Goldshore
Continues to Intersect Multiple +100m Wide Mineralized Zones at QES
Zone
Including
1.03 g/t Au over 152.0m in MQD-22-072
VANCOUVER,
B.C., January 17, 2023 -- InvestorsHub NewsWire
-- 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
(the "Moss Lake
Gold Project").
Highlights:
-
Results for seven holes, drilled to infill
the western part of the QES Zone, have confirmed and extended
closely spaced higher-grade gold mineralized structures within a
large volume of mineralized diorite. The
holes were drilled to infill a sparsely tested volume at 300 to 500
meters vertical depth over a 500-meter strike length. These results
improve the resolution of modelled shears and will potentially
facilitate the expansion of pit-constrained mineral resource in
this volume. Best intercepts include (from East to
West):
-
1.03 g/t Au
over 152.0m from 464.0m depth in MQD-22-072
including
-
1.03 g/t Au over 10.25m from
466.7m,
-
1.27 g/t Au over 8.55m from 478.95m,
and
-
1.76 g/t Au
over 61m from 514m
-
0.95 g/t Au
over 130.85m from 436.15m depth in MQD-22-070, including
-
1.37 g/t Au
over 41.75m from 451.25m, and
-
1.40 g/t Au
over 29.0m from 518m
-
0.61 g/t Au
over 137.0m from 501.0m depth in MQD-22-092
including
-
2.67 g/t Au over 3.65m from
511.3m,
-
1.76 g/t Au over 6.0m from 568m,
and
-
1.22 g/t Au over 8.7m from 625m
-
0.64 g/t Au
over 153.2m from 521.0m,
including
-
1.32 g/t Au over 8.65m from 533m,
-
1.19 g/t Au over 9.0m from 557m,
and
-
1.00 g/t Au
over 24.5m from 579.5m
-
Hole MQD-22-094 collared in a
new
high-grade shear zone to the south of the QES Zone
that is believed to be an extension of the
historic Boundary Zone. This is one of many
parallel shears that remains to be fully tested.
-
1.94 g/t Au
over 11.3m from 1.7m in MQD-22-094
President and CEO Brett Richards stated:
"The
results from these drill holes in the QES Zone are part of the
52-hole data set that was not included in the recent mineral
resource estimate. They confirm our belief that there are
additional high-grade shear zones within the deposit that will add
to the shear domain component of the mineral resource that we
anticipate will be prioritized in the mining schedule when we
conduct our preliminary economic analysis this year."
Technical Overview
Figure 1 shows the better intercepts in plan
view and Figure 2 is a typical section through hole MQD-22-072.
Table 1 shows the significant intercepts. Table 2 shows the drill
hole locations.
Figure 1:
Drill plan showing best of several +1 g/t Au intercepts relative to
implicit modelled grade shells
Figure 2:
Drill section through MQD-22-072 relative to implicit modelled
grade shells and pit shell
Results have been received for seven holes
that have infilled a poorly drilled volume of the QES Zone over a
strike length of 500 meters and at a depth of 300 to 500 meters.
This corresponds to the base of the constraining pit shell to the
2022 mineral resource and is an addition of drill data 100-200
meters beneath most of the drilling in the area.
The results confirm the geological
interpretation that multiple higher-grade shears are hosted within
a greater volume of low-grade intrusion host and that this model
extends at depth. The addition of structural data at depth and
along strike will allow for improved modelling of the shear system
and increased confidence in the mineralization, which should allow
for an expansion of the Mineral Resource in this area.
As with previous drill holes, the intercepts
reported herein include several narrow high-grade intercepts that
mark the approximate centerline of shears. Examples include: 11.3
g/t Au over 1.6m from 507.05m depth in MQD-22-062; 10.4 g/t Au over
1m from 529m in MQD-22-070; 21.0 g/t Au over 0.45m from 522m, 23.6
g/t Au over 0.45m from 526.8m, 14.1 g/t Au over 0.5m from 536m,
13.8 g/t Au over 1m from 549m and 11.5 g/t Au over 0.45m from 571m
depth in MQD-22-072; 15.0 g/t Au over 0.4m from 580.85m in
MQD-22-094 and 11.0 g/t Au over 0.6m from 636.6m in
MQD-22-097.
