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Goldsource Mines Inc.

Investor Highlights

  • Extensive management experience in low-cost phased project execution in the Americas
  • Guyana: an excellent jurisdiction. British law. No environmental, no social issues.

Vision at Eagle Mountain: Support a large-scale 4,000-5,000 t/d open pit gravity/CIL gold operation, focused on low strip ratio, low cost mining of EM’s surficial saprolite resources.

OPERATIONS

  • Phase I Development (Pilot Plant) already built in 2015/16 and commissioned. Gravity only processing plant, open pit mine.
  • Mix of dry (truck-excavator) and wet mining (Marok pumping).
  • The Company intends to operate the plant at lower volumes (part time) until optimum parameters are achieved on a consistent basis to support breakeven to positive cash flow. In addition, operate to collect information for Large Scale Mining A) further test Marok, B) optimize cyclone, C) metallurgical test work.
 

EXPLORATION / DEVELOPMENT

  • Immediate focus is on increasing our saprolite resources to a minimum of 600,000 oz, grading 1.0-1.5 g/t, via expansion and in-fill drilling which started in late May 2017. Core Rig purchased.
  • Add new gold ounces and upgrade inferred resources into the indicated category in an updated resource estimate (Q4 2017).
  • An NI43-101 compliant Pre-Feasibility Study will commence in June 2017. Tetra Tech Inc. of Canada retained. Delivery H1 2018.
 

Strategy - Next Three Years
Our Vision: Become a low cost gold producer in Guyana. 
Production Capacity Target: 4,000 to 5,000 tonnes per day within 2-3 years.

  • Increase saprolite resource with further drilling
  • Produce New Mine Plan & Reserves
  • Deliver a PFS for a Gravity/CIL plant, based on increased resource & mine life.
  • Transition from medium scale to large scale mining license (which incl. EIAS, EPA submission & Final Permitting - Mineral Production Agreement with Government of Guyana & Environmental Permit)
  • Subject to success, Finance, Development, Mine Construction, Commissioning & Production (2019-2020)