GoldStone Resources Limited on Tuesday, provided the assays from the first three holes of the Diamond Drilling programme, announced 30 August 2022.

These holes are the first in a programme designed to probe the southward extension of the high-grade orebody exploited in the Akrokeri mine down to a depth of around. 70 m vertical, and along initial strike distance of around 600 m.

The drill programme is in line with the Company’s strategy to advance additional high-priority gold targets towards production to augment current production from the Company’s Homase Open Pit Mine.

Emma Priestley, CEO of Goldstone, commented:

“The ramp up of gold production at Homase is gaining momentum, and we are now increasingly contemplating our longer-term production profile. A key feature of this expansion plan is the delineation of potentially high-grade resources along strike and down dip of the Akrokeri orebody.

”Historically, the Akrokeri Mine yielded 75,000 oz gold at an average grade of 24 g/t and, more recently, has returned some exceptional results from exploration activities”.

“The first three holes of this drilling programme at Akrokeri have delivered significant intersections and confirmed the continuity of the mineralized zone for a minimum distance of 180 m southwards from the known limit of the former Akrokeri Mine workings.

”These initial results have confirmed the nature and overall geometry of a structurally controlled mineralized channel and allow planning of the continuing drill programme with a high degree of confidence”.

”Although the evidence from the old Akrokeri Mine indicates that the orebody should extend to a vertical depth of around 150m, our focus will be on identifying relatively near-surface resources that can be exploited in the foreseeable future”.

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.