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Eagle Mountain

Summary

The Eagle Mountain Project comprises two gold deposits, Eagle Mountain and Salbora, in addition to several other exploration targets. The deposits are structurally controlledac and affected by a zone of saprolitic weathering up to 50 metres thick. Gold mineralization starts at surface in saprolite (soft rock) and extends into the underlying fresh rock.

Key Facts

Location Guyana
Ownership 100%
Claim Type Prospecting License
Metals Gold
Status/Stage PEA in progress
Mineral Resources: Indicated 1,183,000 oz gold1
Mineral Resources: Inferred 582,000 oz gold1

131.1 million tonnes grading 1.18 gpt Au for 1,183,000 oz in Indicated Resources and 18.4 million tonnes grading 0.98 gpt Au for 582,000 oz in Inferred Resources

The Property is located approximately 7 km south of Mahdia Township (population ~3000). Mahdia can be accessed by road from Georgetown, a driving distance of ~325 km, or via air with a commercial flight.

Mahdia is a central mining location. Consequently, the local economy is dominated by small-scale mining activity and has a labour force and mechanical shops familiar with mining. Additionally, as capital of Potaro Region 8, the township offers a local hospital, school, shops, and a paved airstrip.

Unpaved roads and tracks from Mahdia provide access to and within the EMPL. Goldsource’s current field activities are supported by the 65-man exploration camp and offices on the Property.

Mineral Resources

MINERAL RESOURCE UPDATE AND CURRENT PROGRAM
APRIL 2022 MINERAL RESOURCE UPDATE FOR THE EAGLE MOUNTAIN PROJECT
Classification Tonnes (000 t) Gold (gpt) Ounces Au (oz)
Indicated
  Saprolite & Transition 12,500 1.04 417,000
  Fresh rock 18,700 1.28 766,000
  Total 31,100 1.18 1,183,000
Inferred
  Saprolite & Transition 6,100 0.71 139,000
  Fresh rock 12,300 1.12 443,000
  Total 18,400 0.98 582,000

Notes:
1. Exploration results up to December 31, 2021.
2. The MRE Update was prepared by CSA Global in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition.
3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.
4. Refer to the MRE Update news release, dated April 7, 2022.

Eagle Mountain Project Image #1

Leon McGarry (P.Geo.) of CSA Global is the independent Qualified Person for the April 2022 Mineral Resource estimate. The Company QP under NI 43-101 is N. Eric Fier, CPG, P.Eng, Executive Chairman for Goldsource.

Eagle Mountain Project Image #2

 

Geology and Mineralization

The Eagle Mountain Project comprises two gold deposits, Eagle Mountain and Salbora, in addition to several other exploration targets. The deposits are structurally controlled and considered to be part of the same mineralizing system. They are affected by a zone of saprolitic weathering up to 50 metres thick and overprints earlier-formed mineralization in both the granodiorite and basalt but has not resulted in enrichment of gold in the saprolite horizon.

EAGLE MOUNTAIN DEPOSIT

SALBORA DEPOSIT

 

History & Milestones

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