Goldsource Mines Inc. report that it has received 8 Quarry permits from the Manitoba Science, Technology, Energy and Mines Branch totalling approximately 44,670 hectares. The issuance of the permits is in response to the Company's applications that have been outstanding for up to 14 months. The NI 43-101 Technical Report being prepared by independent Qualified Persons for the Border Project is nearing completion. The report had been expected to be completed by the end of the third quarter, however, the addition of the late summer drill results and proximate laboratory analysis delayed compilation of the coal quality estimations for each deposit. Goldsource will announce the resource estimations and compiled coal quality data as soon as they are available and is required to file the NI 43-101 Technical Report within 45 days after that announcement.
Goldsource Mines reported that it has completed the final eight holes of the summer phase of drilling at its wholly-owned Border Project located near Hudson Bay, Saskatchewan, Canada which encountered 23 to 50 metre coal intercepts. Drilling to date has discovered 15 coal deposits at Border with potential for additional coal discoveries. The highlights of the summer program and Border drilling includes the discovery of the “Niska” sub-basin with 3 new coal deposits with aggregate true coal thicknesses ranging from 23 to 62 metres as well as 6 new coal deposits in previously discovered sub-basin and 13 drill holes intercepted aggregate coal thicknesses ranging from 5.5 metres to 62.0 metres.
Goldsource Mines reported that it has discovered a new Sub-basin, named “Niska”, at the Border Project. The Niska Sub-basin is approximately 5 kilometres by 10 kilometres in size and contains at least three areas with coal intercepts aggregating up to 62 metres in true thickness. Twelve core holes totaling approximately 2,100 metres have been drilled during the summer program using a helicopter supported drill rig. The most significant coal intervals occurred in the Niska Sub-basin and included holes BD09-105 and BD09-107 with true aggregate thicknesses of approximately 28.0 metres and 62.0 metres respectively of dull to bright coal with similar visual and geophysical characteristics.
Advanced or Above