Homase Mine

The Homase Mine was discovered in 1998 by Shea Gold Limited and acquired by AngloGold Ashanti Corporation in 2000. It was brought into production in 2002/2003. The mine produced 52,500 ounce gold at 2.5 g/t. The mine was abandoned as the gold price fell to USD275/oz. GoldStone Resources invested in the property in 2010.

Located in the Ashanti Gold Belt along which the ore bodies of major mines are located

  • 288km by road from Accra
  • 35km south West of Kumasi

Annual rainfall averages 2,030mm

Neighbour Obuasi Mine with 70Moz – 7.8g/t Au Historic + Current Resource

Homase Mine Profile
Ownership 90% GoldStone Akrokeri Limited 10% Government
Mining Method  

Open Pit

Defined in the Definitive Economic Plan (DEP) June 2019

Free dig below the 40 metres weather zone, may well require different mining methods

Processing Method Heap Leach Processing with proposed capacity of 500,000 tonnes per annum
Mineralisation style Structurally controlled hydrothermal (orogenic) with mineralisation comprising multiple
narrow quartz veins and intervening, hydrothermally altered, sedimentary rocks
Oxide material to 40 metres vertical; underlying c.5 metres intermediate mixed material;
deeper unoxidized material commonly to at least 200 metres
JORC Resource 2012
Resource Tonnes (million) (Au g/t) Ounces
Measured 1.61 1.61 116,000
Indicated 4.41 1.73 245,000
Inferred 4.56 1.64 241,000
Total 10.6 1.77 602,000

JORC Resource is within the 4.4km Homase Trend above a depth of 240m and open at depth

The 2016, 2017 and 2020 drilling campaigns, NOT included in the JORC Resource

The Non-JORC Mineable Resource defined in the DEP sits within the JORC Resource


Mineable Resource  72,000 ounces of gold @ 1.4g/t inferred, within the oxide mineralised zone of the JORC resource

Mineable resource within the existing JORC resource of 602,000 ounces of gold @ 1.77 g/t (2012)