Goldshore
Summer Field Program Identifies Five New Gold Trends Including Two
High Grade Copper-Gold Trends
VANCOUVER,
B.C., Canada -- September 28, 2023 -- InvestorsHub NewsWire
-- Goldshore Resources
Inc. (TSXV:
GSHR /
OTCQB: GSHRF / FWB: 8X00) ("Goldshore"
or the "Company"), is pleased to update the market with
respect to results from the Company's summer exploration program
at the Moss Gold Project in Northwest Ontario, Canada (the "Moss Gold
Project").
Highlights:
Goldshore field crews have
identified five unique gold
mineralization trends
including two polymetallic Au-Cu
trends across the Moss
Gold Project through a combination of ionic leach soil sampling and
property wide field mapping with a combined strike of over 35
kilometers. Recent rock sample results include:
-
Moss Trend – 9.59 g/t Au
and 60.6 g/t Ag
plus 5.0 g/t Au, 96.2 g/t
Ag, and
0.98%
Cu from samples in
diorite-hosted shears along strike from the current Mineral
Resource
-
24.9 g/t
Au and 9.99g/t Ag from
samples of strongly altered dacite 200m south of the Moss Main
zone, representing a new parallel zone.
-
Kawa Trend – 33.7 g/t
Au, 0.64% Zn and 75.3ppm
Mo from sheared diorite/volcanic contacts within a new 6.5
kilometer long belt.
-
Hamlin Trend – has been expanded to
become an 8 kilometer long polymetallic Au-Ag-Cu-Mo belt with
values including 0.73g/t Au, 0.14% Cu, 7.6 ppm
Bi and
7.1 ppm Te.
-
Coldstream Trend – has been widened
to 800 meters through the discovery of parallel structures
assaying 1.07 g/t Au
and 0.98% Zn.
-
9.79
g/t Au from mafic-hosted
carbonate shear veins at the "Benton" prospect, east of the East
Coldstream deposit.
-
Vanguard Trend –
3.97% Cu,
1.73g/t Au and
19.1 g/t
Ag plus
2.94 g/t
Au in a 9 kilometer long
belt of polymetallic VMS Cu-Zn-Au-Ag mineralization that is now
found to be 120 meters wide through discovery of additional
lenses.
President and CEO Brett Richards
stated: "We
have previously stated our confidence to the market that the Moss
Project of c.183Mt containing an inferred resource of 6M oz Au at
1.02g/t (with 55% of the deposit hosting a shear domain at 1.84
g/t)[1]
could be the start
to uncovering multiple deposits of gold mineralization, and
polymetallic mineralization on our land package. The targets that
we have identified and now sampled need to be drill tested to prove
their voracity, and to provide a clearer picture on how best to
prioritize the many targets we have previously highlighted to the
market. The 30km trend of
mineralization at Moss confirms the exciting potential of
identifying and growing a large, multi-generational mining camp in
the Shebandowan Greenstone belt."
Field
Program Update
Goldshore embarked on a property
wide field reconnaissance program in June 2022 – in the background
to drilling – exploring the numerous unexplained geophysical
anomalies and under explored gold and base metal showings. This
program accelerated over the last several months. The field crews
have compiled a systematic interpretation of the project geology,
structure, alteration, and mineralization across the Project.
Through this investigation and in combination with a substantial
ionic soil leach program, the historic gold showings and newly
discovered mineralization have resolved to be part of five distinct
mineralized trends, including two polymetallic trends.
Figure 1: Selective results from the ongoing Moss Gold Project
field program
The Moss Trend has been confirmed
over an 8-kilometer strike containing the existing resource. The
mineralization is dominantly hosted in anastomosing shears through
an extensive altered diorite package. This zone is consistent with
a belt of magnetic low bodies (altered intrusions) adjacent to
folded magnetic highs (magnetic-bearing wall rocks) that present a
belt with a high competency and redox contrast. Recent work has
discovered elevated copper and silver mineralization towards the
southwestern extents with recent rock samples returning values
including 9.59 g/t Au
and 60.6 g/t Ag,
5.0 g/t
Au plus
96.2 g/t
Ag, and
0.98%
Cu. Samples of strongly
altered dacite 200m south of the Moss Main zone returned assays
of 24.9
g/t Au and 9.99g/t Ag,
representing a new parallel zone. The field results confirm the
interpretation from the step out and deep drilling at the Moss Gold
Project that the mineralized corridor is at least 1,000 meters
wide.
The Kawa Trend lies approximately 2
kilometers south of, and parallel to, the Moss Trend over a
6.5-kilometer strike length with a confirmed width of 550m. It has
a similar magnetic character as the Moss Trend and mapping has
shown that mineralization is hosted within and along a sheared
diorite/volcanic contact. We therefore expect the Kawa Trend to
have the same potential as the Moss Trend. Partial assays results
have been received for this area with values including
33.7g/t
Au.
The known Hamlin Trend has been
extended by 4 kilometers to the east to form an 8-kilometer-long
belt of polymetallic
Au-Ag-Cu-Mo mineralization
with a confirmed width from 400 to 700 meters. Recent expanded ICP
analysis indicate additional Bi and Te potential. Partial assays
results have been received for this area with values including 0.73g/t Au, 0.14% Cu, 7.6 ppm
Bi and
7.1 ppm Te.
The Coldstream Trend containing the
East Coldstream deposit has a confirmed strike of 3.5
kilometers hosted by late shearing within altered mafic
volcanics and includes the historic North Coldstream Cu-Co mine.
Recent exploration has discovered parallel mineralized shears
within the northern intermediate volcanics expanding the width
potential of the mineralization with rock sample assays returning
values including 1.07 g/t Au and 0.98%
Zn.
The Vanguard Trend has an
established 9-kilometer strike length of polymetallic VMS
Cu-Zn-Au-Ag mineralization linking with the Iris Lake Au prospect through
a series of untested geophysical conductors. Results from the
recent exploration have discovered additional parallel gold bearing
shears north of the main Vanguard showing and ignored by much of
the historical exploration giving it width of 120 meters. Partial
assays results have been received for this area with values
including 3.97% Cu, 1.73g/t Au and 19.1
g/t Ag and
2.94 g/t
Au.
Additional poorly understood
prospects defined by historical prospecting and known to host Cu-Au
mineralization have been confirmed toward the east, west, and south
of the East Coldstream deposit with assay results including
9.79 g/t
Au. Future exploration
programs will focus on better understanding this mineralization and
its potential.
Pete Flindell, VP Exploration for
Goldshore, said "Goldshore's geologists have
done an excellent job of mapping and sampling through challenging
terrain to uncover the additional mineralized potential of the Moss
Gold Project. This includes ionic leach soil sampling across muskeg
to understand the character of concealed structural targets. These
results speak to district-scale potential of the Moss Gold
Project."
Corporate
Announcement
Heather Laxton has resigned from
the Goldshore board of directors with immediate
effect.
Heather was a nominee of Wesdome
Gold Mines Ltd. and served on the Board since the listing of the
Company.
Qualified
Persons
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.
About
Goldshore
Goldshore is an emerging junior
gold development company, and owns 100% of the Moss Gold Project
located in Ontario. Wesdome is currently a large shareholder of
Goldshore with an approximate 19% 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 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
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| 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 are generally, but not
always, identified by the words "expects," "plans," "anticipates,"
"believes," "intends," "estimates," "projects," "potential" and
similar expressions, or that events or 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
Gold Project, the release of an updated mineral resource estimate
and preliminary economic assessment, 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.