REG - Goldstone Resources - Progress on Operations

Goldstone ResourcesAnnouncement

06/08/2024 07:00

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RNS Number : 2538Z  Goldstone Resources Ltd  06 August 2024

 6 August 2024

 

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

 

Progress on Operations

 

GoldStone Resources Limited (AIM:GRL) is pleased to provide an update on the
progress of operations in respect of the Homase Mine and heap leach operation
in south-western Ghana ("Homase").

 

·    Solid progress with the development of additional heap leach pads at
Homase, with Pad 4 now complete and Pads 5, 6 and 7 advancing on schedule and
on budget.

·    Construction of Pad 5 now well advanced with civil engineering works
completed and the liner being laid, see Figures 1 and 2.

·    Earthwork preparation is underway ahead of developing Pads 6 and 7.

·    Development of additional leach pads is integral to the Company's
objective to deliver the planned 50,000 tonnes of stacked and agglomerated ore
within six months, to support gold production targets of 1,000oz pcm.

 

Figure 1:  Civil Engineering completed on Pad 5

 

Figure 2: Commencement of liner being laid on Pad 5

 

 

For further information, please contact:

 

 GoldStone Resources Limited
 Emma Priestley                      Tel: +44 (0)1534 487 757

 Strand Hanson Limited
 James Dance / James Bellman         Tel: +44 (0)20 7409 3494

 S. P. Angel Corporate Finance LLP
 Ewan Leggat / Charlie Bouverat      Tel: +44 (0)20 3470 0501
                                     Tel: +44 (0)20 7236 1177

 St Brides Partners Ltd

 Susie Geliher

 

About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted mining and development
company with projects in Ghana that range from grassroots exploration to
production.

 

The Company is focused on developing the Akrokeri-Homase project in
south-western Ghana, which hosts a JORC Code compliant 602,000oz gold resource
at an average grade of 1.77 g/t. The existing resource is confined to a 4km
zone of the Homase Trend, including Homase North, Homase Pit and Homase South.

 

The project hosts two former mines, the Akrokerri Ashanti Mine Ltd, which
produced 75,000 oz gold at 24 g/t recovered grade in the early 1900s, and the
Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,000 oz
gold at 2.5 g/t recovered. Production is currently focussed on the Homase Mine
however 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.

 

 

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