Winshear Discovers New Outcropping GOLD Mineralisation at Its Gaban GOLD Project IN the Puno GOLD Belt, PERU
WINSHEAR DISCOVERS NEW OUTCROPPING GOLD MINERALISATION AT ITS GABAN GOLD
PROJECT IN THE PUNO GOLD BELT, PERU
Vancouver, July 6, 2021
Winshear Gold Corp. (TSX-V: WINS) is pleased to report that it has received gold assay results
from an additional 199 bedrock channel samples taken in April and May of 2021 at the Gaban
Gold Project in southeastern Peru.
Gaban is located in the Puno Orogenic Gold Belt ("POGB") at the juncture of the San Gaban and
lnambari Rivers. The two rivers drain into the Madre de Dios basin 38 kilometres ( km) to the
north where extensive alluvial gold mining covers an 1,800 square kilometre area ( Figure 1 ).
Outcropping goldbearing veins and shear zones at Gaban are hardrock sources for the alluvial
gold being mined on the Gaban concession itself, and possibly for the alluvial gold being mined
at Madre de Dios basin downstream. The Company continues to map and sample in the vicinity
of its proposed drill sites to improve targeting of the drill holes currently being permitted.
Highlights
Of the 199 new samples, 47 samples contain anomalous gold (greater than 0.05 grams
per tonne (g/t));
The highest value among the new samples, 32.35 g/t gold, is the highest gold assay on
the property to date.
Three anomalous samples containing as much as 6.95 g/t gold define an emerging new
anomalous zone 1.5 km northwest of the main Coritiri anomaly, provisionally named the
Yanamayo Target.
The new sampling has also added important details about goldbearing shear zones
which will help improve drill hole targeting.
This project has never been drill tested.
Dr. Mark Sander, President of Winshear, commented: "The 199 new samples at Gaban were
taken to improve our understanding of gold distribution in the Coritiri anomaly around proposed
drill sites currently being permitted. Three new samples taken 1 km to the northwest of Coritiri
contain elevated gold grades and point to another emerging outcropping gold target. We will
follow up this new zone and extend our sampling to the east and south as the field season
progresses to better define the extent of the new target area.
"Winshear intends to drill the first holes ever drilled in the Coritiri anomaly as soon as
permission is received."
Coritiri Gold Zone
Coritiri was initially identified from interpretation of airborne magnetic data from a survey flown in
2018, which inferred the presence of an 8 km x 1 km NWSE linear target adjacent to a 6.5 km x 3.0 km
northwest southeast trending magnetic high (Figure 2). The geophysical anomaly is coincident with a 5
km long series of goldinstream sediment anomalies located within the Yanamayo River catchment
(Figure 3). The underlying geology in the area comprises sheared and deformed siltstones and slates
with foliation typically striking northwestsoutheast and dipping moderately to the southwest.
There are numerous artisanal workings in the Yanamayo catchment that exploit placer gold deposits,
where Winshear field crews have observed local alluvial miners extracting numerous nuggets, the
largest of which weighed 54 grammes. There are several prospect pits and adits developed on
outcropping quartz veins, some exposing visible gold.
The new channel sample assays reported here were collected from creekside and excavated outcrops
in Winshear's field campaigns of April and May 2021. Summary statistics of the sample set include:
Of the 199 new bedrock channel samples reported in this press release :
13 samples returned between 0.50 32.35 g/t Au
27 samples returned between 0.10 0.50 g/t Au
7 samples returned between 0.05 0.10 g/t Au
141 samples returned between 0.005 0.05 g/t Au
11 samples returned below detection (0.005 g/t Au)
Of the total 904 bedrock samples collected to date:
68 samples returned between 0.50 32.35 g/t Au
93 samples returned between 0.10 0.50 g/t Au
54 samples returned between 0.05 0.10 g/t Au
546 samples returned between 0.005 0.05 g/t Au
143 samples returned below detection (0.005 g/t Au)
Locations and grade ranges of all bedrock samples in the Coritiri area are plotted on Figure 4, revealing
the dimensions of the bedrock anomalous zones.
On June 10, 2021, Winshear announced that it has completed and submitted its Declaración de Impacto
Ambiental (DIA), the suite of environmental and social studies required to be completed ahead of
drilling at its Gaban gold project. The Company looks forward to revealing the depth dimension of the
surface bedrock gold anomaly at Coritiri that provided a source of local alluvial gold deposits and
perhaps of the large Madre de Dios alluvial gold fields downstream.
Technical Information
William McGuinty P. Geo. of OTD Exploration Services Inc., a Qualified Person as defined by National
Instrument 43101, 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 multielement ICPOES package. No standards were inserted for the multielement
suite. All samples are returned to the Company and stored at secure facility in Juliaca.
About Winshear Gold Corp
Winshear Gold Corp. is a Canadianbased minerals exploration company that is currently advancing the
Gaban Gold Project in the Puno region of Peru. Gaban is a possible hardrock source for the modern
day alluvial gold rush underway in the Madre de Dios basin downstream; Winshear is investigating the
project for potential to host significant volumes of potentially minable gold resource.
The Company is also conducting fully funded arbitration proceedings against the Tanzanian Government
to recover its investment and damages for the expropriated SMP gold project in Tanzania.
For more information, please contact Irene Dorsman at +1 (604) 200 7874 or by email 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.
Cautions Regarding Forward-Looking Statements
This news release includes certain statements and information that may contain forward-looking information within
the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of
historical facts, including, if any, those related to the likelihood of commercial mining or the ability to fund future mine
development are forward-looking statements and contain forward-looking information. Such forward-looking
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concerning: Company plans at the Gaban or Tinka projects, the Company's ability to fund either of those projects,
and any Company plans in relation to any interest it has or may have in the SMP project in Tanzania.
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