Goldshore expands Moss Project winter drilling to 20,000 metres, Ontario
Goldshore Resources Inc. [TSXV: GSHR); OTCQB: GSHRF; FSE: 8X00] reported a 5,000-metre expansion of its winter diamond drilling program at its 100%-owned Moss Gold Project, Ontario, Canada.
Due to the successful results and cost-effective execution of the ongoing drilling program, which is nearing completion well under budget, Goldshore is adding an additional 5,000 metres of drilling bringing the total winter diamond drilling program to 20,000 metres.
The additional metres will be focused on the following: expanding the resource at the southwest portion of the deposit by drilling underneath the current conceptual open pit, following up on drill hole MMD-24-139 which intersected 20.55 metres of 2.58 g/t gold from 458.15 metres, including 14.7 metres of 3.52 g/t gold, and closing the gap between the Southwest and Moss Main pits.
The company believes this program has the potential to add significantly to the current Mineral Resource Estimate with a minimal amount of additional drilling and positively impact the economic performance of the project.
Michael Henrichsen, CEO, commented, “We’re very pleased to expand our existing program, fueled in part by efficiencies from our ongoing work, as this will allow us to focus on drilling in the Southwest deposit with the objective to deepen the Southwest open-pit resource to the same depths of the Main-QES pit.”
The company’s current focus is the advanced stage 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.