Sangola Drill Results

RNS Number : 9452Q

Goldstone Resources Ltd

13 November 2012

 



GoldStone Resources Limited

("GoldStone" or the "Company")

Sangola Drill Results

GoldStone (AIM; GRL), the AIM quoted exploration company focused on gold exploration in West and Central Africa, is pleased to provide drill results for its Sangola project in Senegal.

Highlights:

·     Drilling results confirm gold mineralisation two kilometres to the south-west, along strike of the previously reported mineralisation in the central part of Thiabedji

·     Best gold intersects include 3 metres @ 2.4 g/t, 6 metres @ 0.9 g/t and 6 metres @ 0.6 g/t

Exploration Director Dr. Hendrik Schloemann commented: "These results confirm a bedrock gold source for the Thiabedji surface anomaly.  We believe that potential exists for additional higher grade zones in this gold system.  Follow-up exploration with deeper Reverse Circulation drilling will step out from the central part of the Thiabedji prospect where we achieved our best gold intercepts of up to 11.8 g/t."

The Company has received all outstanding assay results (1,468 samples) for its rotary air blast ("RAB") drilling programme over the six kilometre long Thiabedji prospect.  The results are for 125 holes drilled along 5 lines and a total of 3,876 metres in addition to the results for 293 drill holes (7,482 metres) previously reported.  Drill hole depths range from 6 metres to 50 metres, averaging at 31 metres.  The analyses were carried out by SGS Kayes in Mali using the fire assay method.  The lower limit of detection was reported to be 0.01 g/t gold.  Best gold intercepts are given in the table below.

Drill Hole	From (m)	To (m)	Width (m)	Au Grade (g/t)
SGRB0310	6	9	3	0.6
SGRB0361	9	12	3	0.5
SGRB0362	0	3	3	0.5
SGRB0374	24	30	6	0.6
SGRB0376	15	18	3	0.8
SGRB0394	9	15	6	0.9
SGRB0401	0	3	3	2.4
SGRB0409	15	18	3	0.6

The programme also yielded sixteen lower grade intersects between 0.1 g/t and 0.4 g/t gold ranging in width from 3 metres to 16 metres.  Notably, the results confirmed a bedrock gold source to the south-western portion of the six kilometre long surface anomaly.  Updated interpretations of the recently acquired airborne geophysical data indicate that the mineralised trend may follow a series of south-west plunging fold closures.  This geological model would allow for higher grade shoots to exist within the mineralised system. 

Our technical team also used the results of the airborne geophysical survey to update our permit scale geological map.  This work has led to the re-classification of rocks previously thought to be non-prospective dolerites into prospective Birimian age volcanic and sedimentary rocks.  First pass soil and termite mound sampling on a 400 metre by 100 metre grid and stream sediment sampling over these areas was completed during October.  A total of 570 samples have been received by the SGS laboratory in Kayes for gold analysis.

The exploration programme for 2013 includes RAB drilling of the untested Baraboye, Tiobo and Ibel prospects and Reverse Circulation drilling at Thiabedji to test for deeper gold mineralisation under the best RAB drilling results.

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
WH Ireland Limited	[phone]
Tim Feather
Nick Field
Optiva Securities Limited
Jason Robertson	[phone]
Jeremy King	[phone]

 

END

 

 

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