Goldshore intersects shallow mineralization at Moss Project, Ontario

Goldshore Resources Inc. [TSXV: GSHR; OTCQB: GSHRF; FSE: 8X00] reported its latest assay results from its ongoing 15,000-metre drill program and results from the Southwest Zone of the Moss Gold Project, northwest Ontario.

Michael Henrichsen, CEO, commented, “We are pleased with the continued success of our 15,000-metre winter drill program. Drilling at the Southwest Zone continues to demonstrate the upside of the Moss Gold Deposit, where results to date have brought mineralized shears toward surface, effectively converting waste to ore. Additionally, mineralization has been extended beneath the conceptual open pit, highlighting the potential for significant resource growth with additional drilling. Our focus is to continue demonstrating upside within the deposit, with the drill rigs currently following up on the Superion discovery at shallow depths at the northeast region of the deposit. We look forward to reporting continued accretive drill results over the coming weeks.”

Highlights: Results from five drill holes continued to extend mineralized shears toward surface at the Southwest Zone with best intercepts of 25.0m of 0.68 g/t Au from 133m in MMD-25-140; 25.5m of 0.71 g/t Au from 270.5m in MMD-25-142, including 3.1m of 3.92 g/t Au from 281m; and 5.15m of 2.68g/t Au from 135.65m in MMD-25-147, including 2.35m of 5.19 g/t Au from 135.65m.

Two holes drilling through previously defined lower grade material of the Southwest Zone have intercepted higher than anticipated grades in comparison to the current MRE with best intercepts of 8.0m of 2.53 g/t Au from 125m in MMD-25-142, including 4.2m of 4.57 g/t Au from 127m; 33.9m of 0.83 g/t Au from 192m, including 0.65m of 23.8 g/t Au from 201.45m; 25.89m of 1.15 g/t Au from 84.91m in MMD-25-147, including 3.17m of 6.8 g/t Au from 107.63m and 1.18m of 15.8 g/t Au from 109.62m.

Two holes were extended to test mineralized shears beneath the current open pit design with best intercepts of 15.0m of 1.68 g/t Au from 456m in MMD-25-140, including 1.0m of 11.6 g/t Au from 470m; 25.5m of 0.71 g/t Au from 270.5m in MMD-25-142, including 3.10m of 3.92 g/t Au from 281.0m.

Drilling at the Southwest Zone continues to focus on adding to the mineral resource by infilling gaps within the current model created by sparse drilling. Drilling at shallow depths of 100 to 200 metres will allow for mineralized shear zones to be extended to the surface. Drilling at depths of 200 to 400 metres will allow the expansion of the open pit resource to a similar depth as the Main-QES pit (~500 metres).

Hole MMD-24-137 collared into a sequence of andesitic and dacitic volcanic rocks with a swarm of narrow to epidote-chlorite altered diorite dykes until intersecting sheared sedimentary rocks containing a mineralized exhalative horizon at 188m. The exhalative horizon returned elevated gold and copper values including the intercept of 14.0m of 0.62 g/t Au and 0.41% Cu from 196.0m, including 3.0m of 1.58 g/t Au and 1.19% Cu from 204.05m. While the exhalative horizon does not appear to extend for any significant strike length, the new intersection highlights the potential for additional deposit styles and amplifies the potential of numerous untested conductors across the Moss claim package that correspond to known VMS mineralization.

Further desktop work is underway to evaluate similarities between the new horizon and the historic North Coldstream Cu-Au VMS mine. The hole was terminated after it entered the Southwest Zone diorite package that hosts mineralized shears tested by previous drillholes.

Hole MMD-25-141 collared into the northern dacite volcanic package before intersecting the centre of the Southwest Zone between high grade lenses. The hole intersected a weakly sheared, wide alternating silica-sericite and epidote-chlorite altered diorite intrusion package yielding several narrow lower grade intercepts such as 12.2m of 0.61 g/t Au from 163.0m and 13.0m of 0.61 g/t Au from 332m. The area had been previously modelled as having dominantly lower grades, which was confirmed by the infill drilling.

Hole MMD-25-140 and MMD-25-142 targeted the western end of the Southwest Zone aiming to both extend shears to surface near the collar and extend the core high grade shears below the current conceptual pit. Both holes collared into the andesitic and dacitic volcanic rocks before both drilling into the typical altered and locally sheared diorite package. Both holes extended existing mineralized shears towards surface with intercepts such as 25.0m of 0.68 g/t Au from 133.0m, including 3.2m of 1.19 g/t Au from 138.0m and 3.5m of 1.53 g/t Au from 154.5m, in MMD-25-140 and 6.5m of 1.11 g/t Au from 57.0m in MMD-25-142.

Additionally, each hole extended mineralization beneath the conceptual open pit with intercepts of 15.0m of 1.68 g/t Au from 456m, including 3.0m of 3.19 g/t Au from 458.0m in MMD-25-140 and 25.5m of 0.71 g/t Au from 270.5m, including 3.1m of 3.92 g/t Au from 281.0m.

Hole MMD-24-147 was collared into the Southwest Zone targeting the upward extension of several mineralized shears below Snodgrass Lake. The hole collared into the typical altered and locally sheared diorite- and granodiorite-hosted mineralization and drilled through to the volcanic package at 241m, shortly after which the hole was stopped. The hole intersected higher than predicted grades in comparison to the current MRE yielding an intercept of 25.89m of 1.15 g/t Au from 84.91m, including 3.17m of 6.8 g/t Au from 107.63m. The hole additionally confirmed the extension of several mineralized shears towards surface with intercepts of 5.15m of 2.68 g/t Au from 135.65m and 7.29m of 1.03g/t g/t Au from 216.14m.

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 meters 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.