCM Group as a result of this work and the fact that the BCM Group is supportive of the Company's strategy, discussions that have been ongoing over recent weeks have culminated in the BCM Group supporting the Company through its participation in the Subscription.
BCM is one of Africa's largest private contract miners. BCM Group began as "Bayswater Contracting", a family firm in Western Australia in the early 1950s, involved primarily in the civil works and mining construction business. Under the same family ownership, BCM Group expanded into Ghana in 1990 and thereafter further into Mali, Tanzania, Guinea and Niger. By 2000, BCM had established itself as one of the leading mining and civil contractors in Sub-Saharan Africa. In 2004, BCM became the first Western-style mining contractor in Central Asia, with operations in Uzbekistan and Kazakhstan. BCM are seeking partners to develop resource projects in West Africa.
Relationship Agreement
The Company, BCM and Strand Hanson have entered into a relationship agreement, to provide certain safeguards to ensure, inter alia, that for so long as BCM and its associates together are entitled to exercise or control the exercise of 20 per cent. or more of the issued share capital of the Company, GoldStone is capable of carrying on its business independently of BCM as a substantial shareholder.
Use of Proceeds
The proceeds of the Subscription will be applied to the Company's operations and the general advancement of the Company's corporate objectives.
Related Party Transaction
Paracale Gold Limited ("Paracale"), an existing shareholder in the Company, will be subscribing for 30,000,000 Subscription Shares pursuant to the Subscription. On Admission, Paracale will hold an aggregate holding of 70,352,377 Ordinary Shares in the Company representing approximately 28.26 per cent. of the Company's issued share capital on Admission. As Paracale is currently interested in approximately 27.09 per cent. of the Company's current issued share capital, the issue of Subscription Shares to Paracale is a related party transaction under the AIM Rules for Companies. The Company's Board of Directors, having consulted with the Company's nominated adviser, Strand Hanson Limited, considers that the terms of the proposed issue of the Subscription Shares to Paracale are fair and reasonable insofar as the Company's shareholders are concerned.
Neil Gardyne, Non-Executive Chairman, commented:
"We are delighted to welcome BCM as a shareholder and partner to Goldstone and with the continued support from existing shareholders in raising £1.5 million in an uncertain market. We look forward to applying these funds to furthering the Company's objectives and accelerating growth with Homase/Akrokerri Project in Ghana."
http://www.moneyam.com/action/news/showArticle?id=5680538
banjomick
- 02 Oct 2017 09:24
- 105 of 124
2 October 2017
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Board Changes
GoldStone Resources Limited (AIM: GRL), the West and Central Africa focused gold exploration company quoted on AIM, is pleased to announce the appointment of William ('Bill') Trew as Non-Executive Chairman of the Board, with immediate effect.
Bill takes over from Neil Gardyne, who was appointed as Non-Executive Chairman on 28 July 2016 and today resigns from the Board with immediate effect. Bill is currently chairman of the MAED group of companies and a director of Gold Mines of Uganda and Paracale Gold Limited.
Emma Priestley, Chief Executive Officer, commented:
"Neil joined the Board at a time when the Company was undergoing a period of transition. His guidance has been invaluable, particularly in navigating a time of restructuring and refocus and in helping facilitate the smooth transition in executive leadership. We thank him and wish him well with his endeavours going forward.
"We are delighted to welcome Bill to GoldStone. His experience working in mining and knowledge of the market will be invaluable to us as we embark on the next chapter in GoldStone's development."
About William ('Bill') Trew
Bill graduated from the University of Wales with a degree in engineering and achieved a Master's degree in engineering at Randse Africanse University in Johannesburg in 1984, while working at the Chamber of Mines of South Africa.
He has since gained over 37 years' experience in the mining and engineering industry worldwide.
In 1986 he founded MAED Limited, a specialist project management and engineering design company specialising in constructing gold processing plants for the gold mining industry. Under his leadership, MAED has designed and constructed 23 gold processing plants around the globe including Mali, South Africa, Uganda, Uzbekistan, Kyrgyzstan and the Philippines.
He was Chief Executive Officer of Oxus Gold plc, where he oversaw construction of three new gold mines (Amantaytau, Vysokovoltnoye and Jerooy). Since then he has held a number of other executive and non executive roles at listed and private mining companies where he has continued building and refurbishing Gold Mines.
He is currently chairman of the MAED group of companies and a director of Gold Mines of Uganda and Paracale Gold Limited.
The following additional information is provided in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies in relation to the appointment of William Trew: ***See link below***
http://www.moneyam.com/action/news/showArticle?id=5686478
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Board Changes
GoldStone Resources Limited (AIM: GRL), the West and Central Africa focused gold exploration company quoted on AIM, is pleased to announce the appointment of William ('Bill') Trew as Non-Executive Chairman of the Board, with immediate effect.
Bill takes over from Neil Gardyne, who was appointed as Non-Executive Chairman on 28 July 2016 and today resigns from the Board with immediate effect. Bill is currently chairman of the MAED group of companies and a director of Gold Mines of Uganda and Paracale Gold Limited.
Emma Priestley, Chief Executive Officer, commented:
"Neil joined the Board at a time when the Company was undergoing a period of transition. His guidance has been invaluable, particularly in navigating a time of restructuring and refocus and in helping facilitate the smooth transition in executive leadership. We thank him and wish him well with his endeavours going forward.
"We are delighted to welcome Bill to GoldStone. His experience working in mining and knowledge of the market will be invaluable to us as we embark on the next chapter in GoldStone's development."
About William ('Bill') Trew
Bill graduated from the University of Wales with a degree in engineering and achieved a Master's degree in engineering at Randse Africanse University in Johannesburg in 1984, while working at the Chamber of Mines of South Africa.
He has since gained over 37 years' experience in the mining and engineering industry worldwide.
In 1986 he founded MAED Limited, a specialist project management and engineering design company specialising in constructing gold processing plants for the gold mining industry. Under his leadership, MAED has designed and constructed 23 gold processing plants around the globe including Mali, South Africa, Uganda, Uzbekistan, Kyrgyzstan and the Philippines.
He was Chief Executive Officer of Oxus Gold plc, where he oversaw construction of three new gold mines (Amantaytau, Vysokovoltnoye and Jerooy). Since then he has held a number of other executive and non executive roles at listed and private mining companies where he has continued building and refurbishing Gold Mines.
He is currently chairman of the MAED group of companies and a director of Gold Mines of Uganda and Paracale Gold Limited.
The following additional information is provided in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies in relation to the appointment of William Trew: ***See link below***
http://www.moneyam.com/action/news/showArticle?id=5686478
banjomick
- 03 Oct 2017 09:03
- 106 of 124
03 October 2017
GOLDSTONE RESOURCES LIMITED
Director/PDMR Notifications
GoldStone Resources Limited (AIM: GRL), the West and Central Africa focused gold exploration company quoted on AIM, announces the following issues of a total of 643,315 ordinary shares of 1 penny each ("Ordinary Shares") to directors of the Company in lieu of salaries accrued in September 2017 ("Fee Shares"). As set out in the Company's announcements of 3 April 2017 and 2 June 2017, the Directors have agreed, in order to preserve cash, to convert salaries and fees through to the end of September 2017 into Ordinary Shares.
The number of Fee Shares to be issued in respect of such fees and salaries for September 2017 has been calculated by reference to the volume weighted average price of the Ordinary Shares for the period of 30 days prior to the 1 October 2017, being 1.92p.
In addition to the Fee Shares, the Board have agreed to issue 96,153 Ordinary Shares to Neil Gardyne in respect of his salary for October, due in respect of his one month notice period following his resignation from the Board announced yesterday (the "Additional Fee Shares"). The number of Additional Fee Shares has been calculated based on the closing mid market price of the Company's Ordinary Shares on 2 October 2017 of 2.08p, being the latest practicable date prior to this announcement.
The Fee Shares to be issued to each of the Directors in respect of accrued fees and salaries for the month of September 2017, the Additional Fee Shares and the resulting interests in Ordinary Shares are set out below: ***Via Link Below***
http://www.moneyam.com/action/news/showArticle?id=5688571
GOLDSTONE RESOURCES LIMITED
Director/PDMR Notifications
GoldStone Resources Limited (AIM: GRL), the West and Central Africa focused gold exploration company quoted on AIM, announces the following issues of a total of 643,315 ordinary shares of 1 penny each ("Ordinary Shares") to directors of the Company in lieu of salaries accrued in September 2017 ("Fee Shares"). As set out in the Company's announcements of 3 April 2017 and 2 June 2017, the Directors have agreed, in order to preserve cash, to convert salaries and fees through to the end of September 2017 into Ordinary Shares.
