| Announcement Date: | 2022-12-13 |
|---|---|
| Announcement Type: | Exploration Update |
| Announcement Code: | NI43-101 |
| Company name: | Goldsource Mines Inc. |
| Project name: | Eagle Mountain |
| Location: | Guyana |
| Commodities: | Gold |
| Highlight: | Trench with 40 Metres grading 5.16 gpt Gold in Saprolite and Drill Intercept of 9.2 Metres (ETW) grading 2.04 gpt Gold |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | VANCOUVER, BC – April 7, 2022 – Goldsource Mines Inc. (“Goldsource” or the “Company”) is pleased to announce an updated Mineral Resource estimate (“MRE Update”) for its 100%-owned Eagle Mountain Gold Project (“Project”) in Guyana, South America. The MRE Update reflects the positive effect of infill and expansion drilling completed in 2021, principally in and around the Eagle Mountain deposit. This has resulted in an estimated 40% increase in ounces of gold for the Indicated Resource. Conversion of Inferred Resource to the Indicated category was the primary objective of the 2021 exploration program. The expanded Indicated Resource will form the basis for a prefeasibility study (“PFS”) focussed on establishing shallow, low strip ratio open-pittable mineral reserves. Details of the MRE Update will be provided in a Technical Report with an effective date of April 5, 2022 prepared in accordance with National Instrument 43-101 (“NI 43-101”) to be filed under the Company’s SEDAR profile within 45 days of this release. The updated MRE was prepared by CSA Global Canada Consultants Ltd. (“CSA Global”) in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards. |
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