Goldshore’s VTEM Survey Reveals 29 Undrilled High Priority Targets and Expands Prospectivity Strike Length for Moss Lake Targets Expanded from 2.5km to 11km
Goldshore’s VTEM Survey Reveals 29 Undrilled High Priority Targets and Expands
Prospectivity
Strike Length for Moss Lake Targets Expanded from 2.5km to 11km
VANCOUVER, B.C., March 10, 2021: Goldshore Resources Inc. (TSXV: GSHR / OTCQB:
GSHRF / FWB: 8X00) (“Goldshore” or the “ Company”), is pleased to announce that it has
received the final processed models and targets from TechnoImaging LLC (“TechnoImaging”)
from the heliborne Versatile Time -Domain Electromagnetic (VTEM™ Plus) and Horizontal
Magnetic Gradiometer geophysical survey conducted by Geotech Ltd. (“Geotech”) on the Moss
Lake Gold Project located in Northwest Ontario (Figure 1).
Highlights:
• Eleven new chargeability targets with a Moss Lake gold deposit signature: this
increases the potential combined strike length of gold targets from the current 2.5km to a
total of 11km. There are several smaller targets of similar character that will also be
evaluated.
• Moss Lake is already richly endowed: The current 2.5 km strike length hos ts historic
Indicated Mineral Resources of 39.8Mt containing 1.4 million ounces gold at an average
grade of 1.1 g/t Au and Inferred Mineral Resources of 50.4Mt containing 1.8 million ounces
gold.
• Six folded magnetic targets with an East Coldstream gold deposit signature: these
new targets lie within folded magnetic signatures on the eastern magnetic domain
boundary that hosts the East Coldstream gold deposit.
• Twelve magnetic conductors suggesting additional copper prospects: these are
blocky VTEM conductors with an elevated magnetic signature similar to the anomaly
defining the historic North Coldstream copper -gold mine. Goldshore notes the
preponderance of graphitic strata that is generating several planar anomalies and may be
contributing to these potential copper targets.
• Click here to for an interactive 3D walkthrough of the interpretation
Brett Richards, President and Chief Executive Officer of Goldshore commented: “TechnoImaging
and our team have done an excellent job in developing and fine tuning the 3D models of various
geophysical parameters, relating them to known mineralization styles in the district, and
generating an inventory of high- quality exploration targets. These will form the basis of further
field work and scout drilling over the next two years. We look forward to reporting on the discovery
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of new mineralized systems and expanding t he resource footprint as our development team
continues to advance the main Moss Lake Project to PEA/PFS.”
Figure 1: Detailed TMI models (dark colours for west and east domains; pale colours for central domain) over the regional
magnetics image showing the boudinaged/sheared character of the west and east domains, and the folded nature of the central
domain
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Figure 2: Perspective view of the Moss Lake gold deposit showing its geophysical signature
Next Steps
Goldshore will continue the process of data scraping historic assessment reports to extract soil
geochemical data and geological mapping information. This will help prioritise the target inventory
and focus scout drilling.
Peter Flindell, VP Exploration commented: “A considerable amount of work has gone into refining
the geophysical datasets to remove non- bedrock targets and characterize the potential sources
of each anomaly . This includes identifying geophysical settings that are similar to Moss Lake,
East Coldstream and North Coldstream deposits. This work underscores the prospectivity of the
Moss Lake land package and forms the focus of our generative exploration program that will run
in parallel to the resource development program aimed at advancing the Moss Lake gold project
toward Pre-Feasibility.”
Click here for a comprehensive technical summary and overview of the interpretation
About Goldshore
Goldshore is an emerging junior gold development company and owns the Moss Lake Gold
Project located in Ontario. The Project is host to the Moss Gold Deposit which contains historic
Indicated Mineral Resources of 1.4 million ounces of gold at 1.1 g/t Au and historic Inferred
Mineral Resources of 1.8 million ounces gold at 0.98 g/t Au 1. Wesdome Gold Mines Ltd. is
currently a strategic shareholder of Goldshore with an approximate 26% equity position in the
Company. Well-financed and supported by an industry -leading management group, board of
directors and advisory board, Goldshore is positioned to advance the Moss Lake Gold Project
through the next stages of exploration and development.
Qualified Person
Peter Flindell, MAusIMM, MAIG, Vice President – Exploration of the Company, a qualified person
under NI 43 -101 has approved the scientific and technical information contained in this news
release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For More Information – Please Contact:
Brett A. Richards
President, Chief Executive Officer and Director
Goldshore Resources Inc.
P. +1 604 288 4416 M. +1 905 449 1500
W. www.goldshoreresources.com
Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres
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References
1 Poirier, S., Patrick, G.A., Richard, P.L., and Palich, J., 2013. Technical Report and Preliminary Economic Assessment for
the Moss Lake Project, 43-101 technical report prepared for Moss Lake Gold Mines Ltd. Moss Lake Deposit resource
estimate is based on 0.5 g/t Au cut-off grade for open pit and 2.0 g/t Au cut-off grade for underground resources.
Cautionary Note Regarding Forward-Looking Statements
This news release contains statements that constitute “forward-looking statements.” Such forward
looking statements involve known and unknown risks, uncertainties and other factors that may
cause the Company’s actual results, performance or achievements, or developments to differ
materially from the anticipated results, performance or achievements expressed or implied by
such forward- looking statements. Forward looking statements are statements that are not
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that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this news release include, among others, statements relating to
expectations regarding the exploration and development of the Moss Lake Gold Project, including
planned drilling activities, an update to the hi storical preliminary economic assessment,
advancement of the Moss Lake Gold Project towards pre- feasibility, and other statements that
are not historical facts. By their nature, forward- looking statements involve known and unknown
risks, uncertainties and other factors which may cause our actual results, performance or
achievements, or other future events, to be materially different from any future results,
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to time in order to continue its operations which may not be available when needed or on
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Company’s securities, regardless of its operating performance; and the impact of COVID-19.
The forward-looking information contained in this news release represents the expectations of the
Company as of the date of this news release and, accordingly, is subject to change after such
date. Readers should not place undue importance on forward-looking information and should not
rely upon this information as of any other date. The Company undertakes no obligation to update
these forward-looking statements in the event that management's beliefs, estimates or opinions,
or other factors, should change.
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