The number of Fee Shares to be issued in respect of such fees and salaries for September 2017 has been calculated by reference to the volume weighted average price of the Ordinary Shares for the period of 30 days prior to the 1 October 2017, being 1.92p.
In addition to the Fee Shares, the Board have agreed to issue 96,153 Ordinary Shares to Neil Gardyne in respect of his salary for October, due in respect of his one month notice period following his resignation from the Board announced yesterday (the "Additional Fee Shares"). The number of Additional Fee Shares has been calculated based on the closing mid market price of the Company's Ordinary Shares on 2 October 2017 of 2.08p, being the latest practicable date prior to this announcement.
The Fee Shares to be issued to each of the Directors in respect of accrued fees and salaries for the month of September 2017, the Additional Fee Shares and the resulting interests in Ordinary Shares are set out below: ***Via Link Below***
http://www.moneyam.com/action/news/showArticle?id=5688571
banjomick
- 17 Oct 2017 09:26
- 107 of 124
Stratex sells Goldstone Resources stake
17 October 2017 | 08:23am
StockMarketWire.com - Stratex has sold its 13.7% stake in Goldstone Resources to institutional investors for £0.55m.
Shares in the company were sold at 1.6p each.
Emma Priestley has resigned as a non-executive director of Stratex, effective today, due to her full-time commitments as Goldstone's chief executive.
At 8:23am: [LON:STI] Stratex International PLC share price was -0.05p at 1.13p
http://www.stockmarketwire.com/article/5706385/Stratex-sells-Goldstone-Resources-stake.html
TR-1: Standard form for notification of major holdings
17 October 2017 | 08:23am
StockMarketWire.com - Stratex has sold its 13.7% stake in Goldstone Resources to institutional investors for £0.55m.
Shares in the company were sold at 1.6p each.
Emma Priestley has resigned as a non-executive director of Stratex, effective today, due to her full-time commitments as Goldstone's chief executive.
At 8:23am: [LON:STI] Stratex International PLC share price was -0.05p at 1.13p
http://www.stockmarketwire.com/article/5706385/Stratex-sells-Goldstone-Resources-stake.html
TR-1: Standard form for notification of major holdings
banjomick
- 09 Nov 2017 09:48
- 108 of 124
9 November 2017
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Results of Akrokerri pit definition drilling
GoldStone Resources Limited (AIM: GRL) announces that it has successfully completed its pit definition Reverse Circulation ("RC") drilling programme in the Southern part of the 2012 JORC compliant resource area within the 100% owned Akrokerri licence, with results continuing to confirm the expected gold content.
The RC drilling programme consisted of 26 holes for a total of 1,470 metres at the Akrokerri project. The programme, which is the first part of the Akrokerri open pit project, identified as AK01 North and AK01 South, confirmed the results of the historical drilling and recent trenching to further support the economic potential of the project.
The preliminary assessment of the RC drilling programme shows that 22 of the 26 holes intersected the mineralised zone with economic values and mining widths for the target zone - Table 1 below shows the results of the intervals that will be used for the Pit design. The four sub-economic holes (AKRC022, 23, 24 and 26) are situated at the southern end of the proposed southern pit (see Figure 1). All of the assays were undertaken by the ALS Laboratory in Kumasi, Ghana.
The results from two of the RC infill drillholes exceeded expectations, with AKRC018 returning 2.22g/t over 30 metre drill length between intervals 41 metres and 71 metres at a vertical depth below surface of 27 metres to 48 metres and AKRC012 returning 3.78g/t over 12 metres drill length between intervals 22 metres and 34 metres at a vertical depth below surface of 15 metres to 23 metres. In addition, hole AKRC017 delivered one of the best results on the Akrokerri licence to date, with 12.4g/t over a 1 metre length between intervals 20 metres and 21 metres at a vertical depth below surface of 13 metres.
Based on these assays from this RC drilling programme, the arithmetic average of the grades is 1.8 g/t over 10.5 metres drilling width (approximately 7 metres true width) within the mineralised zone of the two proposed pits (sample cut-off 0.5g/t). The continuous strike length over these two proposed pits is approximately 1,500 metres, compared to the approximately 700 metres strike length of the existing Homase pit which was mined by Ashanti Goldfields between 2002 and 2003 and produced 52,452 oz gold at an average grade of 2.85g/t.
A grade distribution analysis indicates a relatively disseminated pattern, no nugget effect is expected. Therefore, the grade forecast is expected to be close to the mine grade.
A detailed spatial analysis including an estimation of mineable resources is currently being undertaken using MicroMine software and metallurgical tests are on-going.
This programme has indicated that the mineralisation may split towards the South. If this is confirmed by 3D analysis, a sub- parallel second zone may be available for mining within the proposed pit.
Bill Trew, Chairman, commented: "We are very pleased that this programme continues to confirm our expectations of the Akrokerri deposit. We are narrowing the gaps in past drilling and improving the confidence in the resource as required in order to move towards the earliest possible development of a mine. These results are encouraging, in particular the two infill drillholes that exceeded our expectations and the extent of the near surface oxidised, mineralisation zone. We look forward to keeping you updated as we seek to move the project forward."
More from link below
http://www.moneyam.com/action/news/showArticle?id=5736487
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Results of Akrokerri pit definition drilling
GoldStone Resources Limited (AIM: GRL) announces that it has successfully completed its pit definition Reverse Circulation ("RC") drilling programme in the Southern part of the 2012 JORC compliant resource area within the 100% owned Akrokerri licence, with results continuing to confirm the expected gold content.
The RC drilling programme consisted of 26 holes for a total of 1,470 metres at the Akrokerri project. The programme, which is the first part of the Akrokerri open pit project, identified as AK01 North and AK01 South, confirmed the results of the historical drilling and recent trenching to further support the economic potential of the project.
The preliminary assessment of the RC drilling programme shows that 22 of the 26 holes intersected the mineralised zone with economic values and mining widths for the target zone - Table 1 below shows the results of the intervals that will be used for the Pit design. The four sub-economic holes (AKRC022, 23, 24 and 26) are situated at the southern end of the proposed southern pit (see Figure 1). All of the assays were undertaken by the ALS Laboratory in Kumasi, Ghana.
The results from two of the RC infill drillholes exceeded expectations, with AKRC018 returning 2.22g/t over 30 metre drill length between intervals 41 metres and 71 metres at a vertical depth below surface of 27 metres to 48 metres and AKRC012 returning 3.78g/t over 12 metres drill length between intervals 22 metres and 34 metres at a vertical depth below surface of 15 metres to 23 metres. In addition, hole AKRC017 delivered one of the best results on the Akrokerri licence to date, with 12.4g/t over a 1 metre length between intervals 20 metres and 21 metres at a vertical depth below surface of 13 metres.
Based on these assays from this RC drilling programme, the arithmetic average of the grades is 1.8 g/t over 10.5 metres drilling width (approximately 7 metres true width) within the mineralised zone of the two proposed pits (sample cut-off 0.5g/t). The continuous strike length over these two proposed pits is approximately 1,500 metres, compared to the approximately 700 metres strike length of the existing Homase pit which was mined by Ashanti Goldfields between 2002 and 2003 and produced 52,452 oz gold at an average grade of 2.85g/t.
A grade distribution analysis indicates a relatively disseminated pattern, no nugget effect is expected. Therefore, the grade forecast is expected to be close to the mine grade.
A detailed spatial analysis including an estimation of mineable resources is currently being undertaken using MicroMine software and metallurgical tests are on-going.
This programme has indicated that the mineralisation may split towards the South. If this is confirmed by 3D analysis, a sub- parallel second zone may be available for mining within the proposed pit.
Bill Trew, Chairman, commented: "We are very pleased that this programme continues to confirm our expectations of the Akrokerri deposit. We are narrowing the gaps in past drilling and improving the confidence in the resource as required in order to move towards the earliest possible development of a mine. These results are encouraging, in particular the two infill drillholes that exceeded our expectations and the extent of the near surface oxidised, mineralisation zone. We look forward to keeping you updated as we seek to move the project forward."
