The "Arrangement" Premier & GoldstoneJuly 11, 2011 Shermandrock stated: “Here is a resolution to this mess”
“Release some drilling results that would give a reason for Ewan to raise the price to .25. The goodwill will echo thru the gold community and suggest that he can be counted on in future acquisitions etc.
While this price is still not even close to the real value being contributed by GRS shareholders, it will not tank the PG share price and THEN, the deal will sail thru.
Yep, Management can have their "change of control bonusses", Ewan & PG shareholders can see the share price reflect the 100% owned valuation of Hardrock and, the GRC shareholders will be less unhappy, but wiser. Sherm”
News Release: July 26, 2011 - Philip Cunningham reports
Goldstone drills 420 g/t Au over 0.38 m at Key Lake
GOLDSTONE ANNOUNCES ADDITIONAL ENCOURAGING KEY LAKE DRILLING RESULTS
Goldstone Resources Inc. has released a third set of results from the continuing 2011 drilling program at its Key Lake property, bordering on the company's Hardrock project joint venture with Premier Gold Mines Limited near Geraldton, Ont. The program is dedicated primarily to obtaining sufficient drilling information to support a NI 43-101 compliant mineral resource estimate, and to establishing the viability of an open pit mining operation. Recently drilled holes encountered encouraging deeper gold intersections, which will be followed up on by at least one deep hole to test down plunge of the currently defined mineralized envelope.
To date in the 2011 Key Lake drilling program, 72 holes have been completed for a total of 16,000 metres along a distance of more than 1,200 metres. Visible gold continues to be encountered in several holes drilled in the western part of the deposit, including KL-11-117 which intersected 420 g/t (12.25 oz/t Au) over 0.38 m; KL-11-108 (229 g/t - 6.68 oz/t Au - over 0.50 metre); and KL-11-87 (123.50 g/t - 3.60 oz/t Au - over 1.0 m).
The recently completed IP geophysical survey at Key Lake, conducted on two grids outside the area currently being drilled, outlined three significant anomalies. As a follow up to drill test these anomalies, Goldstone is planning a set of eight holes to be drilled over the coming weeks for a total of 1,625 metres.
Current drilling is part of a planned 30,000-metre program for this property. Overall, Goldstone's exploration budget for the year is approximately $6.5 million, covering approximately 50,000 metres of drilling at Key Lake and in the Beardmore camp where a third drill rig is currently at work on the Leitch-Sand River property. The Company is planning to add a fourth drill shortly at Leitch-Sand River. ----.