UML 0.00% 3.3¢ unity mining limited

operational update from goldstone.

  1. 345 Posts.
    lightbulb Created with Sketch. 29

    Exciting times ahead...............



    Operational Update
    RNS
    RNS Number : 8729E
    Goldstone Resources Ltd
    07 June 2012

    ?

    GoldStone Resources Limited

    ("GoldStone" or the "Company")



    Operational Update





    GoldStone (AIM; GRL) , the AIM quoted exploration Company focussed in West and Central Africa focused gold exploration company, is pleased to provide an operational update on its operations in three countries.



    Highlights:

    · Drill holes at Homase/Akrokerri confirms wide depth extension of gold resource

    · 46 drill holes totalling 13 220 metres completed at Homase/Akrokerri

    · Drilling of 7 440m (354 holes) completed at Sangola over the Thiabedji anomaly

    · High-resolution magnetic and radiometric survey completed in Sangola

    · Drilling to commence shortly in Gabon



    GHANA

    Drill Results

    The Company recently received assay results for five additional drill holes in the Homase/Akrokerri project area. These five holes (marked with an asterisk) are included in a table of drilling results hereunder, which lists all the Company's holes drilled at Homase/Akrokerri since June 2011.

    Drill Hole
    From (m)
    To (m)
    Apparent Width (m)
    Au Grade (g/t)
    True Width (m)

    11HMRD001
    159.0
    172.6
    13.6
    5.9
    11.2

    Including


    8.3
    7.2
    6.8

    11HMRD002
    158.0
    171.0
    13.0
    6.4
    10.1

    Including


    10.0
    8.2
    8.2

    11HMRD003
    181.0
    189.5
    8.5
    9.5
    5.8

    11HMRD004
    142.0
    150.0
    8.0
    4.9
    6.3

    Including


    6.0
    6.5
    4.7

    11HMRD005
    177.0
    190.0
    13.0
    4.7
    9.2

    Including


    6.5
    8.9
    4.6

    11HMRD006
    201.0
    204.0
    3.0
    0.8
    1.7

    11HMRD007
    226.0
    231.5
    5.5
    4.6
    3.6

    11HMRD008
    232.0
    234.0
    2.0
    1.6
    1.4

    11HMRD009
    190.0
    98.0
    8.0
    3.4
    5.5

    11HMRD010
    173.4
    175.0
    1.6
    1.4
    0.8

    11HMRD011
    157.0
    225.4
    68.4
    1.5
    28.9

    Including


    22.4
    3.0
    9.2

    11HMRD012
    212.0
    219.8
    7.8
    0.9
    5.6

    11HMRD013
    218.0
    227.0
    9.0
    1.7
    5.9

    11HMRD014
    Abandoned

    11HMRD015
    252.0
    258.0
    6.0
    4.9
    4.3

    Including


    3.2
    8.4
    2.3

    11HMRD016
    295.0
    308.6
    13.6
    4.4
    10.4

    Including


    5.4
    7.9
    4.1

    11HMRD017
    237.0
    248.0
    11.0
    11.1
    8.1

    11HMRD018
    Abandoned

    11HMRD019
    275.0
    280.0
    5.0
    6.7
    4.0

    11HMRD020
    268.0
    281.0
    13.0
    6.1
    9.7

    11HMRD021
    223.0
    259.0
    36.0
    0.9
    18.5

    12HMRD001
    187.0
    201.0
    14.0
    3.8
    6.4

    Including


    8.3
    5.9
    3.8

    12HMRD002
    211.0
    225.0
    14.0
    1.6
    9.3

    12HMRD003
    163.0
    173.0
    10.0
    2.1
    7.1

    Including


    6.0
    3.0
    4.2

    12HMRD004*
    229.0
    231.0
    2.0
    0.8
    1.4

    12HMRD005
    Assays Pending

    12HMRD006
    Assays Pending

    12HMRD007*
    133.4
    157.8
    24.4
    1.4
    15.7

    Including


    7.0
    3.3
    4.5

    12HMRD008
    Assays Pending

    12HMRD009
    Assays Pending

    12AKDD001
    Assays Pending

    12AKDD002*




    42.6
    44.0
    1.4
    1.5
    N/A

    156.0
    156.4
    0.4
    3.0
    N/A

    295.0
    298.1
    3.1
    4.3
    N/A

    12AKDD003*


    50.6
    52.8
    2.2
    1.9
    N/A

    157.0
    158.2
    1.2
    0.8
    N/A

    12AKDD004*


    116.1
    118.3
    2.2
    1.7
    N/A

    309.0
    311.1
    2.1
    6.1
    N/A

    12AKDD005
    Assays Pending

    12AKDD006
    Assays Pending

    12AKDD007
    Assays Pending

    12AKDD008
    Assays Pending

    12AKDD009
    Assays Pending

    12AKDD010
    Assays Pending

    12AKDD011
    Assays Pending

    12AKRD012
    Assays Pending

    12AKDD013
    Assays Pending

    12AKDD014
    Assays Pending

    12AKRD015
    Assays Pending

    12AKDD016
    Assays Pending






    Of particular note is drill hole 12HMRD007, which intersected gold mineralisation approximately 200 metres below the surface for 15.7 m @ 1.4 g/t including 4.5 m @ 3.3 g/t. This intercept is south of drill hole 11HMRD011 which intercepted gold mineralisation for 28.9 m @ 1.5 g/t reported in October 2011. This new intercept confirms that a wide depth extension of GoldStone's JORC compliant gold resource exists under the southern portion of the Homase pit.

