Sangola Drill Results

RNS Number : 3192L

Goldstone Resources Ltd

09 August 2013

 



GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

SANGOLA DRILL RESULTS

GoldStone (AIM; GRL), the AIM quoted exploration company focused on gold exploration in West and Central Africa, is pleased to provide drill results for its Sangola project in Senegal, where it has a joint venture with Randgold Resources (Senegal) Limited ("Randgold").

Highlights:

·     Drilling results confirm gold mineralisation in a 70 metre wide zone

·     Best gold intersects include:

o  39 metres @ 0.67 g/t (including 2 metres @ 5.4 g/t);

o  27 metres @ 0.45 g/t; and

o  2 metres @ 5.1 g/t (including 1 metre @ 9.9 g/t)

Jurie Wessels, Chief Executive Officer of the Company, commented: "We are very pleased with our exploration partner's rapid progress at Sangola.  We are looking forward to the completion of Randgold's annual drilling commitment, which is planned to start at the onset of the dry season in December."

The Company has received assay results of the first 2,435m from the 4,800m reverse circulation ("RC") drilling programme which has been completed by Randgold in the Sangola permit area.  The results received are for 28 holes drilled along six drill fences across the Thiabedji target and one drill fence across the Tiobo target.  Drill hole depths range from 80 metres to 135 metres.  Best gold intercepts are given in the table below.

Drill Hole	Target	From (m)	Width (m)	Gold (g/t)
TDRC006	Thiabedji	42	38	0.34
TDRC007	Thiabedji	36	27	0.45
TDRC009	Thiabedji	72	39	0.67
including			7	2.2
including			2	5.4
TDRC010	Thiabedji	24	8	0.44
TDRC011	Thiabedji	24	11	0.45
including			2	2.6
TDRC011	Thiabedji	92	2	5.1
including			1	9.9
TBRC002	Tiobo	56	5	0.61
including			1	1.9

Plotted on section, the Thiabedji results confirmed a zone of gold mineralisation up to 70 metres wide in a boudinaged unit of silicified quartzites within a volcanoclastic package.  This mineralisation appears to be the depth extension of the best results achieved during last year's Rotary Air Blast drilling programme.  The analyses were carried out by SGS Kayes in Mali using the fire assay method.  The lower limit of detection was reported to be 0.01 g/t gold.  Further results for approximately 2,400 metres of RC drilling over the Tiobo target area are still pending.  Drilling over the Tiobo, Baraboye and Ibel target areas will re-commence after the rainy season, which is expected to be during December 2013.

APPROVAL

The information in this report that relates to exploration results, is based on information compiled by Dr 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.  Dr Schloemann 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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