Intersects 20m @ 2.61 GPT At Gold Eagle Mountain
Goldsource Mines Inc. (TSXV: GXS) has obtained positive infill and exploration drill results for the company’s 100%-owned Eagle Mountain Gold Project in Guyana, South America.
The results represent 19 core holes totalling 2,830 metres drilled between February and May 2021 from infill drilling of the Eagle Mountain deposit, Bottle Bank area, and exploration drilling along the north-south Salbora-Powis structural corridor, specifically the Toucan Prospect.
Results will be used to prepare an updated Mineral Resource Estimate (MRE) anticipated in H2, 2021 and a Prefeasibility Study (PFS) in mid-2022.
Eagle Mountain Deposit, Bottle Bank Area
- Results for 10 core holes totalling 1,414m
- Drilling in a central area of Bottle Bank within the Indicated Mineral Resource has confirmed elevated gold grade-thicknesses, at surface and at depth, within the shallow sub-horizontal mineralized zones of the Eagle Mountain deposit.
- Infill hole EME21-108 intersected 21.0m grading 2.61 grams per tonne (gpt) gold from surface. A further 100m to the north, EME21-110 extended the higher-grade area, intersecting 16.0m grading 1.96 gpt with EME21-111 intersecting 10.5m grading 2.71 gpt
- Infill hole EME21-105 intersected 24.0m grading 1.28 gpt gold from surface within the Inferred Resource.
CEO, Steve Parsons, said infill holes EME21-106 and EME21-107 confirmed the lateral extent of Inferred Resources; however, they also served to expand and provide added definition of mineralised zones from surface to 50m. These holes are important to confirm and potentially convert inferred to indicated resources.
Toucan Prospect
- Results for nine core holes totalling 1,416m
- Exploration drilling of the Toucan Prospect, situated along the north-south Salbora-Powis structural corridor, has confirmed the presence of wide intervals of gold mineralisation, up to 50-metres laterally, including high-grade sub-intervals, hosted in sub-vertical north-south striking shear zones up to 200m long. Toucan was not included in the February 2021 MRE.
- Drill hole EME21-095 intersected 6.0m grading 18.14 gpt gold starting 100.5m down the hole.
- Drill hole EME21-094 intersected 60.0m grading 0.70 gpt starting 49.5m down the hole. This included a higher-grade sub-interval zone of 10.5m grading 2.58 gpt gold.
“The Bottle Bank area of the Eagle Mountain deposit represents one of several areas with significant gold grades and shallow mineralisation,” Mr Parsons said.
“Importantly, infill drilling in the central area of Bottle Bank is confirming and expanding higher grade mineralisation, which together with the adjacent high-grade Ounce Hill area, represents a possible high-grade starter pit to be evaluated in the planned Prefeasibility Study.
“Concurrently, the company’s exploration programme is also focused on testing earlier stage prospects that are proximal to resource areas. Toucan was the first of these targets to be tested in 2021.
“While still early days for Toucan, we are encouraged by the strike extent of approximately 200 metres and the higher-grade intercepts of up to 18 gpt over 3.5 m ETW, which will be investigated further in the coming months as we continue to enhance the geologic model for Toucan and the broader Salbora-Powis structural trend.”
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