The Akrokeri Mine, which is located within the Akrokeri prospecting license, about 1.5km south of the proposed AK01 South pits, was closed in 1909 due to a high inflow of water.
Between 1904 and 1909, the mine had produced about 75,000 ounces of gold, from about 104,000t of ore, according to the Ghanaian Minerals Commission.
Later, Birim Goldfields and Pan African Resources had conducted drilling campaigns in 1996 and 2008 respectively. The Diamond Drill holes were located north and south of Akrokeri town along the known quartz vein.
GoldStone said that the drilling, based on the historic data, has encountered unknown narrow high grade quartz veins within the granite, with samples up to 51g/t, indicating potential of a high grade deposit within the entire contact zone.
A review of data and assets in 2017, however, showed that the core was incomplete in the company's core shed housed at site, GoldStone said.
The firm noted that it has figured out the entire 5,200m of core drilled by Birim and Pan African and relocated it to its core shed.
Re-logging is currently underway, and, if appropriate, GoldStone plans to undertake further assaying of the core.
GoldStone CEO Emma Priestley said: "GoldStone continues to review all the historical data for its licenses and this has lead to the re-examination of the former mine which we are really excited about.
"There is a huge opportunity to find and exploit an existing resource and also expand on these resources, not to mention the huge value in the existing infrastructure and underground development."
GoldStone is currently considering exploring the potential mineralized zones along strike extensions and within the old workings.