More from link below
http://www.moneyam.com/action/news/showArticle?id=5736487
banjomick
- 27 Nov 2017 09:47
- 109 of 124
27 November 2017
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Director Appointment
GoldStone Resources Limited (AIM: GRL), the West and Central Africa focused gold exploration company quoted on AIM, is pleased to announce the appointment of Angela List as a Non-Executive Director to its Board of Directors (the "Board").
Angela is a director of BCM Investment Limited ("BCM"), which following its participation in the Company's recent fundraise announced on 27 September 2017, is interested in approximately 20.08 per cent. of the Company's issued share capital. BCM is part of the wider BCM Group of companies ("BCM Group"), which are one of Africa's largest private contract miners.
The Board looks forward to working alongside Angela, who has significant operational and in-country expertise, to further the Company's business objectives in Ghana. Her trusted network throughout Africa extends from Government authorities through to the local communities where the BCM Group operates. Most recently, Angela was instrumental in the BCM Group acquiring a 90 per cent. interest in the Nzema Mine in Ghana, formerly owned by TSX-listed Endeavour Mining Corporation.
Angela joined the BCM Group in 2001 as Finance Director and has overseen significant growth throughout the business, increasing total assets from approximately US$21 million up to US$246 million as at 2016. In the same manner revenues have increased from approximately US$20 million in 2001 to approximately US$111 million in 2016. Prior to this Angela was a member of the audit team at KPMG Ghana Limited.
The Company confirms that it intends to appoint an additional independent Non-Executive Director, and the Company looks forward to updating shareholders in due course.
Bill Trew, Non-Executive Chairman of GoldStone, commented:
"I am delighted to welcome Angela to the Board of GoldStone, as she brings a wealth of experience to the GoldStone team. Her business acumen and diverse experience across many disciplines which, in particular, involves mining throughout West Africa, will be a great asset to assist the Company in building value from proposition through to mining and production and bringing shareholder value to the Company."
http://www.moneyam.com/action/news/showArticle?id=5757240
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Director Appointment
GoldStone Resources Limited (AIM: GRL), the West and Central Africa focused gold exploration company quoted on AIM, is pleased to announce the appointment of Angela List as a Non-Executive Director to its Board of Directors (the "Board").
Angela is a director of BCM Investment Limited ("BCM"), which following its participation in the Company's recent fundraise announced on 27 September 2017, is interested in approximately 20.08 per cent. of the Company's issued share capital. BCM is part of the wider BCM Group of companies ("BCM Group"), which are one of Africa's largest private contract miners.
The Board looks forward to working alongside Angela, who has significant operational and in-country expertise, to further the Company's business objectives in Ghana. Her trusted network throughout Africa extends from Government authorities through to the local communities where the BCM Group operates. Most recently, Angela was instrumental in the BCM Group acquiring a 90 per cent. interest in the Nzema Mine in Ghana, formerly owned by TSX-listed Endeavour Mining Corporation.
Angela joined the BCM Group in 2001 as Finance Director and has overseen significant growth throughout the business, increasing total assets from approximately US$21 million up to US$246 million as at 2016. In the same manner revenues have increased from approximately US$20 million in 2001 to approximately US$111 million in 2016. Prior to this Angela was a member of the audit team at KPMG Ghana Limited.
The Company confirms that it intends to appoint an additional independent Non-Executive Director, and the Company looks forward to updating shareholders in due course.
Bill Trew, Non-Executive Chairman of GoldStone, commented:
"I am delighted to welcome Angela to the Board of GoldStone, as she brings a wealth of experience to the GoldStone team. Her business acumen and diverse experience across many disciplines which, in particular, involves mining throughout West Africa, will be a great asset to assist the Company in building value from proposition through to mining and production and bringing shareholder value to the Company."
http://www.moneyam.com/action/news/showArticle?id=5757240
banjomick
- 11 Dec 2017 08:34
- 110 of 124
11 December 2017
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
PRELIMINARY IN-COUNTRY METALLURGICAL TEST WORK
GoldStone Resources Limited (AIM: GRL) is pleased to announce the results of preliminary metallurgical test work on the AK01 proposed North and South pits on the Akrokerri licence, which have returned encouraging results and indicate the potential for heap leach processing of the oxide mineralisation. The Company is conducting preliminary metallurgical test work on samples obtained from the recent trenching to establish a range of potential processes for the development of the project.
Highlights
• Column tests show the AK01 oxide zone is extremely amenable to both the heap leach and to the CIL gold recovery processes
• Gravity recovered gold of 14.8% and 25.4% in the North and South Pit samples respectively
• Gold extraction from the tailings produced by the gravity tests were 90.2% and 93.5% for the North and South pit samples respectively using bottle roll test work with carbon1
• Column leach testing indicates moderate cement requirements, with 8 kg/tonne ("kg/t") addition rate enhancing the leaching efficiency and yielding acceptable column slump levels2
• Column leach testing over a 30 day period resulted in recoveries of some 82.6% and 84.7% for the North and South pit samples respectively with cement addition of 8 kg/t
Notes:
1. Samples pulverised to all passing 75 microns prior to leaching by sodium-cyanide solution both with and without carbon in bottle roll tests over 24 hour periods.
2. 4.5% & 3.3% column height slump in the North and South pit sample columns respectively utilising 8 kg/t binder material addition.
***More via link below***
http://www.moneyam.com/action/news/showArticle?id=5775346
Goldstone's CEO, Emma Priestley commented:
"This preliminary test work on samples from the proposed pits is encouraging, showing that almost 90% of the recoverable gold via the heap leach method is achieved within the first 15 days of leaching. This indicates that a scale up to mine operation would be very successful. Whilst we are currently maintaining a bias towards oxide material, we are also maintaining focus to exploit the development of the higher grade sulphide zone."
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
PRELIMINARY IN-COUNTRY METALLURGICAL TEST WORK
GoldStone Resources Limited (AIM: GRL) is pleased to announce the results of preliminary metallurgical test work on the AK01 proposed North and South pits on the Akrokerri licence, which have returned encouraging results and indicate the potential for heap leach processing of the oxide mineralisation. The Company is conducting preliminary metallurgical test work on samples obtained from the recent trenching to establish a range of potential processes for the development of the project.
Highlights
• Column tests show the AK01 oxide zone is extremely amenable to both the heap leach and to the CIL gold recovery processes
• Gravity recovered gold of 14.8% and 25.4% in the North and South Pit samples respectively
• Gold extraction from the tailings produced by the gravity tests were 90.2% and 93.5% for the North and South pit samples respectively using bottle roll test work with carbon1
• Column leach testing indicates moderate cement requirements, with 8 kg/tonne ("kg/t") addition rate enhancing the leaching efficiency and yielding acceptable column slump levels2
• Column leach testing over a 30 day period resulted in recoveries of some 82.6% and 84.7% for the North and South pit samples respectively with cement addition of 8 kg/t
Notes:
1. Samples pulverised to all passing 75 microns prior to leaching by sodium-cyanide solution both with and without carbon in bottle roll tests over 24 hour periods.
2. 4.5% & 3.3% column height slump in the North and South pit sample columns respectively utilising 8 kg/t binder material addition.
***More via link below***
http://www.moneyam.com/action/news/showArticle?id=5775346
Goldstone's CEO, Emma Priestley commented:
"This preliminary test work on samples from the proposed pits is encouraging, showing that almost 90% of the recoverable gold via the heap leach method is achieved within the first 15 days of leaching. This indicates that a scale up to mine operation would be very successful. Whilst we are currently maintaining a bias towards oxide material, we are also maintaining focus to exploit the development of the higher grade sulphide zone."
banjomick
- 19 Jan 2018 11:04
- 111 of 124
19 January 2018
GOLDSTONE RESOURCES LIMITED
Potential to revitalise the old Akrokeri mine
GoldStone Resources Limited (AIM: GRL), is pleased to announce that as part of the review of historical data, the Company has initiated a project to potentially revitalise the old Akrokeri underground mine ("Akrokeri Mine" or "Mine").
The Akrokeri Mine is situated within the Akrokeri prospecting licence, approximate 1.5 km south of the proposed AK01 South pits, shown in Figure 1. It is recorded by the Ghanaian Minerals Commission that the Akrokeri Mine produced some 75,000 ounces of gold between 1904 and 1909, from about 104,000 tons (94,347 tonnes) of ore, equating to a recovered grade of about 0.73 ozs/t, equivalent to 24g/t. However, the mine closed in 1909, due to a high inflow of water.
