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Homase licence survey results
Homase licence survey results.
About this update from Goldstone Resources Limited
[{"type":"text","content":"\n RNS Number : 1732S Goldstone Resources Ltd 06 September 2010 \n\n \nGOLDSTONE RESOURCES LIMITED\n(“GoldStone” or the “Company”)\nVTEM Results: Homase Project\nExtension of Prospecting Licence\nGoldStone (AIM: GRL), the AIM quoted company focused on gold in West Africa, is pleased to announce that it has received positive results from its recent VTEM (Versatile Time-Domain Electromagnetic) geophysical survey over sections of the Homase Licence in Ghana. \n \nThe VTEM survey was conducted by Geotech Airborne Limited and was mainly carried out over the southern part of the Homase Licence in Ghana, in particular over the previously mined Homase pits area. \n \nIn addition, confirmation has been received from the Minerals Commission of Ghana that the prospecting licence at Homase, in which GoldStone currently holds a 51% interest, has been extended for a further 12 months.\n \nSTRUCTURE CONFIRMED\n \nThe VTEM survey was successful in establishing that the structure and main trend that is believed to control the gold mineralisation at Homase, extends to the north east and the south west along strike of the Homase ore body and to considerable depth, potentially below 600m. The depth capability of a VTEM survey is up to 600m depending on the surface conductivity.\n \nThe gold mineralisation at Homase appears to be associated with zones of slightly reduced conductivity. This is generally thought to be prospective for gold mineralisation in West Africa and may be related to zones of silicification within the Birimian formation, such as at Homase.\n \nNEW TARGETS IDENTIFIED\n \nSeveral new exploration targets, some of which exhibit reduced conductivity and others that display a distinct electromagnetic signature have been identified by the VTEM survey. The airborne survey identified a conspicuous VTEM anomaly at Adubrim, which corresponds with a gold in soil anomaly. Adubrim is located approximately 1.5 km north west of the northern Homase Pit. The VTEM anomaly at Adubrim has a north east - south west strike, which is parallel to the main structure at Homase. It appears to have a strike length in excess of 3.5 km and is open to the south. The shape, magnitude and depth extent of the Adubrim anomaly is identical to that observed over the known mineralised zones at Homas...