Welcome To GoldStone Resources Ltd.
GoldStone is an AIM listed exploration company with exploration skills that focus on gold in West and Central Africa. The company’s projects are located in Ghana, Senegal and Gabon, and range from grassroots to advanced exploration.
The Homase/Akrokerri project is located near AngloGold Ashanti’s Obuasi mine within the well mineralised Ashanti Gold Belt in Ghana where more than seventy million ounces of gold have been discovered. The objective of exploration in the Homase/Akrokerri project area is to find extensions of the known ore body along strike and below the presently known gold resource. Other exploration targets in the project area, like the Akrokerri quartz vein and the Akrokerri granite, have also been targeted by GoldStone and yielded promising drill results. The JORC compliant gold resource for the Homase/Akrokerri project presently is 602,000 ounces at an average grade of 1.77 grams per tonne. Various options for early commercialisation of this project are presently considered.
The Manso Amenfi joint venture in Ghana complements the more advanced Homase/Akrokerri project. Results from a soil sampling programme yielded a number of strong gold in soil anomalies with gold concentrations up to 3.7 g/t. The work programme planned for 2013 includes an extensive trenching programme and possibly follow up drilling.
All Ghanaian exploration projects are classifiable as “brown fields” projects; i.e. they are located in the shadows of headgear of existing mining operations and may be commercialised even if they do not reach the critical mass to justify a stand-alone mining operation.
In Senegal the company holds the Sangola “Permis de Recherche”. A permit wide termite mound sampling programme has identified several robust gold anomalies at surface. Most of these anomalies are directly associated with the gold-fertile MTZ structure which also controlled the formation of Randgold's 3.2 Moz Massawa gold deposit north-east of the Sangola permit. On the 8th of April 2013 a joint venture with Randgold for the exploration and potential development of a mine at Sangola was entered. Randgold is to fund all costs up to and including the completion of a pre-feasibility study indicating that the mining of at least 1Moz of gold is feasible. Since April the joint venture executed an aggressive drilling programme focused on the Thiabedji and Tiobo targets and received promising results. Drilling will re-commence after the rainy season, which is expected to be during December.
The Oyem and Ngoutou permits in Gabon (Central Africa) were granted during April 2011. Both permits contain robust gold in soil anomalies in excess of 15 kilometres length. Diamond drilling of nine holes has been completed at Oyem. Assay results yielded gold concentrations of up to 9.5 g/t in a 120 metre wide deformational zone. At Ngoutou a initial three hole diamond drilling programme yielded wide gold mineralisation covering 120 metres of strike. Best results include 16 metres @ 1.3 g/t gold (including 2 metres @ 5.6 g/t), 33.5 metres @ 0.4 g/t and 32 metres @ 0.4 g/t.
The company is constantly reviewing new gold exploration opportunities to further grow its exploration portfolio and to reduce discovery risk. Once acquired, the company's strategy is to develop the projects towards the Bankable Feasibility Stage.