Goldshore Intersects 20.55m of 2.58 g/t Au Down Dip on the Southwest Zone: Extends Mineralization 150 Meters Below the Conceptual Open Pit Resource
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Goldshore Intersects 20.55m of 2.58 g/t Au Down Dip on the Southwest Zone:
Extends Mineralization 150 Meters Below the Conceptual Open Pit Resource
VANCOUVER, B.C., February 20, 2025: Goldshore Resources Inc. (TSXV: GSHR / OTCQB:
GSHRF / FWB: 8X00) (“Goldshore” or the “Company”), is pleased to announce its latest assay
results from its ongoing 15,000 meter drill program at the Moss Gold Project in Northwest Ontario,
Canada (the “Moss Gold Project”). The primary goals of the winter drill program are to add to
the current resource model by extending mineralization from depth into the top 100-200 meters
from surface within the conceptual open pit and to demonstrate the potential for resource growth
outside of the current mineral resource estimate.
Michael Henrichsen, CEO of Goldshore commented, "We are pleased with the latest batch of drill
results which clearly demonstrate the potential for resource expansion at higher grades in the
southwest area of the Moss deposit. These results are exactly what we were anticipating to drive
growth and demonstrate the true potential of the deposit moving forward. We look forward to
sharing additional results from the winter drill program and regional exploration program in the
coming weeks and months.”
Highlights
• Results from hole MMD-24-139 extended gold mineralization with increased grades
150 meters below the conceptual open pit resource at the southwest end of the
Moss deposit with intercepts of:
o 20.55m of 2.58 g/t Au from 458.15m, including
14.7m of 3.52 g/t Au from 464.0m
• Hole MMD-24-139 also confirmed mineralized shears on the southeast flank of the
Southwest Zone extending known mineralization toward surface and encountering new
mineralized shear zones with intercepts of:
o 7.8m of 1.03 g/t Au from 221.1m,
o 2.4m of 1.44 g/t Au from 251.6m,
o 5.5m of 1.89 g/t Au from 302.5m, including
0.6m of 15.8 g/t Au from 307.4m
o 7.65m of 1.41 g/t Au from 318.35m, and
o 3.0m of 1.47 g/t Au from 338.0m
• Holes MMD-24-135, MMD -24-138, and MMD -24-139 also extended numerous
mineralized shears toward surface in the Southwest Zone with intercepts of:
o 20.0m of 0.89 g/t Au from 81.0m in MMD-24-135, including
3.85m of 2.86 g/t Au from 87.0m, and
o 26.0m of 0.61 g/t Au from 107.0m, including
5.7m of 1.17 g/t Au from 107.0m
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o 20.8m of 0.76 g/t Au from 108.8m in MMD-24-138, including
2.05m of 3.33 g/t Au from 123.3m
o 11.1m of 0.58 g/t Au from 108.5m in MMD-24-139
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 M MD-24-139 that
demonstrates significant mineralization above and below 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.
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Figure 2: Drill section through M MD-24-139 illustrating a wider series of shears near surface that will allow the
Company to model grade to surface. The section also highlights the growth potential beneath the open pit that may
enable the open-pit resource to be as deep as the Main-QES pit
Drilling at the Southwest Zone aims to add 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-24-135 and MMD-24-138 were drilled along the western and eastern edges
respectively of Snodgrass Lake to test the up -dip potential of lower grade shear zones
concentrated close to the contact between the diorite intrusion complex and intermediate volcanic
rocks that do not currently reach the surface in the current mineral resource estimate. Hole MMD-
24-139 was drilled from south of Snodgrass Lake to target the up-dip potential of marginal shears
and the deeper extension of core shears below the conceptual open pit.
Hole MMD-24-135 collared into the edge of the high- grade mineralization and sheared altered
granodiorite intrusion yielding grade intercepts such as 5.95 m of 1.12 g/t Au from 6.5m depth.
The hole quickly transitions 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 20.0m of 0.89 g/t Au from 81.0m, including 3.85m of 2.86
g/t Au from 87.0m , and 26.0m of 0. 61 g/t Au from 1 07.0m, including 5.7m of 1.17 g/t Au from
107.0m.
