Thunder Bay, Ontario
Thunder Bay, Ontario TSX-V: SOP
For Immediate Release April 3, 2017
SOURCE PROVIDES UPDATE ON LAS MINAS DRILLING AND
EXPLORATION
SOURCE EXPLORATION CORP. (the “Company” or “Source”) (TSX-V: SOP) (OTCMKTS:SRXLF /
FRA:4QW1) provides an update on the diamond drilling and exploration program currently underway at
its Las Minas property, Veracruz State, Mexico.
Diamond Drilling Program Update
The Company mobilized a diamond drill at the Las Minas site in mid-February to commence a 2,800
metre drilling program at its gold, copper and silver pr oject. The program consists of infill/extension as
well as step-out drilling to expand the mineralized f ootprint of the El Dorado/Juan Bran zone. The drilling
builds on previous drilling campaigns at this high prio rity target (See press releases dated February 4,
2014, March 13, 2014 and August 29, 2014. A total of 2,290 metres in 17 holes have been completed.
Samples for 9 holes have been sent to SGS Mineral Services laboratory in Durango, Mexico for
assaying, with results expected by the middle of April.
An initial mineral resource estimate for the mine ralized zone is planned for Q2. John T. Boyd, Mining and
Geological Consultants, has been engaged to commence work on the resource estimate, with a site visit
scheduled for early April.
Brian Robertson, Chairman and CEO of Source Explor ation, commented, “We have achieved significant
progress with the drilling program due to the high proficiency of the KDL drilling crew and our geological
team and support contractors at site. This drilling program will allow us to complete an initial mineral
resource estimate as well as identify prospective targets for additional work.”
Earlier drill campaigns at the Eldorado/Juan Bran skarn zone outlined a mineralized zone measuring
over 420 metres in width and extending over 650 metres down dip, with mineralized intercepts varying
from 8 to 60 metres in thickness. The zone remains open for expansion.
Pueblo Nuevo Exploration Program Update
In addition to the drilling program, detailed geological mapping, sampling and target definition are
underway at the Pueblo Nuevo concession. The concession hosts a number of historical mines with high-
grade mineralized vein systems. The La Miqueta mine, which is located within the concession, has at
least 21 known levels. The mine is believed to have been operated sometime in the early 1900s as a
small scale high-grade mine. Underground sampling results of the vein system at the Miqueta mine in
2007 -2008 by a prior owner ranged up to 14.06 g/t gold, 24.7 g/t silver and 020% copper over 3.0
metres.
Quality Assurance/Quality Control
The exploration program has been conducted under the supervision of Mr. Sonny Bernales, P. Geo. The
Company has implemented and adheres to a strict Q uality Assurance/Quality Control program which
includes mineralized standards and blanks for each batch of samples. Samples were shipped to SGS
Mineral Services (ISO/IEC 17025) at Durango, Mexico, an accredited laboratory.
The technical information in this news release has been reviewed and approved by Sonny Bernales, P.
Geo., Source’s Exploration Director, a certified professional geologist and a qualified person for the
purposes of NI 43-101.
About Las Minas
The Las Minas Project hosts near-surface gold–silver and copper skarn mineralization and high–grade
gold-silver epithermal vein deposits. The project is comprised of six mineral concessions covering
approximately 1,616 hectares (3,995 acres), with several small high-grade, past-producing mines and
numerous untested targets.
The district is host to one of the largest under-explored gold–silver and copper skarn systems known in
Mexico, and has a production history that extends back to the Aztec era. The Las Minas granodiorite
intrusive measures approximately 10 kilometres in diameter and underlies the Las Minas concessions.
The mineralization controls and association with magnetite appear to be similar to parts of the Guerrero
Gold belt, which is the site of the Los Filos and Morelos gold deposits.
Las Minas is an early–stage exploration project and does not contain any mineral resource estimates as
defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). The
potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient
exploration to define a mineral resource for the targets discussed herein. It is uncertain if further
exploration will result in these targets being delineated as a mineral resource.
About Source Exploration
Source Exploration is a Canadian based mineral exploration company committed to building long-term
value through ongoing discoveries and strategic acquisit ions of prospective precious metals deposits in
Mexico. Source is exploring the Las Minas Project, which is located in the core of the Las Minas district in
the Veracruz State, Mexico. The district is host to one of the largest under-explored skarn systems
known in Mexico and has a strong production history that dates back to the Aztec era.
For more information, please contact:
Brian Robertson, Chairman, President & CEO
Phone: 807-474-4270 or 807-251-1816
Fax: 807-474-4272
E-mail: [email protected]
Website at www.sourceexploration.com
CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION: This news release includes certain information that may
constitute "forward‐looking information" under applicable Canadian securities legislation. Forward‐looking information includes, but is not
limited to, statements about the magnitude or quality of mineral deposits, timing for the completion of the drilling program at Las Minas,
timing for the completion of a mineral resource estimate at Las Minas, anticipated advancement of mineral properties or programs, future
operations, results of exploration, prospects, commodity and precious metals prices, future work programs, anticipated financial and
operational results, capital expenditures and objectives and the completion and timing of mineral resource estimates. Forward‐looking
information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and
unknown risks, uncertainties, and other factors, which may cause the actual results and future events to differ materially from those
expressed or implied by such forward‐looking information, including the risks identified in the Company's disclosure documents available at
www.sedar.com. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward‐looking
information. All forward‐looking information contained in this press release is given as of the date hereof and is based on the opinions and
estimates of management and information available to management as at the date hereof. The Company disclaims any intention or
obligation to update or revise any forward‐looking information, whether as a result of new information, future events or otherwise, except
as required by law.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange)
have reviewed or accepts responsibility for the accuracy or adequacy of this release.