Goldsource Announces New Discovery At Eagle Mountain Project; Trench with 40 Metres Grading 5.16 Gpt Gold in Saprolite and Drill Intercept of 9.2 Metres Grading 2.04 Gpt Gold
Core drilling has so far intersected mineralization beneath the trench and in drill holes to the south in the direction of the Eagle Mountain deposit (Table 3). 6.0 metres (estimated true width ("ETW") of 4.6 metres) grading 0.63 gpt gold from surface in saprolite in EMD22-256 and an additional 12.0 metres (ETW of 9.20 metres) grading 2.04 gpt gold from 15.0 metres downhole in saprock. 6.0 metres (ETW of 5.19 metres) grading 1.34 gpt from 40.5 metres downhole in EMD22- 262. EMD22-262 is located 100 metres north of the current MRE limit, with new mineralization occurring along trend from the known mineralization. Gold mineralization is found in chloritic fracturing in a quartz diorite to granodiorite host rock within interpreted sub- horizontal zones. The style of mineralization and the elevation of North Zion zones are comparable to the EagleMountain deposit (Zion Zone 2), 600 metres south of NTZTR22-005. In the Eagle Mountain deposit, higher grades within the sub-horizontal zones are marked by a silicic base. The high-grade saprolite intervals within the trench and auger holes are interpreted to be the base of an upper zone. Core holes, EMD22-257 and EMD22-258, for example, were collared at or below the interpreted base of the mineralized zone. With the extension of the Eagle Mountain-style mineralization to the north and northeast beyond what was previously mapped or significantly tested, the North Zion area will be the subject of additional generative work in H1 2023. The program will test for lateral extension and parallel zones to depth as is observed in the Eagle Mountain deposit. Montgomery, the northern extension of the Salbora-Powis Trend, was tested with six (6) core holes totaling 475 metres (Table 4). This follows the five (5) holes drilled (768 metres) in 2020. Notable drill intercepts include 12.0 metres (ETW of 7.70 metres) grading 1.12 gpt gold from 39.0 m downhole in EMD22- 225 within Salbora style mineralized breccias in a granitoid host. Results show a set of mineralized chlorite breccias and related quartz veining which extend over 250 metres strike within generally narrow structures over a combined width of 60 metres. Toucan, situated at the intersection of the Salbora-Powis Trend and the western extension of the Eagle Mountain deposit, included nine (9) core holes totaling 599 metres (Table 5). The program was designed to test for shallow extensions of the Toucan area to the south, covering the gap between the Toucan and Powis prospects. Notable drill intercepts include: 31.5 metres (ETW of 27.20 metres) grading 0.60 gpt gold in saprolite from 30 metres downhole in EMD22-240. Results show continuation of mineralized breccias 150 metres south of the main Toucan deposit and continued projection towards Powis. Ann, the most southerly prospect along the Salbora-Powis trend and subject of historical surface work by artisanal miners, generated several higher-grade drill intercepts, from six (6) core holes totaling 532 metres (Table 6), including the following: 6.0 metres (ETW of 5.19 metres) grading 4.46 gpt gold at 39 metres downhole in EMD22- 213. Results have been varied in the Ann prospect due to large volumes of intrusions, although there have been significant intersections of gold mineralization between these intrusions, suggesting a continuation of low-angle Eagle Mountain-style structures.