Updated August, 27th 2010.
We have one more sleeping beauty for our Summer 2010 collection - Goldstone Resources - Premier Gold is drilling Hardrock property like a Swiss cheese and pulling up one gold intersections better that the other every time, deposit will grow in its size by the next resource estimation. Why the stock is performing so miserably even with Gold at the all-time-high? Other shareholders maybe know the answer:
Things are boiling up in this junior, hopefully steam will be released soon with share price to the upside.
Goldstone director comments on exploration halt
2010-08-27 09:13 ET - News Release
Mr. Philip Cunningham reports
PHILIP CUNNINGHAM RESPONDS TO GOLDSTONE NEWS RELEASE REGARDING EXPLORATION DRILLING HALT
Philip Cunningham, a director and the largest shareholder of Goldstone Resources Inc., today questioned information relayed by the news release issued yesterday by Goldstone which announced that the company's geologists at its Key Lake property had resigned following Mr. Cunningham's delivery to Goldstone and its board of directors of a requisition for a special meeting of shareholders.
"At the outset, it is important to note that the news release was issued without being reviewed by, and without the approval of, the board of directors of Goldstone," Mr. Cunningham stated. "In addition, the decision to halt exploration drilling at the Key Lake property was not reviewed with the board. Unfortunately, this is common practice."
Mr. Cunningham added: "The clear intent of the Goldstone news release is to infer that the resignations of the contract geologists were caused by, or are somehow related to, the delivery of my requisition. This disclosure is highly misleading. I have been informed that the simple truth is that the contract geologists had raised certain concerns with management over a period of months which culminated in a meeting on Friday, Aug. 20, 2010, between management and the geologists. At this meeting, the geologists informed management that, if their concerns and frustrations were not resolved, they would resign. As a result, on Monday and Tuesday of this week, the geologists left the company."
Goldstone director Cunningham seeks director changes
2010-08-23 16:18 ET - News Release
Mr. Philip Cunningham reports
PHILIP CUNNINGHAM REQUISITIONS MEETING OF SHAREHOLDERS OF GOLDSTONE RESOURCES INC.
Goldstone Resources Inc.'s director and largest shareholder, Philip Cunningham, has delivered to Goldstone and its board of directors a requisition for a special meeting of shareholders, pursuant to Section 105(1) of the Business Corporations Act (Ontario). The meeting has been requisitioned for the purpose of removing Gary Conn and Alan Ferry from the board as well as to fill the resulting vacancies by electing Morris Prychidny, a financial consultant, and Paul F. Little, president of Westover Investments Inc.
Mr. Cunningham owns and controls 10,881,110 common shares of Goldstone, representing approximately 11.1 per cent of the outstanding common shares."
Premier Gold drills 16.5 m of 3.16 g/t Au at Hardrock
2010-08-25 10:21 ET - News Release
See News Release (C-PG) Premier Gold Mines Ltd
Mr. Ewan Downie reports
PREMIER - DRILLING CONTINUES TO EXPAND NEAR-SURFACE GOLD ZONES AT HARDROCK
Drilling continues to delineate significant near-surface gold mineralization in multiple zones at Premier Gold Mines Ltd.'s Hardrock project in Northwestern Ontario. Current drilling is focused on expanding and defining near-surface, open-pit-style mineralization, in addition to defining multiple zones of higher-grade mineralization that are expected to comprise resources amenable to underground mining methods. Highlights from recent drilling include:
The identification of two primary high-grade lenses within the NN zone horizon. Intersections in the newly identified East lense have returned up to 13.05 grams per tonne gold (g/t Au) across 4.1 metres (m) or 0.38 ounce per ton across 13.5 feet.
Infill and expansion drilling further defines the EP zone (open pit) target, with intersections of up to 3.16 g/t Au across 16.5 m (0.09 ounce per ton across 54.1 feet), 7.1 g/t Au across nine m (0.21 ounce per ton across 29.5 feet) and 5.43 g/t Au across 10.2 m (0.16 ounce per ton across 33.5 feet).
Deep drilling in the North and F zones continues to intersect impressive gold values, suggesting excellent resource potential proximal to and below existing mine workings. Further results from this drilling are expected in the near future.
NN zone drilling
The near-surface portion of the NN zone has now attained a strike length of approximately 600 metres. Recent drilling has been focused on defining narrower, underground-style mineralization down plunge and at depth below the previously announced, near-surface, NI 43-101 resource estimate at Hardrock. Of particular significance, drilling has identified two lenses of higher-grade gold mineralization, both of which remain wide open for expansion. Highlight intersections include 13.05 g/t Au across 4.1 m (0.38 ounce per ton across 13.5 feet) in hole MM160 from the new eastern high-grade lense that was identified when following up a previously drilled intersection of 4.93 g/t Au across 10.5 m (0.14 ounce per ton across 34.4 feet), and previously announced intersections within the main NN zone that returned 22.97 g/t Au across 24.8 m (0.67 ounce per ton across 81.4 feet) and 8.14 g/t Au across nine m (0.24 ounce per ton across 29.5 feet). Follow-up drilling down plunge of these intersections is under way. New drill results from the NN zone are contained in the relevant table.