WINSHEAR REPORTS DRILLING RESULTS FROM THE CORITIRI ZONE, GABAN GOLD PROJECT IN PERU 4m grading 3.78g/t Au 21m grading 1.29g/t Au 4m grading 5.04g/t Au
WINSHEAR REPORTS DRILLING RESULTS FROM THE CORITIRI ZONE, GABAN GOLD
PROJECT IN PERU
4m grading 3.78g/t Au
21m grading 1.29g/t Au
4m grading 5.04g/t Au
Vancouver, January 16, 2025
Winshear Gold Corp. (TSXV: WINS) (‘Winshear’ or the ‘Company’) is pleased to report the results
of its 2024 maiden drill program testing the Coritiri Zone at the Gaban Gold Project, South-
Eastern Peru. In late 2024, the company completed four diamond drill holes totalling 1,005
metres from two drill sites 100 metres apart (see previous release, Dec 10, 2024). The drill
holes intersected numerous gold-bearing fracture zones hosting oxidized sulphides with
variable amounts of quartz veinlets (a photo of the drill sites showing the trace of the drill
holes is presented in Figure 1).
Highlights from the drilling include:
• 4m grading 3.78 g/t Au from 93m, including 1m grading 14.74g/t Au in hole Gaban 24-
02;
• 21m grading 1.29 g/t Au from 102m in hole Gaban 24-02;
• 4m grading 5.04g/t Au from 189m in hole Gaban 24-04
A summary of significant assay results is presented in Table 1 below.
Richard Williams, Winshear’s CEO, commented: “We are pleased to see that the first ever
drill program at Gaban has confirmed the presence of both narrow high-grade and wider
lower-grade zones of gold mineralization. We will spend the next few months planning the
next steps for advancing the Gaban Gold Project.”
Drill Hole From (m) To (m) Length (m) Au (ppm)
Gaban 24-01 43 44 1 0.36
114 115 1 0.61
Gaban 24-02 58 59 1 0.40
93 97 4 3.78
(Including) 95 96 1 14.74
102 123 21 1.29
(Including) 102 113 11 1.56
(including) 115 123 8 1.22
126 130 4 0.26
173 174 1 2.839
Gaban 24-03 49 51 2 0.68
62 66 4 0.45
98 102 4 0.40
Gaban 24-04 88 95 7 0.25
122 123 1 0.24
131 133 2 1.70
135 136 1 0.29
189 193 4 5.04
203 205 2 0.328
Table 1. Significant Assay results at Gaban Gold project* .
*Intervals were derived with a cutoff of 0.10 g/t Au grade. Maximum internal dilution of 1 metre was applied for
all drill holes, except for the 21m intercept where a 2m internal dilution was applied. Further drilling is required
to determine the true width of the intercepts.
A complete table of intercepts with a 0.10 g/t Au cut off is presented at the end of this
announcement.
The drill program at the Coritiri Gold Zone confirmed the presence of a weakly to moderately
sheared sequence of intercalated slate and fine siltstones with some crosscutting fine -
grained microdioritic sills. The sequence contained sections with millimet re to centimetre
sized quartz veins/veinlet zones hosting pyrite and pyrrhotite. Fine disseminated sulphide
minerals were also observed in the sheared sedimentary host rock sequence.
The Coritiri Gold Zone 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 is
coincident with a five (5) kilometre long series of gold-in-stream sediment anomalies located
within the Yanamayo River catchment . The underlying geology of the area comprises
sheared and deformed siltstones and slates with foliation t ypically striking northwest -
southeast and dipping moderately to the southwest.
There are several prospect pits and short adits on outcropping quartz veins where visible
gold has been sampled and mapped, historical assays have ranged from below detection
limits up to 32.35 g/t Au, (see NR July 06, 2021).
