HomeFeatures & AnalysisGoldStone Resources identifies 8 km gold-in-soil anomaly

GoldStone Resources identifies 8 km gold-in-soil anomaly

GoldStone Resources has identified a >8 km gold-in-soil anomaly at its Akrokeri-Homase gold project, located 12 km along strike from AngloGold Ashanti’s +70 Moz Obuasi gold mine.

Ghana – The >8 km gold-in-soil anomaly, which runs from the historic Akrokeri underground mine to north of the Homase open pit has been identified following a review of the results from the recent geochemical soil sampling programme and historic field work.

“The potential size, scale and grades at our AKHM continue to improve, providing significant support for our recently implemented strategy to commence commercial gold production within two years,” comments GoldStone Resources CEO, Emma Priestley.

“These results of the 2018 Soil Programme, when combined with historic data, significantly upgrade the prospectivity of the project and enhance our understanding of the exciting potential of AKHM to contain significant gold mineralised zones.

“In particular, the Homase North Resource Zone and the zone between the Homase Pit and the Akrokeri mine now represent two very strong and consistent anomalous areas with significant potential for high grade oxide resources.

“We have commenced a scoping study to evaluate the potential of these oxide zones along the Homase Trend and we look forward to providing further updates in the months ahead,” she adds.

As part of the 2018 Soil Programme, approximately 5 500 samples were collected from grids on a close- spaced pattern of 20 metres by 50 metres over six target areas along the Homase Trend and south of the Akrokeri mine as detailed in the announcement of 25 January 2018.

Together with the review of historic data, the company has identified a >8 km gold in soil anomaly at AKHM which runs from the Akrokeri Mine to north of the Homase Pit.

From the results of the 2018 Soil Programme, along with the review of historic fieldwork, GoldStone Resources has defined a 2 km long, > 250 parts per billion (ppb), gold-in-soil anomaly immediately north of the Homase Pit, the Homase North Resource Zone.

Several soil values from within this zone exceed 1.0 g/t Au and the Board believes that historic, shallow, RC drilling over this zone, completed in 1999 on 200 metre spaced sections, did not fully evaluate the soil anomaly.

Additionally, GoldStone Resources’ on-going review of historic data has highlighted significant historic trench results which have not been drill tested.

Most notably, trench TH925A, in the centre of the Homase North Resource Zone, reported 15 metres @ 6.31 g/t Au including 4.5 metres @ 18.23 g/t Au.

The recent soil results from the Homase North Resource Zone have produced an anomaly of similar size and tenor to that defined previously south of the Homase Pit.

The oxide portion of the gold-in-soil anomaly immediately south of the Homase Pit was RC drill tested by GoldStone Resources in October 2017 on 25 metre spaced sections.

As announced on 9 November 2017, better than expected results were returned, including AKRC012: 12 metres @ 3.78 g/t Au and AKRC018: 30 metres @ 2.22 g/t Au.

On the basis of these drill results, GoldStone Resources is designing two shallow oxide pits south of the Homase Pit.

Deeper drilling is planned for the next dry season, Q4 2018, to test the depth extensions of these encouraging intersections.

Results from the 2018 Soil Programme have also defined a gold-in-soil anomaly for 2.4 km south of the Akrokeri underground mine.

Values up to 2,890 ppb have been reported from soils that overlie the interpreted southern extensions of the Akrokeri mine structure.

GoldStone will undertake a programme of air core drilling of this anomaly, in the next dry season, on closespaced sections over the southern projection of the Akrokeri mine as far as the boundary with AngloGold Ashanti’s Mining Lease, which hosts the Obuasi gold mine, a strike length of approximately 2.75 km.

The recent soil results have also delineated two parallel structures, namely the Adubriem trend to the west of Homase and the Krodua trend to the east.