HIGH GRADE DRILL RESULTS FROM HOMASE/AKROKERRI

RNS Number : 5494W

Goldstone Resources Ltd

01 February 2012

 



GoldStone Resources Limited

HIGH GRADE DRILL RESULTS FROM THE HOMASE/AKROKERRI PROJECT

GoldStone Resources Ltd ("GoldStone" or the "Company"), the West and Central Africa focused gold exploration company, is pleased to announce the results of four new drill holes at the Homase/Akrokerri project, part of the Ashanti Gold Belt in Ghana.

Highlights:

·     Intersections include 8.1 metres at 11.1 g/t, 9.7 metres at 6.1 g/t and 4.0 metres at 6.7 g/t

·     The mineralisation of the high grade shoot remains open at depth

·     Results extend the known strike length of the high grade shoot at 200 metres depth under the northern part of the Homase pit from 20 metres to 95 metres

Hendrik Schloemann, GoldStone's Exploration Director, commented: "We are pleased to have extended the known strike extent of the high grade shoot at depth and are encouraged to see that the geometry of the shoot is predictable, the grades are consistently high and that the mineralisation remains open at depth."

A summary of the drilling results is shown below:

Drill hole	From (m)	To (m)	True Width (m)	Gold grade (g/t)
11HMRD017	237	248	8.1	11.1
11HMRD019	275	280	4.0	6.7
11HMRD020	268	281	9.7	6.1
11HMRD021	223	259	18.5	0.9

Note: Drill hole 11HMRD018 was abandoned due to technical problems before it intersected its target zone.

Every drill hole intersected the mineralisation down-dip of GoldStone's 405,600 ounce JORC compliant gold resource at Homase/Akrokerri.  These positive results indicate the potential for a resource upgrade in the future.  The Company will now systematically test the down-dip extent of the gold resource along its entire four kilometre strike length and will also drill targets in the Akrokerri granite area.  Since June 2011, when the drilling programme at Homase commenced, 20 drill holes totalling 5,278 metres have been completed.

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
Westhouse Securities Limited	[phone]
Tim Feather / Matthew Johnson
Optiva Securities Limited
Jason Robertson	[phone]
Jeremy King	[phone]
Walbrook PR	[phone]
Louise Mason Bob Huxford

 

END

 

 

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