Incorporated in Jersey, GoldStone Resources LTD through its wholly owned subsidiary GoldStone Akrokeri LTD is a gold production and development company focused on the Ashanti region of Ghana.
The presence of gold mining in the Project Area of Akrokeri and Homase has been reported as early as 1895, when gold production was recorded from the Akrokeri Mine between 1905 and 1909 as 75,000 ounces at a recovered grade of 24 g/t. The mine was abandoned due to an in-rush of water.
The Homase Mine was discovered in 1998 by Shea Gold LTD, it was acquired by AngloGold Ashanti Corporation in 2000 and brought into production in 2002/2003. The mine produced 52,500 ounce gold at 2.5 g/t. The mine was abandoned at the gold price fell to USD275/oz and was not in the portfolio when the merger with AngloGold Plc went through. GoldStone Resources invested in the property in 2010.
The current orebody at Homase Mine hosts a JORC compliant mineral resource of 602,000 ounces of gold with an average gold grade of 1.77 g/t, within which 116,000 ounces of gold at 2.24 g/t are measured resources, (as at 30 October 2012).
The Company has brought the Homase Mine back into production, and has established a heap leach processing facility, elution plant and gold room. The Homase mine is a series of shallow open pit mines along the Homase 8km mineralised trend, within which the JORC compliant resource has a 4km strike length.