The Mine was developed from two shafts 1,400 feet (426.7 metres) apart, to a maximum depth of some 500 feet (152.4 metres) vertical. The gold bearing quartz vein was recorded as being about 4 feet (1.2 metres) in width and produced free milling non-refractory ore. It is situated within the sediments near the contact of a suite of greywackes/ phyllites and the Akrokeri granite.
Two drilling campaigns were undertaken by Birim Goldfields Ltd ("Birim") in 1996, comprising nine Diamond Drill holes totalling 2,000 metres and, Pan African Resources Ltd ("Pan African Resources") in 2008, comprising 10 Diamond Drill holes totalling some 3,200 metres. These holes were located north and south of Akrokeri town along the known quartz vein. From the historic data, it is recorded that the drilling encountered unknown narrow high grade quartz veins within the granite, with samples up to 51g/t. This indicates the potential of a high grade deposit within the entire contact zone (both within the sediments and the granite).
The review of data and assets in 2017 highlighted that the core was incomplete in the Company's core shed housed at site. GoldStone has managed to locate the entire 5,200 metres of core drilled by Birim and Pan African Resources and has relocated it to its core shed, and re-logging is currently underway and, if appropriate, further assaying of the core may be undertaken.
GoldStone is currently reviewing the possibility of opening up the old underground workings at the Akrokeri Mine, to explore the potential mineralised zones along strike extensions and within the old workings, as substantial areas remain untested.
The GoldStone team is continuously examining the historical data for the Homase/Akrokeri mineralised zone, which is opening up new areas to re-assess, as exemplified here.
Figure 1: Location of the Akrokeri Mine
http://www.rns-pdf.londonstockexchange.com/rns/3290C_-2018-1-18.pdf
Emma Priestley, Chief Executive Officer of GoldStone, commented:
"GoldStone continues to review all the historical data for its licences and this has lead to the re-examination of the former mine which we are really excited about. There is a huge opportunity to find and exploit an existing resource and also expand on these resources, not to mention the huge value in the existing infrastructure and underground development."
http://www.moneyam.com/action/news/showArticle?id=5822008
GOLDSTONE RESOURCES LIMITED
Potential to revitalise the old Akrokeri mine
GoldStone Resources Limited (AIM: GRL), is pleased to announce that as part of the review of historical data, the Company has initiated a project to potentially revitalise the old Akrokeri underground mine ("Akrokeri Mine" or "Mine").
The Akrokeri Mine is situated within the Akrokeri prospecting licence, approximate 1.5 km south of the proposed AK01 South pits, shown in Figure 1. It is recorded by the Ghanaian Minerals Commission that the Akrokeri Mine produced some 75,000 ounces of gold between 1904 and 1909, from about 104,000 tons (94,347 tonnes) of ore, equating to a recovered grade of about 0.73 ozs/t, equivalent to 24g/t. However, the mine closed in 1909, due to a high inflow of water.
The Mine was developed from two shafts 1,400 feet (426.7 metres) apart, to a maximum depth of some 500 feet (152.4 metres) vertical. The gold bearing quartz vein was recorded as being about 4 feet (1.2 metres) in width and produced free milling non-refractory ore. It is situated within the sediments near the contact of a suite of greywackes/ phyllites and the Akrokeri granite.
Two drilling campaigns were undertaken by Birim Goldfields Ltd ("Birim") in 1996, comprising nine Diamond Drill holes totalling 2,000 metres and, Pan African Resources Ltd ("Pan African Resources") in 2008, comprising 10 Diamond Drill holes totalling some 3,200 metres. These holes were located north and south of Akrokeri town along the known quartz vein. From the historic data, it is recorded that the drilling encountered unknown narrow high grade quartz veins within the granite, with samples up to 51g/t. This indicates the potential of a high grade deposit within the entire contact zone (both within the sediments and the granite).
The review of data and assets in 2017 highlighted that the core was incomplete in the Company's core shed housed at site. GoldStone has managed to locate the entire 5,200 metres of core drilled by Birim and Pan African Resources and has relocated it to its core shed, and re-logging is currently underway and, if appropriate, further assaying of the core may be undertaken.
GoldStone is currently reviewing the possibility of opening up the old underground workings at the Akrokeri Mine, to explore the potential mineralised zones along strike extensions and within the old workings, as substantial areas remain untested.
The GoldStone team is continuously examining the historical data for the Homase/Akrokeri mineralised zone, which is opening up new areas to re-assess, as exemplified here.
Figure 1: Location of the Akrokeri Mine
http://www.rns-pdf.londonstockexchange.com/rns/3290C_-2018-1-18.pdf
Emma Priestley, Chief Executive Officer of GoldStone, commented:
"GoldStone continues to review all the historical data for its licences and this has lead to the re-examination of the former mine which we are really excited about. There is a huge opportunity to find and exploit an existing resource and also expand on these resources, not to mention the huge value in the existing infrastructure and underground development."
http://www.moneyam.com/action/news/showArticle?id=5822008
banjomick
- 25 Jan 2018 10:06
- 112 of 124
25 January 2018
GOLDSTONE RESOURCES LIMITED
Initiating GeoChemical Soil Sampling over Homase and Akrokeri
GoldStone Resources Limited (AIM: GRL) is pleased to announce that a geochemical soil sampling programme has started within the Homase and Akrokeri Licence areas (the "Licences"). This is being done to confirm known mineralization and anomalies in the area and also to extend the potential of the mineable material outside of the known resource.
Historical exploration of the Licences included Magnetic and Radiometric conductivity (VTEM) and Chargeability (IP) geophysical surveys, soil and outcrop sampling. The existence of gold anomalous areas resulting from the analysis of the historical samples suggest the existence of possible prospective areas as highlighted in Figure 1 below. In addition, artisanal mining activities targeting some NE-SW quartz vein fractures have been carried out around the old Akrokeri mine.
Approximately 6,000 samples, including those for quality control, over six target areas (See Figure 1 below), will be collected and assayed and the results reviewed for prospective anomalies. Sampling will be undertaken over a grid spacing of 50 metres by 20 metres. These are high priority exploration targets and if any soil sampling proves successful, detailed trenching and drilling will be considered.
As part of the soil sampling programme, and to reduce the costs of employing third party preparation, GoldStone has built a sample preparation facility at site for the preparation of the collected soil samples. A supervisor and foreman who previously worked at the AngloGold Ashanti laboratory in Obuasi have been employed to manage this facility.
Figure 1: Plan of the Six Target Areas for Soil GeoChem within the Licences
http://www.rns-pdf.londonstockexchange.com/rns/8493C_-2018-1-24.pdf
Emma Priestley, Chief Executive Officer of GoldStone, commented:
"We are very pleased to confirm a number of anomalies and structures throughout the Licences that we consider are worthy of this cost effective soil sampling programme, which will test the near-surface potential of these areas for additional oxides."
http://www.moneyam.com/action/news/showArticle?id=5829285
GOLDSTONE RESOURCES LIMITED
Initiating GeoChemical Soil Sampling over Homase and Akrokeri
GoldStone Resources Limited (AIM: GRL) is pleased to announce that a geochemical soil sampling programme has started within the Homase and Akrokeri Licence areas (the "Licences"). This is being done to confirm known mineralization and anomalies in the area and also to extend the potential of the mineable material outside of the known resource.
Historical exploration of the Licences included Magnetic and Radiometric conductivity (VTEM) and Chargeability (IP) geophysical surveys, soil and outcrop sampling. The existence of gold anomalous areas resulting from the analysis of the historical samples suggest the existence of possible prospective areas as highlighted in Figure 1 below. In addition, artisanal mining activities targeting some NE-SW quartz vein fractures have been carried out around the old Akrokeri mine.
Approximately 6,000 samples, including those for quality control, over six target areas (See Figure 1 below), will be collected and assayed and the results reviewed for prospective anomalies. Sampling will be undertaken over a grid spacing of 50 metres by 20 metres. These are high priority exploration targets and if any soil sampling proves successful, detailed trenching and drilling will be considered.
