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JORC Compliant Resource Estim
JORC Compliant Resource Estim.
About this update from Goldstone Resources Limited
[{"type":"text","content":"\n RNS Number : 5144K Goldstone Resources Ltd 21 April 2010 \n \n\nGOLDSTONE RESOURCES LIMITED\n(\"GoldStone\" or \"the Company\")\n \nJORC COMPLIANT GOLD RESOURCE ESTIMATE FOR THE HOMASE JOINT VENTURE PROJECT, ASHANTI GOLD BELT, GHANA\n \nJORC RESOURCE\n \nThe directors of GoldStone are pleased to announce that it has received a mineral resource estimation (\"the Estimate\") which is compliant with the Joint Ore Reserves Committee of Australasia (JORC) reporting code for the Homase Joint Venture Property (\"Homase\"). The Estimate has been compiled by SEMS Exploration Services Limited, an independent West African based firm of consulting geologists, engineers and surveyors.\n \nThe total gold resource is 6.32 million tonnes of ore at an average grade of 1.4 g/t gold, containing 282,608 ounces of gold. Results of the Estimate, for which a cut off of 0.5 g/t gold was applied, are summarised below:\n \n\n\n\n\n\n\n\nTonnage\n\n\nGrade\n(g/t)\n\n\nContained Gold\n(ozs)\n\n\n\n\nMeasured\n\n\n3,032,617\n\n\n1.61\n\n\n157,298\n\n\n\n\nIndicated\n\n\n1,699,102\n\n\n1.33\n\n\n72,531\n\n\n\n\nMeasured and Indicated\n\n\n4,731,718\n\n\n1.51\n\n\n229,829\n\n\n\n\nInferred\n\n\n1,585,282\n\n\n1.04\n\n\n52,779\n\n\n\n\nTOTAL\n\n\n6,317,000\n\n\n1.39\n\n\n282,608\n\n\n\n\n \nApproximately 30% of the resource is contained in oxidised ore (see the table below) and the balance within the transitional and sulphide zones. The overall metallurgical recoveries assigned to Homase ore by previous explorers were 93% for the oxide material and 84% for the sulphide zones.\n \n\n\n\n\n\n\n\nTonnage\n\n\nGrade \n(g/t)\n\n\nContained Gold\n(ozs)\n\n\n\n\nOxide\n\n\n1,821,244 \n\n\n1.48\n\n\n86,542 \n\n\n\n\nFresh\n\n\n4,495,757 \n\n\n1.36\n\n\n196,066 \n\n\n\n\nTOTAL\n\n\n6,317,000 \n\n\n1.39\n\n\n282,608 \n\n\n\n\n \n \nEXPLORATION POTENTIAL\n \nThe Estimate identified high grade shoots which may continue to plunge steeply beyond their currently known extent of 150 metres below the bottom of the Homase main pit, which was mined by AngloGold Ashanti during 2002 and 2003. The Directors believe the Homase License covers the same structure that controlled the formation of the 42 million ounce Obuasi gold deposit which has been exploited at surfa...