Those of you who followed my re-accumulation buy-signal on 7 January 2010 on Source Gold (SRGL) are once again in the profit-zone. On 7 January, I stated: Source Gold Corp. (SRGL) is now trading in a prime “re-accumulation” buy-zone at the current $0.66 per share level -- make sure you reload on our #1 emerging gold explorer now before the stock’s next projected upward run to above $2.

Currently, the SRGL share-price is trading right around the $1.60 level – or approximately 142% above our re-accumulation buy-point at $0.66 per share. I recommend taking partial profits off the table and holding the remainder of your SRGL position for longer-term projected gains.

Source Gold continues to make solid progress at its KRK West Gold Project, including:

23 March 2010: Source Gold Begins 2010 Spring Gold and Copper Exploration Program

5 May 2010: Source Gold Increases Property Holdings in Beardmore-Geraldton Area With 100% Ownership in New Claim Group

Source has now acquired a 100% ownership in a total of 21 mineral claims spanning approximately 12,440 acres. The company’s exploration campaign could begin heating up in the very near-term. SRGL has announced that it will commence an extensive exploration program within the coming weeks. Source also expects to enter into an operator’s agreement with a highly respected national firm with extensive knowledge in the region to facilitate the spring and summer exploration program.

Although the Source Gold share-price has not yet moved substantially above the $2 mark (SRGL reached an interim high of $2.03 on 26 April), we see SRGL moving higher over the coming business quarters as the company expands its underground mineralized asset through its upcoming exploration program. Keep in mind also that taking “partial profits” off the table during an upward price-run is a prudent money-making strategy – and one you should consider at current price-levels.

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