ogi. This is the nr which you may have missed. I agree the first nr (yesterdays) had a few question marks..but this one is solid. Large step outs and some are shallow.
Goldsource Mines Inc (C:GXS) Shares Issued 19,336,681Last Close 2/26/2009 $1.18Friday February 27 2009 - News Release
Mr. J. Scott Drever reports
GOLDSOURCE ANNOUNCES COAL CONTINUITY DEVELOPING IN PASQUIA SUB-BASIN, BORDER PROJECT, SASKATCHEWAN; DRILLING INTERSECTS COMBINED COAL THICKNESS OF 56.2M
Goldsource Mines Inc. confirms that recent drilling is developing potential coal continuity over an open-ended area of approximately two square kilometres at the Border project located near Hudson Bay, in Saskatchewan, Canada. This area is currently open to further coal definition in all lateral directions. Drilling will continue to delineate this coal deposit, which is located in the Pasquia subbasin approximately 3.5 kilometres northwest of the Chemong area of the Border project, where a 132.6-metre coal zone intercept was announced in Stockwatch on Feb. 27, 2009.
Drill holes BD09-30, 32, 36, 37, 42, 45 and 46 were drilled as step-outs to holes BD08-02 and BD08-05, which previously encountered 23.4 metres and 36.05 metres of good-quality thermal coal, respectively. Hole BD09-37 intersected a 43.3-metre coal zone, including a 21.5-metre interval of combined dull to bright coal as well as an underlying 10.9-metre coal zone. Hole BD09-30 intercepted two coal zones measuring 34.8 and 21.4 metres, respectively, for a combined thickness of 56.2 metres of dull to bright coal. All coal zones presented in the accompanying table are estimated true thickness.
COAL ZONES
Hole From To Coal zone(i) Note
(metres) (metres) interval
(metres)
BD09-30 79.7 114.50 34.8 BD08-02 step-out of 420 m
124.1 145.5 21.4
BD09-32 61.5 63.6 2.1 BD08-05 step-out of 1.4 km
71.7 103.7 32
BD09-36 52.8 64.5 11.7 BD08-05 step-out of 275 m
75.0 80.4 5.4
BD09-37 96.9 140.2 43.3 BD08-05 step-out of 250 m
151.5 162.4 10.9
BD09-42 68.5 100.5 32 BD08-05 step-out of 550 m
124.5 133.5 9.0
BD09-45 55.2 84.4 29.2 BD08-05 step-out of 1.5 km
BD09-46 55.5 81.35 25.8 BD08-05 step-out of 750 m
(i) Visual identification of coal zone contains both coal and partings.
Drill holes BD09-27 and 28, drilled within the Pasquia area, contained no
significant coal intercepts.
Step-out drilling is in progress to determine the limits of this particular subbasin within the Border project in preparation for an initial coal resource estimation. In addition, other subbasins of coal are being delineated within the Border project (see press release dated Feb. 27, 2009, in Stockwatch).
J. Scott Drever, president, stated: "Our overall plan is to identify the priority areas that contain sufficient quantities of coal such that we can delineate resources that may be economically developed. The drill program to date has been very successful in identifying new deposit areas, and the 100-per-cent drilling success rate achieved so far by the step-out drilling around discovery hole BD08-05 is a huge advance in establishing a broad coal zone over several kilometres, which remains open laterally in all directions."
Initial identification of the intervals of the coal zone in the accompanying table is based on visual characteristics. The company cautions against placing undue reliance on the visual observations of the coal until the results of the analytical work have been announced.
Sampling and laboratory testwork at Loring Labs in Calgary have commenced, with initial results anticipated in March, 2009. Downhole geophysics have been completed on all holes, and adjustments to coal seam thickness may occur when reporting final results.
N. Eric Fier, CPG, PEng, and qualified person for this news release, has reviewed and approved its contents. |
