Goldshore Continues to Intersect Multiple +100m Wide Mineralized Zones at QES Zone Including 1.03 g/t Au over 152.0m in MQD-22-072
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Goldshore Continues to Intersect Multiple +100m Wide Mineralized Zones at QES Zone
Including 1.03 g/t Au over 152.0m in MQD-22-072
VANCOUVER, B.C., January 17, 2023: Goldshore Resources Inc. (TSXV: GSHR / OTCQB:
GSHRF / FWB: 8X00) (“Goldshore” or the “ Company”) is pleased to announce assay results
from its ongoing 100,000-meter drill program at the Moss Lake Project in Northwest Ontario,
Canada (the “Moss Lake Gold Project”).
Highlights:
• Results for seven holes, drilled to infill the western part of the QES Zone, have confirmed
and extended closely spaced higher -grade gold mineralized structures within a large
volume of mineralized diorite. The holes were drilled to infill a sparsely tested volume at
300 to 500 meters vertical depth over a 500- meter strike length. These results improve the
resolution of modelled shears and will potentially facilitate the expansion of pit -constrained
mineral resource in this volume. Best intercepts include (from East to West):
o 1.03 g/t Au over 152.0m from 464.0m depth in MQD-22-072 including
1.03 g/t Au over 10.25m from 466.7m,
1.27 g/t Au over 8.55m from 478.95m, and
1.76 g/t Au over 61m from 514m
o 0.95 g/t Au over 130.85m from 436.15m depth in MQD-22-070, including
1.37 g/t Au over 41.75m from 451.25m, and
1.40 g/t Au over 29.0m from 518m
o 0.61 g/t Au over 137.0m from 501.0m depth in MQD-22-092 including
2.67 g/t Au over 3.65m from 511.3m,
1.76 g/t Au over 6.0m from 568m, and
1.22 g/t Au over 8.7m from 625m
o 0.64 g/t Au over 153.2m from 521.0m, including
1.32 g/t Au over 8.65m from 533m,
1.19 g/t Au over 9.0m from 557m, and
1.00 g/t Au over 24.5m from 579.5m
• Hole MQD-22-094 collared in a new high-grade shear zone to the south of the QES Zone
that is believed to be an extension of the historic Boundary Z one. This is one of many
parallel shears that remains to be fully tested.
o 1.94 g/t Au over 11.3m from 1.7m in MQD-22-094
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President and CEO Brett Richards stated: “The results from these drill holes in the QES Zone are
part of the 52-hole data set that was not included in the recent mineral resource estimate . They
confirm our belief that there are additional high-grade shear zones within the deposit that will add
to the shear domain component of the mineral resource that we anticipate will be prioritized in the
mining schedule when we conduct our preliminary economic analysis this year.”
Technical Overview
Figure 1 shows the better intercepts in plan view and Figure 2 is a typical section through hole
MQD-22-072. Table 1 shows the significant intercepts. Table 2 shows the drill hole locations.
Figure 1: Drill plan showing best of several +1 g/t Au intercepts relative to implicit modelled grade shells
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Figure 2: Drill section through MQD-22-072 relative to implicit modelled grade shells and pit shell
Results have been received for seven holes that have infilled a poorly drilled volume of the QES
Zone over a strike length of 500 meters and at a depth of 300 to 500 meters. This corresponds to
the base of the constraining pit shell to the 2022 mineral resource and is an addition of drill data
100-200 meters beneath most of the drilling in the area.
The results confirm the geological interpretation that multiple higher-grade shears are hosted
within a greater volume of low -grade intrusion host and that this model extends at depth. The
addition of structural data at depth and along strike will allow for improved modelling of the shear
system and increased confidence in the mineralization, which should allow for an expansion of
the Mineral Resource in this area.
As with previous drill holes, the intercepts reported herein include several narrow high- grade
intercepts that mark the approximate centerline of shears. Examples include: 11.3 g/t Au over
1.6m from 507.05m depth in MQD-22-062; 10.4 g/t Au over 1m from 529m in MQD-22-070; 21.0
g/t Au over 0.45m from 522m, 23.6 g/t Au over 0.45m from 526.8m , 14.1 g/t Au over 0.5m from
536m, 13.8 g/t Au over 1m from 549m and 11.5 g/t Au over 0.45m from 571m depth in MQD-22-
072; 15.0 g/t Au over 0.4m from 580.85m in MQD-22-094 and 11.0 g/t Au over 0.6m from 636.6m
in MQD-22-097.