As part of the soil sampling programme, and to reduce the costs of employing third party preparation, GoldStone has built a sample preparation facility at site for the preparation of the collected soil samples. A supervisor and foreman who previously worked at the AngloGold Ashanti laboratory in Obuasi have been employed to manage this facility.
Figure 1: Plan of the Six Target Areas for Soil GeoChem within the Licences
http://www.rns-pdf.londonstockexchange.com/rns/8493C_-2018-1-24.pdf
Emma Priestley, Chief Executive Officer of GoldStone, commented:
"We are very pleased to confirm a number of anomalies and structures throughout the Licences that we consider are worthy of this cost effective soil sampling programme, which will test the near-surface potential of these areas for additional oxides."
http://www.moneyam.com/action/news/showArticle?id=5829285
banjomick
- 18 May 2018 08:23
- 113 of 124
18 May 2018
GOLDSTONE RESOURCES LIMITED
Renewal of prospecting licences
GoldStone Resources Limited (AIM: GRL) is pleased to announce that the extension for the prospecting licences in respect of the Homase-Akrokeri project in Ghana has been received.
The Company's wholly owned subsidiary GoldStone Akrokeri Limited ("GAL"), has been notified of the renewal of GAL's prospecting licence, PL6/87, in the Ashanti Region of Ghana for an extended period through to April 2020. This licence incorporates the Akrokerri project, in which the Company has a 100% interest.
The Company has been notified by Cherry Hill Mining Company Limited, that its prospecting licence, RL6/96, has also been extended until April 2020. This licence incorporates the Homase project, in which the Company has a 90% interest.
Emma Priestley, Chief Executive Officer of GoldStone, commented:
"We are very pleased to have received these renewals, and especially for an extended period, demonstrating our commitment to advancing the Homase-Akrokeri project. We are expecting to update the market in the next few weeks on the results from the large scale soil sampling programme that has been on-going. These results, together with the renewal and extension of our prospecting licences demonstrate management's commitment to developing a long-term growth strategy and add real shareholder value."
http://www.moneyam.com/action/news/showArticle?id=5976158
GOLDSTONE RESOURCES LIMITED
Renewal of prospecting licences
GoldStone Resources Limited (AIM: GRL) is pleased to announce that the extension for the prospecting licences in respect of the Homase-Akrokeri project in Ghana has been received.
The Company's wholly owned subsidiary GoldStone Akrokeri Limited ("GAL"), has been notified of the renewal of GAL's prospecting licence, PL6/87, in the Ashanti Region of Ghana for an extended period through to April 2020. This licence incorporates the Akrokerri project, in which the Company has a 100% interest.
The Company has been notified by Cherry Hill Mining Company Limited, that its prospecting licence, RL6/96, has also been extended until April 2020. This licence incorporates the Homase project, in which the Company has a 90% interest.
Emma Priestley, Chief Executive Officer of GoldStone, commented:
"We are very pleased to have received these renewals, and especially for an extended period, demonstrating our commitment to advancing the Homase-Akrokeri project. We are expecting to update the market in the next few weeks on the results from the large scale soil sampling programme that has been on-going. These results, together with the renewal and extension of our prospecting licences demonstrate management's commitment to developing a long-term growth strategy and add real shareholder value."
http://www.moneyam.com/action/news/showArticle?id=5976158
banjomick
- 07 Jun 2018 09:39
- 114 of 124
07 June 2018
GOLDSTONE RESOURCES LIMITED
High Gold Grades of 51.01g/t, 24.80 g/t & 17.72 g/t Confirmed
Following Review and Re-logging of Akrokeri Core
GoldStone Resources Limited (AIM: GRL) is pleased to report, further to the Company's announcement of 19 January 2018, the confirmation of high-grade gold intersections following the completion of the review and re-logging of historic diamond core ("DD") holes drilled under or adjacent to the previously producing Akrokeri underground gold mine ("Akrokeri Mine" or the "Mine").
Overview
· Mineralised intercepts of up to 1.0 metre at 51.01 g/t Au confirmed in re-logged diamond core from below and adjacent to the Akrokeri Mine, which previously produced 75,000 oz Au at a final recovered average grade of 0.73 ozs/t, equivalent to approximately 24 g/t
· Two further DD holes identified from 2012, indicating gold bearing quartz intersections in the footwall of the Mine
· Assaying of four of the historic DD holes to the south of the Mine to be undertaken
· The Akrokeri Mine is 12 km along strike to the north of AngloGold Ashanti's Obuasi Gold Mine, one of the world's major gold mines with a total historical and current resource in excess of 70 million ounces of gold
· Defined work programme being finalised to re-open the Akrokeri Mine, targeting gold production within 24 months
· The Akrokeri Mine, together with the Homase pit, provides two highly prospective targets within GoldStone's licences
Emma Priestley, CEO of GoldStone, commented:
"Grades of up to 51.01 g/t gold are remarkable and together with completion of the review and re-logging process, we are very excited about the opportunity and believe it warrants the acceleration of development and the ultimate reopening of the Akrokeri underground mine. Management is focused on identifying the most economic and timely route to production, which we believe can be achieved within 24 months.
"Together with the highly encouraging Homase pit target area and the regional geology which hosts one of the world's largest gold mines, management believe we have a truly exciting development opportunity at the Akrokeri Mine.
"I look forward to keeping shareholders updated as we seek to accelerate the development of GoldStone into becoming a gold producer."
Further Information***via link below**
http://www.moneyam.com/action/news/showArticle?id=6002021
GOLDSTONE RESOURCES LIMITED
High Gold Grades of 51.01g/t, 24.80 g/t & 17.72 g/t Confirmed
Following Review and Re-logging of Akrokeri Core
GoldStone Resources Limited (AIM: GRL) is pleased to report, further to the Company's announcement of 19 January 2018, the confirmation of high-grade gold intersections following the completion of the review and re-logging of historic diamond core ("DD") holes drilled under or adjacent to the previously producing Akrokeri underground gold mine ("Akrokeri Mine" or the "Mine").
Overview
· Mineralised intercepts of up to 1.0 metre at 51.01 g/t Au confirmed in re-logged diamond core from below and adjacent to the Akrokeri Mine, which previously produced 75,000 oz Au at a final recovered average grade of 0.73 ozs/t, equivalent to approximately 24 g/t
· Two further DD holes identified from 2012, indicating gold bearing quartz intersections in the footwall of the Mine
· Assaying of four of the historic DD holes to the south of the Mine to be undertaken
· The Akrokeri Mine is 12 km along strike to the north of AngloGold Ashanti's Obuasi Gold Mine, one of the world's major gold mines with a total historical and current resource in excess of 70 million ounces of gold
· Defined work programme being finalised to re-open the Akrokeri Mine, targeting gold production within 24 months
· The Akrokeri Mine, together with the Homase pit, provides two highly prospective targets within GoldStone's licences
Emma Priestley, CEO of GoldStone, commented:
"Grades of up to 51.01 g/t gold are remarkable and together with completion of the review and re-logging process, we are very excited about the opportunity and believe it warrants the acceleration of development and the ultimate reopening of the Akrokeri underground mine. Management is focused on identifying the most economic and timely route to production, which we believe can be achieved within 24 months.
"Together with the highly encouraging Homase pit target area and the regional geology which hosts one of the world's largest gold mines, management believe we have a truly exciting development opportunity at the Akrokeri Mine.
"I look forward to keeping shareholders updated as we seek to accelerate the development of GoldStone into becoming a gold producer."
Further Information***via link below**
http://www.moneyam.com/action/news/showArticle?id=6002021
banjomick
- 14 Jun 2018 09:40
- 115 of 124
14 June 2018
GOLDSTONE RESOURCES LIMITED
Geological Managers Appointed to Accelerate Development at Akrokeri-Homase
GoldStone Resources Limited (AIM: GRL) is pleased to announce the appointment of SEMS Exploration Services Limited ("SEMS") of Accra, Ghana as Geological Manager of the Company's Akrokeri-Homase project ("AKHM" or "Project") in the Ashanti Region of Ghana. SEMS is charged with designing and implementing the development of the Project with the objective of reopening the Akrokeri underground mine, extending the Homase open pit and delivering first gold production within 24 months.
