Summary

Mine Type	Open Pit
Status	Active
Commodities	Gold Silver
Mining Method	Truck & Shovel / Loader
Production Start	...
Mine Life	...
Snapshot	The Homase Mine, discovered in 1998 by Shea Gold Limited and acquired by AngloGold Ashanti in 2000, was brought into production in 2002/03. The project also includes the Akrokerri Ashanti Mine Ltd, which produced gold in the early 1900s. The production is focused on the Homase Mine, while the GoldStone aims to build a portfolio of high-quality gold projects in Ghana. In 2023, the Company elected to suspend mining in order to evaluate processing options. In January 2023, the Company raised £2,400,000 via a convertible loan note to upgrade equipment and infrastructure at the Homase Mine. Mining and stacking recommenced in June 2023. As of 15 January 2025, the production ramp up continues to advance, with a 48,000 tonnes per month of agglomerated stacked ore in November and December 2024, and this stacking rate is expected to be maintained over the coming months.

Deposit type

• Sedimentary - Volcanogenic
• Vein / narrow vein
• Mesothermal

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-rich shears and thin quartz-chlorite units within sheared metasediments.

Mining Methods

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Comminution

Crushers and Mills

Processing

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Commodity Production

Commodity	Product	Units	2023	2022	2021	Avg. Annual (Projected)	LOM (Projected)
Gold	Payable metal	oz	....	....	....
Silver	Payable metal	oz			....
Gold	Metal in doré	oz				14,400	72,000

Operational metrics

Metrics	2023
Stripping ratio	....

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Jan 16, 2024