Eagle Mountain Construction Update

 

VANCOUVER - Goldsource Mines Inc. reported that construction at its Phase I Eagle Mountain Gold Project located in Guyana, South America is nearing completion and testing of selected plant components is underway. Plans for Phase I are based on the Preliminary Economic Assessment of the Eagle Mountain Saprolite Gold Project, Guyana Technical Report (PEA), which called for a 1,000 tonnes per day open pit gravity plant and post-commissioning cash operating costs of US$500 to US$600 per ounce of gold.

Yannis Tsitos, President, said, "We are generally pleased with Eagle Mountain's construction progress with most of our mine construction tasks either completed or nearing completion. During shipment to site, an automation control panel was damaged which required replacement and has delayed our previously targeted year-end production by about 4 to 6 weeks. The replacement panel is currently being delivered by air-freight to Guyana. Testing of sections of the process circuit is in progress. We expect to be under budget with final commissioning and initial production to occur in early 2016."