Sangola, Senegal: Drilling Commenced

RNS Number : 0319D

Goldstone Resources Ltd

10 May 2012

 



GoldStone Resources Limited

("GoldStone" or the "Company")

Sangola, Senegal: Drilling Commenced

GoldStone (AIM: GRL), the AIM quoted exploration company focused on gold in West Africa, is pleased to announce that drilling has commenced at the Company's Sangola project in Senegal. The drilling is being carried out by GoldStone's contractor, IDC Senegal (SARL).   The drilling had been delayed for two months by the introduction of new policies and bureaucratic formalities by the Forestry Department of Senegal in early March 2012.

The first phase of the drilling program will comprise of 15,000 metres of Rotary Air Blast drilling, where drilling will be directed at testing large parts of the Thiabedji anomaly. The Thiabedji anomaly is one of three previously discovered elongated gold anomalies identified at Sangola (announced 22 August 2011) and the first to be drilled and explored further by the Company.  The Thiabedji anomaly is six kilometres long and appears to be associated with a splay off the Main Transcurrent Shear Zone, the shear zone which controls the formation of various other gold occurrences (including Randgold's 3.4 million ounce Massawa deposit) further to the northeast.

If time permits the Company will undertake a second program of 15,000m prior to the onset of the rainy season in July. Otherwise this second round of drilling will be undertaken as soon as conditions permit.

Jurie Wessels, GoldStone's Chief Executive Officer, commented: "We are very pleased to have commenced with drilling operations after a prolonged delay and are optimistic that we will be able to reach our exploration targets before the rainy season commences.  We are also looking forward to receiving the results from an airborne magnetic and radiometric survey, directed at detecting structures associated with the gold anomalies, which is planned to commence before the end of May 2012."

Enquiries:

GoldStone Resources Limited	[phone]
Jurie Wessels / Hendrik Schloemann
Westhouse Securities Limited	[phone]
Martin Davison
Optiva Securities Limited
Jason Robertson	[phone]
Jeremy King	[phone]
Walbrook PR	[phone]
Louise Mason

 

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