
Goldshore Resources Inc. (TSX-V: GSHR) (OTCQB: GSHRF) (FSE: 8X00) is pleased to announce the last batch of assay results from the Company’s recently completed 20,000-meter winter drill program (Figure 1) with the final results from six shallow holes drilled to confirm results from historical underground drill holes at the Main Zone of the Moss Gold Project in Northwest Ontario, Canada. The recently completed drill holes are part of a program to replace historical drill holes for which collar surveys, downhole surveys and/or assay results cannot be confirmed to support a future Measured and Indicated mineral resource estimate.
Michael Henrichsen, CEO of Goldshore commented, “We are pleased to confirm the quality of mineralization within the Moss Main Zone. The winter program has clearly demonstrated the emerging nature of the Moss deposit through significant growth under the conceptual open pit at the Southwest Zone, bringing mineralized shear zones up to surface from approximately 100 – 150 meters depth at the QES zone, the discovery of high-grade near surface mineralization at the Superion Zone, and now confirming high-grade mineralization at the Moss Main Zone associated with a historical underground exploration drift at the Main Zone. We look forward to bringing the results of the winter program into an updated mineral resource estimate in Q4 of this year in conjunction with the PEA, both being completed by G Mining Services.”
Figure 1: Map illustrating the completion of the 2024-2025 winter 20,000 m drill program across five expansion targets at the Moss Gold Project, highlighting key results that confirmed high-grade mineralization, extended shear zones, and have the potential to improve resource confidence.
Highlights
Technical Overview
Figure 2 shows the location of the drill holes being reported with respect to the planned winter drill program, while Figure 3 illustrates a cross section through drill hole MMD-25-196 that demonstrates the numerous high-grade shears in the Main Zone. Tables 1 & 2 summarize significant intercepts and drill hole locations, respectively.
Figure 2: Illustrates the 2025 final winter drill program targeting resource expansion within the conceptual open pit outlined in grey. Drill holes being reported are highlighted in red.
Figure 3: Drill section through MMD-25-196 confirming several close-spaced, anastomosing, high-grade gold-mineralized shear zones modelled in the Main Zone
The six shallow holes were designed to confirm the continuity and higher grades indicated by the historical drilling from the underground exploration drift. However, since the drift is no longer accessible, the precise location of these historical holes could not be confirmed. Additionally, these historical holes have limited downhole surveys, which create greater uncertainty in the positioning of assay composites. Minor spatial irregularities with high grade mineralized shears were noted and are believed to be caused by the above-mentioned limited survey control. Another factor is that the underground holes were drilled using BQ rods, whereas all current drilling is HQ diameter.
Hole MMD-25-192 and MMD-25-193 were drilled to confirm the results of the historical underground drilling off the eastern side of the exploration drift. The historical holes and the eastern zone were drilled longer than the others to test a second group of high-grade shears. The holes collared into a moderate to strongly sheared, sericite-silica-chlorite altered diorite complex with broad pyrite-chalcopyrite mineralization that increases with the intensity of shearing. Intense shearing corresponds to higher grade intercepts, including 8.55m of 1.86 g/t Au from 37.25m, 5.0m of 3.26 g/t Au from 139m, 4.35m of 5.34 g/t Au from 172.85m, and 19.6m of 3.25 g/t Au from 183.0m in MMD-25-192; and 10.5m of 4.17 g/t Au from 55.5m, 7.0m of 2.18 g/t Au from 124.0m, and 2.0m of 8.92 g/t Au from 180.0m in MMD-25-193. These shears bulk out to broader intercepts of 39.0m of 1.09 g/t Au from 79.0m and 53.0m of 2.03 g/t Au from 160.0m in MMD-25-192; and 29.4m of 1.73 g/t Au from 37.0m, 19.0m of 1.09 g/t Au from 124.0m and 30.0m of 1.14 g/t Au from 175.0m in MMD-25-193. The shearing intensity and mineralization both weaken towards the end of the holes where they exit the core shear system.
Holes MMD-25-194, MMD-25-196, MMD-25-197, and MMD-25-198 were drilled to confirm the historical underground drilling results from the central and western sides of the exploration drift. The holes collared into the same moderate to strongly sheared, sericite-silica-hematite altered diorite complex which continued throughout each hole. The strongly sheared section contained increased pyrite-chalcopyrite mineralization with higher grade intercepts including 18.05m of 1.89 g/t from 19.95m in MMD-25-194; 19.0m of 1.53 g/t Au from 32.0m and 10.0m of 2.53 from 113.0m in MMD-25-196; 12.0m of 2.12 g/t Au from 7.0m, 4.0m of 5.98 g/t Au from 57.0m, and 14.05m of 3.47 g/t Au from 80.95m in MMD-25-197; and 7.0m of 2.79 g/t Au from 83.0m in MMD-25-198.These shears bulk out to broader intercepts with 62.5m of 1.16 g/t Au from 11.0m in MMD-25-194; 70.0m of 1.11 g/t Au from 8.0m in MMD-25-196; 45.0m of 1.10 g/t Au from 5.0m and 30.0m of 2.00 g/t Au from 67.0m in MMD-24-197; and 81.0m of 0.68 g/t Au from 9.0m in MMD-25-198. The holes were stopped within mineralization after they had passed the extent of the underground drilling.
