Formed late in 2009 by the merger of Ontex Resources Ltd. and Roxmark Mines Ltd, the company benefits from extensive existing infrastructure above and below ground including an upgraded, fully-permitted mill. In addition to gold resources and exploration targets on its 100% owned properties, Goldstone enjoys a 30% carried interest in The Hardrock Project, a joint venture with Premier Gold Mines Limited as operator.
Goldstone’s Brookbank and Northern Empire Mine properties both have NI 43-101 compliant resource estimates, containing a combined total of indicated and inferred resource in excess of one million ounces of gold. Overall, the ten formerly productive mines on Goldstone lands — including the Leitch Mine, at one time, Canada’s richest — produced in excess of 4 million ounces of gold, remained open at depth, and offer major untapped potential through extensions and parallel occurrences.
Goldstone is currently planning an aggressive, multi-rig drilling program for 2010 and awaiting a NI 43-101 report to be issued early in the year by Premier Gold Mines, summarizing results of the exploration and drilling efforts on The Hardrock Project.
Goldstone Resources Inc trades on the Toronto Stock Exchange under the symbol GRC
Learn more about Ontex Resources Ltd.
Learn more about Roxmark Mines Ltd."
Premier Gold - Deep drilling at Hardrock intersects high grade gold including 10.05g/t (0.29 oz/ton) gold over 24.2m (79.4 feet)
Shares Issued: 84,452,179
THUNDER BAY, ON,
North Zone Deeps ----------------
All holes drilled to test the down-dip potential of the mine have intersected multiple zones of gold mineralization to 100 metres below the mined portion of the North Zone. Significant intercepts include:
- 39.20 g/t Au across 4.8 m (1.14 oz/ton gold across 15.7 feet) in MM050 - 18.86 g/t Au across 3.3m (0.55 oz/ton across 10.8 feet) in MM050A - 21.90 g/t Au across 1.5m (0.64 oz/ton across 4.9 feet) in MM079 - 8.41 g/t Au across 22.9m (0.25 oz/ton across 75.1 feet) including 15.95 g/t Au across 8.1m (0.47 oz/ton across 26.6 feet) in MM079A - 10.05 g/t Au across 24.2m (0.29 oz/ton across 79.4 feet) including 20.76 g/t Au across 5.4 m (0.61 oz/ton across 17.7 feet) in MM079B
Stephen McGibbon, Premier's Executive VP and COO, said, "Hardrock continues to exceed even our optimistic expectations. These solid results bode well for our forthcoming resource estimate and our ongoing aggressive drilling program. During 2010 we are eager to continue to further outline both the open pit and underground potential of Hardrock."
Table 1 below provides a full summary of significant results from the deep drill program received to date. Ongoing drilling will continue to step out down-plunge to the west in an effort to further define the potential of the North Zone deposit.
The longitudinal section in Figure 1 profiles the location of the new deep drill intersections in relation to the bottom (2000 foot) level of the mine. The North Zone was previously mined to a depth of 610 metres (2,000 feet) with production of 2.97 million tons at a recovered grade of 0.22 oz/ton (7.54g/t Au). This drilling demonstrates that this zone remains wide open for expansion at depth.
A full presentation detailing the location of this deep drilling is available at the Company's website http://www.premiergoldmines.com/."