GoldStone pleased with development progress at Sierra Leone project
Aim-listed GoldStone Resources says significant progress is being made by MinCorp – a private company in Sierra Leone developing several small-scale gold mining licences – in establishing operations.
Since preparatory work started on site in March, MinCorp has installed and commissioned a wash plant, which has identified visible coarse gold that provides some encouragement of the potential of the licence area.
An excavator has also been deployed to improve access, clear vegetation and prepare the site for the start of small-scale mining and processing activities.
"While the commissioning process remains ongoing and the material has not yet been sampled and monitored under controlled operating conditions, the identification of visible coarse gold through the wash plant is nonetheless a highly encouraging indicator of the licences' potential. We are eager to complete commissioning and commence small-scale mining production," says GoldStone CEO Emma Priestley.
GoldStone holds a 50% equity interest in MinCorp and has seconded local management and technical personnel to support MinCorp during the establishment of mining and processing activities and to assist with the ongoing optimisation of the operations.
"We believe this investment in Sierra Leone complements our existing production asset in Ghana and aligns with our strategy of expanding our operational footprint in West Africa. We look forward to providing further updates from both operations in the coming weeks," Priestley says.
GoldStone will receive 100% of revenue derived from sales for the first 70 oz of refined gold from the licences.
The Aim-listed company produces gold from its Homase mine, in Ghana.
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