MM: Can you expand a little on the significance of today's JORC announcement?
HS:We have been pleasantly surprised by the fact that 81% of the resource is in the indicated and measured categories. The higher valuation and measure of confidence ascribed to such a resource as opposed to a majority inferred resource is not something we expected at this early stage. What’s interesting is that it appears that the market does not understand the different values ascribed to the categories and the measure of confidence one can assume for a measured resource as opposed to an inferred resource.
MM: What do these results contribute to your understanding of the resource?
HS:The fact that 81% of the resource was classified in the indicated and measured categories and that the ore is within 200 meters of the surface indicates that an enlarged resource can potentially be exploited by open pit mining methods. Before we however start to think of scoping studies we would have to upgrade the resource to at least 600,000 ounces or more. Given the obvious exploration targets below the present resource and along strike, this is a realistic aim. Under the pit high grade ore shoots were identified and, following the geological Obuasi model where present day mining activities have reached a depth of close to 2000m, these shoots are likely to extend to larger depths. The continuation of the mineralisation along strike is indicated by a gold in soil anomaly. Both targets will be the focus of future exploration.
MM: What does the planned Homase exploration programme entail and what is the broad timetable for completion?
HS:The first exploration step will an airborne geophysical survey (subject to board approval) which is suitable to survey zones of higher conductivity in the rocks below far below the surface. One has to understand that the mineralised rocks at Homase are more conductive then than other rocks in the area. Therefore the survey will allow us to see to what extent and where the high grade ore shoots continue to depth. Drilling will be targeted at higher conductivity zones which connect to known high grade ore shoots close to surface and will comence this year.
MM. Is Homase the priority for Goldstone Resources and to what extent are you planning to conduct exploration at Manso Amenfi (Ghana) and Sangola (Senegal)?
HS:Homase currently is our flag ship project and we’d concentrate a lot of attention to it but at the same time we believe that Manso Amenfi and Sangola are extremely exciting prospects that beg to be worked on. Both these projects would require, comparatively speaking, less funds for exploration but could yield early indications of prospectivity.
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