DRILL RESULTS FROM THE HOMASE/AKROKERRI PROJECT

RNS Number : 3554B

Goldstone Resources Ltd

16 April 2012

 



GoldStone Resources Limited

DRILL RESULTS FROM THE HOMASE/AKROKERRI PROJECT

GoldStone Resources Ltd ("GoldStone" or the "Company"), the West and Central Africa focused gold exploration company, is pleased to announce the results of three new drill holes at the Homase/Akrokerri project, part of the Ashanti Gold Belt in Ghana.

Highlights:

·     Intersections include 6.4 metres at 3.8 g/t and 4.2 metres at 3.0 g/t

·     Known depth extent of the mineralisation extended to more than 150 metres. Previous drilling in this area had been shallow only

A summary of the drilling results is shown below:

Drill hole	From (m)	To (m)	Down Hole Width (m)	Gold grade (g/t)	True Width (m)
12HMRD001	187	201	14.0	3.8	6.4
Including			8.3	5.9	3.8
12HMRD002	211	225	14.0	1.6	9.3
12HMRD003	163	173	10.0	2.1	7.1
Including			6.0	3.0	4.2

All three drill holes have intersected the mineralisation between 150 metres and 175 metres below the surface and significantly, over 3 intervals, up to 250 metres north of the previously reported high-grade shoot, under the northern part of the Homase pit (see announcement dated 11 August 2011).  The results for 12HMRD001 suggest that a high-grade zone, previously only intersected to a depth of up to 100 metres, extends to at least 170 metres depth.  Each drill hole intersected the mineralisation at grades above the 1.42 g/t average grade of GoldStone's 405,600 ounce JORC compliant gold resource at Homase/Akrokerri and significantly deeper than any previous drilling.

The Company will continue to systematically test for continuation of mineralisation and the potential for additional high-grade shoots down-dip of the gold resource along its entire four kilometre strike length. 

Assay results are pending for six drill holes targeted at gold mineralisation along north-west trending structures in the Akrokerri granite and the high-grade Akrokerri quartz vein, as are four drill holes targeted at depth extensions of the Homase/Akrokerri gold resource.  Since June 2011, when the drilling programme at Homase commenced, 32 drill holes totalling 8,569 metres have been completed.

APPROVAL

Dr. Hendrik Schloemann, who holds a PhD in geology, has reviewed and approved the geological content of this announcement.

Enquiries
GoldStone Resources Limited	[phone]
Jurie Wessels / Hendrik Schloemann
Westhouse Securities Limited	[phone]
Martin Davison
Optiva Securities Limited
Jason Robertson	[phone]
Jeremy King	[phone]
Walbrook PR	[phone]
Louise Mason

 

END

 

 

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