Sangola, Senegal: Termite Mound Sampling Results

RNS Number : 7449M

Goldstone Resources Ltd

22 August 2011

 



GoldStone Resources Limited

("GoldStone" or the "Company")

Sangola - Senegal: Final Termite Mound Sampling Results

GoldStone Resources Ltd (AIM: GRL) the West and Central Africa focused gold exploration company, is pleased to announce the final termite mound sampling results for the Sangola permit in eastern Senegal.

Key Points

·     Sangola termite mound sampling yields three large and consistent gold anomalies

·     All three anomalies are located along the Main Transcurrent Shear Zone which also  controlled the formation of Randgold's 3.4 million ounce Massawa gold deposit further to the northeast

Dr. Hendrik Schloemann, GoldStone's Exploration Director, commented: "The fact that the discovered gold anomalies seem to be related to splays associated with a major gold-fertile shear zone is very encouraging because this geological setting is common for a number of gold deposits around the world.  The results of this sampling programme confirmed our view that the potential exists for significant gold discoveries in the Sangola permit area."

Background, Termite Mound Sampling and Results

The Company has now received assay results for all termite mound samples taken from the 471 km² Sangola permit area in eastern Senegal.  The location of the permit area is in the Kenieba Inlier of Birimian Formation where more than 30 Moz of gold have been discovered.  Samples were taken approximately every 100m from termite mounds along north-south trending lines 400m apart to detect any gold mineralisation in the underlying Birimian rocks.  Of the 8,150 samples taken, 650 samples had anomalous bulk leach extractable gold concentrations above 10 parts per billion ("ppb") and 33 samples had gold concentrations between 100 ppb and 259 ppb. 

The anomalous samples form three major elongated gold anomalies parallel and in close proximity to the Main Transcurrent Shear Zone ("MTZ") which controlled the formation of Randgold's 3.4 million ounce Massawa gold deposit further to the northeast.  The three anomalies each have strike lengths between four and six kilometres and seem to correlate with secondary structures which run parallel to the MTZ or splay off the MTZ.

Approval

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

Enquiries:

GoldStone Resources Limited	[phone]
Jurie Wessels / Hendrik Schloemann
Westhouse Securities Limited	[phone]
Tim Feather / Matthew Johnson
Optiva Securities Limited
Jason Robertson	[phone]
Jeremy King	[phone]
Walbrook PR	[phone]
Louise Mason Bob Huxford

 

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