REG - Goldstone Resources - Record Gold Pour and Update re Homase Mine

Goldstone ResourcesAnnouncement

12/02/2025 07:00

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RNS Number : 7532W  Goldstone Resources Ltd  12 February 2025

12 February 2025

 

GOLDSTONE RESOURCES LIMITED

("Goldstone" or the "Company")

 

Record Gold Pour and Update re 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.

 

·    Record Gold Pour: On 10 February 2025, the Company achieved a record
16.253 kilograms of gold doré, equivalent to approximately 522 ounces of
gold.

·    Strong Production Growth: Monthly gold production has doubled since
November 2024, and Goldstone remains committed to working towards its target
of 1,000 ounces of doré per month.

·    Consistent Improvement: The average monthly gold pour for 2024 was
225 troy ounces, based on final assay reports from Metalor Technologies SA,
reflecting significant and ongoing operational improvements, particularly
during Q4 2024.

·    Operational Ramp-Up: The operation has successfully ramped up to an
average of 48,000 tonnes of agglomerated stacked ore per month, with mining
operations and heap leach processing targets on track.  Lower-than-expected
ore grades in the final stages of the Pit 2 of operations, which is nearing
the limits of the oxide ore, are currently impacting final gold production
volumes, however operations will shortly be re-entering the higher grade Pit
1, which was placed on hold in 2023 due to the now completed relocation of a
stream. As such, mining operations will re-commence in Pit 1 within a 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.

·    Expansion in Progress: Operations are currently advancing on the
second lift of pads 3 and 4, the extension to Cell 5 is nearing completion.
The civil engineering work is underway for the construction of Cells 6 and 7.
This work will support the expansion of both mining and processing operations
throughout 2025, and preparatory work has already commenced for the expansion
of Pit 1.

 

Emma Priestley, Chief Executive Officer, commented:

"We have seen significant recent operational improvement and now have the key
building blocks in place to continue this momentum throughout 2025. We
continue to work towards our target of 1,000 ounces of doré per month and
believe the progress we've made in recent weeks demonstrates our ability to
meet this goal."

Figure 1: Poured Doré 16.3 kilos

 

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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