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Goldsource Announces New Discovery at Powis Target

Mining News - Published on Thu, 13 Feb 2020

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Goldsource Mines Inc announced initial drill results from the Powis Target, as well as historic drill results in this area. Powis is located approximately 1.6 kilometres south of the Salbora deposit and an estimated one kilometre west of the main Eagle Mountain Gold deposit in Guyana, South America. The seven drill holes, totalling 1,319 metres, in this news release have intersected a gold mineralized north-south trending structural corridor at the edge of a major induced polarization geophysical anomaly (sulphide-rich) 700 metres long and 60-80 metres wide, showing similarities to the Salbora discovery IP signature

Yannis Tsitos, President, commented, "Since the discovery and delineation of the Salbora deposit, the Company been focused on comparing IP anomalies with historic exploration results to priorize our drill targets. This compilation has led us to the new discovery at Powis with a drill hole intercept of 10.5 metres grading 9.94 grams per tonne gold. Powis is 600 metres along strike from the Toucan Target with an historic adit grading 18.5 gpt gold over a 23 metre length (in-vein). Our goal during Q1, 2020 is to further expand on these initial positive results from the Powis and complete initial drilling at Toucan. By March, we will have 3 drill rigs operating at Eagle Mountain for both in-fill drilling of deposits and potential expansion of new discoveries."

The most significant result for this release is hole EMD19-096, which intersected 10.5 metres grading 9.94 gpt gold. Also noteworthy are holes EME19-208 at 1.5 metres grading 11.97 gpt Au and EMD19-098 at 1.5 metres grading 10.91 gpt Au.

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Posted By : Rabi Wangkhem on Thu, 13 Feb 2020
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