Figure 4: Hole MMD-25-192: High grade section of a strongly sheared and sericite-silica altered mineralized diorite yielding an intercept of 19.6m of 3.25 g/t Au from 183.0m.
Table 1: Significant intercepts
HOLE ID | FROM | TO | LENGTH (m) | TRUE WIDTH (m) |
CUT GRADE (g/t Au) |
UNCUT GRADE (g/t Au) |
MMD-25-192 | 21.70 | 49.00 | 27.30 | 13.1 | 0.88 | 0.88 |
incl | 37.25 | 45.80 | 8.55 | 4.1 | 1.86 | 1.86 |
79.00 | 118.00 | 39.00 | 18.8 | 1.09 | 1.09 | |
incl | 87.00 | 100.65 | 13.65 | 6.6 | 1.80 | 1.80 |
and | 108.00 | 113.00 | 5.00 | 2.4 | 1.63 | 1.63 |
123.40 | 129.00 | 5.60 | 2.7 | 1.02 | 1.02 | |
138.00 | 152.00 | 14.00 | 6.8 | 1.46 | 1.46 | |
incl | 139.00 | 144.00 | 5.00 | 2.4 | 3.26 | 3.26 |
160.00 | 213.00 | 53.00 | 25.7 | 2.03 | 2.03 | |
incl | 163.00 | 166.00 | 3.00 | 1.5 | 3.67 | 3.67 |
and | 172.85 | 177.20 | 4.35 | 2.1 | 5.34 | 5.34 |
incl | 176.20 | 177.20 | 1.00 | 0.5 | 19.8 | 19.8 |
and | 183.00 | 202.60 | 19.60 | 9.5 | 3.25 | 3.25 |
221.00 | 245.00 | 24.00 | 11.7 | 0.54 | 0.54 | |
MMD-25-193 | 21.85 | 30.00 | 8.15 | 6.0 | 1.46 | 1.46 |
37.00 | 66.40 | 29.40 | 21.7 | 1.73 | 1.73 | |
incl | 55.50 | 66.00 | 10.50 | 7.7 | 4.17 | 4.17 |
incl | 64.00 | 66.00 | 2.00 | 1.5 | 10.3 | 10.3 |
84.05 | 92.00 | 7.95 | 5.9 | 1.13 | 1.13 | |
incl | 88.00 | 92.00 | 4.00 | 3.0 | 1.81 | 1.81 |
112.00 | 118.00 | 6.00 | 4.5 | 0.77 | 0.77 | |
124.00 | 143.00 | 19.00 | 14.2 | 1.09 | 1.09 | |
incl | 124.00 | 131.00 | 7.00 | 5.2 | 2.18 | 2.18 |
incl | 130.00 | 131.00 | 1.00 | 0.7 | 11.8 | 11.8 |
153.00 | 161.00 | 8.00 | 6.0 | 0.59 | 0.59 | |
175.00 | 205.00 | 30.00 | 22.6 | 1.14 | 1.14 | |
incl | 180.00 | 182.00 | 2.00 | 1.5 | 8.92 | 8.92 |
incl | 180.00 | 181.00 | 1.00 | 0.8 | 16.4 | 16.4 |
and | 188.00 | 194.00 | 6.00 | 4.5 | 1.62 | 1.62 |
228.00 | 251.00 | 23.00 | 17.5 | 0.46 | 0.46 | |
incl | 234.00 | 237.00 | 3.00 | 2.3 | 1.69 | 1.69 |
MMD-25-194 | 11.00 | 73.50 | 62.50 | 44.5 | 1.16 | 1.16 |
incl | 19.95 | 38.00 | 18.05 | 12.8 | 1.89 | 1.89 |
incl | 37.00 | 38.00 | 1.00 | 0.7 | 12.3 | 12.3 |
and | 45.00 | 47.45 | 2.45 | 1.7 | 3.80 | 3.80 |
and | 66.60 | 73.50 | 6.90 | 5.0 | 2.59 | 2.59 |
80.75 | 86.00 | 5.25 | 3.8 | 0.50 | 0.50 | |
100.00 | 105.00 | 5.00 | 3.6 | 0.50 | 0.50 | |
124.00 | 150.00 | 26.00 | 19.0 | 0.61 | 0.61 | |
incl | 133.00 | 135.00 | 2.00 | 1.5 | 1.23 | 1.23 |
and | 139.95 | 145.00 | 5.05 | 3.7 | 1.40 | 1.40 |
MMD-25-196 | 8.00 | 78.00 | 70.00 | 50.4 | 1.11 | 1.11 |
incl | 12.00 | 14.00 | 2.00 | 1.4 | 3.78 | 3.78 |
and | 32.00 | 51.00 | 19.00 | 13.7 | 1.53 | 1.53 |
and | 58.00 | 64.00 | 6.00 | 4.3 | 1.25 | 1.25 |
and | 71.00 | 76.00 | 5.00 | 3.6 | 2.66 | 2.66 |
89.00 | 91.00 | 2.00 | 1.5 | 0.48 | 0.48 | |
112.15 | 135.40 | 23.25 | 17.1 | 1.27 | 1.27 | |
incl | 113.00 | 123.00 | 10.00 | 7.3 | 2.53 | 2.53 |
142.00 | 148.00 | 6.00 | 4.4 | 0.62 | 0.62 | |
MMD-25-197 | 5.00 | 50.00 | 45.00 | 32.4 | 1.10 | 1.10 |
incl | 7.00 | 19.00 | 12.00 | 8.6 | 2.12 | 2.12 |
and | 35.00 | 45.00 | 10.00 | 7.2 | 1.28 | 1.28 |
56.00 | 61.00 | 5.00 | 3.6 | 4.96 | 4.96 | |
incl | 57.00 | 61.00 | 4.00 | 2.9 | 5.98 | 5.98 |
incl | 58.00 | 59.00 | 1.00 | 0.7 | 17.5 | 17.5 |
67.00 | 97.00 | 30.00 | 21.9 | 2.00 | 2.00 | |
incl | 74.00 | 76.00 | 2.00 | 1.5 | 1.50 | 1.50 |
and | 80.95 | 95.00 | 14.05 | 10.3 | 3.47 | 3.47 |
incl | 83.95 | 86.35 | 2.40 | 1.8 | 13.7 | 13.7 |
111.35 | 125.00 | 13.65 | 10.0 | 0.31 | 0.31 | |
131.00 | 150.00 | 19.00 | 14.1 | 0.61 | 0.61 | |
