Business
Update
Update.
About this update from Goldstone Resources Limited
[{"type":"text","content":"\n Goldstone Resources Ltd\n16 December 2005\n\n\n\n GOLDSTONE RESOURCES LIMITED\n\n COMPLETION OF SOIL SAMPLING PROGRAMME AND APPLICATION FOR PROSPECTING LICENCES\n\n\n\nThe Directors of GoldStone Resources Limited ('GoldStone' or the 'Company') are\npleased to provide the following update on the gold programme in Guyana.\n\n\n\nThe Company has completed the geochemistry and mapping programme which commenced\nin October 2005. The analytical results of the programme, which are expected to\nbe received during January 2006, will assist the Company to identify the most\nprospective area for infill drilling.\n\n\n\nGoldStone has applied to the Guyana Geology and Mines Commission ('GGMC') for\nthe granting of 26 Prospecting Licences. The combined size of the Prospecting\nLicences is approximately 478 square miles.\n\n\n\nUnder the terms of the Company's Geological Survey and Reconnaissance\nPermission, which expired on 14 December 2005, the Company is entitled to apply\nfor and be granted 20 Prospecting Licences. 25 of the applications for\nProspecting Licences relate to areas that are within the Company's former\nPermission Area and one borders on that area.\n\n\n\nOnce the applications have been processed by the GGMC, the Directors anticipate\nthat Licences with a term of three years with two additional rights of renewal\nof one year each will be granted. The Licences would become available upon the\npayment of the first year's rental and submission of an acceptable performance\nbond equal to 10 per cent. of the approved budget of the first year's\nexploration expenditure. The Prospecting Licence areas applied for were chosen\non the basis of extrapolated extensions to outcrop of horizontally bedded\ngold-bearing layers intersected during the diamond drilling programme. These\nareas comprehensively encompass all the ground the Company considers to be\nprospective.\n\n\n\n\nContact:\n\nGoldStone Resources Ltd 00 27 21 794 4004\nNico van der Hoven (Chief Executive Officer)\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2313,"tagName":"div"}]