Goldsource drills 34 metres of 20.38 g/t gold at Eagle Mountain

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Goldsource Mines Inc. [GXS-TSXV; GXSFF-OTCQB; G5M-FSE] reported drill results for the Ounce Hill prospect at its 100%-owned Eagle Mountain gold project in Guyana, South America. Newly reported results are for five core holes totalling 260 metres that were drilled in January, 2021. These results will not be included in the pending updated mineral resource estimate.

Drilling at the Eagle Mountain Project resumed in early January after the holiday break. One core rig is focused on infill drilling of gold mineralization at the Eagle Mountain deposit while a second is testing both new exploration and existing expansion targets near the Eagle Mountain deposit and along the Salbora-Powis trend. A third core rig is scheduled to resume later in February.

An objective of the drill program in early 2021 was to test the continuity of near-surface saprolite gold mineralization in the Ounce Hill prospect, located in the northeast of the Eagle Mountain deposit. Infill drill holes EMM21-007 and EMM21-008 targeted an area that had previously been drilled on a wide spacing (greater than 50 metres) returned grades well above prior results. EMM21-007 represents the highest-grade-by-thickness intercept drilled at the Eagle Mountain project to date.

Highlights (Ounce Hill prospect):

Starting from surface, infill hole EMM21-007 intersected 42.0 metres (estimated true width of 34.0 metres) grading 20.38 g/t gold, including a high-grade intercept of 3.0 metres (estimated true width of 2.4 metres) of 205.98 g/t gold at the base of the saprolite.

Infill hole EMM21-008, drilled from the same pad as EMM21-007 but oriented to the southeast, intersected 30.0 metres (estimated true width of 24.0 metres) grading 3.41 g/t gold from surface, also in saprolite.

Step-out drill holes EMM21-004 and EMM21-005, targeting lateral extensions of saprolite mineralization in the Ounce Hill prospect, intersected gold mineralization approximately 60.0 metres west of the 2014 PEA pit outline. EMM21-004 intersected 6.0 metres grading 0.72 g/t gold and EMM21-005 intersected 16.5 metres grading 0.84 g/t gold, both demonstrating potential for continued lateral extensions of the subhorizontal mineralized zones in the prospect.

Yannis Tsitos, President, said: “In terms of thickness times grade profile, EMM21-007 is the best hole drilled at the Eagle Mountain gold project to date, topping the 2019 discovery hole at Salbora, which intersected 40 metres (true width) grading 6.52 g/t gold from surface.”

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