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West African explorer targets Ghana gold project

HOMASE-AKROKERRI GOLD PROJECT The project is located in the Ashanti gold belt region of Ghana, which possesses about 70-million ounces of gold reserves

EMMA PRIESTLEY The Homase-Akrokerri gold project has a Joint Ore Reserves Committee-compliant resource of 602 000 oz of gold and sulphide oxide

17th March 2017

By: Ilan Solomons

Creamer Media Staff Writer

     

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Gold exploration company GoldStone Resources is aiming to focus its resources on developing the company’s flagship Homase-Akrokerri gold project, in Ghana, says CEO Emma Priestley.

She says it is her intention to seek funding to carry out the next round of exploration drilling on the project. Priestley explains that this will enable GoldStone to firstly add to and convert the existing Joint Ore Reserves Committee- (Jorc-) compliant resource for Homase-Akrokerri into the measured categy to facilitate near-term planning for exploitation.

“We will, subject to funding, also look to undertaking further exploration work on target areas of interest within the concession areas.”

She notes that the project is located in the Ashanti gold belt region of Ghana, which hosts about 70-million ounces of gold reserves and is also host to gold miner AngloGold Ashanti’s 42-million-ounce-resource Obuasi gold mine.

Priestley highlights that Homase-Akrokerri has a Jorc-compliant resource of 602 000 oz of gold, which is a sulphide oxide deposit, with the company having spent about $1-million on exploration works last year on the project.

The company recently completed a three-hole drilling programme on the Homase licence, which she says has produced “encouraging results” and has started the process of targeting information gaps in the existing resource.

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

She points out that the drilling confirmed continuity of the mineralised zone to vertical depths of between 120 m and 180 m underneath the base of the historic openpit. Priestley elaborates that the deeper intersection from the third hole indicated potential for identifying parallel orebodies within the major structural corridor.

She informs Mining Weekly that GoldStone’s immediate focus is to identify additional resources within the upper zones of the Homase mineralised corridor to facilitate near-term planning for exploitation.

Further, Priestley notes that, as part of the company’s current review of the historical database for the Homase-Akrokerri project – including a review of the versatile time-domain electromagnetic (VTEM) survey and historical soil geochemistry carried out in 2012 – GoldStone has identified nine targets and has completed an auger drilling programme, comprising 304 m from 140 auger holes, testing three of these anomalies.

She highlights that assay results from all three targets demonstrated some degree of gold anomalism. However, there were two zones of particular significance, namely Eureka, with marked anomalism over a strike length of about 200 m and “possibly” indicating the potential of a 400-m-long geophysical anomaly, and Eureka SW, which has an anomalous zone of more that 15 parts per billion of gold identified over a distance of 300 m.

“These results will be integrated into our 2017 drilling programme, which will focus on resource conversion drilling and expanding the existing Homase resource, and will also target other areas of interest within the licences,” states Priestley.

GoldStone has a technical service agreement with exploration and development company Stratex International and is responsible for all exploration and testing results on the project. West Africa-based mineral exploration and mining consultancy Sems Exploration Services signed off the project’s Jorc statement.

GoldStone has other projects in Ghana, Senegal and Gabon that range from grassroots to advanced exploration.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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