Make Kitco Your Homepage

GoldStone pours first commercial ounces at Ghana's newest gold mine

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - GoldStone Resources (AIM: GRL) announced Tuesday that it has now successfully completed its first commercial gold pour at the Homase mine in the Ashanti Gold Belt in Ghana. 

The company said that the first pour was completed during the commissioning of the Smelt House this week, which followed the commissioning of the Elution Plant announced on 1 November 2021. The company's first smelt and gold pour produced gold bars weighing, in aggregate, 14.46kg (approximately 464.90 troy ounces).

In the context of COVID-19 related restrictions, and if conditions permit, the company said it will be hosting an on-site inauguration ceremony of Ghana's newest gold mine with Ghanaian Government authorities early next year.

CEO Emma Priestley commented, "Now that we have managed to successfully complete the transition into a gold producer, we will focus our efforts on ramping up the project to full operations as efficiently as possible, by continuing ramp-up of stacking to the Heap Leach and optimisation of the processing plant."

Discovery Silver delivers 'excellent' project economics for Cordero with after-tax NPV of $1.2 billion

GoldStone is focused on developing the Akrokeri-Homase project in south-western Ghana, which hosts a JORC Code compliant 602,000 oz gold resource at an average grade of 1.77 g/t. 

The project hosts two former mines, the Akrokerri Ashanti Mine Ltd, which produced 75,000 oz gold at 24 g/t recovered grade in the early 1900s, and the Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,000 oz gold at 2.5 g/t recovered. 

The company indicated its intention to build a portfolio of high-quality gold projects in Ghana, with a particular focus on the highly prospective Ashanti Gold Belt.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.