Goldshore
Intersects
Multiple New
Parallel Shears Increasing Width of QES Zone by Over 100 meters -
Including 1.33 g/t Au over 54.45m
VANCOUVER,
B.C., Canada -- March 14, 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 Gold
Project").
Highlights:
-
Results from seven holes
in-filling the QES Zone have confirmed wide zones of
gold mineralization containing multiple, closely spaced high grade
shears in previously
poorly drilled volumes with best intercepts of:
-
0.86 g/t Au
over 120.65m from 593.0m depth in MQD-22-104, including
-
1.33 g/t Au
over 54.45m from 657.0m
-
1.06 g/t Au
over 44.3m from 591.15m depth in MQD-22-099, including
1.55 g/t Au
over 27.1m from 594.0m
-
0.48 g/t Au
over 185.55m from 208.4m depth in MQD-22-0100, including
-
1.67 g/t Au
over 12.75m from 346.25m
-
0.81 g/t Au
over 61.35m from 614.65m depth in MQD-22-101, including
-
1.18 g/t Au over 14.65m from
623.35m
-
0.74 g/t Au
over 80.95m from 193.05m depth in MQD-22-102, including
-
1.43 g/t Au
over 20.0m from 246.1m
-
0.71 g/t Au
over 77m from 190.0m depth in MQD-22-103, including
-
1.43 g/t Au
over 16.0m from 203.0m
-
Additionally, these holes
intersected parallel mineralized shears at shallow depths south of
the main QES zone which are open along strike and
expand the cumulative width of the QES Zone by over 100m to
620m.
Best intercepts
include:
-
2.23 g/t Au
over 11.2m from 119.05m depth in MQD-22-100
-
5.90 g/t Au
over 2.6m from 91.0m depth in MQD-22-101
-
2.41 g/t Au
over 8.5m from 112.7m depth in MQD-22-104
President and CEO Brett Richards
stated: "As previously illustrated
throughout the last 12 months of publishing drill results, these
results continue to support our thesis that the size and scale of
the Moss Gold Project will be large enough to support a material
and meaningful update to the mineral resource estimate, which is
expected in April 2023, followed by a preliminary economic
assessment on the updated resource. We continue to find
additions to the resource on step out holes laterally and along
strike from the historic resource profile, and QES continues to
widen with continued mineralization to be tested to make it even
wider. We look forward to seeing
the impact of these additions to the resource model."
Technical Overview
Figure 1 shows the better intercepts in plan
view and Figure 2 is a typical section through hole MQD-22-100 and
-104. 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 the current Mineral Resource and highlighting the additional
shears
Figure 2: Drill section through MQD-22-100 and -104 relative to the
current Mineral Resource and highlighting the additional shears and
potential to significantly deepen the open pit shell
These most recent results
continue to build on the successful winter infill and expansion
program at the QES Zone. The robust widths and consistent gold
grades in all seven holes provide strong confirmation of the
geological interpretation, and significantly increase the
resolution of data in hitherto poorly defined volumes.
Holes MQD-22-098, -100, -102 and
-103 were focused on closing gaps in the existing drill pattern at
shallower elevations. All four holes intercepted a tightly spaced
set of narrow, high grade shear zones within a broad envelope of
strongly altered granodiorite.
Holes MQD-22-099, -101 and -104
were stepped back to the southeast to test the deeper portion of
the eastern end of the QES Zone. These holes have defined the true
width of the high- and low-grade mineralized domains in an area of
widely spaced and partially sampled historical drilling. In
addition to these deeper intercepts on the main QES shear zone, all
three holes generated significant high-grade intercepts at shallow
depths which define a series of parallel mineralized shears in
sericite-hematite altered volcanics and narrow diorite intrusive
bodies 200m to the south of the main QES Zone.
Figure 3: Drill core from 112-123m (1m @ 22.1g/t Au) in MQD-22-100
highlighting a mineralized quartz-rhodochrosite vein within the
sheared, altered intrusion. Note that this photo is not intended to
be representative of broader mineralization on the Moss Lake Gold
Project.
