Visible Gold at Akrokeri-Homase Gold Project

RNS Number : 5309W

Goldstone Resources Ltd

02 August 2018

 

2 August 2018

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

Visible Gold at Akrokeri-Homase Gold Project

GoldStone Resources Limited (AIM: GRL), the West-African focused gold developer which is fast-tracking development of its Akrokeri-Homase Gold Project ("AKHM" or "the Project") in the Ashanti Region of Ghana, is pleased to report visible gold from its on-going review of historic drill core.  Drill core from both historically producing mines on AKHM, the Akrokeri Underground Mine and the Homase Open Pit, clearly show visible gold as demonstrated in the images which can be viewed using the following link: http://www.rns-pdf.londonstockexchange.com/rns/5309W_1-2018-8-1.pdf

Emma Priestley, CEO of GoldStone said, "We continue to advance development of the AKHM project with the intention of bringing it back into production within two years.  Both the higher-grade underground mine at Akrokeri, which has reported historic recovered grades of up to 24g/t Au, and the open pit mine at Homase, which has a current JORC resource of 602,000 ounces of gold at an average grade of 1.77g/t, have visible gold in historic drill core.  This reinforces our confidence in the wider mineralised potential of the Project, which is located just 8km along strike from one of the world's major gold mines - the Obuasi Gold Mine, which has a total gold endowment in excess of 70 million ounces of gold.

"We are understandably extremely excited about the consistently encouraging finds that we have experienced at AKHM, and we look forward to updating the market on progress as we complete our scoping study and move ever closer towards production."

**ENDS**

For further information, please contact:

GoldStone Resources Limited
Emma Priestley	Tel: [phone]
Citigate Dewe Rogerson
Louise Mason-Rutherford	Tel: [phone]
St Brides Partners Ltd
Susie Geliher / Juliet Earl	Tel: [phone]

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 Akrokeri-Homase 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.  The project holds two former mines, the Akrokeri (Ashanti) Mine Ltd, which in the early 1900's produced 75,000 oz gold at a final recovered average grade of 0.73oz/t, equivalent to approximately 24 g/t, and the Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,000 oz gold @ 2.5g/t.  It is the Company's intention to develop the Akrokeri-Homase Project then 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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