Goldshore Intersects Multiple New Parallel Shears Increasing Width of QES Zone by Over 100 meters - Including 1.33 g/t Au over 54.45m
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Goldshore Intersects Multiple New Parallel Shears Increasing Width of QES Zone by Over
100 meters - Including 1.33 g/t Au over 54.45m
VANCOUVER, B.C., March 14, 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 Gold Project”).
Highlights:
• Results from seven holes in -filling the QES Zone have confirmed wide zones of gold
mineralization containing multiple, closely spaced high grade shears in previously
poorly drilled volumes with best intercepts of:
o 0.86 g/t Au over 120.65m from 593.0m depth in MQD-22-104, including
1.33 g/t Au over 54.45m from 657.0m
o 1.06 g/t Au over 44.3m from 591.15m depth in MQD-22-099, including
1.55 g/t Au over 27.1m from 594.0m
o 0.48 g/t Au over 185.55m from 208.4m depth in MQD-22-0100, including
1.67 g/t Au over 12.75m from 346.25m
o 0.81 g/t Au over 61.35m from 614.65m depth in MQD-22-101, including
1.18 g/t Au over 14.65m from 623.35m
o 0.74 g/t Au over 80.95m from 193.05m depth in MQD-22-102, including
1.43 g/t Au over 20.0m from 246.1m
o 0.71 g/t Au over 77m from 190.0m depth in MQD-22-103, including
1.43 g/t Au over 16.0m from 203.0m
• Additionally, these holes intersected parallel mineralized shears at shallow depths south
of the main QES zone which are open along strike and expand the cumulative width
of the QES Zone by over 100m to 620m. Best intercepts include:
o 2.23 g/t Au over 11.2m from 119.05m depth in MQD-22-100
o 5.90 g/t Au over 2.6m from 91.0m depth in MQD-22-101
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o 2.41 g/t Au over 8.5m from 112.7m depth in MQD-22-104
President and CEO Brett Richards stated: “As previously illustrated throughout the last 12 months
of publishing drill results, t hese results continue to support our thesis that the size and scale of
the Moss Gold Project will be large enough to support a material and meaningful update to the
mineral resource estimate, which is expected in April 2023, followed by a preliminary economic
assessment on the updated resource. We continue to find additions to the resource on step out
holes laterally and along strike from the historic resource profile, and QES continues to widen with
continued mineralization to be tested to make it even wider. We look forward to seeing the impact
of these additions to the resource model.”
Technical Overview
Figure 1 shows the better intercepts in plan view and Figure 2 is a typical section through hole
MQD-22-100 and -104. 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 the current Mineral Resource and
highlighting the additional shears
3
Figure 2: Drill section through MQD-22-100 and -104 relative to the current Mineral Resource and highlighting
the additional shears and potential to significantly deepen the open pit shell
These most recent results continue to build on the successful winter infill and expansion program
at the QES Zone. The robust widths and consistent gold grades in all seven holes provide strong
confirmation of the geological interpretation, and significantly increase the resolution of data in
hitherto poorly defined volumes.
Holes MQD-22-098, -100, -102 and -103 were focused on closing gaps in the existing drill pattern
at shallower elevations. All four holes intercepted a tightly spaced set of narrow, high grade shear
zones within a broad envelope of strongly altered granodiorite.
Holes MQD-22-099, -101 and -104 were stepped back to the southeast to test the deeper portion
of the eastern end of the QES Z one. These holes have defined the true width of the high- and
low-grade mineralized domains in an area of widely spaced and partially sampled historical
drilling. In addit ion to these deeper intercepts on the main QES shear zone, all three holes
generated significant high -grade intercepts at shallow depths which define a series of parallel
mineralized shears in sericite-hematite altered volcanics and narrow diorite intrusive bodies 200m
to the south of the main QES Zone.
4
Figure 3: Drill core from 112 -123m (1m @ 22.1 g/t Au) in M QD-22-100 highlighting a m ineralized quartz -
rhodochrosite vein within the sheared, altered intrusion . Note that th is photo is not intended to be
representative of broader mineralization on the Moss Lake Gold Project.
Pete Flindell, VP Exploration for Goldshore, said “These results confirm our belief that the Moss
Gold deposit is wider and deeper than previously thought – now filling a 600- 700-meter-wide
corridor – and that there are many more shears hosting high-grade gold mineralization. This will
assist our goal of expanding the mineral resource and improving its quality in April 2023.”
Table 1: Significant downhole gold intercepts
HOLEID FROM TO LENGTH
(m)
TRUE
WIDTH (m)
CUT
GRADE
(g/tAu)
UNCUT
GRADE
(g/tAu)
MQD-22-098 122.00 124.00 2.00 1.4 0.32 0.32
245.00 279.80 34.80 26.3 0.65 0.65
including 254.90 258.95 4.05 3.0 2.68 2.68
and 269.00 273.00 4.00 3.0 1.68 1.68
298.00 364.00 66.00 50.9 0.59 0.59
including 307.00 315.00 8.00 6.1 1.03 1.03
397.00 407.00 10.00 7.9 0.38 0.38
529.00 533.00 4.00 3.3 0.37 0.37
MQD-22-099 18.00 20.00 2.00 1.3 0.45 0.45
183.35 205.55 22.20 15.5 0.51 0.51
256.00 258.00 2.00 1.4 0.51 0.51
5
280.00 285.00 5.00 3.6 0.32 0.32
294.30 309.00 14.70 10.8 0.51 0.51
379.00 394.00 15.00 11.3 0.45 0.45
including 382.00 385.00 3.00 2.3 1.23 1.23
410.00 412.00 2.00 1.5 0.32 0.32
425.00 435.50 10.50 8.0 0.33 0.33
461.65 469.60 7.95 6.2 0.39 0.39
540.90 548.10 7.20 5.7 0.51 0.51
555.90 557.95 2.05 1.6 0.38 0.38
576.00 579.30 3.30 2.6 0.35 0.35
591.15 635.45 44.30 35.8 1.06 1.06
including 594.00 621.10 27.10 21.9 1.55 1.55
MQD-22-100 99.40 104.00 4.60 2.8 0.31 0.31
119.05 130.25 11.20 7.0 2.23 2.23
168.05 189.85 21.80 14.1 0.54 0.54
including 187.60 189.85 2.25 1.5 2.30 2.30
208.40 393.95 185.55 128.7 0.48 0.48
including 287.80 290.00 2.20 1.5 1.02 1.02
and 310.05 314.00 3.95 2.8 1.07 1.07
and 335.00 339.90 4.90 3.5 1.13 1.13
and 346.25 359.00 12.75 9.1 1.67 1.67
409.00 418.00 9.00 6.7 0.36 0.36
436.00 456.25 20.25 15.2 0.74 0.74
including 439.00 449.00 10.00 7.5 1.09 1.09
496.00 500.00 4.00 3.0 0.32 0.32
MQD-22-101 91.00 93.60 2.60 1.7 5.90 5.90
179.80 196.60 16.80 11.6 0.57 0.57
including 192.55 194.80 2.25 1.6 2.61 2.61
215.05 272.00 56.95 40.3 0.39 0.39
including 231.90 234.55 2.65 1.9 1.29 1.29
325.00 357.00 32.00 23.4 0.41 0.41
including 345.10 347.60 2.50 1.8 1.76 1.76
375.00 379.15 4.15 3.1 0.42 0.42
425.85 447.00 21.15 15.9 0.31 0.31
464.40 467.00 2.60 2.0 0.33 0.33
502.00 517.50 15.50 12.0 0.37 0.37
528.00 562.20 34.20 26.7 0.48 0.48
including 533.10 539.30 6.20 4.8 1.04 1.04
614.65 676.00 61.35 49.5 0.81 0.81
including 623.35 638.00 14.65 11.8 1.18 1.18
and 643.00 657.75 14.75 11.9 1.00 1.00
and 661.80 668.00 6.20 5.0 1.50 1.50
710.90 714.95 4.05 3.3 0.34 0.34
728.05 737.15 9.10 7.5 0.30 0.30
6
745.80 750.00 4.20 3.5 0.48 0.48
MQD-22-102 23.80 29.50 5.70 4.1 0.34 0.34
166.50 170.80 4.30 3.2 0.35 0.35
193.05 274.00 80.95 63.7 0.74 0.74
including 205.00 209.00 4.00 3.1 1.73 1.73
and 246.10 266.10 20.00 16.0 1.43 1.43
291.00 298.60 7.60 6.2 0.34 0.34
324.00 352.00 28.00 23.0 0.69 0.69
including 329.00 334.60 5.60 4.6 2.22 2.22
369.00 372.00 3.00 2.5 0.46 0.46
MQD-22-103 114.45 134.00 19.55 13.5 0.31 0.31
140.05 158.00 17.95 12.6 0.41 0.41
168.40 178.95 10.55 7.5 0.75 0.75
190.00 267.00 77.00 56.8 0.71 0.71
including 203.00 219.00 16.00 11.6 1.43 1.43
and 262.10 264.65 2.55 1.9 5.10 5.10
279.00 284.65 5.65 4.3 1.71 1.71
including 280.35 282.95 2.60 2.0 3.21 3.21
435.90 449.00 13.10 10.4 0.63 0.63
MQD-22-104 112.70 121.20 8.50 5.8 2.41 2.41
220.80 236.85 16.05 11.6 0.70 0.70
249.00 252.20 3.20 2.3 0.47 0.47
290.90 296.65 5.75 4.3 0.64 0.64
473.05 483.00 9.95 7.9 0.46 0.46
495.80 521.00 25.20 20.1 0.31 0.31
533.80 557.00 23.20 18.7 0.59 0.59
including 544.00 547.00 3.00 2.4 1.52 1.52
568.00 575.50 7.50 6.1 0.94 0.94
593.00 713.65 120.65 101.2 0.86 0.86
including 614.00 628.20 14.20 11.8 1.06 1.06
and 657.00 711.45 54.45 46.1 1.33 1.33
726.00 731.10 5.10 4.4 0.52 0.52
755.70 760.45 4.75 4.1 0.56 0.56
771.05 778.85 7.80 6.7 0.31 0.31
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 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-22-098 669,829 5,379,161 431 337° -49° 651
7
MQD-22-099 670,664 5,379,431 433 336° -50° 750
MQD-22-100 670,477 5,379,624 428 335° -55° 525
MQD-22-101 670,606 5,379,384 441 337° -51° 750
MQD-22-102 670,398 5,379,573 428 336° -45° 402
MQD-22-103 670,162 5,379,469 428 336° -50° 552
MQD-22-104 670,528 5,379,315 441 339° -50° 801
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 Gold
Project located in Ontario. Wesdome is currently a large shareholder of Goldshore with an
approximate 22% 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 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.
8
P. +1 604 288 4416 M. +1 905 449 1500
W. www.goldshoreresources.com
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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 Lake Gold Project, the
release of an updated mineral resource estimate and 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 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; compliance with extensive government regulation;
domestic and foreign laws and regulations could adversely affect the Company’s business and
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
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.