Pete Flindell, VP Exploration for
Goldshore, said "These results confirm
our belief that the Moss Gold deposit is wider and deeper than
previously thought – now filling a 600-700-meter-wide corridor –
and that there are many more shears hosting high-grade gold
mineralization. This will assist our goal of expanding the mineral
resource and improving its quality in April 2023."
Table 1: Significant downhole gold intercepts
|
HOLEID
|
FROM
|
TO
|
LENGTH
(m)
|
TRUE WIDTH
(m)
|
CUT
GRADE
(g/tAu)
|
UNCUT
GRADE
(g/tAu)
|
|
MQD-22-098
|
122.00
|
124.00
|
2.00
|
1.4
|
0.32
|
0.32
|
|
|
245.00
|
279.80
|
34.80
|
26.3
|
0.65
|
0.65
|
|
including
|
254.90
|
258.95
|
4.05
|
3.0
|
2.68
|
2.68
|
|
and
|
269.00
|
273.00
|
4.00
|
3.0
|
1.68
|
1.68
|
|
|
298.00
|
364.00
|
66.00
|
50.9
|
0.59
|
0.59
|
|
including
|
307.00
|
315.00
|
8.00
|
6.1
|
1.03
|
1.03
|
|
|
397.00
|
407.00
|
10.00
|
7.9
|
0.38
|
0.38
|
|
|
529.00
|
533.00
|
4.00
|
3.3
|
0.37
|
0.37
|
|
|
|
|
|
|
|
|
|
MQD-22-099
|
18.00
|
20.00
|
2.00
|
1.3
|
0.45
|
0.45
|
|
|
183.35
|
205.55
|
22.20
|
15.5
|
0.51
|
0.51
|
|
|
256.00
|
258.00
|
2.00
|
1.4
|
0.51
|
0.51
|
|
|
280.00
|
285.00
|
5.00
|
3.6
|
0.32
|
0.32
|
|
|
294.30
|
309.00
|
14.70
|
10.8
|
0.51
|
0.51
|
|
|
379.00
|
394.00
|
15.00
|
11.3
|
0.45
|
0.45
|
|
including
|
382.00
|
385.00
|
3.00
|
2.3
|
1.23
|
1.23
|
|
|
410.00
|
412.00
|
2.00
|
1.5
|
0.32
|
0.32
|
|
|
425.00
|
435.50
|
10.50
|
8.0
|
0.33
|
0.33
|
|
|
461.65
|
469.60
|
7.95
|
6.2
|
0.39
|
0.39
|
|
|
540.90
|
548.10
|
7.20
|
5.7
|
0.51
|
0.51
|
|
|
555.90
|
557.95
|
2.05
|
1.6
|
0.38
|
0.38
|
|
|
576.00
|
579.30
|
3.30
|
2.6
|
0.35
|
0.35
|
|
|
591.15
|
635.45
|
44.30
|
35.8
|
1.06
|
1.06
|
|
including
|
594.00
|
621.10
|
27.10
|
21.9
|
1.55
|
1.55
|
|
|
|
|
|
|
|
|
|
MQD-22-100
|
99.40
|
104.00
|
4.60
|
2.8
|
0.31
|
0.31
|
|
|
119.05
|
130.25
|
11.20
|
7.0
|
2.23
|
2.23
|
|
|
168.05
|
189.85
|
21.80
|
14.1
|
0.54
|
0.54
|
|
including
|
187.60
|
189.85
|
2.25
|
1.5
|
2.30
|
2.30
|
|
|
208.40
|
393.95
|
185.55
|
128.7
|
0.48
|
0.48
|
|
including
|
287.80
|
290.00
|
2.20
|
1.5
|
1.02
|
1.02
|
|
and
|
310.05
|
314.00
|
3.95
|
2.8
|
1.07
