Overview
Stage | Production |
Mine Type | Open Pit |
Commodities |
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Mining Method |
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Production Start | ... |
Mine Life | 2027 |
The project hosts two former mines, the Akrokerri Ashanti Mine Ltd, which produced 75,000 oz gold in the early 1900s, and the Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,000 oz gold. Production is currently focussed on the Homase Mine.
Mining started at the Homase mine in 2021, and commercial production commenced in January 2022.
As of 03 January 2024 Goldstone Resources Ltd announced that it has agreed a standstill arrangement with Asia Investment Management Services Limited ("AIMSL") in respect of the gold loan agreement dated 19 June 2020 between the Company (as borrower) and AIMSL (as lender).
The data regarding the production and economic indicators of the Homase mine for the year 2022 and the first half of 2023 has not been released. |
Source:
p. 1
GoldStone Resources Limited, listed on AIM (Alternative Investment Market) as GRL, is a mining and development company that operates in Ghana. The company has various projects in Ghana, including the Homase Mine.
Contractors
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Deposit Type
- Sedimentary - Volcanogenic
- Vein / narrow vein
Summary:
The property is underlain by the Ashanti gold belt, one of the world’s most significant Proterozoic gold belts discovered to date. The belt is the most prominent of the five Birimian Supergroup gold belts found in Ghana and is predominantly comprised of sedimentary and mafic volcanic rocks. The Brimian terranes in the southern part of the West African craton are several different volcano-sedimentary formations including metamorphosed volcanic, sedimentary and plutonic rocks and low-grade metavolcanics and metasediments. Two types of granite are present, one is more resistant to weathering than the other, with the less-resistant granite containing gold mineralization.
Mineralized shears are found close to the contact with harder metamorphosed and metasomatically altered geology forming the Upper Birimian volcanics. Two main ore types are present at AKHM hosted within quartz veins and sulphide ores. Subsurface investigation within the mineralized trend undertaken by Ashanti Goldfields revealed a wide zone of shear about 800m long, 14m wide between 255m and 70mRL elevation. Shear mineralized zone metasediments dip sub-vertical or steeply to the NW and strike NNE.
Comparable features of Birimian mesothermal gold mineralization between Obuasi and AKHM (Akrokeri-Homase) include quartz veins and mineralization in graphitic shear zones, along with visible gold occurring in fractures within a quartz veins. Most of the gold is contained between these graphite-ric ........
Summary:
The Homase Mine, set within its AKHM project in Ghana, consists of five open pits, targeting the oxide resource to a vertical depth of 30 metres.
On 27 January 2023, the Company set out its plans to improve production utilising the proceeds from the issue of its £2.4m Convertible Loan Note. The Company has purchased two second hand 30 tonne excavators, two new front end loaders, a truck crane, TLB, tractor and supporting associated accessories.
In-line with the enhancements to the dry plant, mining commenced in Pit 2 of the Homase Mine in May 2023, with an initial stripping ratio of 3:1, and to September 2023 some 65,300 tonnes of ore have been mined at an inferred grade of 1.1g/t.
Mining production levels forecast for 60,000 tonnes per month of ore, within three months following mine plan revision during Q1 2023.
Flow Sheet:
Summary:
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Production:
Completion of first gold pour at Homase Mine in November 2021.
Commodity | Product | Units | 2021 | Avg. Annual (Projected) | LOM (Projected) |
Gold
|
Payable metal
|
oz
| ...... | | |
Silver
|
Payable metal
|
oz
| ...... | | |
Gold
|
Metal in doré
|
oz
| | 14,400 | 72,000 |
Reserves at September 30, 2019:
Category | Tonnage | Commodity | Grade | Contained Metal |
Measured
|
1.61 Mt
|
Gold
|
2.24 g/t
|
116,000 oz
|
Indicated
|
4.41 Mt
|
Gold
|
1.73 g/t
|
245,000 oz
|
Measured & Indicated
|
6.01 Mt
|
Gold
|
1.87 g/t
|
361,000 oz
|
Inferred
|
4.56 Mt
|
Gold
|
1.64 g/t
|
241,000 oz
|
Total Resource
|
10.6 Mt
|
Gold
|
1.77 g/t
|
602,000 oz
|
Financials:
| Units | 2021 |
Revenue
|
M USD
| ...... |
Operating Income
|
M USD
| ...... |
Mine Management:
Job Title | Name | Profile | Ref. Date |
.......................
|
.......................
|
|
Dec 17, 2023
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