Goldsource Mines Inc V.GXS

Expansion of Friendly Prospect

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GOLDSOURCE ANNOUNCES EXPANSION OF FRIENDLY PROSPECT AT EAGLE MOUNTAIN

- 27.0 Metres Grading 1.72 gpt Au
- 73.5 Metres Grading 0.50 gpt Au


https://www.goldsourcemines.com/news_releases/2020/index.php?content_id=355



Another positive news release today from Goldsource Mines. Judging by today's market reaction, it is apparent that some investors still do not understand or appreciate the fact that we are continuing to add more gold ozs. More gold ozs = more $$$.



The Friendly Prospect is located immediately north of the Eagle Mountain Gold Project, which hosts the current existing ~1 million oz gold deposit, grading an average 1.3 gpt Au. The drill holes announced in today's NR are in line with this side of Goldsource Mine's land package - "lower" grade gold relative to the new Salbora, Powis, and Toucan discoveries, which host "higher" grade gold deposits (double that of Eagle Mountain / Friendly).



***DESPITE BEING "LOWER" GRADE GOLD THAN RECENT DRILL RESULTS FROM SALBORA, POWIS, AND TOUCAN, TODAY'S DRILL RESULTS FROM FRIENDLY (>0.30 GPT AU CUT-OFF) ARE STILL HIGHLY ECONOMIC GOLD OZS BEING ADDED TO OUR GROWING NEW RESOURCE ESTIMATE***



I'm disappointed with the market reaction to today's NR, but people will connect the dots eventually...hopefully, sooner than later.



GLTA

[NickCarpathia]

Hello Inse. I think this was another reality check opportunity for investors.  I honestly thought is was going to drop more than it did. The problem is that GXS has not been able to hit another 50m @ 6.5 grams like they did at Salbora about a year ago. Every news release since then has disappointed when compared to the Salbora hit, so I'm not surprised at the market reaction. Also

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Hello Nick. Goldsource Announces Salbora High-Grade Discovery; 69 Metres (40 Metres Est. True Width) Grading 6.52 g/t Au VANCOUVER, BC – January 23, 2019 This was such a spectacular news release from Goldsource Mines last year, and arguably one of their best news releases ever - this drill hole however, has been both a blessing and a curse. It certainly made long suffering GXS investors

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Sorry about that...continuing on, the significant value that has been created through their drill program is simply not being acknowledged by the markets, or by many folks here. I believe this is because the markets, including some folks here, continue to unreasonably expect more “6.52 gpt Au over 69 Metres” drill results. But we do not need to continue hitting holes like that to make a

[NickCarpathia]

Good points Inse. But, my two biggest issues are 1.3-1.6 million oz's and 500 million shares. No way Sprott got into this for .3-.6 million oz's? I follow this investments, he is elephant hunting. (V.TUD, V.DSV and T.WM come to mind) At today's stock price, another 100 million shares will be needed to take this to the next level. I don't see Sprott coming in on the next round

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Thanks Nick...i agree with you about the "500,000,000" shares fully diluted...but i have recently become less concerned about such a bloated share structure, when I see that other notable junior miners out there have a similar share structure, or an even greater number of shares outstanding. If we have not been adding value to the Company with the money raised over the past few years