Goldshore drills 2.58 g/t gold over 20.55 metres at Moss Gold project, Ontario
Goldshore Resources Inc. [TSXV: GSHR; OTCQB: GSHRF; FSE: 8X00] reported its latest assay results from its ongoing 15,000-metre drill program at the Moss Gold Project in northwest Ontario. The primary goals of the winter drill program are to add to the current resource model by extending mineralization from depth into the top 100-200 meters from surface within the conceptual open pit and to demonstrate the potential for resource growth outside of the current mineral resource estimate.
Michael Henrichsen, CEO, commented, “We are pleased with the latest batch of drill results which clearly demonstrate the potential for resource expansion at higher grades in the southwest area of the Moss deposit. These results are exactly what we were anticipating to drive growth and demonstrate the true potential of the deposit moving forward. We look forward to sharing additional results from the winter drill program and regional exploration program in the coming weeks and months.”
Highlights: Results from hole MMD-24-139 extended gold mineralization with increased grades 150 metres below the conceptual open pit resource at the southwest end of the Moss deposit with intercepts of 20.55 metres of 2.58 g/t gold from 458.15 metres, including 14.7 metres of 3.52 g/t gold from 464.0 metres.
Hole MMD-24-139 also confirmed mineralized shears on the southeast flank of the Southwest Zone extending known mineralization toward surface and encountering new mineralized shear zones with intercepts of 7.8m of 1.03 g/t Au from 221.1m; 2.4m of 1.44 g/t Au from 251.6m; 5.5m of 1.89 g/t Au from 302.5m, including 0.6m of 15.8 g/t Au from 307.4m; 7.65m of 1.41 g/t Au from 318.35m, and 3.0m of 1.47 g/t Au from 338.0m.
Holes MMD-24-135, MMD-24-138, and MMD-24-139 also extended numerous mineralized shears toward surface in the Southwest Zone with intercepts of 20.0m of 0.89 g/t Au from 81.0m in MMD-24-135, including 3.85m of 2.86 g/t Au from 87.0m, and 26.0m of 0.61 g/t Au from 107.0m, including 5.7m of 1.17 g/t Au from 107.0m; 20.8m of 0.76 g/t Au from 108.8m in MMD-24-138, including 2.05m of 3.33 g/t Au from 123.3m; 11.1m of 0.58 g/t Au from 108.5m in MMD-24-139.
Drilling at the Southwest Zone aims to add to the mineral resource by infilling gaps within the current model created by sparse drilling. Drilling at shallow depths of 100-200 metres will allow for mineralized shear zones to be extended to the surface. Drilling at depths of 200 to 400 meters will allow the expansion of the open pit resource to a similar depth as the Main-QES pit (~500 metres).
The company’s current focus is the advanced stage 100%-owned Moss Gold Project with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce.
The company has invested over $60 million of new capital and completed approximately 80,000 metres of drilling on the Moss Gold Project, which, in aggregate, has had over 235,000 metres of drilling. The 2024 updated NI 43-101 mineral resource estimate (MRE) has expanded to 1.54 million ounces of Indicated gold resources at 1.23 g/t Au and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au. The MRE only encompasses 3.6 km of the 35+ km mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for development in this cycle.