Goldshore Resources drills 124.35 metres of 1.65 g/t gold, including 47.0m of 3.08 g/t Au, at Moss Deposit, Ontario
Goldshore Resources Inc. [TSXV: GSHR; OTCQB: GSHRF; FWB: 8X00] reported its latest assay results from its ongoing 20,000-metre drill program and the first results from QES Up program targeting the near surface extension of the most northern QES shears at the Moss Gold Project in northwest Ontario, Canada. In addition, the drilling targeted the main QES zone to determine the continuity of higher-grade mineralization and its orientation.
Michael Henrichsen, CEO, commented, “Results from our drilling campaign continue to demonstrate both the consistency and continuity of grade at the Moss Deposit with drill hole MQD-25-171 surpassing the 200 grade x thickness (GxT) threshold representing the highest GxT ever reported by the company. We are pleased to see good continuity of higher grades as well as determining that this higher-grade mineralization has a shallow plunge to the west, which will help us target additional high-grade mineralization within the deposit. We look forward to further results being released over the coming weeks.”
Highlights: Results from two drill holes, which infilled significant drilling gaps in the QES Zone, intersected wide intervals of gold-mineralized core shears, including the highest-grade x thickness intersection ever reported by Goldshore. The results confirm the presence of shallow-plunging, higher-grade gold mineralization within the core shears and demonstrate the potential to discover additional plunging shoots. In addition, the results from MQD-25-171 exceeded the grade expectations based on the current Mineral Resource Estimate (MRE) with best intercepts of 124.35 metres of 1.65 g/t gold from 295.0 metres in MQD-25-171, including 7.55m of 1.97 g/t Au from 322.3m and 47.0m of 3.08 g/t Au from 336.0m; 77.5m of 0.54 g/t Au from 203.5m in MQD-25-170, including 11.4m of 1.24 g/t Au from 208.6m and 7.35m of 1.09 g/t Au from 246.0m.
Three additional short holes and the two extended holes successfully intersected the near surface extensions of deeper marginal shears along the northern edge of the QES Zone at QES Up with best intercepts of 8.6m of 0.53 g/t Au from 138.4m in MQD-25-153, including 2.0m of 1.03 g/t Au from 145m; 7.2m of 0.36 g/t Au from 107m in MQD-25-154; 13.55m of 0.59 g/t Au from 88.5m in MQD-25-156, including 2.1m of 1.17 g/t Au from 96.9m; 3.0m of 1.60 g/t Au from 75.0m in MQD-25-170 and 8.0m of 0.54 g/t Au from 83.0m in MQD-25-171.
Ongoing drilling has targeted QES Up, which aims to prove the surface extension of deeper-modelled mineralized shear zones along the northern boundary of the QES Zone. This area lies entirely within the conceptual open pit with all mineralized intersections representing opportunities to convert currently modelled waste to mineral resource. Two holes were extended through the entirety of the QES Zone, where they infilled gaps in the existing drilling.
The broad mineralized intercept is believed to represent a higher-grade mineralized shoot that extends along a distinct, near-horizontal, plunging zone, which will be explored further during the deposit definition drilling program.
The company’s current focus is the advanced stage 100%-owned Moss Gold Project which is positioned in Ontario, Canada, 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.