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Be the first with the news that moves the market- Goldsource Mines (TSXV:GXS) is restarting drilling work at its Eagle Mountain gold project in Guyana
- The property will be subject to strict controls, including a curfew, social distancing and a quarantined work camp
- Goldsource is bringing in a single drill for the 3000-metre program but will expand drilling throughout the year, scaling up to 10,000 metres over the year
- The company aims to complete the resource estimate of the Eagle Mountain project by the end of this year
- Goldsource Mines (GXS) is up 7.4 per cent and is trading at C$0.145 per share
Goldsource Mines (TSXV:GXS) is restarting drilling work at its Eagle Mountain gold project in Guyana.
In April, work on Eagle Mountain was stalled when the Guyanan government introduced strict lockdown measures to prevent the spread of the COVID-19.
Once work restarts, the property will be subject to strict controls, including a curfew, social distancing and a quarantined work camp.
The company will run one drill rig on the property, testing up to 3000 metres to the south of the site’s Friendly prospect, adjacent to the Eagle Mountain gold deposit.
Goldsource has planned to drill between 7,500 and 10,000 metres over the second half of this year.
The company is working to expand the measured mineralization across the site’s five mineral targets identified on the property.
The program includes in-fill and expansion drilling of the Salbora, Powis, Toucan, Friendly and Eagle Mountain targets. Salbora is located 1.7 kilometres north west of the Eagle Mountain deposit.
The company’s aim is to complete the resource estimate of the Eagle Mountain project by the end of this year.
President of Goldsource, Yannis Tsitos said he was looking forward to safely resuming drilling operations for resource expansion and conversion at Eagle Mountain, albeit cautiously and under strict COVID-19 protocols.
“In the last 36 moths, we have drilled in excess of 25,000 metres at Eagle Mountain, resulting in the recent discoveries at Salbora, Powis, Toucan and Friendly.
“We are looking forward to an updated independent resource estimate for completion in the fourth quarter of 2020,” he said.
Goldsource Mines (GXS) is up 7.4 per cent and is trading at C$0.145 per share.
