Application for Exploration P

RNS Number : 2949U

Goldstone Resources Ltd

13 May 2008

 



GOLDSTONE RESOURCES LTD

APPLICATION FOR EXPLORATION PERMITS

The Directors of GoldStone Resources Ltd ('GoldStone' or the 'Company') are pleased to announce that the Company has lodged applications for three gold exploration permits in Senegal, West Africa.  The applications are the result of positive research into the prospectivity, political stability and mining legislation of Senegal.

The Sangola (471 km2), Dindefelou (280 km2) and Velingara (575 km2) licences applied for all lie within the prospective Kenieba inlier of the Birimian Formation and are close to the border of Guinea. Two of the permit areas in question contain potential hydrothermal gold mineralization, whilst the third may contain palaeoplacer gold mineralization. The directors believe that these areas have not been explored using modern techniques and accordingly may hold the potential for new gold discoveries. Senegalese mining legislation provides for a processing period of six months from the date an exploration application is lodged.

APPROVAL

Dr Lawrie Minter, who holds a PhD in palaeoplacer sedimentology has reviewed and approved the content of this announcement.

Enquiries:

 

GoldStone Resources Ltd	00 27 21 794 4004
Nico van der Hoven (Chief Executive Officer)

 

Hanson Westhouse Limited	0113 246 2610
Tim Feather / Matthew Johnson

 

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