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Goldsource Mines says cease trade order revoked

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Goldsource Mines (CVE:GXS) said Monday that the British Columbia Securities Commission (BCSC) has revoked a cease trade order, effective March 9.

The company has applied to the TSX Venture Exchange for the reinstatement of trading of the company’s shares.

BCSC issued the halt on trading earlier this month following the publication of a preliminary economic assessment (PEA) for its Border Coal Project in Saskatchewan that disclosed coal resources in a "Speculative" category not permitted under NI 43-101 rules.

The removal of the "Speculative" coal resources from the report has no impact on the previously-stated PEA for Border Coal and the company has retracted all references to "Speculative" coal resources and filed an amended report.

The NI 43-101 compliant mineral resources at the Border Coal Project are comprised of indicated mineral resources of 79.1 million tonnes of coal and inferred mineral resources of 33 million tonnes of coal ranking between Sub-bituminous C and Lignite A coal types.

Goldsource Mines is a Canadian resource company engaged in the exploration and development of Canada’s newest coal field in the province of Saskatchewan.

The company has discovered 17 coal deposits of varying size with coal zone thicknesses up to 126 meters in this new thermal coal field that lies within the permit area of the Border Coal Project.

Quick facts: Goldsource Mines Inc

Price: 0.125 CAD

TSX-V:GXS
Market: TSX-V
Market Cap: $48.72 m
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