That Spice You Were Looking For.....Goldsource Commences Drilling on Manitoba Coal Permits
December 9, 2009
VANCOUVER, B.C. December 9, 2009 – GoldsourceMines Inc. (“Goldsource” or the “Company”) is pleased to report that it hasreceived all necessary approvals to begin its exploration work program on its44,670 hectares of Coal-Quarry Permits in Manitoba and drilling is scheduled tobegin immediately.
As part of its initial exploration program, the Company plansto drill 8 holes totalling 650 metres to test a number of airborne geophysicalanomalies in the Pine River area of southwestern Manitoba. These drill targetshave similar geophysical signatures to those exhibited by the initial 15 coaldeposits discovered at the Company’s Border Coal Project in Saskatchewan.Several of these geophysical targets are much larger in aerial extent than anyof the current Border deposits.
This drilling should be completed around Dec. 20th and willprovide a basis from which to plan further drilling. A second stage of drillingis scheduled for February, 2010 once access becomes available after freeze-up.These two stages will consist of approximately 20 drill holes that will furtherexamine the extent of the Manitoba coal deposits along the Durango Trend andprovide initial information on coal quality.
J. Scott Drever, President stated; "We have been anxious to getthis program underway because of the similarities we see between the targets inManitoba and those at our Border property in Saskatchewan which have producedseveral coal deposits with substantial NI 43-101 compliant coal resources nearthe town of Hudson Bay. The Manitoba properties also have excellentinfrastructure with nearby railway, roads and power."
Following its major coal discovery at the Border Property inSaskatchewan, Goldsource researched various Manitoba data bases and identified anumber of reported coal occurrences in western Manitoba. The historical datareported several coal occurrences within the Cretaceous Mannville Group rangingin thickness from 1 to 20 metres at shallow depths of 14 to 90 metres belowsurface. The Company drilled five reconnaissance holes on private land in late2008, which confirmed the historical data in certain areas.
The Company subsequently carried out airborne geophysicalsurveys over selected areas, which identified a number of potential coal bearingsub-basins using the Company’s proprietary geophysical signatures developed atthe nearby Border Coal Project and which has been used very successfully byGoldsource to discover further coal deposits. Airborne EM geophysical surveysalong with the proprietary signatures continue to play a key role in definingsignificant coal occurrences at Border and are expected to provide a similarcompetitive advantage with respect to the Company’s Manitoba properties.
N. Eric Fier, CPG, P.Eng. and Qualified Person for this newsrelease has reviewed and approved its contents.