Leitch/East Leitch/Sand River

Leitch Property

In 2003, Goldstone acquired from Teck Cominco Limited an approximate 63% interest in the Leitch property, consisting of 10 patented claims covering 1,276 acres in Eva and Summers Townships. Goldstone owns now 100% interest in the property subsequent to acquiring the balance of interest early in 2009. Operated continuously over a period of nearly 30 years and producing 847,900 oz with an average ore grade of .92 ounces per ton, the Leitch Mine was shut down in 1965 as a result of $35 gold and boundary disputes which Goldstone has eliminated by acquiring the Sand River Mine. At just over 3000 feet, The Leitch Mine was shallow by the standards of top producers in nearby camps. It never ran out of gold at depth and both ore grade and vein width increased with depth. Mining records of the time record several drill assays of more than two ounces per ton over 2 feet located 100 feet below the 30th level.

The Mine was serviced by a three-compartment shaft to 3,006', with a winze from the 19th or 2,875' level to the 30th or 4,525' level. It operated continuously from 1937 to 1965, processing 920,745 tons with a recovery of 0.92 oz. of gold per ton yielding 847,690 oz. gold at US$35/oz. The Mine was shut down in 1965 as a result of $35 gold and boundary disputes which Goldstone has eliminated through consolidation and acquisition of Sand River Mine.

East Leitch Property

In 2003, Goldstone acquired from Kinross Mines a 55.25% interest in the East Leitch Property covering 20 claims held under a 21-year lease on 832 acres in Summers Township. In January 2005, Roxmark acquired the remaining 29.75% interest from African Marine. During 2006, Goldstone conducted a small bulk sample from the property and recovered 125 ounces of gold from processing 800 tons. The property is adjoining the Leitch-Sand River Mine

Sand River Mine Property

In 2000, Goldstone acquired a 100% interest from Rio Fortuna Exploration Corp. in the Sand River Property, 37 contiguous mining leases covering 1,692 acres in Eva Township.

The Sand River-Leitch discovery was made on the Sand River Mine in 1934 and the vein system was extended to the northeast onto the Leitch Mine in 1935. Servicing was by a three-compartment shaft to 2,656' depth. Sand River Resources processed 157,870 tons with a recovery grade of 0.32 oz. of gold per ton yielding 50,065 oz. gold.