Licence Renewals

RNS Number : 0053F

Goldstone Resources Ltd

15 April 2011

 



GoldStone Resources Limited

("GoldStone" or the "Company")

Licence Renewals

GoldStone Resources Limited (AIM: GRL), the AIM quoted exploration company focused on gold in West Africa, is pleased to announce that it has received notice from the Minerals Commission of Ghana that the validity periods of the Company's Akrokerri and Manso Amenfi prospecting licences have both been extended for a period of 12 months.

Akrokerri

The Company's Ghanaian subsidiary, GoldStone Akrokerri Ltd (formerly known as Pan African Resources Ghana Ltd), has received a notice from the Minerals Commission of Ghana informing the company that the Akrokerri licence has been extended for a period of 12 months subject to the payment of a consideration fee of US$15,000.  The Company's consultants are in the process of evaluating historical drill data acquired by GoldStone in respect of this licence area in order to determine whether the data supports the estimation of an initial code compliant resource.  If successfully completed this initial resource estimate on Akrokerri will, due to its close proximity to Homase, add to the Homase resource.

Manso Amenfi

GoldStone's joint venture partner Asaasemu Mining Company Ltd, a Ghanaian company, has received notice that the Manso Amenfi licence has been extended for a period of 12 months subject to the payment of a consideration fee of Ghana Cedis 500 (US$330).  The soil sampling programme that covers the entire permit area is nearing completion with 400 of the 2,000 samples outstanding.  The Company expects to provide an interim report and analysis on the 1,600 samples taken in the coming weeks.

Enquiries

GoldStone Resources Limited	[phone]
Jurie Wessels
Westhouse Securities Limited	[phone]
Tim Feather / Matthew Johnson
Optiva Securities Limited
Jason Robertson	[phone]
Jeremy King	[phone]
Walbrook PR	[phone]
Bob Huxford
Jack Rich

 

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