Source Exploration Extends Mineralized Zone at Las Minas by 650m Down-dip

Source Exploration Corp. (TSXV:SOP,FWB:4QW) reported that the mineralized zone at the Las Minas gold project in Mexico has been extended. It now extends approximately 650 metres down-dip, with initial step-out drilling linking the flat dipping Eldorado/Juan Bran zone with earlier drilling completed in 2011 further south.

Highlights include intersections of 22.0 metres grading 2.00 g/t Au Eq, 14.0 metres grading 4.01 g/t Au Eq, and 14.3 metres grading 3.59 g/t Au Eq. Sixteen diamond drill holes have been drilled in the 2015 program which aimed at testing the Eldorado/Juan Bran, Santa Cruz and Nopaltepec targets.

The assay results for the additional nine holes are pending.

As quoted in the press release:

El Dorado/Juan Bran Drilling

Drilling in 2014 at the El Dorado/Juan Bran target outlined a flat-dipping mineralized zone measuring from 170 metres to 420 metres in width and extending approximately 270 metres down-dip. Discovery hole LM-14-JB-02 graded 4.45 g/ t Au Eq over 6.0 metres in the upper zone and 3.10 g/t Au Eq over 15.1 metres in the lower zone (see Press Release August 29, 2014).

Recently completed holes LM-15-ED-20 & 21 were drilled as step-out holes to drill test the down-dip extension of the zone. These holes were drilled from the same drill pad, located approximately 170 metres south of Juan Bran discovery hole LM-14-JB-02. Hole LM-15-ED-20, drilled at -45 degrees to the west, intersected 4.67 g/t Au Eq over 8.0 metres, contained within 22.0 metres grading 2.00 g/t Au Eq.

Hole LM-15-ED-21 was drilled as a vertical hole and returned 5.89 g/t Au Eq over 8.0 metres, contained within 14.0 metres grading 4.01 g/t Au Eq. The mineralized intercept cut in hole LM-15-ED-21 was located approximately 85 metres east of the intercept in hole LM-15-ED-20.

Hole LM-15-SC-22, located approximately 100 metres south of LM-14-JB-02, was drilled at -55 degrees to the west. The hole cut 4.14 g/t Au Eq over 12.3 metres, contained within 14.3 metres grading 3.59 g/t Au Eq.

Additional Step-Out Drilling with Results Pending

Additional step-out holes with assays pending include LM-15-ED-23 & 24 as well as LM-15-JB-09. Significant intercepts with chalcopyrite and bornite mineralization were visually identified in these holes.

Hole LM-15-ED-23 was located 120 metres to the south of hole LM-15-ED-21. Skarn mineralization was intersected from 93.6 to 112.3, totaling 18.7 metres. The upper portion was in exo-skarn with chalcopyrite mineralization, visually estimated to be approximately 3 to 5 % by volume. The lower zone, extending from 107.4 to 112.1 metres, was in endoskarn, with chalcopyrite visually estimated to be approximately 1 to 2 % by volume, decreasing downward.

Hole LM-15-ED-24 intersected skarn mineralization from 113.2 metres to 132.9 metres, totaling 19.7 metres and comprised mainly of 20 to 30 percent magnetite by volume, locally up to 40 to 60 percent. Both chalcopyrite and bornite mineralization were noted, with chalcopyrite occurring as masses and veins visually estimated to be 3 to 5 % by volume.

Hole LM-15-JB-09 was collared 140 metres to the west of hole LM-15-ED-24 to test the width of the southern extension of the zone. The hole cut 6.0 metres of exo-skarn and retrograde endoskarn, visually estimated to contain 3 % by volume of chalcopyrite and bornite mineralization. The mineralized zone was cut off by a late feldspar porphyry dyke.

Source Exploration Chairman, David Baker, said:

We are thrilled with these high-grade drilling results from the step-out drilling at the Eldorado/Juan Bran Zone. The drilling has outlined a large zone with encouraging tonnage potential that remains open on dip and strike. These results, plus previously reported drilling results from the high-grade Santa Cruz zone, are indicative of the property’s potential.

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