Skip to main content

Goldsource Mines: Exploration Update

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

image 557


Disclosure: Goldseek employees hold a long position in this security.


About the author

Average: 5 (1 vote)

Newsletter Signup

GoldSeek Free Newsletters
GoldSeek Daily Edition
Gold & Silver Seeker Report
Gold Seek -- Peter Spina