Goldsource Mines Inc. (TSXV:GXS) has obtained additional promising infill and expansion drill results for the company’s 100%-owned Eagle Mountain Gold Project in Guyana, South America.
Newly reported results are for 29 core holes totalling 3,269m from the Bacchus, Bottle Bank, No. 1 Hill and Bucket Shaft areas of the Eagle Mountain deposit. Another seven core holes totaling 803m are for the Salbora deposit.
These drill results represent the final set of infill and expansion drill results from the 2021 programme and are the final drill results to be included in the updated Mineral Resource Estimate (MRE), which the company anticipates completing by year-end, 2021. In total, the updated MRE will reflect an estimated 21,000m of additional core drilling completed from November 6, 2020, the cut-off date for the February 2021 MRE.
The majority of the drilling was infill, testing the continuity of the shallow sub-horizontal zones of the Eagle Mountain deposit and the sub-vertical breccia zones of the Salbora deposit. The expansion drilling was designed to test for lateral extensions of the Eagle Mountain zones to the north and southwest and for new sub-horizontal zones at depth.
In parallel, the company continues to progress the 5,000-metre Phase 2 exploration programme that is designed to test known geophysical targets and follow up on prospects along the Salbora-Powis structural trend. Drilling at the Toucan and Powis prospects is progressing well with results expected in the near term.
Highlights (Eagle Mountain and Salbora deposits):
Eagle Mountain Deposit – No.1 Hill and Bowl Areas:
- Results for 10 core holes totaling 1,399m
- In the No. 1 Hill area, infill hole EMD21-193 intersected near-surface high-grade mineralization of 16.5 metres (estimated true width (ETW) of 14.2m) grading 20.04 grams per tonne (gpt) in saprolite. While this area was within the Indicated Mineral Resource, the hole returned significantly higher grades than what was previously estimated.
- Separately, EMD21-193 intersected 21.0m (ETW of 18.2 metres) grading 1.32 gpt gold starting 93m down the hole. The hole successfully tested the continuity of the lower sub-horizontal zone within the Inferred Mineral Resource for potential conversion to indicated resources.
- Expansion drilling in the Bowl area intersected several new sub-horizontal zones at depth in fresh rock, which the company interprets as a continuation of the zones of No.1 Hill approximately 250m to the south-east. The uppermost zone in expansion hole EMX21-004 intersected 1.5m grading 9.69 gpt (ETW of 1.5m) starting 39m down the hole
Eagle Mountain Deposit – Bacchus and Bucket Shaft Areas:
- Results for 19 core holes totalling 1,870m
- Expansion drill hole EME21-147 intersected 7.5m (ETW of 6.5m) grading 1.32 gpt gold starting 25.5m down the hole, confirming the extension of shallow sub-horizontal zones in the gap between the Bacchus and Friendly areas. Drill hole EME21-141, approximately 80m to the south, intersected 10.5m (ETW of 6.7m) grading 1.12 gpt gold in a deeper interval, starting 81m down the hole.
- Infill drill hole EMD21-179 intersected 1.5m (ETW of 1.2m) grading 10.90 gpt gold starting 15m down the hole in saprolite.
Salbora Deposit – Salbora-Powis Trend:
- Results for seven core holes totalling 803m
- Infill drilling tested the edges of the Indicated Mineral Resource and at depth within the Inferred Mineral Resource outline.
- Infill drill hole EME21-151 intersected 1.5m (ETW of 1.4m) grading 18.98 gpt gold starting 34.5m down the hole.
- Infill drill holes EME21-153 intersected 4.5m (ETW of 3.5m) grading 7.70 gpt gold starting 112.5m down the hole and EME21-155 intersected 1.5m (ETW of 1.2m) grading 37.86 gpt gold starting 124.5m down the hole. These higher-grade intersections, approximately 80-100m below the Inferred Mineral Resource, correspond with the intersection of sub-vertical breccia structures that are typical of the Salbora-Powis trend with recently interpreted sub-horizontal structures that are similar to those of the Eagle Mountain deposit 1.5 km to the south-east
“We are pleased to have completed this year’s infill and expansion drilling of the Eagle Mountain and Salbora deposits as we prepare for the updated MRE,” CEO, Steve Parsons, said.
“As well, we view as positive a new development, that is, the latest drilling has provided key insights with respect to the intersection of the sub-vertical breccia structures of the Salbora deposit with the newly interpreted sub-horizontal structures – similar to those of the Eagle Mountain deposit – can result in high gold grades in the immediate area of their intersection, as shown with the Salbora drilling.
“This may provide additional targets within the Salbora-Powis north-south structural trend including the re-interpretation of the Toucan and Powis prospects. Along with the continued testing of known geophysical targets on the Salbora-Powis trend, the company’s exploration efforts will continue to focus on these priority areas of interest.”
For further information please visit: http://www.goldsourcemines.com/