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Goldsource Mines Inc.
Summary
| Project: | Eagle Mountain | |
|---|---|---|
| Deposit: | Eagle Mountain | |
| Location: | Guyana | |
| Commodities: | Gold | |
| Date: | 5/24/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 24-5-2018: Goldsource Mines Inc. announces an Exploration/Drilling Update report for its Eagle Mountain deposit at the Eagle Mountain project. Drilling results incl. 123.0m @ 1.92g/t Au from 83.0m. Vancouver, British Columbia--(Newsfile Corp. - May 24, 20 | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Eric Fier (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - May 24, 2018) - Goldsource Mines Inc. (TSXV: GXS) (OTCBB: GXSFF) (FSE: G5M) ("Goldsource" or the "Company") announces a new discovery and further positive results on its ongoing saprolite exploration program at its 100% owned Eagle MountainGold Project ("Eagle Mountain" or the "Project") inGuyana, South America. This new discovery, "Salbora" area, is approximately 1.5 kilometres northwest of the Eagle Mountain deposit (see attached Figures). Through diamond drilling, the Company has also received positive results on a previously announced expansion target, "Friendly" area, located at the northern edge of the Eagle Mountain deposit (refer to the Company's news release dated August 28, 2017). In addition to expansion drilling, the Company is conducting in-fill drilling, geotechnical evaluation of potential tailings storage areas, and metallurgical test work in order to update its resource estimate for the ongoing Pre-Feasibility Study ("PFS") in the second half of 2018. Goldsource has retained the services of Tetra Tech Canada Inc., an independent Vancouver based company to complete a PFS for a potential large-scale open pit, gravity-cyanidation operation at Eagle Mountain. Yannis Tsitos, President, commented, "We are encouraged with the recent results from the drilling and trenching campaigns at Eagle Mountain. The discovery of a potentially higher-grade zone at the Salbora area along with continued success in expanding mineralization on various targets including Friendly, and positive infill results from the Kilroy and Zion areas, are supportive of the potential to grow the resource base of Eagle Mountain to support a large scale gravity cyanidation operation." The most significant result for this release was returned from Trench TRSB18-002 at the Salbora Area, which intersected 123 metres (horizontal width) grading 1.92 grams per tonne ("gpt") gold. Also noteworthy are Hole EMD18-011, 6.0 metres grading 1.51 gpt gold in the Friendly area; Hole EMD18-018, 21.4 metres grading 1.22 gpt Au, and Hole EMC18-057, 8.0 metres grading 2.65 gpt Au, which are in-fill holes in the Kilroy and Zion areas respectively. The following table summarizes 17 of the most significant drill intercepts from 82 drill holes and 3 of the most significant trench intercepts from 26 trenches (uncut, undiluted) for this release (see attached Figures): | |
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