Winshear Channel Sampling Expands Coritiri GOLD Zone at the Gaban GOLD Project IN PERU
WINSHEAR CHANNEL SAMPLING EXPANDS CORITIRI GOLD ZONE AT THE GABAN GOLD PROJECT
IN PERU
Vancouver, October 14, 2020
Winshear Gold Corp. (TSX-V: WINS) has received gold assay results from an additional 69 channel
samples at the Coritiri Target within the Gaban Gold Project in south-eastern Peru. Gaban is located
in the Puno Orogenic Gold Belt (“POGB”) at the juncture of the San Gaban and Inambari Rivers, which
then drain into the Madre de Dios basin where extensive alluvial gold mining covers a 700 square
mile area (Figure 1). Winshear is investigating Gaban as a potential hard-rock source for the alluvial
gold being mined at Madre de Dios.
Dr. Mark Sander, President of Winshear, commented: “The first exploration campaign of 2020 on our
Gaban gold project has served to increase the size of the main Coritiri anomaly to 400 m by 1,200 m
and defined another emerging gold anomaly several hundred metres to th e north. With Covid19
restrictions easing, we are now back in the field with one team and planning to add a second in the
coming weeks to accelerate progress in covering more ground with high quality channel samples. We
are also beginning the permitting process for our first drill holes, intending to collect all required field
data this year.”
Key Points
• 69 channel samples were collected from creek-side and excavated outcrops in Winshear’s
first campaign of 2020.
• Of the 69 channel samples reported in this press release:
o 5 samples returned between 0.50 – 3.53g/t Au
o 2 samples returned between 0.10 – 0.50 g/t Au
o 50 samples returned between 0.005 – 0.10 g/t Au
o 12 samples returned below detection (0.005 g/t Au)
• Of the total 299 samples collected to date:
o 42 samples returned between 0.50 – 15.8 g/t Au
o 37 samples returned between 0.10 – 0.50 g/t Au
o 200 samples returned between 0.005 – 0.10 g/t Au
o 20 samples returned below detection (0.005 g/t Au)
• Winshear has defined multiple mineralized structures within the 400m x 1,200m area of the
main Coritiri anomaly associated with a shear / deformation zone dipping to the southwest
at approximately 40º. In addition, there are isolated, outlier high grade samples to the east
and south of Coritiri reflected in the Winshear and Palamina samples.
Coritiri Gold Zone
Coritiri was initially identified from interpretation of airborne magnetic data, flown in 2018, which
inferred the presence of an 8 km x 1 km NW-SE linear target adjacent to a 6.5 km x 3.0 km northwest-
southeast trending magnetic high. The geophysical anomaly / target is coincident with a 5 km long
series of gold-in-stream sediment anomalies located within the Yanamayo River catchment. The
underlying geology in the area comprises sheared and deformed siltstones and slates with foliation
typically striking northwest-southeast and dipping moderately to the southwest.
There are numerous artisanal workings in the Yanamayo c atchment that develop placer gold
deposits, and there are several prospect pits and adits developed on outcropping quartz veins. The
most recent sampling campaign has extended the mineralized footprint of the Coritiri anomaly.
Winshear’s follow up campaigns will be focused north, east, and west of the Coritiri Gold Zone to
better understand the relationship of the outlier gold anomalies which are not currently interpreted
to represent a continuously mineralized single anomaly. Further field work is now underway to fill in
gaps in sample coverage. The Company has elected to apply for a DIA (environmental impact study)
to permit up to 40 drill platforms in the Coritiri Gold Zone. Field work to support the application is
planned for completion by early December.
Technical Information
William McGuinty P. Geo. of OTD Exploration Services Inc., a Qualified Person as defined by National
Instrument 43-101, has reviewed and approved the contents of this news release. Mr. McGuinty has
visited Winshear’s Gaban exploration project and reviewed sampling methods and quality assurance
/ quality control (QA/QC) programs for the project.
Channel samples are taken from exposed outcrops and cut to capture the best available angle to the
orientation of the sampled structure. Samples collected in the field are accompanied by third party,
certified gold standards, sample blanks and duplicates, then transported by Winshear personnel to
the Certimin S.A. laboratory in Juliaca, Peru. Samples are processed by Certimin S.A. in Juliaca and
prepared sample splits are transported and assayed by the Certimin S.A. Laboratory in Lima, Peru.
Samples are assayed for gold using fire assay with an AA finish. Assays currently use a 50 gram charge.
Samples are also tested using a multi-element ICP-OES package. No standards were inserted for the
multi-element suite. All samples are returned to the Company and stored at secure facility in Juliaca.
About Winshear Gold Corp
In 2019 Winshear Gold Corp. acquired the Gaban Gold Project in the Puno region, SE Peru and the
Tinka IOCG project in the Ica district, southern Peru, from Palamina Corp. The Company, formerly
Helio Resource Corp., has also delivered notice to the Tanzanian government to commence
arbitration to recover its investment in the SMP gold project in Tanzania.
For more information please contact Irene Dorsman at (604) 210 -8751 or by e -mail at
ON BEHALF OF THE BOARD OF DIRECTORS
“Mark V. Sander”
Mark V. Sander, President
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Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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