    Drill holes 12AKDD002 (1.4 m @ 1.5 g/t, 0.4 m @ 3.0 g/t and 3.1 m @ 4.3 g/t) and 12AKDD003 (2.2 m @ 1.9 g/t and 1.2 @ 0.8 g/t) targeted gold mineralisation along the north-west trending structures associated with artisanal gold mining activity in the Akrokerri granite and confirmed multiple, south-west dipping and gold-bearing quartz veins in the granite.

    Drill hole 12AKDD004 intersected the Akrokerri quartz vein, from which 75,000 ounces of gold at an average grade of 24 g/t were mined by colonial miners from 1900 to 1909, approximately 250 metres below the surface and yielded 2.1 metres @ 6.1 g/t. Drill hole 12AKDD006, for which assay results are still pending, intersected the same quartz vein approximately 200 metres below the surface. The Company's geologists are presently evaluating its geological data base in order to model the consistency and geometry of this quartz vein and to determine if the vein has economic potential. More drilling will be directed at the vein if the outcome is positive.

    All results from the follow-up soil sampling programme over the Adubrim structure have been received and further demonstrated gold mineralisation along this structure. Pits along two lines across this structure are presently excavated and will be sampled in due course.

    A helicopter has been mobilised to Homase to execute an airborne VTEM (Versatile Time-Domain Electromagnetic) survey over large parts of the Homase/Akrokerri project area. The purpose of the survey is to map potential strike extensions of the mineralised Homase trend in order to identify further drill targets.

    Since June 2011, when the drilling programme at Homase/Akrokerri commenced, 46 drill holes totalling 13 220 metres have been completed. Drilling operations will be suspended shortly in order to evaluate exploration results, collate and assimilate data (including VTEM-data) and plan the next phase of drilling.

    Pending Resource Upgrade

    The Company recently commissioned SEMS Exploration Services Limited to use the results of 23 drill holes (11HMRD001 to 12HMRD004) to update the company's JORC compliant gold resource. Assay results from an additional 15 completed drill holes targeted at depth extension of the gold resource are still pending and will form part of a future update of the resource estimate intended to occur later this year.






    SENEGAL

    Rotary Air Blast drilling of the Thiabedji gold anomaly in the centre of the Company's Sangola permit commenced on the 10th of May and since then 354 drill holes for a total of 7 440 metres have been completed to test the rooting of this surface anomaly. Weather conditions permitting and subject to further drill rig availability, the Company will also drill test selected portions of the Baraboye anomaly in the northern part and the Tiobo anomaly in the eastern part of the permit.

    Recently detected gold in stream sediment anomalies in the northern part of the permit will be followed up with further surface sampling from December 2012 to coincide with the next dry season. A total of 257 samples taken from prospective rocks outcropping in the Thiabedji area have been received in Dakar and will be shipped to a South African laboratory in the near term.

    Xcalibur Airborne Geophysics (Pty) Ltd recently completed an airborne high-resolution magnetic and radiometric survey covering the entire Sangola permit. The Company expects the results of this survey during June and is optimistic that the interpretation of the data will significantly add to the understanding of the geology and assist with the definition of further drill targets.



    GABON

    Oyem

    A man-portable modularised drill rig suitable to the terrain of both the Oyem and Ngoutou licenses has landed in Libreville and is in the process of being cleared through customs. The South African drill crew will leave for Gabon as soon as the rig is ready to be mobilised to Oyem. The rig will be used to execute an initial 3,000 metre diamond drilling programme to test the central part of the fifteen kilometre long Oyem gold in soil anomaly, which covers a splay off a well-known regional geological structure and gold-prospective Archean rocks.

    Confirmatory and in-fill soil sampling conducted by the Company over the central part of the anomaly clearly confirmed earlier results attained by a European Union sponsored government survey. Elevated gold in soil values indicate that the width of the anomaly is 400 metres.

    The camp at Oyem has been completed and 10 drill pads have been prepared for the upcoming drilling programme.

    Ngoutou

    At Ngoutou, initial confirmatory and in-fill soil sampling along three lines across the centre of the 15 km long gold in soil anomaly (XXX samples) has been completed with results pending. Geological mapping, pitting and line cutting is on-going. Access to the centre of the anomaly has been improved significantly via a recently constructed logging road which crosses the anomaly.






    GENERAL

    The Company has employed Johan Ingwersen as Exploration Manager. Johan is a professional exploration geologist with over seventeen years experience in exploration, some of which he has spent as Senior Exploration Geologist for Randgold Resources Ltd during the discovery phase of the Tongon Gold Deposit. He also comes with project evaluation and hands-on gold exploration experience in the most prominent West African gold destinations. In addition, the Company appointed Siaka Traore, as Senior Exploration Geologist for Gabon. Siaka worked for AngloGold Ashanti since 2007 as Exploration Geologist at Sadiola and Yatela Gold Mines in Mali, West Africa.



    APPROVAL

    Dr. Hendrik Schloemann, who holds a PhD in geology, has reviewed and approved the geological content of this announcement.



 
watchlist Created with Sketch. Add UML (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.