Overview of GoldStone
Bendigo Mining acquired 20% of GoldStone Resources Limited on 7 May 2010.
GoldStone is an AIM-listed West African gold exploration company. GoldStone has a successful and experienced management team based in South Africa. The core management team of Jurie Wessels (CEO) and Dr Hendrik Schloemann (Exploration Director, ex-Harmony West Africa) have assembled a highly prospective package of properties in West Africa.
The Company’s key asset is the Homase project in the Ashanti Gold Belt in Ghana, where GoldStone may earn up to an 85% interest. The GoldStone public release on 21 April 2010 announced a 282,608 oz gold resource, estimated in accordance with JORC guidelines, beneath and along strike from the Homase main pit. This now abandoned pit was mined by AngloGold Ashanti in 2002 and 2003 during a time of low gold prices. The lease area is believed to have excellent exploration potential and is located some 15 km NE of AngloGold Ashanti’s Obuasi Gold Mine.
Other GoldStone assets include the Manso Amenfi licence in Ghana, which GoldStone believes is prospective as it lies along a trend of intense artisanal gold mining and in a similar belt of rocks to Perseus’s Ayanfuri gold deposit, located some 50 km to the northeast. The Company also has a large 471 km² exploration license in Senegal near the border with Guinea. The ground is to the south of Randgold’s licence containing the 3.4 Moz Masawa discovery and along trend from Sabodala (2.2 Moz), Yatela (2 Moz) and Sadiola (10 Moz) mines.
For further details on GoldStone please visit their website www.goldstoneresources.com
