GoldStone Resources reports drilling results from Ghana’s Homase Project

29 January 2017 (Last Updated January 29th, 2017 18:30)

GoldStone Resources has provided results from its recently completed diamond drilling programme at Homase Project in Ghana.

GoldStone Resources reports drilling results from Ghana’s Homase Project

GoldStone Resources has provided results from its recently completed diamond drilling programme at Homase Project in Ghana.

This drilling programme targeted the deeper and higher grade sulphide ore shoots beneath the Homase oxide resource and the historical open-pit that was previously perform by AngloGold Ashanti in 2002-03.

The diamond drill-holes have indicated encouraging results, with 16HMDD-0001: 21.3m at 1.98g/t from 143.4m, including 7.4m at 3.37g/t from 155.2m. In addition, results also found 16HMDD-0002: 23.3m at 1.39 g/t from 170m, including 6m at 4.44g/t from 187.3m and 3m at 8.21g/t from 190.3m.

According to the company, drilling confirmed continuity of the mineralised zone to vertical depths of between 120m and 180m underneath the base of the historic open-pit.

Deeper intersection from the third hole indicated a potential for identifying parallel orebodies within the major structural corridor.

GoldStone Resources chairman Neil Gardyne said: “This three-hole drilling programme on the Homase licence has produced encouraging results by starting the process of targeting ‘information gaps’ within the existing resource. These results provide important insights to the controls on the mineralisation, as well as confirming continuity of the mineralised zone.

"This three-hole drilling programme on the Homase licence has produced encouraging results by starting the process of targeting ‘information gaps’ within the existing resource."

“Importantly, they will allow us to plan further drilling with a view to adding to the existing resource, whilst at the same time improving confidence levels in the categorisation of the existing 0.62 million ounce JORC Code compliant resource. Although there is little doubt that the ore shoots continue to greater depths, our focus will be on identifying resources at depths that can exploited in the foreseeable future.”

Totalling 797m, the three-hole diamond drill programme was completed in November.

This programme was intended to provide new information on the depth- and strike-continuity of the Homase-Akrokerri mineralised zone beneath the known Homase oxide resource and the area previously exploited by AngloGold Ashanti for oxide material, which lies within the Homase licence.

The firm’s current focus is to identify more resources within the upper zones of the Homase mineralised corridor to facilitate near-term planning for exploitation.


Image: GoldStone Resources is focused on gold exploration in Central and West Africa. Photo: courtesy of Alchemist-hp (talk) www.pse-mendelejew.de/Wikipedia.