SEMS has contributed to the development of the Project for many years, with the founder and owner of SEMS, Simon Meadows Smith, originally having discovered the Homase deposit in 1998 with Dominion Mining Ltd. Simon Meadows Smith later sold the project to Ashanti Goldfields Corporation ("Ashanti Goldfields") which developed a shallow open pit which produced 52,000 oz gold at 2.5g/t. Ashanti Goldfields later merged with AngloGold to form AngloGold Ashanti Limited ("ASA"), which is developing the Obuasi Gold Mine, one of the world's major gold mines with a total historical and current resource in excess of 70 million ounces of gold located 12km along strike from the Akrokeri underground mine.
With its long association with the Project, and expertise in the gold exploration and mining industry, the Board believes SEMS is well qualified to serve as the Company's Geological Manager.
SEMS will assess results from the recently completed soil sampling programme that has tested exploration targets along the Homase trend. In addition, they will review historic data including production and drilling results from the Akrokeri Mine, which produced 75,000 oz Au at an average grade of 24g/t in the early 1900's, as well as the production records of ASA's mining operations at Homase from 2001 to 2003. In addition, SEMS has its own geological and technical assessments from studies completed on the project since its discovery in 1998. Once an exploration and development programme for the Project has been approved by the board, SEMS will oversee ground exploration activity.
***More via link below** *
http://www.moneyam.com/action/news/showArticle?id=6011505
GOLDSTONE RESOURCES LIMITED
Geological Managers Appointed to Accelerate Development at Akrokeri-Homase
GoldStone Resources Limited (AIM: GRL) is pleased to announce the appointment of SEMS Exploration Services Limited ("SEMS") of Accra, Ghana as Geological Manager of the Company's Akrokeri-Homase project ("AKHM" or "Project") in the Ashanti Region of Ghana. SEMS is charged with designing and implementing the development of the Project with the objective of reopening the Akrokeri underground mine, extending the Homase open pit and delivering first gold production within 24 months.
SEMS has contributed to the development of the Project for many years, with the founder and owner of SEMS, Simon Meadows Smith, originally having discovered the Homase deposit in 1998 with Dominion Mining Ltd. Simon Meadows Smith later sold the project to Ashanti Goldfields Corporation ("Ashanti Goldfields") which developed a shallow open pit which produced 52,000 oz gold at 2.5g/t. Ashanti Goldfields later merged with AngloGold to form AngloGold Ashanti Limited ("ASA"), which is developing the Obuasi Gold Mine, one of the world's major gold mines with a total historical and current resource in excess of 70 million ounces of gold located 12km along strike from the Akrokeri underground mine.
With its long association with the Project, and expertise in the gold exploration and mining industry, the Board believes SEMS is well qualified to serve as the Company's Geological Manager.
SEMS will assess results from the recently completed soil sampling programme that has tested exploration targets along the Homase trend. In addition, they will review historic data including production and drilling results from the Akrokeri Mine, which produced 75,000 oz Au at an average grade of 24g/t in the early 1900's, as well as the production records of ASA's mining operations at Homase from 2001 to 2003. In addition, SEMS has its own geological and technical assessments from studies completed on the project since its discovery in 1998. Once an exploration and development programme for the Project has been approved by the board, SEMS will oversee ground exploration activity.
***More via link below** *
http://www.moneyam.com/action/news/showArticle?id=6011505
banjomick
- 20 Jun 2018 09:41
- 116 of 124
20 June 2018
GOLDSTONE RESOURCES LIMITED
Gold anomaly of over 8km identified at Akrokeri-Homase Project
GoldStone Resources Limited (AIM: GRL), is pleased to announce the identification of a >8 km gold-in-soil anomaly at its Akrokeri-Homase Gold Project ("AKHM" or the "Project"), located 12 km along strike from AngloGold Ashanti's +70 million ounce Obuasi Gold Mine in South-West Ghana.
The >8 km gold-in-soil anomaly, which runs from the historic Akrokeri underground mine ("Akrokeri Mine") to north of the Homase open pit ("Homase Pit"), see Figure 1 below, has been identified following a review of the results from the recent geochemical soil sampling programme (announced 25 January 2018) ("2018 Soil Programme") and historic field work.
Overview
· >8 km gold-in-soil anomaly identified following the review of results for the 2018 Soil Programme and historic data
· Gold anomaly contains the historic Akrokeri Mine and the Homase Pit, as well as demonstrating along strike extensions to both mines
· Historic trenching indicates high grade gold mineralisation, including 15.0 metres @ 6.31 g/t Au which includes 4.5 metres @ 18.23 g/t Au from a trench in the Homase North Resource Zone
· Scoping study commenced to better define the oxide resource potential of the >8 km Homase Mineralised Trend ("Homase Trend") to the north and south of the Homase Pit
· 2018 Soil Programme has also defined a gold in soil anomaly for 2.4 km south of the Akrokeri Mine
· Parallel mineralised gold structures also delineated, which may provide further mineral resource upside potential following evaluation work
GoldStone's Chief Executive Officer, Emma Priestley, commented:
"The potential size, scale and grades at our AKHM continue to improve, providing significant support for our recently implemented strategy to commence commercial gold production within two years.
"These results of the 2018 Soil Programme, when combined with historic data, significantly upgrade the prospectivity of the Project and enhance our understanding of the exciting potential of AKHM to contain significant gold mineralised zones. In particular, the Homase North Resource Zone and the zone between the Homase Pit and the Akrokeri Mine now represent two very strong and consistent anomalous areas with significant potential for high grade oxide resources.
"We have commenced a scoping study to evaluate the potential of these oxide zones along the Homase Trend and we look forward to providing further updates in the months ahead."
http://www.moneyam.com/action/news/showArticle?id=6019029
GOLDSTONE RESOURCES LIMITED
Gold anomaly of over 8km identified at Akrokeri-Homase Project
GoldStone Resources Limited (AIM: GRL), is pleased to announce the identification of a >8 km gold-in-soil anomaly at its Akrokeri-Homase Gold Project ("AKHM" or the "Project"), located 12 km along strike from AngloGold Ashanti's +70 million ounce Obuasi Gold Mine in South-West Ghana.
The >8 km gold-in-soil anomaly, which runs from the historic Akrokeri underground mine ("Akrokeri Mine") to north of the Homase open pit ("Homase Pit"), see Figure 1 below, has been identified following a review of the results from the recent geochemical soil sampling programme (announced 25 January 2018) ("2018 Soil Programme") and historic field work.
Overview
· >8 km gold-in-soil anomaly identified following the review of results for the 2018 Soil Programme and historic data
· Gold anomaly contains the historic Akrokeri Mine and the Homase Pit, as well as demonstrating along strike extensions to both mines
· Historic trenching indicates high grade gold mineralisation, including 15.0 metres @ 6.31 g/t Au which includes 4.5 metres @ 18.23 g/t Au from a trench in the Homase North Resource Zone
· Scoping study commenced to better define the oxide resource potential of the >8 km Homase Mineralised Trend ("Homase Trend") to the north and south of the Homase Pit
· 2018 Soil Programme has also defined a gold in soil anomaly for 2.4 km south of the Akrokeri Mine
· Parallel mineralised gold structures also delineated, which may provide further mineral resource upside potential following evaluation work
GoldStone's Chief Executive Officer, Emma Priestley, commented:
"The potential size, scale and grades at our AKHM continue to improve, providing significant support for our recently implemented strategy to commence commercial gold production within two years.
"These results of the 2018 Soil Programme, when combined with historic data, significantly upgrade the prospectivity of the Project and enhance our understanding of the exciting potential of AKHM to contain significant gold mineralised zones. In particular, the Homase North Resource Zone and the zone between the Homase Pit and the Akrokeri Mine now represent two very strong and consistent anomalous areas with significant potential for high grade oxide resources.
"We have commenced a scoping study to evaluate the potential of these oxide zones along the Homase Trend and we look forward to providing further updates in the months ahead."
http://www.moneyam.com/action/news/showArticle?id=6019029
banjomick
- 09 Jul 2018 11:26
- 117 of 124
9 July 2018
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Ghanaian Government Positive on Obuasi Development
GoldStone Resources Limited (AIM: GRL), which is seeking to bring the Akrokeri-Homase Gold Project ("AKHM" or the "Project") in the Ashanti Region of Ghana back into production, notes that AngloGold Ashanti Limited (JSE: ANG, NYSE: AU) ("AngloGold") has received environmental permits for its historic and current 70 million ounce Obuasi Gold Mine ("Obuasi Mine"), located c.8km along strike from AKHM. The granting of the permits by Ghana's Environmental Protection Agency follows the Parliamentary ratifications of the regulatory and fiscal agreements that cover the redevelopment of the Obuasi Mine. The decision highlights the in-country support for the redevelopment of goldmines and underpins the pro-mining environment in Ghana and in particular the highly prospective Obuasi district within the Ashanti Gold Belt.