Figure 3:
Drill core from 549-550m (1m @ 13.8g/t Au) in MQD-22-072
highlighting sheared, altered intrusion.
The observation of parallel shears outside of
the diorite intrusion, as noted near the collar of MQD-22-094,
implies that the mineralized system extends beyond the limits of
intrusion. This suggests substantial exploration potential,
particularly where the mineralized shears might transect
additional, but yet unmapped, intrusions.
Pete Flindell, VP Exploration for Goldshore,
said "These
drill results confirm the high-grade shears that we have modelled
at the QES Zone and show that there are additional shears that we
can model ahead of the next mineral resource update. This should
all work together to add to the pit constrained mineral
resource."
Table 1: Significant downhole gold intercepts
|
HOLE
ID
|
FROM
|
TO
|
LENGTH
(m)
|
TRUE WIDTH
(m)
|
CUT
GRADE
(g/t
Au)
|
UNCUT
GRADE
(g/t
Au)
|
|
MQD-22-062
|
202.00
|
204.00
|
2.00
|
1.4
|
0.44
|
0.44
|
|
|
494.20
|
511.90
|
17.70
|
14.1
|
1.31
|
1.31
|
|
including
|
505.90
|
508.65
|
2.75
|
2.2
|
7.33
|
7.33
|
|
|
533.00
|
540.50
|
7.50
|
6.0
|
0.41
|
0.41
|
|
|
546.50
|
548.90
|
2.40
|
1.9
|
0.31
|
0.31
|
|
|
557.10
|
561.20
|
4.10
|
3.3
|
0.31
|
0.31
|
|
|
575.65
|
579.40
|
3.75
|
3.1
|
0.38
|
0.38
|
|
|
590.65
|
630.80
|
40.15
|
33.1
|
0.74
|
0.74
|
|
including
|
600.30
|
602.95
|
2.65
|
2.2
|
2.83
|
2.83
|
|
and
|
617.15
|
628.00
|
10.85
|
9.0
|
1.06
|
1.06
|
|
|
|
|
|
|
|
|
|
MQD-22-070
|
332.50
|
340.00
|
7.50
|
5.9
|
0.52
|
0.52
|
|
|
365.00
|
369.00
|
4.00
|
3.2
|
0.58
|
0.58
|
|
|
389.00
|
391.00
|
2.00
|
1.6
|
0.37
|
0.37
|
|
|
436.15
|
567.00
|
130.85
|
108.1
|
0.95
|
0.95
|
|
including
|
451.25
|
493.00
|
41.75
|
34.3
|
1.37
|
1.37
|
|
and
|
518.00
|
547.00
|
29.00
|
24.1
|
1.40
|
1.40
|
|
and
|
565.00
|
567.00
|
2.00
|
1.7
|
2.12
|
2.12
|
|
|
608.00
|
610.00
|
2.00
|
1.7
|
0.59
|
0.59
|
|
|
630.00
|
641.00
|
11.00
|
9.3
|
0.33
|
0.33
|
|
|
|
|
|
|
|
|
|
MQD-22-072
|
228.05
|
231.70
|
3.65
|
2.6
|
0.36
|
0.36
|
|
|
317.00
|
323.00
|
6.00
|
4.4
|
0.54
|
0.54
|
|
|
394.70
|
407.00
|
12.30
|
9.1
|
0.51
|
0.51
|
|
including
|
394.70
|
397.00
|
2.30
|
1.7
|
1.45
|
1.45
|
|
|
432.50
|
445.95
|
13.45
|
10.0
|
0.30
|
0.30
|
|
|
464.00
|
616.00
|
152.00
|
116.6
|
1.03
|
1.03
|
|
including
|
466.70
|
476.95
|
10.25
|
7.7
|
1.03
|
1.03
|
|
and
|
478.95
|
487.50
|
8.55
|
6.5
|
1.27
|
1.27
|
|
and
|
496.20
|
500.00
|
3.80
|
2.9
|
1.05
|
1.05
|
|
and
|
514.00
|
575.00
|
61.00
|
46.8
|
1.76
|
1.76
|
|
|
|
|
|
|
|
|
|
MQD-22-092
|
31.00
|
53.00
|
22.00
|
14.5
|
0.33
|
0.33
|
|
|
155.80
|
170.00
|
14.20
|
9.9
|
0.50
|
0.50
|
|
including
|
166.85
|
169.00
|
2.15
|
1.5
|
1.79
|
1.79
|
|
|
240.00
|
244.00
|
4.00
|
2.9
|
0.99
|
0.99
|
|
including
|
242.00
|
244.00
|
2.00
|
1.4
|
1.62
|
1.62
|
|
|
391.00
|
393.00
|
2.00
|
1.5
|
0.34
|
0.34
|
|
|
455.00
|
457.00
|
2.00
|
1.5
|
0.43
|
0.43
|
|
|
479.45
|
487.20
|
7.75
|
5.9
|
0.63
|
0.63
|
|
|
501.00
|
638.00
|
137.00
|
107.6
|
0.61
|
0.61
|
|
including
|
511.30
