Cdnx GXS.V Thread

[missy33003]

This company was looking for diamonds in Saskatewan but found two drill cores with coal insitu. NO kimberlite however. How funny is that. Stock has taken off on spec. News due out next week on assay results. Holes were consistent and 1.6 KM apart.
Any insite would be helpful because I know that coal is a favorite of some of you.
Thanks



Goldsource Coal Intercepts in Saskatchewan

TSX-V: GXS For Immediate Release
VANCOUVER, B.C. April 28, 2008 – Goldsource Mines Inc. (the “Company”) wishes to make the following statements
regarding the intercepts of coal disclosed in its news release dated April 22, 2008. The Company cautions against placing
undue reliance on the visual observations set out below with respect to the coal until the results of the analytical work
underway have been announced.
• The coal intercepts were encountered in two core holes that were drilled as part of the Company’s ongoing
exploration program for diamondiferous kimberlites. The holes are located on the Border property approximately 50
kilometres north of Hudson Bay, Saskatchewan. The property is accessible by highway and railway which
transverse the area of interest.
• The Company believes that the coal encountered in the drill holes is of Cretaceous age. The coal is black and
moderately hard and therefore judged by visual characteristics to be either sub-bituminous or bituminous in rank
rather than lignite. The Company knows of no record of occurrences of lignite coal in Cretaceous aged rock
formations in Saskatchewan. A picture of a portion of one of the coal intercepts and representative photos of select
samples are attached.
• The top 22.6 metres of the coal seam appears consistent in both holes with few visible partings (less than 0.1metres).
The lower 4.5 to 11.6 metres is mixed coal and sandy/silty partings. The stratigraphy over-lying (glacial till and
mudstones) the top of the seam is also consistent between drill holes and there is only about 1.6 metres difference in
the elevations of the tops of the seam although the holes are 1.64 kilometres apart. The depth from surface to the top
of coal seam is approximately 80 metres. It is initially assumed that the coal seam is the same in both holes and
although the deposit appears to be of low complexity as defined by Paper 88-21 of the Geological Survey of Canada
for the standardized reporting of coal reserves and resources in Canada, additional drilling will be needed to confirm
this.
• The proximate analyses (ash, fixed carbon, moisture, thermal energy, etc.), rank of the coal, sulphur content and the
coal’s coking characteristics, if any, will be determined by the analysis of 47 core samples submitted to a certified
laboratory in Calgary, Alberta. The results are expected prior to the end of the week and will be released by the
Company once they have been compiled and integrated with all other data available to the Company. The Company
has retained half of the sampled core for future work.
• The Company has made application for coal permits covering the area of interest in accordance with the Coal
Disposition Act of Saskatchewan. The time frame for granting of the permits is dependent upon regulatory
requirements to process the applications.
• The Company has engaged Fugro Airborne Services who completed an airborne geophysical survey of the area in
2006 for diamond exploration to re-process the 5,700 line kilometres of EM geophysical data that is available to the
Company in an effort to delineate the aerial extent and the thickness of the coal seam.
• Depending on the results of the coal analysis and systematic compilation of all available data, the Company plans on
further drilling at the Border property after spring breakup and road restrictions are lifted in the area of interest.
• Mr. Drever, President of Goldsource Mines Inc. and Mr. Fier, CPG, P.Eng., who is a consultant and Qualified
Person for the Company, both have extensive experience in the exploration and evaluation of coal deposits in
Canada, USA and South America.
The Qualified Person for Goldsource is N. Eric Fier, CPG, P.Eng. who has reviewed and approved this news release.

[Naamplao]

Wow...a ten-fold stock price rise in a week!!!

Here is the SharpChart

GXS.V - SharpCharts from StockCharts.com

There is really no TA here...the stock took off like a Saturn rocket. Looking for diamonds and hit coal...

If I was lucky enough to own this stock I do believe I'd take profits RFN

A lot will depend on the analysis of the coal...sulphur content, ash, and type.

With such a rapid rise I would hesitate to jump in and buy at this point...this is at least 1-2 years away from being a producing mine. Worth watching though.

[missy33003]

It seems that everyone is jumping into the neighbours around GXS.
All up significantly today, along with GXS is
SMI.V
SWR.V
WGF.v
This is the next play it seems just like the Quebec gas find.
Lots of hype today.

[Naamplao]

Originally Posted by missy33003

It seems that everyone is jumping into the neighbours around GXS.
All up significantly today, along with GXS is
SMI.V
SWR.V
WGF.v
This is the next play it seems just like the Quebec gas find.
Lots of hype today.

Hmmmm....look at my comments on Moo.V, Pan.v and PCQ.V....After being touted on this forum they have dropped to 1/2 their values...they didn't rise as was predicted by the poster.

GXS looks wonderful, I agree. But I am not a short time player...I just look at stocks like this and mutter to myself, "Damn!...would have been nice to have gotten a heads up a week earlier!"

Nothing can rocket forever...it will have to come down....there is no mine there....there are no contracts there....It is moose pasture with coal underneath. It is emotion driving those stocks....Perhaps it will be a mine eventually but a lot more has to happen....I'll wait for the pullback...it will come.