GeoChemical Soil Sampling over Homase and Akrokeri

RNS Number : 8493C

Goldstone Resources Ltd

25 January 2018

 

25 January 2018

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

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."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

For further information, please contact:

GoldStone Resources Limited
Emma Priestley	Tel: [phone]
Strand Hanson Limited
Richard Tulloch / James Bellman	Tel: [phone]
SI Capital Limited
Nick Emerson	Tel: [phone]

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About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted exploration company with projects in Ghana, Senegal, and Gabon that range from grassroots to advanced exploration.

The Company is focused on developing the Homase-Akrokeri project in south-western Ghana, which hosts an existing 602,000 oz gold JORC Code compliant resource at an average grade of 1.77g/t, along strike from 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.  It is the Company's intention to build a portfolio of high-quality gold projects in Ghana, with a particular focus on the highly prospective Ashanti Gold Belt.

 

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