Goldshore Discovers Shallow New Zone at Moss Gold with 17.6m of 3.03 g/t Au Including 6.8m of 7.06 g/t Au at 60m Depth Below Surface
Goldshore Discovers Shallow New Zone at
Moss Gold with 17.6m of 3.03 g/t Au Including
6.8m of 7.06 g/t Au at 60m Depth Below
Surface
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2025) - Goldshore Resources Inc.
(TSXV:
GSHR) (OTCQB: GSHRF) (FSE: 8X00)
("
Goldshore
" or the "
Company
"), is pleased to announce its
latest assay results from its ongoing 15,000-meter drill program and first results from the Superion
prospect on the north side of the Moss Gold Project in Northwest Ontario, Canada (the "
Moss Gold
Project
").
The encountered mineralization at the Superion target is situated at the margin of the
conceptual open pit at 60 meters depth; the Company believes this target has the potential to
significantly add to the current mineral resource estimate within the top 200 meters from surface with
continued drilling and to reduce the overall strip ratio of the deposit.
Michael Henrichsen, CEO of Goldshore commented, "We are very pleased with our first drill hole into
the Superion target.
The high grades encountered at shallow depths extending mineralization 335
meters vertically upward from a deep 2022 intercept clearly demonstrates the potential for resource
growth at Moss and has the potential to significantly impact the economic performance of the deposit
moving forward. The current 15,000-meter winter drill program is delivering outstanding results,
exceeding our expectations and highlighting the potential for a much larger mineralized system which
will be pursued in the near future through additional drilling."
Highlights
Superion Target
First results from the Superion prospect with MQD-25-148 have
discovered a new gold-
mineralized shear approximately 60m from surface and 225m north of the QES Zone
with
an intercept of:
17.6m of 3.03 g/t Au from 76.4m, including
6.8m of 7.06 g/t Au from 79.1m
Scout drilling continues at Superion exploring the 1,500m by 400m sparsely tested and muskeg-
covered area immediately north of the QES Zone where previously extended QES holes, from
Goldshore's drilling in 2021 and 2022, have intersected the Superion structure at depth with the
following intercepts:
16.0m of 2.69 g/t Au from 477m in MQD-22-014, including
5.25m of 7.87 g/t Au from 477.75m
40.0m of 0.71 g/t Au from 607m in MQD-21-009, including
7.85m of 1.18 g/t Au from 607m and
9.0m of 1.42 g/t Au from 638m
Southwest Zone
Two of three drill holes continued to
extend mineralized shears toward surface at the
Southwest Zone
with intercepts of:
10.0m of 0.79 g/t Au from 50.0m in MMD-25-144, and
12.0m of 0.98 g/t Au from 76.0m, including
3.6m of 2.77 g/t Au from 79.0m
27.0m of 0.44 g/t Au from 32.0m in MMD-25-145, and
6.0m of 1.34 g/t Au from 141.0m, including
3.8m of 1.89 g/t Au from 142.2m, and
35.35m of 0.41 g/t Au from 263.0m
Technical Overview
Figure 1 shows the location of the drill holes being reported with respect to the planned winter drill
program, while Figure 2 illustrates a cross section through drill hole MQD-25-148 that demonstrates
significant mineralization on the northern flank of the current mineral resource. Tables 1 & 2 summarize
significant intercepts and drill hole locations, respectively.
Figure 1:
Illustrates the 2025 ongoing winter drill program targeting resource expansion within the
conceptual open pit outlined in grey.
Drill holes being reported are highlighted in red.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/242996_64eac14474540b1a_002full.jpg
Figure 2:
Drill section through MQD-25-148 illustrating the discovery of a new high-grade gold-
mineralized shear that potentially connects with shears intercepted at 400-450 meters depth on the
northern side of the QES Zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/242996_64eac14474540b1a_003full.jpg
Drilling at the Superion target aims to quantify the near surface potential of previous deep intercepts and
untested soil anomalies north of the QES Zone across a 1,500m x 400m area of sparsely tested
muskeg. A significant portion of this area lies within the conceptual open pit and is currently flagged as
waste material. Any discoveries in this area will immediately reduce the potential strip ratios and
potentially support an overall expansion of the QES conceptual open pit.
Hole
MQD-25-148
was drilled to test the immediate up dip potential of shears intersected in hole MQD-
22-014, which was previously extended past the QES Zone, and intersected
16.0m of 2.69 g/t Au
from
477m in MQD-22-014, including
5.25m of 7.87 g/t Au
from 477.75m. Hole MQD-25-148 collared into a
wide zone of generally undeformed epidote-chlorite altered diorite containing 2-3% pyrite before
encountering a series of close spaced shear zones
containing strong sericite-silica alteration, numerous
highly deformed cm-scale quartz veins and 4-5% pyrite-chalcopyrite mineralization from 82.15-93.45m.