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Hole MMD-24-138 encountered a varying sequence of andesitic and dacitic volcanic rocks with a
swarm of narrow sericite-silica-hematite to epidote-chlorite altered diorite dykes. Local shearing
of the volcanics and diorites concentrates mineralization yielding intercepts such as 20.8m of 0.76
g/t Au from 108.8m, including 2.05m of 3.33 g/t Au from 123.3m. The hole was terminated, as the
remaining volume had been previously drilled from the southwestern side of the lake.
Drill hole MMD-24-139 intersected 10 to 20 meter -spaced mineralized sericite-silica-hematite
altered sheared granodiorite dykes close to surface before entering the main diorite intrusion
complex at 245.2m, which was drilled for the remainder of the hole. The diorite complex consisted
of interchanging epidote-chlorite and sericite-silica-hematite alteration with varying shear intensity
including a mylonitized zone along the contact of a chloritized gabbro and a sericite- silica-
hematite altered granodiorite with 2-3% pyrite ±chalcopyrite±molybdenite (Figure 3) . Results
highlight the potential of expanding the high-grade mineralization beyond that defined within the
conceptual open pit with the 20.55m of 2.58 g/t Au from 458.15m, including 14.7m of 3.52 g/t
Au. These intercepts occur 150 meters beneath the open pit constrained mineral resource. These
results are top cut at 30 g/t Au, which only impacted a 1.0m veined shear assaying 36.1 g/t Au.
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Figure 3: Hole MMD-24-139: Wide high-grade mylonitized sericite-chlorite-hematite altered diorite along the margin
of a gabbroic intrusion returning 20.55m of 2.58g/t from 458.15-478.75m.
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Table 1: Significant intercepts
HOLE ID FROM TO LENGTH
(m)
TRUE
WIDTH
(m)
CUT
GRADE
(g/t Au)
UNCUT
GRADE
(g/t Au)
MMD-24-135 6.50 12.45 5.95 4.2 1.12 1.12
29.00 72.10 43.10 31.3 0.45 0.45
incl 37.50 41.00 3.50 2.5 1.14 1.14
81.00 101.00 20.00 15.0 0.89 0.89
incl 87.00 90.85 3.85 2.9 2.86 2.86
107.00 133.00 26.00 19.8 0.61 0.61
incl 107.00 112.70 5.70 4.3 1.17 1.17
143.00 153.05 10.05 7.8 0.42 0.42
175.00 182.50 7.50 5.9 0.34 0.34
MMD-24-138 108.80 129.60 20.80 15.5 0.76 0.76
incl 123.30 125.35 2.05 1.5 3.33 3.33
168.00 174.00 6.00 4.5 0.36 0.36
MMD-24-139 108.50 119.60 11.10 7.3 0.58 0.58
193.85 201.00 7.15 4.8 0.42 0.42
208.00 213.00 5.00 3.4 0.72 0.72
222.10 229.90 7.80 5.3 1.03 1.03
251.60 256.65 5.05 3.5 0.84 0.84
incl 251.60 254.00 2.40 1.7 1.44 1.44
273.00 286.00 13.00 9.0 0.36 0.36
302.50 308.00 5.50 3.8 1.89 1.89
incl 307.40 308.00 0.60 0.6 15.8 15.8
318.35 326.00 7.65 5.4 1.41 1.41
338.00 347.40 9.40 6.7 0.80 0.80
incl 338.00 341.00 3.00 2.1 1.47 1.47
409.00 413.00 4.00 2.9 0.30 0.30
438.40 450.00 11.60 8.5 0.61 0.61
458.15 478.70 20.55 15.1 2.58 2.88
incl 464.00 478.70 14.70 10.8 3.52 3.93
incl 471.00 472.00 1.00 0.7 30.0 36.1
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.
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Table 2: Drill Collars
HOLE EAST NORTH RL AZIMUTH DIP EOH
MMD-24-135 668,530 5,378,288 428 130 -45 228
MMD-24-138 668,606 5,377,956 428 315 -45 219
MMD-24-139 668,565 5,377,923 430 315 -50 537
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
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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.
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 and potential mining methods; the
timing of technical reports and economic studies; statements regarding the Company’s future drill
programs, including the expected benefits and results thereof; 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