|
514.95
|
3.65
|
2.8
|
2.67
|
2.67
|
|
and
|
540.10
|
546.00
|
5.90
|
4.6
|
1.03
|
1.03
|
|
and
|
568.00
|
574.00
|
6.00
|
4.7
|
1.76
|
1.76
|
|
and
|
587.00
|
589.90
|
2.90
|
2.3
|
1.41
|
1.41
|
|
and
|
596.00
|
598.00
|
2.00
|
1.6
|
1.65
|
1.65
|
|
and
|
610.00
|
614.00
|
4.00
|
3.2
|
1.01
|
1.01
|
|
and
|
625.00
|
633.70
|
8.70
|
6.9
|
1.22
|
1.22
|
|
|
677.00
|
706.00
|
29.00
|
23.5
|
0.31
|
0.31
|
|
|
710.60
|
726.00
|
15.40
|
12.5
|
0.39
|
0.39
|
|
|
|
|
|
|
|
|
|
MQD-22-094
|
1.70
|
13.00
|
11.30
|
7.4
|
1.94
|
1.94
|
|
|
137.20
|
141.00
|
3.80
|
2.6
|
0.45
|
0.45
|
|
|
154.00
|
166.00
|
12.00
|
8.3
|
0.67
|
0.67
|
|
|
234.00
|
238.00
|
4.00
|
2.8
|
0.57
|
0.57
|
|
|
468.30
|
487.65
|
19.35
|
15.2
|
0.67
|
0.67
|
|
including
|
471.10
|
478.60
|
7.50
|
5.9
|
1.27
|
1.27
|
|
|
521.00
|
674.20
|
153.20
|
125.6
|
0.64
|
0.64
|
|
including
|
533.00
|
541.65
|
8.65
|
6.9
|
1.32
|
1.32
|
|
and
|
544.90
|
553.00
|
8.10
|
6.5
|
1.05
|
1.05
|
|
and
|
557.00
|
566.00
|
9.00
|
7.3
|
1.19
|
1.19
|
|
and
|
579.50
|
604.00
|
24.50
|
20.1
|
1.00
|
1.00
|
|
|
716.15
|
719.65
|
3.50
|
3.0
|
0.46
|
0.46
|
|
|
|
|
|
|
|
|
|
MQD-22-096
|
313.25
|
327.90
|
14.65
|
11.2
|
0.86
|
0.86
|
|
including
|
324.00
|
327.90
|
3.90
|
3.0
|
2.81
|
2.81
|
|
|
377.90
|
384.55
|
6.65
|
5.2
|
1.74
|
1.74
|
|
including
|
381.00
|
384.55
|
3.55
|
2.8
|
3.01
|
3.01
|
|
|
564.00
|
568.00
|
4.00
|
3.3
|
0.35
|
0.35
|
|
|
|
|
|
|
|
|
|
MQD-22-097
|
143.45
|
147.00
|
3.55
|
2.4
|
0.93
|
0.93
|
|
|
165.35
|
172.00
|
6.65
|
4.6
|
0.33
|
0.33
|
|
|
179.00
|
186.00
|
7.00
|
4.8
|
0.36
|
0.36
|
|
|
390.00
|
394.10
|
4.10
|
3.0
|
0.63
|
0.63
|
|
|
491.00
|
496.65
|
5.65
|
4.3
|
0.63
|
0.63
|
|
|
507.00
|
522.00
|
15.00
|
11.5
|
0.83
|
0.83
|
|
including
|
520.00
|
522.00
|
2.00
|
1.5
|
3.90
|
3.90
|
|
|
544.00
|
551.00
|
7.00
|
5.4
|
0.44
|
0.44
|
|
|
566.00
|
572.25
|
6.25
|
4.9
|
1.02
|
1.02
|
|
including
|
566.00
|
568.00
|
2.00
|
1.6
|
2.19
|
2.19
|
|
|
586.00
|
637.20
|
51.20
|
40.8
|
0.67
|
0.67
|
|
including
|
629.00
|
637.20
|
8.20
|
6.6
|
2.21
|
2.21
|
|
|
653.00
|
675.50
|
22.50
|
18.3
|
0.44
|
0.44
|
|
Intersections calculated
above at 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: Location of drill holes in this press release
|
HOLE
|
EAST
|
NORTH
|
RL
|
AZIMUTH
|
DIP
|
EOH
|
|
MQD-22-062
|
669,803
|
5,378,938
|
429
|
335°
|
-50°
|
651.1
|
|
MQD-22-070
|
670,122
|
5,379,148
|
433
|
333°
|
-49°
|
651.1
|
|
MQD-22-072
|
670,206
|
5,379,205
|
441
|
336°
|
-50°
|
651.1
|
|
MQD-22-092
|
670,059
|
5,379,068
|
439
|
337°
|
-50°
|
734.9
|
|
MQD-22-094
|
669,984
|
5,379,010
|
441
|
337°
|
-50°
|
750.0
|
|
MQD-22-096
|
669,733
|
5,379,076
|
433
|
336°
|
-50°
|
651.0
|
|
MQD-22-097
|
669,894
|
5,378,952
|
446
|
335°
|
-50°
|
750.0
|
|
Approximate collar
coordinates in NAD 83, Zone 15N
|
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-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
100% of the Moss Lake Gold Project located in Ontario. Wesdome is