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Figure 3: Drill core from 549-550m (1m @ 13.8g/t Au) in MQD-22-072 highlighting sheared, altered intrusion.
The observation of parallel shears outside of the diorite intrusion, as noted near the collar of MQD-
22-094, implies that the mineralized system extends beyond the limits of intrusion. This suggests
substantial explor ation potential, particularly where the mineralized shears might transect
additional, but yet unmapped, intrusions.
Pete Flindell, VP Exploration for Goldshore, said “These drill results confirm the high-grade shears
that we have modelled at the QES Zone and show that there are additional shears that we can
model ahead of the next mineral resource update. This should all work together to add to the pit
constrained mineral resource.”
Table 1: Significant downhole gold intercepts
HOLE ID FROM TO LENGTH
(m)
TRUE
WIDTH (m)
CUT
GRADE
(g/t Au)
UNCUT
GRADE
(g/t Au)
MQD-22-062 202.00 204.00 2.00 1.4 0.44 0.44
494.20 511.90 17.70 14.1 1.31 1.31
including 505.90 508.65 2.75 2.2 7.33 7.33
533.00 540.50 7.50 6.0 0.41 0.41
546.50 548.90 2.40 1.9 0.31 0.31
557.10 561.20 4.10 3.3 0.31 0.31
575.65 579.40 3.75 3.1 0.38 0.38
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590.65 630.80 40.15 33.1 0.74 0.74
including 600.30 602.95 2.65 2.2 2.83 2.83
and 617.15 628.00 10.85 9.0 1.06 1.06
MQD-22-070 332.50 340.00 7.50 5.9 0.52 0.52
365.00 369.00 4.00 3.2 0.58 0.58
389.00 391.00 2.00 1.6 0.37 0.37
436.15 567.00 130.85 108.1 0.95 0.95
including 451.25 493.00 41.75 34.3 1.37 1.37
and 518.00 547.00 29.00 24.1 1.40 1.40
and 565.00 567.00 2.00 1.7 2.12 2.12
608.00 610.00 2.00 1.7 0.59 0.59
630.00 641.00 11.00 9.3 0.33 0.33
MQD-22-072 228.05 231.70 3.65 2.6 0.36 0.36
317.00 323.00 6.00 4.4 0.54 0.54
394.70 407.00 12.30 9.1 0.51 0.51
including 394.70 397.00 2.30 1.7 1.45 1.45
432.50 445.95 13.45 10.0 0.30 0.30
464.00 616.00 152.00 116.6 1.03 1.03
including 466.70 476.95 10.25 7.7 1.03 1.03
and 478.95 487.50 8.55 6.5 1.27 1.27
and 496.20 500.00 3.80 2.9 1.05 1.05
and 514.00 575.00 61.00 46.8 1.76 1.76
MQD-22-092 31.00 53.00 22.00 14.5 0.33 0.33
155.80 170.00 14.20 9.9 0.50 0.50
including 166.85 169.00 2.15 1.5 1.79 1.79
240.00 244.00 4.00 2.9 0.99 0.99
including 242.00 244.00 2.00 1.4 1.62 1.62
391.00 393.00 2.00 1.5 0.34 0.34
455.00 457.00 2.00 1.5 0.43 0.43
479.45 487.20 7.75 5.9 0.63 0.63
501.00 638.00 137.00 107.6 0.61 0.61
including 511.30 514.95 3.65 2.8 2.67 2.67
and 540.10 546.00 5.90 4.6 1.03 1.03
and 568.00 574.00 6.00 4.7 1.76 1.76
and 587.00 589.90 2.90 2.3 1.41 1.41
and 596.00 598.00 2.00 1.6 1.65 1.65
and 610.00 614.00 4.00 3.2 1.01 1.01
and 625.00 633.70 8.70 6.9 1.22 1.22
677.00 706.00 29.00 23.5 0.31 0.31
710.60 726.00 15.40 12.5 0.39 0.39
MQD-22-094 1.70 13.00 11.30 7.4 1.94 1.94
137.20 141.00 3.80 2.6 0.45 0.45
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154.00 166.00 12.00 8.3 0.67 0.67
234.00 238.00 4.00 2.8 0.57 0.57
468.30 487.65 19.35 15.2 0.67 0.67
including 471.10 478.60 7.50 5.9 1.27 1.27
521.00 674.20 153.20 125.6 0.64 0.64
including 533.00 541.65 8.65 6.9 1.32 1.32
and 544.90 553.00 8.10 6.5 1.05 1.05
and 557.00 566.00 9.00 7.3 1.19 1.19
and 579.50 604.00 24.50 20.1 1.00 1.00
716.15 719.65 3.50 3.0 0.46 0.46
MQD-22-096 313.25 327.90 14.65 11.2 0.86 0.86
including 324.00 327.90 3.90 3.0 2.81 2.81
377.90 384.55 6.65 5.2 1.74 1.74
including 381.00 384.55 3.55 2.8 3.01 3.01
564.00 568.00 4.00 3.3 0.35 0.35
MQD-22-097 143.45 147.00 3.55 2.4 0.93 0.93
165.35 172.00 6.65 4.6 0.33 0.33
179.00 186.00 7.00 4.8 0.36 0.36
390.00 394.10 4.10 3.0 0.63 0.63
491.00 496.65 5.65 4.3 0.63 0.63
507.00 522.00 15.00 11.5 0.83 0.83
including 520.00 522.00 2.00 1.5 3.90 3.90
544.00 551.00 7.00 5.4 0.44 0.44
566.00 572.25 6.25 4.9 1.02 1.02
including 566.00 568.00 2.00 1.6 2.19 2.19
586.00 637.20 51.20 40.8 0.67 0.67
including 629.00 637.20 8.20 6.6 2.21 2.21
653.00 675.50 22.50 18.3 0.44 0.44
