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Goldsource Mines Inc V.GXS

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
Comment by cardman503on Apr 09, 2010 7:22am
645 Views
Post# 16973128

RE: RE: BIG NEWS FOR GXS

RE: RE: BIG NEWS FOR GXSI see this as excellent news- hugely successful campaign. 126 M is monsterous (would it be one of 5 largest  in North America in teh past 25 years?) plus a basket of other impressive results. Drilling success needs to be measures against the primary objective, which was to move Inferred resources to Indicated to hit the 100,000,000 tonnes bench marked necessary for economic development and it appears that will be the result. The PEA is underway, the Enviromental work is under way, 5 different energy development options are being weighed- all this stuff is very very positive. So you have all these great facts. On teh downside- which is nominal in light of the upside- Pine drill program was dscontinued pending consultations with First Nations and Manitoba Gov't on the work program, but the results were weak on the 8 holes drilled. I think this drill program ensures this play will end up in production- takes a lot of risk out of it. More information is still needed, but I see this as very positive I will continue to hold my position here and in Westcore. It's like calling your home run to deep center and then hitting it out just over the wall in left field instead, you didn't get it all, but you hit it out of the park anyway.
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