Homase Mine Update

Goldstone Resources Ltd

15 January 2025

 

15 January 2025

GOLDSTONE RESOURCES LIMITED

("Goldstone" or the "Company")

Homase Mine Update

Goldstone Resources Limited (AIM: GRL) is pleased to provide an update on production at the Homase Mine and heap leach operation in south-western Ghana ("Homase").

The production ramp up continues to advance, with a 48,000 tonnes per month of agglomerated stacked ore in November and December 2024, and this stacking rate is expected to be maintained over the coming months. The latest gold pour of 416 ounces of gold doré in respect of December 2024 production was completed on 10 January 2025 following the Presidential inauguration on 7 January 2025, with gold production expected to reach our 1,000 ounces per month target in Q1 2025.

The Company continues to focus on the progressing the civil engineering on the construction for Cells 6 and 7 for the continuation of the mining operations for the planned ramp up of production throughout 2025.

Emma Priestley, Chief Executive Officer, commented:

"We continue to make steady progress at Homase and our near-term objective of delivering 1,000 ounces of gold per month is within grasp.  Operations on site are developing well and the team is pleased with the mine performance.  We remain very optimistic about 2025 and we will keep the market updated regularly on our operations this year."

For further information, please contact:  

GoldStone Resources Limited
Emma Priestley	Tel: [phone]
Strand Hanson Limited
James Dance / James Bellman	Tel: [phone]
S. P. Angel Corporate Finance LLP
Ewan Leggat / Charlie Bouverat	Tel: [phone]
St Brides Partners Ltd Susie Geliher	Tel: [phone]

About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted mining and development company with projects in Ghana that range from grassroots exploration to production.

The Company is focused on developing the Akrokeri-Homase project in south-western Ghana, which hosts a JORC Code compliant 602,000oz gold resource at an average grade of 1.77 g/t. The existing resource is confined to a 4km zone of the Homase Trend, including Homase North, Homase Pit and Homase South.

The project hosts two former mines, the Akrokerri Ashanti Mine Ltd, which produced 75,000 oz gold at 24 g/t recovered grade in the early 1900s, and the Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,000 oz gold at 2.5 g/t recovered. Production is currently focussed on the Homase Mine however 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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