New beginning for GXS* 52,249,711 shares outstanding *
* $14.4 million cash position (no debt) *
* >1.7 million ozs Au resource and growing (848k ozs Indicated @ 1.14 gpt Au / 868k ozs Inferred @ 1.09 gpt Au) *
* Updated Resource Estimate in H2 2021 will include highly positive drill results from November 6th, 2020 onward * Highlights include:
December 3rd, 2020 NR: Wide Intervals of Gold Mineralization at Eagle Mountain Gold Project - 28.5 Metres Grading 2.03 gpt Au
- 36.5 Metres Grading 1.83 gpt Au
- 39.0 Metres Grading 1.55 gpt Au
January 6th, 2021 NR: Goldsource Announces Further Drill Results at Eagle Mountain - 54.0 Metres Grading 1.72 gpt Au
- 19.5 Metres Grading 1.38 gpt Au
- 11.5 Metres Grading 3.37 gpt Au February 8th, 2021 NR: Goldsource Announces High-Grade Drill Results at Eagle Mountain; 34 Metres (Est. True Width) Grading 20.38 gpt Gold and 24 Metres (Est. True Width) Grading 3.41 gpt Gold Starting from surface, in-fill hole EMM21-007 intersected 42.0 metres (est. true width of 34.0 metres) grading 20.38 grams per tonne (“gpt”) gold ( “Au”), including a high-grade intercept of 3.0 metres (est. true width of 2.4 metres) grading 205.98 gpt Au at the base of the saprolite.
In-fill hole EMM21-008, drilled from the same pad as EMM21-007 but oriented to the southeast, intersected 30.0 metres (est. true width of 24.0 metres) grading 3.41 gpt Au from surface, also in saprolite.
Step-out drill holes EMM21-004 and EMM21-005, targeting lateral extensions of saprolite mineralization in the Ounce Hill Prospect, intersected gold mineralization approximately 60.0 metres west of the 2014 PEA(1) pit outline. EMM21-004 intersected 6.0 metres grading 0.72 gpt Au and EMM21-005 intersected 16.5 metres grading 0.84 gpt Au, both demonstrating potential for continued lateral extensions of the sub-horizontal mineralized zones in the prospect.
March 30th, 2021 NR: Goldsource Drilling in Ounce Hill Area at Eagle Mountain Intercepts 51 Metres (44m ETW) Grading 2.02 gpt Gold from Surface EMM21-009 intersected 51.0 metres (estimated true width (“ETW”) of 44.0 metres) grading 2.02 grams per tonne (“gpt”) gold from surface. EMM21-009 has extended the high-grade area, previously defined by drill holes EMM21-007 and 008, a further 50 metres to the east. Holes EMM21-007 and 008 intersected 42.0 metres (ETW of 34.0 metres) grading 20.38 gpt gold and 30.0 metres (ETW of 24.0 metres) grading 3.41 gpt gold, respectively, from surface and in saprolite (see February 8, 2021 News Release). Unlike surrounding holes, mineralization in EMM21-009 has continued into the underlying fresh rock by 22.5 metres with a grade of 2.69 gpt gold. * At or near surface Au mineralization, low strip open pit potential, and high metallurgical Au recoveries on average of 96.5% *
* 3 drill rigs on-site actively conducting expansion and in-fill drilling *
* 16,500 metres of drilling targeted for 2021 *
* Van Eck Associates Corporation on board *
* $69.5 million market capitalization *
* GXS is seriously undervalued *
GLTA