Gabon Update

RNS Number : 1782E

Goldstone Resources Ltd

08 May 2013

 



GOLDSTONE RESOURCES LIMITED

Three Hole Diamond Drilling Programme at Ngoutou Project in Gabon Completed

GoldStone Resources Ltd (AIM: GRL), the AIM quoted company focused on gold exploration in West and Central Africa, is pleased to provide an update for the Company's 100% owned Ngoutou Project in Gabon.

Highlights:

·     Wide zones of hydrothermal alteration and sulphides intersected

·     Assay results for three diamond holes pending

·     Additional drilling planned for 2013

Exploration Director Dr. Hendrik Schloemann commented: "I am very encouraged that our team was able to intersect a wide zone of hydrothermal alteration and banded iron formation under the central part of this extensive gold in soil anomaly.  Our focus is now to get all samples into the laboratory as soon as possible."

The Company has completed a three hole diamond drilling programme in the central part of its 15 kilometre long Ngoutou gold in soil anomaly.  The three holes were drilled along a soil sampling line that yielded gold values between 50 ppb and 90 ppb.  The programme revealed that the surface gold anomaly is underlain by a sequence of banded iron formation ("BIF"), amphibolite and diorite.  The intersected rock sequence shows evidence of strong hydrothermal activity.  In particular, an approximately fifty metre wide sequence of intercalated BIF and amphibolite contains abundant disseminated pyrite.  In addition, an approximately fifteen metre wide zone of strong silification was identified in the hanging wall diorite, containing stock work quartz veining and disseminated sulphide. 

The programme accounted for a total of 535 metres and the sampling of the drill core has been completed.  Analysis of the drill core will be carried out in South Africa and the Company is looking forward to reporting on the results in due course.  Further drilling to test the centre of the soil anomaly along two additional lines has been scheduled for later this year.

APPROVAL

The information in this report that relates to exploration results is based on information compiled by Dr. Hendrik Schloemann, who is a Member of the South African Council for Natural Scientific Professions.  Dr. Schloemann is a full-time employee of GoldStone Resources Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a competent person in terms of the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr. Schloemann consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Enquiries

GoldStone Resources Limited	[phone]
Jurie Wessels
WH Ireland Limited	[phone]
Tim Feather
Nick Field

 

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