The Ghanaian Government decision follows AngloGold's approval in February 2018 that they are committed to spending US$31 million for front-end engineering and other preparatory work as part of their US$500 million investment for the redevelopment of the high-grade Obuasi Mine. The Company believes that the Obuasi Mine and its development plans underpin the significant potential of the Project. AKHM contains two historic gold mines: the high-grade Akrokeri underground mine which produced approximately 75,000 oz Au at a final recovered average grade of 24 g/t, and the Homase open pit, a shallow oxide deposit which previously produced 52,000 oz Au at a final recovered average grade of 2.5g/t. The Company is actively looking to bring the Project back into production with the support of its two major shareholders, Paracale Gold Ltd, a mining investment specialist, and BCM International Ltd, one of Africa's largest private contract miners.
Emma Priestley, CEO of GoldStone said, "I am currently in Ghana and there is significant interest in the development of mining opportunities. With the news of the Obuasi Mine getting Governmental support and AngloGold committing over US$500 million funds, we are highly encouraged by the local and national operational environment of our AKHM Project as we seek to progress towards production within two years.
"We have an extremely high-grade project which keeps on giving; on top of the historical production grades of 24 g/t Au, we have recently identified 8km of strike of which 4km houses the 602,000 oz Au JORC resource which highlights the significant potential of the Project.
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Ghanaian Government Positive on Obuasi Development
GoldStone Resources Limited (AIM: GRL), which is seeking to bring the Akrokeri-Homase Gold Project ("AKHM" or the "Project") in the Ashanti Region of Ghana back into production, notes that AngloGold Ashanti Limited (JSE: ANG, NYSE: AU) ("AngloGold") has received environmental permits for its historic and current 70 million ounce Obuasi Gold Mine ("Obuasi Mine"), located c.8km along strike from AKHM. The granting of the permits by Ghana's Environmental Protection Agency follows the Parliamentary ratifications of the regulatory and fiscal agreements that cover the redevelopment of the Obuasi Mine. The decision highlights the in-country support for the redevelopment of goldmines and underpins the pro-mining environment in Ghana and in particular the highly prospective Obuasi district within the Ashanti Gold Belt.
The Ghanaian Government decision follows AngloGold's approval in February 2018 that they are committed to spending US$31 million for front-end engineering and other preparatory work as part of their US$500 million investment for the redevelopment of the high-grade Obuasi Mine. The Company believes that the Obuasi Mine and its development plans underpin the significant potential of the Project. AKHM contains two historic gold mines: the high-grade Akrokeri underground mine which produced approximately 75,000 oz Au at a final recovered average grade of 24 g/t, and the Homase open pit, a shallow oxide deposit which previously produced 52,000 oz Au at a final recovered average grade of 2.5g/t. The Company is actively looking to bring the Project back into production with the support of its two major shareholders, Paracale Gold Ltd, a mining investment specialist, and BCM International Ltd, one of Africa's largest private contract miners.
Emma Priestley, CEO of GoldStone said, "I am currently in Ghana and there is significant interest in the development of mining opportunities. With the news of the Obuasi Mine getting Governmental support and AngloGold committing over US$500 million funds, we are highly encouraged by the local and national operational environment of our AKHM Project as we seek to progress towards production within two years.
"We have an extremely high-grade project which keeps on giving; on top of the historical production grades of 24 g/t Au, we have recently identified 8km of strike of which 4km houses the 602,000 oz Au JORC resource which highlights the significant potential of the Project.
banjomick
- 10 Jul 2018 08:17
- 118 of 124
10 July 2018
GOLDSTONE RESOURCES LIMITED
Operational Update on High Grade Akrokeri Mine
and Scoping Study & EIS Underway
GoldStone Resources Limited (AIM: GRL), is pleased to update the market on the progress of activities at its Akrokeri-Homase Gold Project ("AKHM" or "the Project") in the Ashanti Region of Ghana. This includes sinking a new shaft to access the historic high grade Akrokeri underground gold mine ("Akrokeri Mine" or "Mine"), one of two previously producing operations at AKHM, to enable the Company to complete a geological assessment of the Mine. The Akrokeri Mine is located approximately 6 km along strike from one of the world's major gold mines, AngloGold Ashanti's ("AngloGold") Obuasi Mine, which has a total historical and current resource in excess of 70 million ounces of gold.
Highlights:
· New 'Norton' shaft (the "Norton Shaft") is being sunk 40 metres east of the historic North Shaft at the Akrokeri Mine to a target depth of 30 metres
· The Norton Shaft is intended to provide
o access to the mineralised zone at the Mine, which produced 75,000 ounces of gold in the early 1900s at a recovered average grade of 24 g/t Au
o access to the old mine workings, which were fully operational until an ingress of water in 1909
o valuable geological information and allow the extraction of samples for test work
· Initiated bulk sample programme along the Homase Trend
· Commencement of an environment baseline assessment to support onward development at AKHM, ahead of intended production within two years
Emma Priestley, CEO of GoldStone, commented:
"This update is a culmination of the previous six month's work, that for the first time includes the collation and review of information from all historic exploration, drilling and mining activities across the Project, which we believe reinforces AKHM's prospectivity and upside potential.
"We are extremely excited by the opportunities at AKHM, including several new targets identified during the review, being the Akrokeri Mine, the potential for further pits along the Homase Trend that includes the Homase Pit, which was mined by AngloGold in 2002/3 at a recovered grade of 2.5 g/t Au, and additional parallel zones.
"With Ghana's Parliament recently ratifying the regulatory and fiscal agreements for the redevelopment of our neighbour, the Obuasi Gold Mine, and the issuing of their environmental permit, the attitude in Ghana towards mining is increasingly positive, reinforcing the backdrop to our strategy of rapidly advancing the Project and achieving production within two years.
"I am currently in Ghana with the management team, planning the next stages of our development and how to optimise the path to production to realise the intrinsic value of AKHM."
***More via link below***
http://www.moneyam.com/action/news/showArticle?id=6045518
GOLDSTONE RESOURCES LIMITED
Operational Update on High Grade Akrokeri Mine
and Scoping Study & EIS Underway
GoldStone Resources Limited (AIM: GRL), is pleased to update the market on the progress of activities at its Akrokeri-Homase Gold Project ("AKHM" or "the Project") in the Ashanti Region of Ghana. This includes sinking a new shaft to access the historic high grade Akrokeri underground gold mine ("Akrokeri Mine" or "Mine"), one of two previously producing operations at AKHM, to enable the Company to complete a geological assessment of the Mine. The Akrokeri Mine is located approximately 6 km along strike from one of the world's major gold mines, AngloGold Ashanti's ("AngloGold") Obuasi Mine, which has a total historical and current resource in excess of 70 million ounces of gold.
Highlights:
· New 'Norton' shaft (the "Norton Shaft") is being sunk 40 metres east of the historic North Shaft at the Akrokeri Mine to a target depth of 30 metres
· The Norton Shaft is intended to provide
o access to the mineralised zone at the Mine, which produced 75,000 ounces of gold in the early 1900s at a recovered average grade of 24 g/t Au
o access to the old mine workings, which were fully operational until an ingress of water in 1909
o valuable geological information and allow the extraction of samples for test work
· Initiated bulk sample programme along the Homase Trend
· Commencement of an environment baseline assessment to support onward development at AKHM, ahead of intended production within two years
Emma Priestley, CEO of GoldStone, commented:
"This update is a culmination of the previous six month's work, that for the first time includes the collation and review of information from all historic exploration, drilling and mining activities across the Project, which we believe reinforces AKHM's prospectivity and upside potential.
"We are extremely excited by the opportunities at AKHM, including several new targets identified during the review, being the Akrokeri Mine, the potential for further pits along the Homase Trend that includes the Homase Pit, which was mined by AngloGold in 2002/3 at a recovered grade of 2.5 g/t Au, and additional parallel zones.
