Thursday, November 04, 2010

Gold in Canada: Goldstone operator drills 114 m of 7 g/t Au at Hardrock, tnr.v,, bvg.c, bva.v,, ktn.v, gbn.v,, mgn, asm.v, sgc.v,, btt.v,, nem, fcx, bvn, auy, abx,

It was worth waiting for, we have a best result to date from Hardrock property - Premier Gold drilled there 7.92 Au g/t across 114.5 m! Golstone Resources is breaking out to the upside today on volume.

"The End of MoneyGold will be go much higher from here, it will not be the straight line, but every set back will provide an investment opportunity in Gold and Silver space. We will share with our thoughts and companies we like and you will be cautioned to make your own DD as usual.
Next stage will be fight for the resources and M&A activity at all stages of investing in Gold mining cycle. With rising Gold price and inflated paper Majors will shop for juniors to buy time and gold in the ground. Jim Puplava will be a very good narrator to all our travel maps and reports about our journey. With rising gold, price price of physical gold will become even more prohibitive, we do agree with Jim that people will start to buy gold mining shares again with their easy to run discount brokerage accounts."

"Very interesting: Goldstone Resources has  found another reason to be acquired by Premier Gold - 44m of 3.17 g/t intersection at "The Key Lake property is contiguous to the Premier Gold/Goldstone Resources Hardrock project where diamond drilling by the company's partner, Premier Gold Mines Ltd., has established a significant gold resource at surface as well as high-grade intersections at depth."


2010-11-04 10:18 ET - News Release

Mr. Philip Cunningham reports


Goldstone Resources Inc. operator Premier Gold Mines Ltd. has delineated significant gold mineralization in multiple horizons at the Hardrock joint-venture project in Northwestern Ontario. There are currently 11 drill rigs operational on the property, testing for extensions of previously mined zones and exploring new target areas. Goldstone holds a 30-per-cent carried interest in the Hardrock project.
Recent highlights include:
  • 7.92 grams per tonne gold across 114.5 metres including 23.56 g/t Au across 31 m in hole MM179C conducting initial resource-confirmation drilling in the F zone;
  • 18.49 g/t Au across 20.5 m in hole MM170 located approximately 500 m west of the limits of previous exploration;
  • Recent exploration drilling has intersected strong mineralization in new areas on the property, and assays are expected in the near future.
"We have ramped up our drilling due to unparalleled success in multiple areas. Expansion of historically mined zones and multiple new discoveries are expected to add materially to the current gold resource at Hardrock," stated Ewan Downie, President and CEO of Premier. "This continued success demonstrates the potential to define a multi-million ounce gold deposit".
"We continue to be gratified by results at the joint venture with Premier, while aggressively pursuing drilling programs on our 100%-owned properties in the Geraldton-Beardmore camp, including the Key Lake property, contiguous to the Hardrock Project," added Philip Cunningham, Goldstone Chairman and Interim CEO.
F Zone Resource Delineation
The F-Zone is the largest of the past-producing mine zones at Hardrock which produced more than 1.4 million ounces utilizing bulk underground methods with widths often exceeding 30 metres (100 feet). Importantly, when the mine closed in 1960's, a 600-metre plunge length of ore was left unmined. Hole MM179C is the first of several holes to confirm this mineralization and upgrade it to NI43-101 resource standards (see Figure 1 and Table 1) This intercept returned the following assays:


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