On 11 August 2011 the Company announced:
HIGH GRADE DRILL RESULTS FROM THE HOMASE/AKROKERRI PROJECT, ASHANTI GOLD BELT, GHANA
Highlights
- All initial drill results confirm the extension of the high grade gold shoot under the northern part of the Homase pit
- Best results include 13.6 metres at 5.9 g/t and 8.5 metres at 9.5 g/t gold
- Ongoing drilling will continue to test down dip and along strike for further extensions to the current 405,600 ounce gold resource
- A second phase drilling programme of 4,500 metres is planned
- Homase licence extended to July 2012
All five drill holes intersected significant gold mineralisation and confirmed that the targeted high-grade gold shoot under the northern part of the previously mined Homase open pit extends to a depth of at least 140 metres below the bottom of the dormant pit (see Figures 1 & 2). A summary of the drill results is tabled below.
|
Drill hole |
From (m) |
To (m) |
Width (m)* |
Gold Grade (g/t) |
|
11HMRD001
including |
159 |
172.6 |
13.6
8.3 |
5.9
7.2 |
|
11HMRD002
including |
158 |
171 |
13.0
10.0 |
6.4
8.2 |
|
11HMRD003 |
181 |
189.5 |
8.5 |
9.5 |
|
11HMRD004
including |
142 |
150 |
8.0
6.0 |
4.9
6.5 |
|
11HMRD005
including |
177 |
190 |
13.0
6.5 |
4.7
8.9 |
* The widths given in the table are down-hole widths.
The gold mineralisation is hosted by greywacke which occurs within a succession of sheared phyllites. Importantly, the ore zone is easily identifiable by graphitic marker horizons at the base and top of the mineralised unit.
To date seven drill holes totalling 1,578 metres, being the first phase of a 4,500 metre drill programme, have been completed. All holes intersected the targeted mineralised unit. A second phase drill programme for another 4,500 metres will commence after the first phase results have been reviewed. The remainder of the drill programme will be aimed at further extending the resource.
Dr. Hendrik Schloemann, GoldStone's Exploration Director, commented: "The intersects achieved during the first part of this drill programme demonstrate that the high grade portion of the gold deposit extends to depth. Considering that mining at the nearby Obuasi gold mine in the same geological environment presently extends to almost 2,000 metres depth, the significant grades and widths intersected at Homase/Akrokerri further support our view that we may be able to follow this zone much further down dip. Future work will also be directed to locate additional high grade shoots along strike."
Figure 1: A longitudinal section showing the positions of the high-grade gold intersections achieved with the first five boreholes under the previously mined Homase open pit. It can be seen that the drilling significantly extended the known extent of the high-grade shoot under the pit.
Figure 2: A cross section through the Homase open pit from which AngloGold Ashanti mined approximately 40,000 ounces of gold during 2002 and 2003 and the underlying gold mineralisation. GoldStones drill programme (e.g. drill hole 11HMRD003) clearly confirmed that the high-grade mineralisation under the pit extends to depth. Upcoming drilling will be aimed at increasing GoldStones 405,600 ounce gold resource on this permit.