Goldshore Delineates Moss Deposit Resource Expansion Targets Resource expansion targets identified at the Moss Deposit offer potential to increase the ounce profile above the current resource (1.54 million ounces of Indicated gold resources at 1.23 g/t Au
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Goldshore Delineates Moss Deposit Resource Expansion Targets
Resource expansion targets identified at the Moss Deposit offer potential to increase the ounce
profile above the current resource (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 ), and reduce the overall strip
ratio, potentially enhancing project economics.
VANCOUVER, B.C., September 17, 2024: Goldshore Resources Inc. (TSXV: GSHR / OTC
Markets: GSHRF / FSE: 8X00) (“Goldshore” or the “Company”) is pleased to provide an update
on resource expansion targets at the Moss Deposit. The identified targets are located within the
top 200m from surface and are within, or directly adjacent to, the conceptual open pit shell defined
in the Company’s current mineral resource estimate ( “MRE”) (Figure 1). Collectively, there are
five targets that have been defined that represent three avenues for potential mineral resource
expansion (collectively, the “Expansion Targets”):
• Strategic infill to increase drill density in locations where mineralized drill intercepts are
currently too widely spaced to be included in the inferred mineral resource category;
• Extending known mineralized shear zones laterally along strike; and
• Extending mineralized shear zones intersected at depth at the Moss Deposit towards
surface where no shallow drilling has occurred (Figure 2).
Michael Henrichsen, CEO of Goldshore commented, “We are very pleased with t he mineral
resource Expansion Targets that have been delineated which represent an opportunity to not only
increase the ounce profile of the Moss Deposit, but to also reduce the overall strip ratio in a
potential mining scenario. We view the drilling of these targets as a critical step to potentially
improving the economic performance of the deposit on the back of the PEA, currently in progress
with G Mining Services, being released as we continue to look to add ounces in the top 200m
from surface.”
The Company is finalizing a conceptual program of approximately 15,000 meters that would test
the Expansion Targets outlined with the combined goal s of expanding the MRE within the top
200m through increasing drill density, extending known mineralization, and reducing the strip ratio
within the conceptual open pit. A summary of the targets is presented below:
• The Superion and QES Up targets represent an opportunity to add ounces by
extending mineralization toward surface in the top 200 m over a roughly 1.5 km and 1
km strike length respectively within and immediately adjacent to the conceptual open
pit.
• The Southern Main target is similar to the QES Up target where drilling in the top 50 –
200 m from surface will aim to extend mineralization over an area of 400 m by 100 m
• The Southwest Infill and QES extension targets focus on areas spanning 800 meters
and 400 meters, respectively, where drill density was insufficient for inclusion in the
current mineral resource estimate.
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Figure 1. Proposed winter drill holes within Moss pit.
Figure 2. Section through Superion target and QES Up target highlighting waste in pit that may convert to mineralized
shears
Mineral resources that are not mineral reserves have no demonstrated economic viability. There
is no guarantee that any part of the mineral resources discussed herein will be converted to a
mineral reserve in the future. The estimate of mineral resources may also be materially affected
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by geology, environment, permitting, legal, title, taxation, soci -political, marketing, or other
relevant issues.
Qualified Person
Peter Flindell, PGeo, MAusIMM, MAIG, Vice- President, Exploration, of the Company, and a
qualified person under National Instrument 43- 101, has approved the scientific and technical
information contained in this news release.
About Goldshore
Goldshore is a growth -oriented gold company focused on delivering long- term shareholder and
stakeholder value through the acquisition and advancement of primary gold assets in tier -one
jurisdictions. It is led by the ex -global head of structural geology for the world’s largest gold
company and backed by one of Canada’s pre-eminent private equity firms. 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 ov er $60
million of new capital and completed approximately 80,000 meters 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 kilometers of the 35+ kilometer mineralized trend, remains open at
depth and along strike and is one of the few remaining major Canadian gold deposits positioned
for fast track through this development cycle.
For more information, please visit the Company’s SEDAR+ profile at (www.sedarplus.ca) and the
Company’s website (www.goldshoreresources.com).
For More Information – Please Contact:
Michael Henrichsen
President, Chief Executive Officer and Director
Goldshore Resources Inc.
W: www.goldshoreresources.com
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.
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
historical facts and are generally, but not always, identified by the words “expects,” “plans,”
“anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or
that events or conditions “will,” “would,” “may,” “could” or “should” occur.
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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 Gold Project, potential
mineral resource expansion drill targets, timing and completion of a mineral resource expansion
drill program, the impact of an expansion drill program on reducing the strip ratio, the targeted
expansion of the deposit along the Superion target, the targeted increase in the ounce profile of
the Moss Deposit, and the release of an updated preliminary economic assessment 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, performance or achievements expressed or implied by such forward-looking statements.
Such factors and risks include, among others: the foregoing exploration and development goals
of the Company may not occur on the timetable anticipated or at all; the preliminary economic
assessment may not be completed on the timetable expected or at all; the C ompany may require
additional financing from time to time in order to continue its operations which may not be available
when needed or on acceptable terms and conditions acceptable; risks related to compliance with
extensive government regulation; domestic and foreign laws and regulations could adversely
affect the Company’s business and results of operations; and 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. The forward-l ooking information in this news release is based on management’s
reasonable expectations and assumptions, including that the Company’s business and financial
position and general economic conditions will not be adversely affected; that the expansion drill
program will be completed and on the timetable expected; and that the preliminary economic
assessment will be completed on the timetable anticipated.
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.