Goldshore Resources Inc. [GSHR–TSXV; GSHRF-OTCQB; 8X00-FWB] reported gold assay results from the first three holes (MMD-21-001 to MMD-21-003) drilled to validate gold mineralization at the Moss Lake gold deposit approximately 100 km west of Thunder Bay, northwestern Ontario.
Significant width increase: Mineralization was intersected over 550 metres in MMD-21-001, which corresponds to an estimated true thickness of 422 metres, which is a 52% increase over the 2013 historical resource model in that area.
Substantial depth extension: Mineralization was intersected between 100 metres and 500 metres below the 2013 historical resource model in MMD-21-002, which represents an over-100-per-cent increase to the known vertical extent of the gold zones in this area.
Several higher-grade zones were identified. Best intercepts include 57.00 metres at 1.20 g/t gold from 4.0 metres and 36.00 metres at 1.15 g/t gold from 182.0 metres in MMD-21-003; 31.00 metres at 1.18 g/t gold from 122.0 metres and 16.30 metres at 2.09 g/t gold from 350.7 metres in MMD-21-001; and 35.00 metres at 1.09 g/t gold from 100.0 metres in MMD-21-002.
Drilling is just beginning. The three holes reported here represent only 2.3% of the planned 100,000 metres of drilling scheduled to be completed by the end of Q2 of 2022 as the drill program ramps up from two to four drill rigs.
Brett Richards, president and CEO, commented: “These are the first drill hole results from the very beginning of our 100,000-metre program. The results from these first holes validate our belief that the Moss Lake gold deposit is very underexplored and geologically misunderstood, given the wide lateral extension indicated by these results. We are also seeing a good correlation with the twinned historic drill hole (ML-08-03) as noted [as follows] in this release. These two early observations are very encouraging and we continue
Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome Gold Mines Ltd. [WDO-TSX; WDOFF-OTC] is a shareholder of Goldshore with an approximate 30% equity position in the company.