Source Exploration Reports New Discovery at Las Minas, Intercepts 5.74 G/t Gold Eq Over 17 Meters

Source Exploration (TSXV:SOP,FWB:4QW) reported it has found a new highly mineralized zone as a result of recent drilling at the Nopaltepec target at its Las Minas property in Mexico. One discovery hole included intercepts of 5.74 grams per tonne of gold equivalent over 17 meters, including 5 meters grading 13.7 grams per tonne equivalent and containing 1 meter grading 35.02 grams per tonne of gold equivalent.

As quoted in the press release:

Additional and separate mineralized intercepts included 1.33 g/t Au Eq over 10.3 metres, 2.21 g/t Au Eq over 8.0 metres, 0.55 g/t Au Eq over 44.0 metres and 1.20 g/t Au Eq over 4.0 metres. The hole ended in mineralization. The new zone occurs approximately 100-150 metres above the downward projection of the recently drilled El Dorado /Juan Bran zone – see press releases dated May 7 & 26, 2015. The grades and type of mineralization are similar to the high –grade mineralization at the Santa Cruz target, located approximately 250 metres to the east.

Discovery hole LM-15-NP-01 was drilled to explore for mineralization in an area located across a small canyon from the high –grade Santa Cruz zone. The hole intersected multiple mineralized intercepts from near the collar to a depth of 191.0 metres. A high-grade intercept grading 5.74 g/t Au Eq over 17.0 metres was intersected from 108.7 metres to 125.7 metres. Higher up in the hole, 1.33 g/t Au Eq over 10.3 metres was intersected from 18.5 to 28.7 metres, as well as an additional 8.0 metre intercept grading 2.21 g/t Au Eq from 83.0 to 91.0 metres. Deeper in the hole, a long intercept measuring 44.0 metres grading 0.55 g/t Au Eq was intersected from 153.0 to 191.0 metres. The hole ended in mineralization, with the bottom 4.0 metres grading 1.20 g/t Au Eq..

Holes LM-15-NP- 02 and 03 were drilled as step –out holes to the south. They were not extended to depth due to a concentration of post mineralization dykes in this part of the zone. Hole LM-15-NP- 02 intersected 1.42 g/t Au Eq over 7.4 metres, contained within 10.5 metres grading 1.22 g/t Au Eq. Hole LM-NP-03 returned 0.42 g/t Au Eq over 8.0 metres near the collar of the hole.

Source Exploration Chairman, David Baker, said:

We are very excited about the discovery of high- grade mineralization over significant intervals at Nopaltepec. The numerous intercepts and their close proximity to the high-grade Santa Cruz zone lead Source’s management team to believe that the two zones are part of the same mineralizing system, with considerable opportunity to define a mineral resource.

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