Goldstone Files NI 43-101 Technical Report for Hardrock Project
May 18 2011 - 8:23AM
Marketwired Canada
Goldstone Resources Inc. (TSX:GRC)(PINK SHEETS:GRSZF) today announced the filing
of an updated NI 43-101 Mineral Resource Estimate for the Hardrock Project on
SEDAR. The effective of the report is dated April 5, 2011 and is available for
review under the Company's profile at www.sedar.com.
The report was prepared by Micon International Limited and lists the following
as Qualified Persons for the purposes of NI 43-101: Charley Murahwi, P.Geo., Sam
Shoemaker, Jr., B.Sc., MAusIMM., Reg.Mem. SME., and Richard Gowans, P.Eng.
The Hardrock Project is a joint venture located just south of the town of
Geraldton, Ontario in which Goldstone holds a 30% carried interest and Premier
Gold Mines Limited (TSX:PG), as operator, holds a 70% interest.
About Goldstone
Goldstone Resources Inc. is a gold exploration and development company operating
in the historically significant Geraldton-Beardmore camp of Northwestern Ontario
and focused on gold exploration and deposit delineation at its Key Lake,
Brookbank, Northern Empire and Leitch-Sand River gold properties, and as a
partner in the Hardrock Project joint venture with Premier Gold. Goldstone's
100%-owned NI 43-101 resources in the Beardmore area total more than 800,000
ounces. In April 2011, Premier announced an updated NI43-101 resource estimate
for the Hardrock Project in the Geraldton area of 3.6 million ounces of gold in
which Goldstone has a 30% interest (more than 1 million ounces). The camp is
host to several past producers in a district that has historical production of
more than 4.1 million ounces of gold from high grade ore before being shut down
primarily as a result of a $35 gold price-and to Goldstone's fully permitted,
expandable 200-TPD Northern Empire mill.
Further information is available on the Company's website at
www.goldstoneresourcesinc.com and on SEDAR under the Company's profile at
www.sedar.com.
Forward-Looking Statements
This news release may contain forward-looking information under applicable
securities laws concerning Goldstone's business, operations, financial
performance, condition and prospects, as well as management's objectives,
strategies, beliefs and intentions. Forward looking information is frequently
identified by such words as "may", "will", "plan", "expect", "anticipate",
"intend" and similar words referring to future events and results. This
forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause actual results to differ materially from those
implied by the forward-looking information. Factors that may cause actual
results to vary materially include, but are not limited to, inaccurate
assumptions concerning the exploration for and development of mineral deposits,
delay or inability to retain a senior exploration and/or operating officer,
inability to raise funds if and when required, unanticipated operational or
technical difficulties, changes in laws or regulations, the risks of obtaining
necessary licenses and permits, changes in general economic conditions and
changes in conditions in the financial markets. Readers are cautioned not to
place undue reliance on this forward-looking information as actual results may
differ materially from those expressed or implied in the forward looking
information. Goldstone does not assume the obligation to revise or update this
forward-looking information after the date of this release or to revise such
information to reflect the occurrence of future unanticipated events, except as
may be required under applicable securities laws.
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