Winshear set out to test several shear-hosted gold zones that have returned significant gold
values in several surface channel sampling programs. Previous sampling campaigns have
outlined a gold mineralized shear zone extending over a one kilometre by two kilometre area
with quartz vein sampling returning gold assay s ranging from below detection limit (<0.005
g/t) up to 11.2 g/t Au , (see Winshear NR Jan 18, 2021) . T he gold anomalous zone remains
open along strike to the east and southeast.
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 an 1,800 square kilometre area (Figure 2). The Company is investigating
Gaban as one of the potential hard-rock sources for the alluvial gold being mined at Madre
de Dios and on the Gaban project itself.
Winshear employs industry standard QA/QC and data verification protocols. The diamond
drill holes were completed using standard H Q rods. The drill core was cut lengthwise into
halves using a diamond-bladed saw, with one-half used for the assay sample and the other
half retained in core boxes and archived at the company storage warehouse in Juliaca,
Peru. Pulps and rejects are stor ed initially at the Certimin S.A. laboratories and later will
be stored on site at the company’s storage warehouse in Juliaca for archival purposes.
Mineralized zones were generally sampled at 1m or 2m intervals depending on the
geologist’s observed strength of mineralization and geological variability . Each core
sample was placed into a bag with a unique numbered sample identification tag. Two
certified fine and coarse quality blank control samples were inserted between every 30
core samples and one certified standard was inserted every 20 samples using the same
numbering sequence. Then samples were grouped into batches for shipping and
laboratory submissions. Chain of custody records are maintained for sample shipments
and the custody is transferred from Winshear to the laboratory upon delivery.
Samples were shipped to Certimin S. A. Laboratories in Juliaca, P eru for sample
preparation and pulps are then sent by Certimin to Lima for analysis. Samples were
analyzed using customary four acid digestion and ICP-MS finish. A standard gold fire assay
package was used to analyze gold. Laboratory Certimin S.A. is an independent laboratory
accredited and certified by INACAL – DA of Peru, Registro No LE-022.
Drill Hole From (m) To (m) Length (m) Au (ppm)
Gaban 24-01 26 27 1 0.19
43 44 1 0.36
46 49 3 0.13
52 53 1 0.10
63 64 1 0.20
99 101 2 0.10
108 109 1 0.11
114 115 1 0.61
181 182 1 0.14
Gaban 24-02 23 25 2 0.14
Gaban Gold Project
58 59 1 0.40
93 97 4 3.78
(Including) 95 96 1 14.74
99 100 1 0.19
102 123 21 1.29
(including) 102 113 11 1.56
(Including) 115 123 8 1.22
126 130 4 0.26
168 170 2 0.10
173 174 1 2.83
223 224 1 0.15
Gaban 24-03 49 51 2 0.68
62 66 4 0.45
87 89 2 0.16
98 102 4 0.40
120 121 1 0.13
152 154 2 0.11
Gaban 24-04 67 69 2 0.14
88 95 7 0.25
122 123 1 0.24
131 133 2 1.70
135 136 1 0.29
189 193 4 5.04
199 201 2 0.14
203 205 2 0.32
Table 2. Gold intercepts with a 0.10 g/t cut-off *.
Technical Information
J . P a t r i c i o V a r a s , P . Geo. is Winshear’s President and is a Qualified Person as defined by
National Instrument 43 -101. He has reviewed and approved the contents of this news
release. Mr. Varas has visited Winshear’s Gaban exploration project and has reviewed the
data from sampling programs for the project.
About Winshear Gold Corp.
Winshear Gold Corp. is a Canadian -based minerals exploration company advancing the Gaban
Gold Project in the Puno region of Peru. The Company considers Gaban to be one of the hard -
rock sources of gold contributing to the 700 km2 Madre de Dios alluvial goldfield, located 50 km
north of, and downstream from, the Gaban gold project.
For more information, please contact Irene Dorsman at +1 (604) 200 7874 or visit
www.winshear.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams”
Richard Williams, CEO
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