MMD-25-198 | 9.00 | 90.00 | 81.00 | 57.4 | 0.68 | 0.68 |
incl | 24.00 | 31.00 | 7.00 | 4.9 | 1.30 | 1.30 |
and | 83.00 | 90.00 | 7.00 | 5.0 | 2.79 | 2.79 |
113.00 | 136.00 | 23.00 | 16.6 | 0.63 | 0.63 | |
145.00 | 147.00 | 2.00 | 1.5 | 0.56 | 0.56 | |
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 5 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: Drill Collars
HOLE | EAST | NORTH | RL | AZIMUTH | DIP | EOH |
MMD-25-192 | 668,981 | 5,379,169 | 427 | 104.5 | -45.5 | 249.00 |
MMD-25-193 | 668,983 | 5,379,169 | 427 | 155.2 | -45.3 | 252.20 |
MMD-25-194 | 668,945 | 5,379,162 | 429 | 155.1 | -45.0 | 150.00 |
MMD-25-196 | 668,894 | 5,379,177 | 431 | 154.6 | -44.5 | 162.00 |
MMD-25-197 | 668,845 | 5,379,134 | 432 | 140.0 | -44.4 | 150.00 |
MMD-25-198 | 668,819 | 5,379,123 | 429 | 150.0 | -45.4 | 150.00 |
Analytical and QA/QC Procedures
The HQ diameter drill core has been oriented using ACTIII or equivalent tools and validated in the core shack. All core has been sawed in half cut just off the core orientation line (bottom of hole) with the right half (looking down hole) of the core bagged and sent a third-party analytical laboratory. The left half of the core was returned to core boxes and is stored at Goldshore’s Kashabowie core yard facility.
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 analysed 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 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.
Qualified Person
Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.
Mr. Flindell has verified the data disclosed. To verify the information related to the winter drill program at the Moss Gold Project, Mr. Flindell has visited the property several times; discussed and reviewed logging, sampling, bulk density, core cutting and sample shipping processes with responsible site staff; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations. He has also overseen the Company’s health and safety policies in the field to ensure full compliance, and consulted with the Project’s host indigenous communities on the planning and implementation of the drill program, particularly with respect to its impact on the environment and the Company’s remediation protocols.
About Goldshore
Goldshore is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. It is led by the ex-global head of structural geology for the world’s largest gold company and backed by one of Canada’s pre-eminent private equity firms. The Company’s current focus is the advanced stage 100% owned Moss Gold Project which is positioned in Ontario, Canada, with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The Company has invested over $75 million of new capital and completed approximately 100,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 255,000 meters of drilling. The 2024 updated NI 43-101 mineral resource estimate has expanded to 1.54 million ounces of Indicated gold resources at 1.23 g/t Au and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au. The MRE only encompasses 3.6 kilometers of the 35+ kilometer mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for development in this cycle. Please see NI 43-101 technical report titled: “Technical Report and Updated Mineral Resource Estimate for the Moss Gold Project, Ontario, Canada,” dated March 20, 2024 with an effective date of January 31, 2024 available under the Company’s SEDAR+ profile at www.sedarplus.ca.
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