Goldsource Mines Inc V.GXS

Alternate Symbol(s): GXSFF

Metals & Mining Gold

Goldsource Mines Inc. is a Canada-based resource company, which is engaged in exploration activities. The Company is focused on the Eagle Mountain Gold Project (Eagle Mountain) for which it has a 100% interest in the Eagle Mountain Prospecting License (EMPL) and the Kilroy Mining Permit (collectively, the Property). The Property is located approximately seven kilometers (km) south of Mahdia Township (population approximately 3000). Mahdia Township can be accessed by road from Georgetown, a driving distance of approximately 325 km, or via air by a commercial flight. The Property consists of an area of approximately 5,050 hectares (ha) (12,480 acres) in central Guyana, South America. 4,784 hectares (11,820 acres) of the Eagle Mountain Property relate to the EMPL while 266 ha (660 acres) relate to the Medium Scale Mining Permit held by Kilroy Mining Inc. (Kilroy), on which the Company has a long-term lease with a 2% net smelter return royalty.

TSXV:GXS - Post by User

Goldsource Mines Inc

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Comment by HighTeston Jan 26, 2010 11:30am

600 Views

Post# 16719443

RE: RE: RE: RE: RE: News out and it's DISTRACTING

Obviously I would have liked more coal in the first set of holes. What one should keep in mind that is that the coal in the Pine River claims area is about 175 km away, on strike/ trend from Border, and the GXS Pine River claim group is around 41000 hectares, so there is plenty of room for them to look. Possibly the "matrix" needs a tweak to allow for reduced overburden and absent (erosionally challenged) geological units compared to Border. The potential stripping ratios should be much improved in the MB claims compared to Border, as long as decent thicknesses of coal are intercepted. They wont have to hit much coal at 10-40 meters depth.

IMHO

HT

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