"With Ghana's Parliament recently ratifying the regulatory and fiscal agreements for the redevelopment of our neighbour, the Obuasi Gold Mine, and the issuing of their environmental permit, the attitude in Ghana towards mining is increasingly positive, reinforcing the backdrop to our strategy of rapidly advancing the Project and achieving production within two years.
"I am currently in Ghana with the management team, planning the next stages of our development and how to optimise the path to production to realise the intrinsic value of AKHM."
***More via link below***
http://www.moneyam.com/action/news/showArticle?id=6045518
banjomick
- 02 Aug 2018 08:41
- 119 of 124
2 August 2018
GOLDSTONE RESOURCES LIMITED
Visible Gold at Akrokeri-Homase Gold Project
GoldStone Resources Limited (AIM: GRL), the West-African focused gold developer which is fast-tracking development of its Akrokeri-Homase Gold Project ("AKHM" or "the Project") in the Ashanti Region of Ghana, is pleased to report visible gold from its on-going review of historic drill core. Drill core from both historically producing mines on AKHM, the Akrokeri Underground Mine and the Homase Open Pit, clearly show visible gold as demonstrated in the images which can be viewed using the following link: http://www.rns-pdf.londonstockexchange.com/rns/5309W_1-2018-8-1.pdf
Emma Priestley, CEO of GoldStone said, "We continue to advance development of the AKHM project with the intention of bringing it back into production within two years. Both the higher-grade underground mine at Akrokeri, which has reported historic recovered grades of up to 24g/t Au, and the open pit mine at Homase, which has a current JORC resource of 602,000 ounces of gold at an average grade of 1.77g/t, have visible gold in historic drill core. This reinforces our confidence in the wider mineralised potential of the Project, which is located just 8km along strike from one of the world's major gold mines - the Obuasi Gold Mine, which has a total gold endowment in excess of 70 million ounces of gold.
"We are understandably extremely excited about the consistently encouraging finds that we have experienced at AKHM, and we look forward to updating the market on progress as we complete our scoping study and move ever closer towards production."
http://www.moneyam.com/action/news/showArticle?id=6076093
GOLDSTONE RESOURCES LIMITED
Visible Gold at Akrokeri-Homase Gold Project
GoldStone Resources Limited (AIM: GRL), the West-African focused gold developer which is fast-tracking development of its Akrokeri-Homase Gold Project ("AKHM" or "the Project") in the Ashanti Region of Ghana, is pleased to report visible gold from its on-going review of historic drill core. Drill core from both historically producing mines on AKHM, the Akrokeri Underground Mine and the Homase Open Pit, clearly show visible gold as demonstrated in the images which can be viewed using the following link: http://www.rns-pdf.londonstockexchange.com/rns/5309W_1-2018-8-1.pdf
Emma Priestley, CEO of GoldStone said, "We continue to advance development of the AKHM project with the intention of bringing it back into production within two years. Both the higher-grade underground mine at Akrokeri, which has reported historic recovered grades of up to 24g/t Au, and the open pit mine at Homase, which has a current JORC resource of 602,000 ounces of gold at an average grade of 1.77g/t, have visible gold in historic drill core. This reinforces our confidence in the wider mineralised potential of the Project, which is located just 8km along strike from one of the world's major gold mines - the Obuasi Gold Mine, which has a total gold endowment in excess of 70 million ounces of gold.
"We are understandably extremely excited about the consistently encouraging finds that we have experienced at AKHM, and we look forward to updating the market on progress as we complete our scoping study and move ever closer towards production."
http://www.moneyam.com/action/news/showArticle?id=6076093
banjomick
- 25 Sep 2018 18:33
- 120 of 124
From this morning:
25 September 2018
New Corporate Presentation and Company Website
GoldStone Resources Limited (AIM: GRL), the West-African focused gold developer which is fast-tracking development of its Akrokeri-Homase Gold Project ("AKHM" or "the Project") in the Ashanti Region of Ghana, is pleased to announce that the Company's new corporate presentation can be found on the new GoldStone website at https://www.goldstoneresources.com/
25 September 2018
New Corporate Presentation and Company Website
GoldStone Resources Limited (AIM: GRL), the West-African focused gold developer which is fast-tracking development of its Akrokeri-Homase Gold Project ("AKHM" or "the Project") in the Ashanti Region of Ghana, is pleased to announce that the Company's new corporate presentation can be found on the new GoldStone website at https://www.goldstoneresources.com/
banjomick
- 27 Sep 2018 08:49
- 121 of 124
27 September 2018
GOLDSTONE RESOURCES LIMITED
Operational Update on High Grade Akrokeri Mine
GoldStone Resources Limited (AIM: GRL), is pleased to provide an update on activities at its Akrokeri-Homase Gold Project ("AKHM" or "the Project") in the Ashanti Region of Ghana.
A recent work programme has focussed on accessing the historic, high grade Akrokeri underground gold mine ("Akrokeri Mine" or "Mine"), one of two previously producing mines within AKHM, to enable the Company to commence an assessment of the Mine, which previously produced 75,000 ounces of gold at a recovered average grade of 24 g/t.
Overview
· Significant progress made at the high grade Akrokeri Mine where recently announced mineralised intercepts included 1.0 metre at 51.01 g/t Au
· Completion of the Norton Shaft at the Akrokeri Mine to a total targeted depth of 33 metres (the bottom 3 metres being allowed for a sump and pump station)
· Norton Shaft and existing historic North Shaft will be used as the two access points to the old workings which are expected to be within 8 metres to the south of the Norton Shaft
· Access made to old artisanal workings approximately 150 metres north of Norton shaft that sit along strike from the mineralised structure of the Akrokeri Mine
· Artisanal workings have opened up into shallow workings developed by the previous historic operator indicating that the mineralisation is more extensive than previously thought within the Akrokeri Mine vicinity
Emma Priestley, CEO of GoldStone, commented:
"These recent developments will support the future evaluation of the historic underground workings of the Akrokeri Mine, which produced 75,000 ounces of gold at a final recovered average grade of 24 g/t in the early part of the 20th century. Our assessment so far has indicated that the workings from both the former operator and artisanal miners are more extensive than previously thought and therefore, the mineralisation is too. We are looking forward to continuing our geological evaluation and extracting samples for test work. We are currently working hard in Ghana to progress both the scoping study for the proposed pits on the Homase Trend and related test work, and I look forward to keeping shareholders updated on our progress."
http://www.moneyam.com/action/news/showArticle?id=6144062
GOLDSTONE RESOURCES LIMITED
Operational Update on High Grade Akrokeri Mine
GoldStone Resources Limited (AIM: GRL), is pleased to provide an update on activities at its Akrokeri-Homase Gold Project ("AKHM" or "the Project") in the Ashanti Region of Ghana.
A recent work programme has focussed on accessing the historic, high grade Akrokeri underground gold mine ("Akrokeri Mine" or "Mine"), one of two previously producing mines within AKHM, to enable the Company to commence an assessment of the Mine, which previously produced 75,000 ounces of gold at a recovered average grade of 24 g/t.
Overview
· Significant progress made at the high grade Akrokeri Mine where recently announced mineralised intercepts included 1.0 metre at 51.01 g/t Au
· Completion of the Norton Shaft at the Akrokeri Mine to a total targeted depth of 33 metres (the bottom 3 metres being allowed for a sump and pump station)
· Norton Shaft and existing historic North Shaft will be used as the two access points to the old workings which are expected to be within 8 metres to the south of the Norton Shaft
· Access made to old artisanal workings approximately 150 metres north of Norton shaft that sit along strike from the mineralised structure of the Akrokeri Mine
· Artisanal workings have opened up into shallow workings developed by the previous historic operator indicating that the mineralisation is more extensive than previously thought within the Akrokeri Mine vicinity
Emma Priestley, CEO of GoldStone, commented:
"These recent developments will support the future evaluation of the historic underground workings of the Akrokeri Mine, which produced 75,000 ounces of gold at a final recovered average grade of 24 g/t in the early part of the 20th century. Our assessment so far has indicated that the workings from both the former operator and artisanal miners are more extensive than previously thought and therefore, the mineralisation is too. We are looking forward to continuing our geological evaluation and extracting samples for test work. We are currently working hard in Ghana to progress both the scoping study for the proposed pits on the Homase Trend and related test work, and I look forward to keeping shareholders updated on our progress."
http://www.moneyam.com/action/news/showArticle?id=6144062
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