So Goldstone has a £3.8 billion company working for it!RNS...

So Goldstone has a £3.8 billion company working for it!




RNS Number : 6655H

Goldstone Resources Ltd

24 June 2013



?


GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")



COMMENCEMENT OF DRILLING PROGRAMME AT SANGOLA

GoldStone (AIM: GRL), the AIM quoted exploration company focused on gold in West and Central Africa, is pleased to announce that drilling has commenced at the Company's Sangola project in Senegal, where it has a joint venture with Randgold Resources (Senegal) Limited ("Randgold").

Since being granted a decree in October 2010, the Company has identified a number of surface anomalies on the Sangola licence. Notably three major elongated surface anomalies, Baraboye, Tiabedji and Tiobo were identified, of which the Tiabedji anomaly was partly explored by drilling during 2012. Randgold has now commenced a 6,000 metre reverse circulation drilling programme, targeting the Tiobo surface anomaly.

BACKGROUND

The Company announced on 8 April 2013 that it had concluded a joint venture agreement with Randgold with the purpose of exploring the Sangola licence. Under the agreement, Randgold will fund all the costs of exploration up to and including the completion of a pre-feasibility study indicating that the mining of at least 1Moz of gold is economically feasible. Under the terms of the joint venture the Company will own 49% of the project on reaching pre-feasibility.