The hole returned to an epidote-chlorite diorite with 2-3% pyrite and 10cm scale patches of strong
silicification for the remainder of the hole.
The shear zone returned a significant high-grade interval of
17.6m of 3.03 g/t Au & 9.62 g/t Ag
from
76.4m including
6.80m of 7.06 g/t Au & 23.9 g/t Ag
from 79.1m (Figure 3). The 1:3 Au-Ag ratio in these
results is notably higher than the typical 1:1.5 Au-Ag ratio encountered at the Moss Deposit, highlighting
the need to resample historical drill core to build the silver database as it has the potential to add value
to the Moss Gold Project.
Figure 3: Hole MQD-25-148: Wide high-grade strongly sheared sericite-silica altered diorite
within a broad epidote-chlorite altered diorite intrusion returning 17.6m of 3.03 g/t Au & 9.62 g/t
Ag from 76.4m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/242996_64eac14474540b1a_004full.jpg
Drilling at the Southwest Zone continues its focus on adding to the mineral resource by infilling gaps
within the current model created by sparse drilling. Drilling at shallow depths of 100-200 meters will allow
for mineralized shear zones to be extended to the surface. Drilling at depths of 200 to 400 meters will
allow the expansion of the open pit resource to a similar depth as the Main-QES pit (~500 meters).
Hole
MMD-25-143
was drilled beneath shallowly defined mineralization from the eastern side of the
Southwest Zone collaring into a sequence of brecciated dacitic volcanic rocks with a swarm of narrow
chlorite altered diorite dykes. At 140m depth, the hole entered the typical altered and locally sheared
diorite package for the remainder of the hole yielding intercepts such as 10.8m of 0.43 g/t Au from
155.2m and 18.6m of 0.56 g/t Au from 256.5m, including 2.0m of 1.40 g/t Au from 266.0m.
Holes
MMD-25-144
and
MMD-25-145
collared in the centre of the Southwest Zone and drilled towards
the southeast to extend the previously defined shear zones toward surface. Both holes collared into the
wide multi-stage silica-sericite and epidote-chlorite altered diorite intrusion package, as is typical of the
peripheral areas of the Southwest Zone, yielding broad lower grade intercepts such as 12.0m of 0.98 g/t
Au from 76.0m, including 3.6m of 2.77 g/t Au from 79.0m in MMD-25-144, and 35.35m of 0.14 g/t Au
from 263m, before ending in the dacitic volcanic rocks depicting the end of the zone.
Table 1: Significant intercepts
HOLE ID
FROM
TO
LENGTH
(m)
TRUE WIDTH
(m)
CUT GRADE
(g/t Au)
UNCUT GRADE
(g/t Au)
MMD-25-143
16.00
18.00
2.00
1.2
0.40
0.40
42.00
44.00
2.00
1.2
0.60
0.60
155.20
166.00
10.80
6.8
0.43
0.43
179.15
182.00
2.85
1.8
0.41
0.41
204.55
208.00
3.45
2.2
0.32
0.32
213.00
215.00
2.00
1.3
0.50
0.50
231.00
234.00
3.00
1.9
0.54
0.54
253.50
282.00
28.50
18.6
0.56
0.56
incl
266.00
269.00
3.00
2.0
1.40
1.40
289.00
292.95
3.95
2.6
0.59
0.59
339.35
342.10
2.75
1.8
0.31
0.31
351.85
364.80
12.95
8.6
0.42
0.42
387.00
390.00
3.00
2.0
0.39
0.39
421.35
423.90
2.55
1.7
0.42
0.42
446.00
449.00
3.00
2.1
0.47
0.47
519.00
522.00
3.00
2.1
0.75
0.75
528.00
541.00
13.00
9.1
0.35
0.35
547.30
550.50
3.20
2.2
0.80
0.80
MMD-25-144
33.00
45.00
12.00
8.6
0.34
0.34
50.00
60.00
10.00
7.2
0.79
0.79
69.00
72.00
3.00
2.2
0.34
0.34
76.00
88.00
12.00
8.7
0.98
0.98
incl
79.00
82.60
3.60
2.6
2.77
2.77
208.75
211.00
2.25
1.7
0.44
0.44
231.35
242.00
10.65
8.0
0.34
0.34
257.30
262.00
4.70
3.5
0.34
0.34
MMD-25-145
32.00
59.00
27.00
19.6
0.44
0.44
77.00
83.40
6.40
4.7
0.40
0.40
141.00
147.00
6.00
4.6
1.34
1.34
incl
142.20
146.00
3.80
2.9
1.89
1.89
156.25
167.10
10.85
8.5
0.49
0.49
178.20
182.00
3.80
3.0
0.70
0.70
263.00
298.35
35.35
29.6
0.41
0.41
MQD-25-148
76.40
94.00
17.60
12.7
3.03
3.03
incl
79.10
85.90
6.80
4.9
7.06
7.06
incl
82.15
85.90
3.75
2.7
12.4
12.4
and
93.15
93.45
0.30
0.2
12.1
12.1
Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 5 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: Drill Collars
HOLE
EAST
NORTH
RL
AZIMUTH
DIP
EOH
MMD-25-143
668,306
5,378,340
451
140
-54
551
MMD-25-144
668,350
5,378,084
428
135
-45
276
MMD-25-145
668,420
5,378,214
438
135
-45
300
MQD-25-148
669,904
5,379,917
428
155
-45
252
MQD-21-009
670,216
5,379,509
429
335
-48
686
MQD-22-014
670,104
5,379,469
427
335
-47
1008
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 analysed 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.
