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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

Comment by inseon Oct 20, 2020 5:59pm
244 Views
Post# 31750050

RE:RE:When news?

RE:RE:When news?makemoney55, I totally agree with your assertion that they need to get that 3rd drill rig going NOW. But it's been a logistical nightmare with the shut down of Guyana.


As for drill results, EVERYONE is backed up right now and awaiting assays. Personally, I don't necessarily expect blockbuster holes from their on-going drill program, but if we have another 6.52 g/t over 40m hole, I'm not complaining. So long as they continue to expand their existing gold resource with profitable gold ozs, the outlook is bright for GXS.


Goldsource Mines is cashed up and continues to successfully carry out their on-going drill program with only 2 drill rigs. If they can get that 3rd drill rig going, we should be off to the races.


Interestingly, GXS has "outperformed" most of my other gold stocks over the past couple months - this expected pullback in most junior gold mining stocks has hit many high flyers pretty hard, so all things considered, we are currently doing relatively well.


GLTA
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