currently a large shareholder of Goldshore with an
approximate 23% 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.
Peter Flindell, P.Geo., MAusIMM, MAIG, Vice
President - Exploration of the Company, a qualified person under NI
43-101 has approved the scientific and technical information
contained in this news release.
Neither
the TSXV nor its Regulation Services Provider (as that term is
defined in the policies of the TSXV) accepts responsibility for the
adequacy or accuracy of this release.
For More
Information - Please Contact:
Brett A. Richards
President, Chief Executive Officer and
Director
Goldshore Resources Inc.
P. +1 604
288 4416 M. +1
905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com
Facebook: GoldShoreRes |
Twitter: GoldShoreRes |
LinkedIn: goldshoreres
Cautionary
Note Regarding Forward-Looking Statements
This news release contains statements that
constitute "forward-looking statements." Such forward looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the Company's actual results, performance or
achievements, or developments to differ materially from the
anticipated results, performance or achievements expressed or
implied by such forward-looking statements. Forward
looking statements are statements that are not historical facts and
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conditions "will," "would," "may," "could" or "should"
occur.
Forward-looking statements in this news
release include, among others, statements relating to expectations
regarding the exploration and development of the Moss Lake Gold
Project, and other statements that are not historical facts. By
their nature, forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors and risks include, among others: the
Company may require additional financing from time to time in order
to continue its operations which may not be available when needed
or on acceptable terms and conditions acceptable; compliance with
extensive government regulation; domestic and foreign laws and
regulations could adversely affect the Company's business and
results of operations; the stock markets have experienced
volatility that often has been unrelated to the performance of
companies and these fluctuations may adversely affect the price of
the Company's securities, regardless of its operating performance;
and the impact of COVID-19.
The forward-looking information contained in
this news release represents the expectations of the Company as of
the date of this news release and, accordingly, is subject to
change after such date. Readers should not place undue importance
on forward-looking information and should not rely upon this
information as of any other date. The Company undertakes no
obligation to update these forward-looking statements in the event
that management's beliefs, estimates or opinions, or other factors,
should change.
This news release does not constitute an
offer to sell, or a solicitation of an offer to buy, any securities
in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.