Goldstone Resources Ltd Update on Operations (1779L)
July 17 2017 - 2:00AM
UK Regulatory
TIDMGRL
RNS Number : 1779L
Goldstone Resources Ltd
17 July 2017
17 July 2017
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Update on Operations
GoldStone Resources Limited (AIM: GRL) is pleased to announce
that it has commenced field work at its Homase-Akrokerri project in
Ghana.
Following the investment by Paracale Gold Limited, the Company
has undertaken a review of all of the available historic data on
the existing JORC Code compliant resource for the Homase-Akrokerri
project. Based on the review to date, the directors of the Company
believe that there is a mineable reserve within the oxide zone
within the Akrokerri licence. As the next step, the Company has
commenced pit definition drilling, coupled with additional
confirmation drilling to progress pit modelling. To carry out this
work the Company has appointed Ghanaian contractors, BCM Ghana
Limited, who have mobilised a drill rig and established earthworks
equipment on the Akrokerri mine site.
These initial steps will facilitate pit design and provide the
necessary platform for proceeding with an application to the
Government of Ghana for a mining permit, which we expect to
initiate before the end of September.
Neil Gardyne, Chairman, commented: "At long last we have an
action orientated outlook for the Company and we are building a
team to aggressively pursue a gold production focused strategy for
the benefit of our shareholders."
For further information, please contact:
GoldStone Resources
Limited
Emma Priestley / Neil Tel: +44 (0)20 7830 9650
Gardyne / +27 (0)82 490 4427
Strand Hanson Limited
Richard Tulloch / James Tel: +44 (0)20 7409 3494
Bellman
SI Capital Limited
Nick Emerson / Andy Tel: +44 (0)1483 413 500
Thacker
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
- END -
About GoldStone Resources Limited
GoldStone Resources Limited (AIM: GRL) is an AIM quoted
exploration company with projects in Ghana, Senegal, and Gabon that
range from grassroots to advanced exploration.
The Company is focused on developing the Homase-Akrokerri
project in south-western Ghana, which hosts an existing 602,000 oz
gold JORC Code compliant resource at an average grade of 1.77g/t,
along strike from the Obuasi Gold Mine, one of the World's major
gold mines with a total historical and current resource in excess
of 70 million ounces of gold. It is the Company's intention to
build a portfolio of high-quality gold projects in Ghana, with a
particular focus on the highly prospective Ashanti Gold Belt.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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