GoldStone is an AIM listed exploration company based in South Africa with exploration skills that primarily focus on gold. The company’s projects are located in Ghana and Senegal and range from grassroots (Sangola in Senegal and Manso Amenfi in Ghana) to advanced exploration (Homase in Ghana). Both Ghanian 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. The company is constantly reviewing new gold exploration opportunities to further grow its exploration portfolio and to reduce the discovery risk. In line with this strategy GoldStone recently submitted applications for two large gold exploration permits in Gabon, Central Africa. Once acquired, the company's strategy is to develop a project towards the Bankable Feasibility Stage.

Late last year GoldStone announced that it entered into joint venture agreements with two Ghanaian companies. During October 2009 the company entered into a joint venture agreement to develop the Homase Prospecting Licence. The joint venture in respect of the Manso Amenfi licence was announced on the 23rd of November 2009. The Homase licence 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. Historical drilling on the permit area by previous explorers resulted in the discovery of gold mineralisation along three kilometres of strike. The compilation of the historical drill data into a three dimensional model is nearly completed and a JORC complaint resource statement is currently being prepared from historical drill data acquired by the company. The Manso Amenfi joint venture complements the more advanced Homase permit in Ghana and is prospective due to the presence of two large untested soil anomalies and various other exploration targets. The permit area is within trucking distance of Golden Star Resources' Bogoso processing plant and may for this reason be classified as a brown fields exploration project.

During November 2009 the company was granted the Sangola Permis de Recherche in Senegal. The Company will be able to commence exploration activities for gold in this area as soon as an arête is issued by the Mining Minister, which is expected to occur shortly. The exploration programme for the permit will commence with a structural and regolith study based on remotely sensed data.

PRESENT ACTIVITIES

 Homase: compilation of historical drill data into a
3D model and calculation of a JORC compliant
resource statement. 
 Manso Amenfi: evaluation of existing exploration information.
 Senegal: follow up on the execution of the arête (similar to a notarial execution) for the Sangola permit.
 Gabon: follow up on two permit applications.
 Evaluation of various exploration opportunities in Africa.

FEATURED NEWS
Strategic Alliance with Bendigo Mining

On the 6th of May 2010 GoldStone entered into a strategic alliance with Bendigo Mining, a midtier Australian gold producer who... Read More  What other people think about Goldstone with a JORC resource... Read More