Goldshore Resources discovers more gold mineralization at Moss Gold Project, Ontario
Goldshore Resources Inc. [TSXV: GSHR; OTCQB: GSHRF; FSE: 8X00] reported its latest assay results from its ongoing 20,000-metre drill program and first results from Golden Gate, the gap between the Southwest and Moss Main conceptual open pits, from the ice drilling program of the Moss Gold Project in Northwest Ontario, Canada.
Michael Henrichsen, CEO, commented, “These results further validate our decision to expand the winter drill program by 5,000 metres with the objectives of deepening the Southwest conceptual open pit and to close the gap between the Southwest and Main pits. This winter’s drill program has demonstrated the emerging nature of the Moss Gold Deposit and its growth potential. We look forward to continued drilling to realize the full ounce potential of the deposit in the coming months.”
Highlights: Results from two drill holes targeting the gap between the Main and Southwest Zones intersected new high-grade mineralization representing a combined true width mineralized corridor of 75 metres connecting the two zones with best intercepts of 12.9 metres of 2.64 g/t gold from 243.4 metres in MMD-25-165, including 4.4 metres of 6.59 g/t gold from 250 metres, and 2.0 metres of 2.81 g/t gold from 98.0 metres in MMD-25-166, and 5.4 metres of 1.59 g/t gold from 143.6 metres, including 0.4 metres of 18.2 g/t gold from 143.6 metres.
Two holes drill testing the surface extension of deep mineralized shear zones in the Main zone successfully identified the continuation of these shears to surface with best intercepts of 10.0 metres of 0.55 g/t gold from 147 metres in MMD-25-167, including 2.0 metres of 1.51 g/t gold from 151 metres, and 8.05 metres of 0.58 g/t gold from 185.95 metres and 27 metres of 0.46 g/t gold from 154 metres in MMD-25-169.
Drilling has targeted the Golden Gate prospect, a critical gap in drilling data between the Main and Southwest Zones, and the surface extension of deeper modelled mineralized shear zones along the southern boundary of the Main Zone. Both areas aim to identify sufficient near surface mineralization between the conceptual Main and Southwest pits to merge the two pits together. The shallow portion of these areas are only accessible for drilling from lake ice and can be infilled at depth from near shore drill sites.
The company’s current focus is the advanced stage 100% owned Moss Gold Project in Ontario 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 gold and 5.20 million ounces of Inferred gold resources at 1.11 g/t gold.
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.