REG - Goldstone Resources - Production Continues to Ramp Up at Homase Mine

Goldstone ResourcesAnnouncement

26/03/2025 07:16

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RNS Number : 1497C  Goldstone Resources Ltd  26 March 2025

26 March 2025

 

GOLDSTONE RESOURCES LIMITED

("Goldstone" or the "Company")

 

Production Continues to Ramp Up at Homase Mine

 

Goldstone Resources Limited (AIM: GRL) is pleased to provide an update on its
Homase Mine and heap leach operation in south-western Ghana.

 

·   Gold Pour: The Company achieved another increase in production, with
18.629 kilograms of gold doré, equivalent to approximately 598.9 ounces of
gold doré poured as at 24 March 2025, a 14% monthly increase.

·   Operational Ramp-Up: The operation maintains the average 48,000 tonnes
of agglomerated stacked ore per month, with mining operations and heap leach
processing targets on track.

·   Expansion in Progress: The preparatory work continues for the expansion
of Pit 1, with the pushback of the benches to allow access to the ore.  It is
anticipated that mining operations will re-commence in Pit 1 this month, where
expected grades are 1-1.2 g/t, which with increased stacking and the continued
improvement in leach kinetic rates is expected to facilitate the achievement
of our production target over the coming months.

To further support the expansion of both mining and processing operations
throughout 2025, operations continue to advance on the second lift of pads 3
and 4 and the extension to Cell 5 is nearing completion, with compacting
completing ready for the geomembrane to be laid.  The civil engineering work
continues for the construction of Cells 6 and 7. The photographs shared below
(Figures 1-4) provide a snapshot of this progress.

 

Photographs of developments at the Homase Mine (taken in March 2025)

 

Figure 1: Pit 1 pushback underway to recommence mining ore

 

 

 

 

 

 

 

 

 

 

 

 

 

Figure 2: The Heap Leach operation showing the second lift on Pads 3 and 4

 

 

 

 

 

 

 

 

 

 

 

 

Figure 3: Pad 5 Extension

 

 

 

 

 

 

 

 

 

 

 

 

Figure 4: March Gold Pour

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

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