The company announced high-grade drill results for the Ounce Hill Prospect at the company’s flagship property, Eagle Mountain. While these results won’t be included in the upcoming mineral reserve/resource estimate (MRE) update, this is a nice start to the next MRE estimate.
Goldsource reported results for 5 core drill holes totaling 260m, drill in January 2021. Drilling re-commenced at Eagle Mountain following the holidays. One drill rig is focused on upgrading resources (infill drilling) while a second is testing both new exploration and existing expansion targets near the Eagle Mountain deposit, with a third core rig scheduled to resume drilling later in February.
The objective of the drill program in early 2021 was to test the continuity of near-surface saprolite (softer ore) gold mineralization in the Ounce Hill prospect, located in the northeast of the Eagle Mountain deposit. Highlights from this press release include:
- 34m @ 20.38 g/t Au (Infill)
- 24m @ 3.41 g/t Au (Infill)
- 6m @ 0.72 g/t Au (Step-out)
- 16.5m @ 0.84 g/t Au (Step-out)
An updated MRE is expected to be published this month, February 2021.
To View The Company’s Press Release Click Here
Disclosure: Goldseek employees hold a long position in this security.
About the author
Chief Mining Analyst with GoldSeek.com and SilverSeek.com. Author of the Gold Seeker Report weekly newsletter and analyst at the 24K Gold Fund. Previously he was the Senior Mining Equity and Economic Analysis at The Morgan Report. He was a Co-Founder and Director of Lemuria Royalties, before it was acquired in March 2018. He also co-authored The Silver Manifesto with David Morgan in 2015.
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