Goldsource Mines

Financials:

Primary ticker: TSXV:GXS
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Eagle Mountain
Project location: Guyana, South America
Website: www.goldsourcemines.com

Goldsource Mines Inc. is Canadian exploration and development company focussed on the 100%-owned Eagle Mountain gold project in Guyana, South America. The Eagle Mountain Project contains 23 million tonnes grading 1.14 gpt gold for 848,000 oz gold in Indicated Resources and 25 million tonnes grading 1.09 gpt gold for 868,000 oz gold in Inferred Resources with additional exploration targets and tangible opportunities for production scalability. The Company is led by an experienced management team, proven in making precious metals exploration discoveries and executing on phased project development in the Americas.


Cash: CAD$10M (Oct 31, 2021)
Debt: Nil

Major shareholders:
VanEck Associates – 8.7%
Donald Smith Value Fund (NY, USA) – 7.7%
Eric Sprott – 5.6%
Management / Directors – 3.7%

Management Profile

Steve Parsons, Chief Executive Officer
Mr. Parsons is an accomplished mining and capital markets professional with 25 years of combined capital markets, mine operations and senior executive expertise. Mr. Parsons spent 14 years in the investment industry, with the majority of that time as a Senior Equity Analyst at National Bank Financial and Wellington West Capital Markets, focussed on precious metals and precious metal companies. He has previously served as Senior Vice President – Investor Relations at Yamana Gold Inc. Mr. Parsons holds a Bachelor of Applied Science (Mining Engineering) from Queen’s University and is a registered Professional Engineer in the province of Ontario.

What is your rationale for taking part 121 Mining Investment?

We are looking to raise awareness of the Eagle Mountain gold project among investors.

What recent news would you like to highlight to investors attending?

April 7, 2022 – Goldsource announced Updated Resource Estimate for Eagle Mountain Project, including Indicated Resource of 1.2Moz of Gold and Inferred Resource of 582,000oz of Gold

 

March 11, 2022 – Goldsource announced Phase-2 Exploration drill results for the Eagle Mountain Project, including 6.0m at 18.31 gpt gold and 9.0m at 9.29 gpt gold.

 

December 2, 2021 – Goldsource announced Phase-2 exploration drill results at Eagle Mountain Project. Highlights include 41.4 metres (ETW) at 4.30 gpt gold from surface, including 3.2 metres (ETW) at 26.77 gpt gold at the Toucan Prospect.

What are your key goals for the next 3, 6 and 12 months?

3 Months:
Follow-up on new discoveries

 

6 Months :
PFS in mid 2022 to provide definition on production and scalability