Junior gold explorer Goldstone Resources (LON:GRL) is to carry out more analysis of its Homase/Akrokerri deposit in Ghana before deciding where to start drilling.
Goldstone, which is 33.5% owned by Stratex (LON:STI), wants to increase the existing oxide resource. The compliant resource at the deposit is currently 602,000 ounces.
Recent pitting and auguring programmes at Homase/Akrokerri identified several high priority, high prospectivity targets but to utilise its cash resources of US$565,000 in the best way, further analysis is required to ensure future drilling occurs at the right locations, the company said.
Results for the half year to June showed a loss of US$813,000 (US$1.17mln).