REG - Goldstone Resources - Homase Gold Mine Update

Goldstone ResourcesAnnouncement

11/11/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241111:nRSK6166La&default-theme=true

RNS Number : 6166L  Goldstone Resources Ltd  11 November 2024

11 November 2024

 

GOLDSTONE RESOURCES LIMITED

("Goldstone" or the "Company")

 

Homase Gold Mine Update

 

Goldstone Resources Limited (AIM: GRL) is pleased to provide an update on the
progress of operations in respect of the Homase Mine and heap leach operation
in south-western Ghana ("Homase").

 

·    Mining continues in Pit 2 which is expected to be completed late
January 2025, with preparation work starting in Pit 1 to commence production
in Q1 2025.

·    Earthworks continue for the extension to Cell 5 and to Cells 6 and 7
and preparations for Cell 4 have begun to prepare for a second lift.

·    To date the Company has poured c.1,920 troy ounces gold in 2024,
compared to 1,257 troy ounces during 2023.

·    Remain on schedule to meet the Company's target of 1,000 ounces gold
production per month from January 2025, from 48,000 tonnes of stacked
agglomerated ore per month.

 

Emma Priestley, Chief Executive Officer, commented:

"We remain on track to deliver our stated objective of producing 1,000oz pcm
from January 2025, with our production profile at Homase improving week on
week, and month on month.  This improvement has been delivered throughout the
rainy season, which has continued well into October this year.  The dry
season is now just around the corner and this will support our expansion plans
throughout the current quarter and into the new year.  I am delighted with
our progress over recent months and I look forward to sharing further updates
throughout Q4 2024."

 

 

 

Homase Mine, Pit 2, with Pit 1 in background          Stacking of
agglomerated ore continues on Cell 5

 

 

For further information, please contact:

 

 GoldStone Resources Limited
 Emma Priestley                      Tel: +44 (0)1534 487 757

 Strand Hanson Limited
 James Dance / James Bellman         Tel: +44 (0)20 7409 3494

 S. P. Angel Corporate Finance LLP
 Ewan Leggat / Charlie Bouverat      Tel: +44 (0)20 3470 0501
                                     Tel: +44 (0)20 7236 1177

 St Brides Partners Ltd

 Susie Geliher

 

About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted mining and development
company with projects in Ghana that range from grassroots exploration to
production.

 

The Company is focused on developing the Akrokeri-Homase project in
south-western Ghana, which hosts a JORC Code compliant 602,000oz gold resource
at an average grade of 1.77 g/t.  The existing resource is confined to a 4km
zone of the Homase Trend, including Homase North, Homase Pit and Homase South.

 

The project hosts two former mines, the Akrokerri Ashanti Mine Ltd, which
produced 75,000 oz gold at 24 g/t recovered grade in the early 1900s, and the
Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,000 oz
gold at 2.5 g/t recovered.  Production is currently focussed on the Homase
Mine however it is the Company's intention to build a portfolio of
high-quality gold projects in Ghana, with a particular focus on the highly
prospective Ashanti Gold Belt.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDQKKBKFBDDBDD