Goldshore Reports Additional Step-Out Intercepts on the Margin of the Main Zone at Moss Lake, Ontario Visible Gold Discovered in Unsampled Historic Drill Core
Goldshore Reports Additional Step-Out Intercepts on the
Margin of the Main Zone at Moss Lake, Ontario
Visible Gold Discovered in Unsampled Historic Drill Core
VANCOUVER, B.C., April 19, 2022: 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.
Drilling is aiming to better define and expand high -grade structural zones within the Moss Lake
deposit in an attempt to improve the overall grade and volume beyond that of the historic Mineral
Resource.
Key Highlights
• Drilling of the Main Zone has expanded the zone and provided better definition
for high grade corridors: Drilling within the Main Zone has continuity to improve the
continuity and volume of high grade zones within the Main Zone. Highlight intercepts
include:
o 13.0m @ 1.25 g/t Au from 192.0m in MMD-22-011
o 29.75m @ 1.03 g/t Au from 33.0m in MMD-22-012A
o 13.0m @ 1.02 g/t Au from 238.0m in MMD-22-013
• Parallel structures intersected on every section: Drilling continues to intersect new
mineralized structures parallel to the main body of mineralization, within a 100 metre
corridor along the northern hanging wall side of the Main Zone (see Plan View Figure
4).
• Visible gold found in unsampled section of historic drillholes: Sampling of
previously unsampled drill core has found visible gold confirming the Company’s belief
that historic exploration missed parallel zones of mineralization . All a ssays from
historic core remain pending.
• West edge of the Main Zone defined : Drill holes MMD-21-010, MMD-22-011 and
MMD-22-012A intersected a major post-mineralization structure that cuts the western
edge of the Main Zone and most likely offsets mineralization to the south where it is
reflected by the previously drilled Southwest Zone (See Figure 4).
Brett Richards, President and Chief Executive Officer of Goldshore commented : “Once
again, we are pleased to illustrate recent drill results from the Moss Lake Gold Project Inc.,
highlighting continued mineralization on the periphery of the historic resource in the main zone.
Referring back to the high grade feeder system identified from the March 2, 2022 press release
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News: Goldshore Drills 6.3 g/t Au over 58.85m at Moss Lake (goldshoreresources.com) as well
as the release on the VTEM geophysical survey indicating 29 new targets Technical Analysis:
Goldshore’s VTEM Results Greatly Expand the Prospectivity (goldshoreresources.com) , the
consistency of the mineralization continues to illustrate the size and scale of the Moss Lake
Project. The ongoing drilling is increasing our confidence in the extent and size of the high grade
corridors within the main zone deposit to be incorporated into future resource updates and
possible benefits to future mining. Additionally, the limited outside of the main zone has identified
several potential parallel zones that remain open along strike and down dip and remain one of
the focuses for this campaign. Also, the visible gold we are seeing in the historic core is a great
indication of higher grade areas that will guide us towards a greater understanding of the
geological controls in this system”.
Results have been received for drill holes MMD-21-010, MMD-22-011 and -012A evaluating the
western margin to the Main Zone and holes MMD -22-013 and -015 testing the southern margin
of the Main Zone. Significant drill intercepts are summarized in Tables 1 and 2, respectively,
shown in Figures 1-3 as drill sections. Table 3 and Figure 4 show the location of the drill holes.
Figure 1: Drill section through MMD-22-011 showing mineralized intercepts relative to the 2013 grade model
3
Figure 2: Drill section through MMD-22-013 showing mineralized intercepts relative to the 2013 grade model
Figure 3: Drill section through MMD-22-015 showing mineralized intercepts relative to the 2013 grade model
4
Figure 4: Drill plan showing the drill holes relative to the 2013 resource model and historic drill hole location
Table 1: Significant downhole gold intercepts along western margin of Main Zone
HOLE ID FROM TO
HOLE
LENGTH
(m)
TRUE
WIDTH
(m)
CUT
GRADE
(g/t Au)
UNCUT
GRADE
(g/t Au)
MMD-21-010 38.15 42.00 3.85 2 0.34 0.34
MMD-22-011 163.00 166.10 3.10 1 0.54 0.54
190.45 231.35 40.90 19 0.54 0.54
including 192.00 205.00 13.00 6 1.25 1.25
395.20 429.00 33.80 16 0.51 0.51
502.00 508.00 6.00 3 0.42 0.42
525.00 537.55 12.55 6 0.31 0.31
548.45 596.75 48.30 23 0.34 0.34
including 560.00 562.55 2.55 1 1.59 1.59
621.50 625.40 3.90 2 0.31 0.31
661.00 664.00 3.00 2 0.54 0.54
723.25 726.00 2.75 1 0.85 0.85
758.00 760.20 2.20 1 0.61 0.61
777.70 780.90 3.20 2 0.43 0.43
794.00 825.00 31.00 16 1.07 1.07
including 795.00 807.00 12.00 6 2.18 2.18
MMD-22-012A 150.00 152.00 2.00 2 0.65 0.65
5
296.00 298.00 2.00 2 0.39 0.39
329.65 336.00 6.35 5 0.49 0.49
352.00 358.95 6.95 6 1.98 1.98
including 358.55 358.95 0.40 0 28.8 28.8
377.85 382.00 4.15 3 0.73 0.73
410.00 412.00 2.00 2 0.54 0.54
474.00 484.50 10.50 9 0.41 0.41
including 479.00 481.00 2.00 2 1.11 1.11
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: Significant downhole gold intercepts along southern margin of Main Zone
HOLE ID FROM TO
HOLE
LENGTH
(m)
TRUE
WIDTH
(m)
CUT
GRADE
(g/t Au)
UNCUT
GRADE
(g/t Au)
MMD-22-013 33.00 62.75 29.75 21 1.03 1.03
including 48.00 62.75 14.75 11 1.71 1.71
75.00 88.00 13.00 9 0.35 0.35
92.00 116.00 24.00 17 0.76 0.76
including 98.00 98.40 0.40 9 29.6 29.6
126.65 198.80 72.15 53 0.37 0.37
216.00 259.00 43.00 32 0.54 0.54
including 225.80 227.80 2.00 1 1.50 1.50
and 238.00 251.00 13.00 10 1.02 1.02
333.00 337.00 4.00 3 0.42 0.42
421.40 454.65 33.25 26 0.32 0.32
463.00 481.65 18.65 15 0.32 0.32
including 470.00 473.00 3.00 2 1.22 1.22
509.00 511.00 2.00 2 0.37 0.37
MMD-22-015 31.00 36.00 5.00 4 0.40 0.40
59.00 84.00 25.00 19 0.67 0.67
including 61.00 63.00 2.00 2 1.94 1.94
and 78.00 80.50 2.50 2 1.29 1.29
99.20 149.00 49.80 38 0.35 0.35
including 105.40 108.50 3.10 2 1.46 1.46
160.00 179.90 19.90 15 0.81 0.81
including 160.00 167.00 7.00 5 1.47 1.47
223.00 225.00 2.00 2 0.45 0.45
340.70 344.80 4.10 3 0.77 0.77
446.50 458.00 11.50 9 0.40 0.40
6
482.00 484.00 2.00 2 0.55 0.55
491.95 494.00 2.05 2 0.45 0.45
530.65 534.90 4.25 4 1.11 1.11
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 3: Location of drillholes
HOLE EAST NORTH RL AZIMUTH DIP EOH
MMD-21-010 668357 5378845 437 135 -45 501,0m
MMD-22-011 668659 5379089 428 155 -65 840.0m
MMD-22-012A 668453 5378938 429 135 -45 497.0m
MMD-22-013 669013 5379180 427 155 -45 513.0m
MMD-22-015 669128 5379246 427 155 -45 551.95m
Approximate collar coordinates in NAD 83, Zone 15N
MMD-21-010 and MMD-22-012A drilled the western extension of the Main Zone. MMD-22-012A
is a redrill of MMD-22-012 that was lost in overburden. MMD-22-011 drilled at -65° beneath MMD-
21-006 (reported on January 28, 2022) and skirted the northwestern margin of the mineralization
model estimated by InnovExplor in 2013.
All three holes intersected zones of altered and mineralized diorite with local zones of higher
grade (e.g., 0.4m @ 28.8 g/t Au from 358.55m in MMD -22-012A), showing that the mineralized
system continues. MMD-22-011 intersected mineralized diorite to a greater depth than the
InnovExplor 2013 model, as well as the now familiar parallel high grade structure to the south of
the Main Zone (31.0m @ 1.07 g/t Au from 794m depth). While this intersection is deep, the
structure almost certainly extends to surface as is indicated by drilling on parallel sections.
The drillholes are notable for intersecting a major post-mineralization fault zone that shaves the
western edge of the Main Zone and most likely offsets mineralization to the south where it is
reflected by the previously drilled Southwest Zone.
MMD-22-013 and MMD-22-015 were drilled at -45° along the southern margin of the Main Zone.
MMD-22-013 was drilled above MMD-21-008 (reported on March 2, 2022), which returned several
high grade intercepts.
Both holes intersected strongly altered diorite with low grade gold mineralization san dwiched
between the variably altered volcaniclastic wallrock sequence. They also intersected the parallel
structural zone to the south of the Main Zone. Local high grades were also intersected (e.g., 0.4m
@ 29.6 g/t Au from 98.0m in MMD-22-013).
Goldshore has been logging historic core throughout this campaign to maximise the value of the
historic drill core. As part of this program, the team has commenced resampling sections of
historic core that were not sampled in the past. This has been driven by the recognition of
additional zones of mineralization that were previously ignored.
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Recently, the team discovered visible gold in quartz-pyrite veinlets in drillhole NS-92-247 at 546.9
meters depth (Figure 5). This highlights the potential for high grades in previously unrecognized
zones parallel to the main targets. In this case, it is a parallel structure along the northern edge of
the QES Zone.
Figure 5: Visible gold in quartz-pyrite veinlet in NS-92-247
Peter Flindell, VP Exploration commented : “These assay results come from our pre -winter
drilling programme, which largely tested the margins of the main zone. Drilling continues to show
the continuity of mineralization wit hin the main zone and the existence of mineralization in a
southern parallel zone , which we hope points to a larger mineralized volume and potentially a
much bigger project.”
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-
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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 the Moss Lake Gold
Project located in Ontario. Wesdome Gold Mines Ltd. is currently a strategic 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 Lake Gold Project through the next stages of
exploration and development.
About the Moss Lake Gold Project
The Moss Lake Gold Project is located approximately 100 km west of the city of Thunder Bay,
Ontario. It is accessed via Highway 11 which passes within 1 km of the property boundary to the
north. The Moss Lake Gold Project covers 14,292 hectares and consists of 282 unpatented and
patented mining claims.
Moss Lake hosts a number of gold and base metal rich deposits including the Moss Lake Deposit,
the East Coldstream Deposit (Table 4), the historically producing North Coldstream Mine (Table
5), and the Hamlin Zone, all of which occur over a mineralized trend exceeding 20 km in length.
A historical preliminary economic assessment was completed on Moss Lake in 2013 and
published by Moss Lake Gold1. A historical mineral resource estimate was completed on the East
Coldstream Deposit in 2011 by Foundation Resources Inc2,3. In addition to these zones, the Moss
Lake Gold Project also hosts a number of under-explored mineral occurrences which are reported
to exist both at surface and in historically drilled holes. The Moss Lake Deposit is a shear-hosted
disseminated-style gold deposit which outcrops at surface. It has been drilled over a 2.5 km length
and to depths of 300 m with 376 holes completed between 1983 and 2017. The last drilling
program conducted in 2016 and 2017 by Wesdome Gold Mines Ltd. (“ Wesdome”), which
consisted of widely spaced holes along the strike extension of the deposit was successful in
expanding the mineralized footprint and hydrothermal system 1.6 km to the northeast.
Additionally, the deposit remains largely open to depth. In 2017, Wesdome completed an induced
polarization survey which traced the potential extensions of pyrite mineralization associated with
the Moss Lake Deposit over a total strike length of 8 km and spanning the entire extent of the
survey grids.
The East Coldstream Deposit is a shear -hosted disseminated-style gold deposit which locally
outcrops at surface. It has been drilled over a 1.3 km length and to depths of 200 m with 138
holes completed between 1988 and 2017. The deposit remains largely open at depth and may
have the potential for expansion along strike. Historic drill hole highlights from the East
Coldstream Deposit include 4.86 g/t Au over 27.3 m in C-10-15.
The historically producing North Coldstream Mine is reported to have produced significant
amounts of copper, gold and silver 4 from mineralization with potential iron- oxide-copper-gold