Business
Acquisition - Akrokerri Licen
Acquisition - Akrokerri Licen.
About this update from Goldstone Resources Limited
[{"type":"text","content":"\n RNS Number : 7613T Goldstone Resources Ltd 04 October 2010 \n \n\nGOLDSTONE RESOURCES LIMITED\n(\"GoldStone\" or \"the Company\")\nACQUISITION: AKROKERRI LICENSE, GHANA\nThe Directors of GoldStone are pleased to announce that the Company has entered into an agreement with AIM-quoted Pan African Resources PLC (\"PAF\") that will lead to the Company obtaining a beneficial interest of 85.1% in the Akrokerri License in Ghana. \nThe Akrokerri License \nThe permit area is approximately 10 km north of Anglo-Gold Ashanti's (\"AGA\") 50 million ounce Obuasi Gold Mine and adjoins AGA's Obuasi eastern border and the southern boundary of GoldStone's Homase permit. The Directors believe that the 27.6 km² permit area covers the structure that controlled the formation of the Obuasi gold deposit, which structure also trends into the Homase license area. Historical exploration demonstrated that the Akrokerri License area contains at least two sites with known gold mineralisation.\nA 2.8 km long gold in soil anomaly indicates that the Homase structure and gold deposit extend into the northern portion of the Akrokerri permit. This was confirmed from the drilling of 110 boreholes for a total of 7,303m along the soil anomaly by Shea Gold Limited (\"Shea\") from 1998 to 2000. Some of the most significant intersects are listed below:\n\n\n\n\nNorthing\n\n\nHole\n\n\nFrom (m)\n\n\nTo (m)\n\n\nWidth (m)*\n\n\nAu Grade (g/t)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n53,000\n\n\n99AKRC058\n\n\n9\n\n\n24\n\n\n15\n\n\n2.27\n\n\n\n\n52,900\n\n\n99AKRC044\n\n\n11\n\n\n41\n\n\n30\n\n\n2.09\n\n\n\n\n52,680\n\n\n99AKRC003\n\n\n24\n\n\n34\n\n\n10\n\n\n2.14\n\n\n\n\n52,300\n\n\n99AKRC078\n\n\n36\n\n\n47\n\n\n11\n\n\n4.76\n\n\n\n\n52,180\n\n\n99AKRC052\n\n\n39\n\n\n49\n\n\n10\n\n\n2.47\n\n\n\n\n \n* The widths given in the table do not reflect the true widths of the mineralisation.\n \nThe distances between the drill fences along the trend increase from 100 metres in the north to 400 metres in the southern portion. The Directors believe that drilling between the widely spaced drill sections and below the known extent of the mineralisation adds exploration upside and resource potential to the permit which, if successfully explored, will enhance the value and potential of Gold...