Intersections calculated above at 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste
interval of 10 metres. Shaded intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold
are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate
and assume a subvertical body.
Table 2: Location of drill holes in this press release
HOLE EAST NORTH RL AZIMUTH DIP EOH
MQD-22-062 669,803 5,378,938 429 335° -50° 651.1
MQD-22-070 670,122 5,379,148 433 333° -49° 651.1
MQD-22-072 670,206 5,379,205 441 336° -50° 651.1
MQD-22-092 670,059 5,379,068 439 337° -50° 734.9
MQD-22-094 669,984 5,379,010 441 337° -50° 750.0
MQD-22-096 669,733 5,379,076 433 336° -50° 651.0
MQD-22-097 669,894 5,378,952 446 335° -50° 750.0
Approximate collar coordinates in NAD 83, Zone 15N
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Analytical and QA/QC Procedures
All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was
performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of
Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN -P-4E
ISO/IEC 17025. Samples were analyzed for gold via fire assay with an AA finish (“Au-AA23”) and
48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61”). Samples that assayed
over 10 ppm Au were re-run via fire assay with a gravimetric finish (“Au-GRA21”).
In addition to ALS quality assurance / quality control (“QA/QC”) protocols , Goldshore has
implemented a quality control program for all samples collected through the drilling program. The
quality control program was designed by a qualified and independent third party, with a focus on
the quality of analytical results for gold. Analytical results are received, imported to our secure on-
line database and evaluated to meet our established guidelines to ensure that all sample batches
pass industry best practice for analytical quality control. Certified reference materials are
considered acceptable if values returned are within three standard deviations of the certified value
reported by the manufacture of the material. In addition to the certified reference material, certified
blank material is included in the sample stream to monitor contamination during sample
preparation. Blank material results are assessed based on the returned gold result being less
than ten times the quoted lower detection limit of the analytical method. The results of the on -
going analytical quality control program are evaluated and reported to Goldshore by Orix
Geoscience Inc.
About Goldshore
Goldshore is an emerging junior gold development company, and owns 100% of the Moss Lake
Gold Project located in Ontario. Wesdome is currently a large shareholder of Goldshore with an
approximate 23% 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.
Peter Flindell, P.Geo., 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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This news release contains statements that constitute “forward-looking statements.” Such forward
looking statements involve known and unk nown risks, uncertainties and other factors that may
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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, and other
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Such factors and risks include, among others: the Company may require additional financing from
time to time in order to cont inue its operations which may not be available when needed or on
acceptable terms and conditions acceptable; compliance with extensive government regulation;
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results of operations; the stock markets have experienced volatility that often has been unrelated
to the performance of companies and these fluctuations may adversely affect the price of the
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
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or other factors, should change.
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