Business
Potential to revitalise the old Akrokeri mine
Potential to revitalise the old Akrokeri mine.
About this update from Goldstone Resources Limited
[{"type":"text","content":"\n \nRNS Number : 3290C Goldstone Resources Ltd 19 January 2018 \n\n19 January 2018\n \nGOLDSTONE RESOURCES LIMITED\n(\"GoldStone\" or the \"Company\")\n \nPotential to revitalise the old Akrokeri mine\n \nGoldStone Resources Limited (AIM: GRL), is pleased to announce that as part of the review of historical data, the Company has initiated a project to potentially revitalise the old Akrokeri underground mine (\"Akrokeri Mine\" or \"Mine\").\n \nThe Akrokeri Mine is situated within the Akrokeri prospecting licence, approximate 1.5 km south of the proposed AK01 South pits, shown in Figure 1. It is recorded by the Ghanaian Minerals Commission that the Akrokeri Mine produced some 75,000 ounces of gold between 1904 and 1909, from about 104,000 tons (94,347 tonnes) of ore, equating to a recovered grade of about 0.73 ozs/t, equivalent to 24g/t. However, the mine closed in 1909, due to a high inflow of water.\n \nThe Mine was developed from two shafts 1,400 feet (426.7 metres) apart, to a maximum depth of some 500 feet (152.4 metres) vertical. The gold bearing quartz vein was recorded as being about 4 feet (1.2 metres) in width and produced free milling non-refractory ore. It is situated within the sediments near the contact of a suite of greywackes/ phyllites and the Akrokeri granite.\n \nTwo drilling campaigns were undertaken by Birim Goldfields Ltd (\"Birim\") in 1996, comprising nine Diamond Drill holes totalling 2,000 metres and, Pan African Resources Ltd (\"Pan African Resources\") in 2008, comprising 10 Diamond Drill holes totalling some 3,200 metres. These holes were located north and south of Akrokeri town along the known quartz vein. From the historic data, it is recorded that the drilling encountered unknown narrow high grade quartz veins within the granite, with samples up to 51g/t. This indicates the potential of a high grade deposit within the entire contact zone (both within the sediments and the granite). \n \nThe review of data and assets in 2017 highlighted that the core was incomplete in the Company's core shed housed at site. GoldStone has managed to locate the entire 5,200 metres of core drilled by Birim and Pan African Resources and has relocated it to its core shed, and re-logging is currently underway and, if appropriate, further a...