Goldsource Mines Inc. announced exploration results for the Company's 100%-owned Eagle Mountain Gold Project in Guyana, South America. Reported results are for a new discovery called North Zion with trenching and seven (7) core holes totalling 378 metres. An additional twenty-one (21) core holes totalling 1,606 metres are reported from the Montgomery, South Toucan and Ann prospects. The 2022 exploration program has followed a two-pronged approach with the re-initiation of generative exploration activities focusing on underexplored areas of the prospecting license and the concurrent drilling of known prospect areas to test for mineralized extensions. The North Zion prospect, located approximately 600 metres north of the Eagle Mountain deposit mineral resource outline, as defined by the April 2022 Mineral Resource Estimate ("April MRE"), was one of several new areas tested as part of the generative program. The Montgomery, South Toucan and Ann prospects, located along the north- south Salbora-Powis trend, were the subject of a modest-sized drill program to test for extensions along Siparuni Region Guyana, NI 43-101 Technical Report" dated May 24, 2022, with an Effective Date of April 5, 2022. Results for two (2) trenches including 126 channel samples over 254 metres and seven (7) core holes totaling 378 metres. Trench NZTR22-005 returned 40.0 metres grading 5.16 grams per tonne ("gpt") gold in saprolite down the length of the trench and 14.0 metres grading 1.25 gpt gold (Table 1). From the base of the trench, 24 auger holes at 5-metre spacing tested up to 6 metres depth. Significant intercepts include 4.5 metres grading 8.22 gpt in NZTR22-005A10 and 5.5 metres grading 2.21 gpt in NZTR22-005A9 (Table 2).
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.