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Goldsource Mines Inc V.GXS

Alternate Symbol(s):  GXSFF

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

Bullboard Posts
Post by seadogweston Dec 15, 2015 9:55am
118 Views
Post# 24385071

Goldsource Provides Eagle Mountain Construction Update

Goldsource Provides Eagle Mountain Construction UpdateVANCOUVER, Dec. 15, 2015 /PRNewswire/ - Goldsource Mines Inc. ("Goldsource" or the "Company") is pleased to announce that construction at its Phase I Eagle Mountain Gold Project ("Eagle Mountain") located in Guyana, South America is nearing completion and testing of selected plant components is underway. Plans for Phase I are based on the Preliminary Economic Assessment of the Eagle Mountain Saprolite Gold Project, Guyana Technical Report ("PEA"), which called for a 1,000 tonnes per day open pit gravity plant and post-commissioning cash operating costs of US$500 to US$600 per ounce of gold. Yannis Tsitos, President, stated, "We are generally pleased with Eagle Mountain's construction progress with most of our mine construction tasks either completed or nearing completion. During shipment to site, an automation control panel was damaged which required replacement and has delayed our previously targeted year-end production by about 4 to 6 weeks. The replacement panel is currently being delivered by air-freight to Guyana. Testing of sections of the process circuit is in progress. We expect to be under budget with final commissioning and initial production to occur in early 2016."
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