Qualified Person
Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified
person under National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
, has approved
the scientific and technical information contained in this news release.
Mr. Flindell has verified the data disclosed.
To verify the information related to the winter drill program at
the Moss Gold Project, Mr. Flindell has visited the property several times; discussed and reviewed
logging, sampling, bulk density, core cutting and sample shipping processes with responsible site staff;
discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting
documentation, including drill hole location and orientation and significant assay interval calculations. He
has also overseen the Company's health and safety policies in the field to ensure full compliance, and
consulted with the Project's host indigenous communities on the planning and implementation of the drill
program, particularly with respect to its impact on the environment and the Company's remediation
protocols.
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 over $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 development in this cycle. Please see NI 43-101 technical report
titled: "Technical Report and Updated Mineral Resource Estimate for the Moss Gold Project, Ontario,
Canada," dated March 20, 2024 with an effective date of January 31, 2024 available under the
Company's SEDAR+ profile at www.sedarplus.ca.
For more information, please visit SEDAR+
(
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.
E:
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. Forward-looking statements in this news release include, among
others, statements relating to expectations regarding the exploration and development of the Moss Gold
Project; the potential mineralization at the Moss Gold Project based on the winter drill program, including
the potential for additional mineral resources; the enhancement of the Moss Gold Project; statements
regarding the Company's future drill plans, including the expected benefits and results thereof; that the
Superion target has the potential to significantly add to the current mineral resource estimate within the
top 200 meters from surface with continued drilling and to reduce the overall strip ratio of the deposit; the
potential for resource growth at Moss and the fact that the results have the potential to significantly
impact the economic performance of the deposit moving forward; the potential for a much larger
mineralized system and that it will be pursued in the near future through additional drilling; 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: uncertainty and variation in
the estimation of mineral resources; risks related to exploration, development, and operation activities;
exploration and development of the Moss Gold Project will not be undertaken as anticipated; the
Company 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; the economic
performance of the deposit may not be consistent with management's expectations; the Company's
exploration work may not deliver the results expected; the fluctuating price of gold; unknown liabilities in
connection with acquisitions; compliance with extensive government regulation; delays in obtaining or
failure to obtain governmental permits, or non-compliance with permits; environmental and other
regulatory requirements; domestic and foreign laws and regulations could adversely affect the
Company's business and results of operations; risks related to natural disasters, terrorist acts, health
crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate
change risks; competition from other companies and individuals; conflicts of interest; risks related to
compliance with anti-corruption laws; the Company's limited operating history; intervention by non-
governmental organizations; outside contractor risks; 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 Superion target may
not add to the current mineral resource; and other risks associated with executing the Company's
objectives and strategies as well as those risk factors discussed in the Company's continuous
disclosure documents filed under the Company's SEDAR+ profile at
www.sedarplus.ca
.
The forward-looking information in this news release is based on management's reasonable
expectations and assumptions as of the date of this news release.
Certain material assumptions
regarding such forward-looking statements were made, including without limitation, assumptions
regarding: the future price of gold; anticipated costs and the Company's ability to fund its programs; the
Company's ability to carry on exploration, development and mining activities; prices for energy inputs,
labour, materials, supplies and services; the timing and results of drilling programs; mineral resource
estimates and the assumptions on which they are based; the discovery of mineral resources and mineral
reserves on the Company's mineral properties; the timely receipt of required approvals and permits; the
costs of operating and exploration expenditures; the Company's ability to operate in a safe, efficient, and
effective manner; the Company's ability to obtain financing as and when required and on reasonable
terms; that the Company's activities will be in accordance with the Company's public statements and
stated goals; that the Superion target will add to the current mineral resource; that the Company's
exploration work will deliver the results expected; and that there will be no material adverse change or
disruptions affecting the Company or its properties.
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.
There can be no assurances that such statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such statements.
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.
To view the source version of this press release, please visit
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