|
1.07
|
|
and
|
335.00
|
339.90
|
4.90
|
3.5
|
1.13
|
1.13
|
|
and
|
346.25
|
359.00
|
12.75
|
9.1
|
1.67
|
1.67
|
|
|
409.00
|
418.00
|
9.00
|
6.7
|
0.36
|
0.36
|
|
|
436.00
|
456.25
|
20.25
|
15.2
|
0.74
|
0.74
|
|
including
|
439.00
|
449.00
|
10.00
|
7.5
|
1.09
|
1.09
|
|
|
496.00
|
500.00
|
4.00
|
3.0
|
0.32
|
0.32
|
|
|
|
|
|
|
|
|
|
MQD-22-101
|
91.00
|
93.60
|
2.60
|
1.7
|
5.90
|
5.90
|
|
|
179.80
|
196.60
|
16.80
|
11.6
|
0.57
|
0.57
|
|
including
|
192.55
|
194.80
|
2.25
|
1.6
|
2.61
|
2.61
|
|
|
215.05
|
272.00
|
56.95
|
40.3
|
0.39
|
0.39
|
|
including
|
231.90
|
234.55
|
2.65
|
1.9
|
1.29
|
1.29
|
|
|
325.00
|
357.00
|
32.00
|
23.4
|
0.41
|
0.41
|
|
including
|
345.10
|
347.60
|
2.50
|
1.8
|
1.76
|
1.76
|
|
|
375.00
|
379.15
|
4.15
|
3.1
|
0.42
|
0.42
|
|
|
425.85
|
447.00
|
21.15
|
15.9
|
0.31
|
0.31
|
|
|
464.40
|
467.00
|
2.60
|
2.0
|
0.33
|
0.33
|
|
|
502.00
|
517.50
|
15.50
|
12.0
|
0.37
|
0.37
|
|
|
528.00
|
562.20
|
34.20
|
26.7
|
0.48
|
0.48
|
|
including
|
533.10
|
539.30
|
6.20
|
4.8
|
1.04
|
1.04
|
|
|
614.65
|
676.00
|
61.35
|
49.5
|
0.81
|
0.81
|
|
including
|
623.35
|
638.00
|
14.65
|
11.8
|
1.18
|
1.18
|
|
and
|
643.00
|
657.75
|
14.75
|
11.9
|
1.00
|
1.00
|
|
and
|
661.80
|
668.00
|
6.20
|
5.0
|
1.50
|
1.50
|
|
|
710.90
|
714.95
|
4.05
|
3.3
|
0.34
|
0.34
|
|
|
728.05
|
737.15
|
9.10
|
7.5
|
0.30
|
0.30
|
|
|
745.80
|
750.00
|
4.20
|
3.5
|
0.48
|
0.48
|
|
|
|
|
|
|
|
|
|
MQD-22-102
|
23.80
|
29.50
|
5.70
|
4.1
|
0.34
|
0.34
|
|
|
166.50
|
170.80
|
4.30
|
3.2
|
0.35
|
0.35
|
|
|
193.05
|
274.00
|
80.95
|
63.7
|
0.74
|
0.74
|
|
including
|
205.00
|
209.00
|
4.00
|
3.1
|
1.73
|
1.73
|
|
and
|
246.10
|
266.10
|
20.00
|
16.0
|
1.43
|
1.43
|
|
|
291.00
|
298.60
|
7.60
|
6.2
|
0.34
|
0.34
|
|
|
324.00
|
352.00
|
28.00
|
23.0
|
0.69
|
0.69
|
|
including
|
329.00
|
334.60
|
5.60
|
4.6
|
2.22
|
2.22
|
|
|
369.00
|
372.00
|
3.00
|
2.5
|
0.46
|
0.46
|
|
|
|
|
|
|
|
|
|
MQD-22-103
|
114.45
|
134.00
|
19.55
|
13.5
|
0.31
|
0.31
|
|
|
140.05
|
158.00
|
17.95
|
12.6
|
0.41
|
0.41
|
|
|
168.40
|
178.95
|
10.55
|
7.5
|
0.75
|
0.75
|
|
|
190.00
|
267.00
|
77.00
|
56.8
|
0.71
|
0.71
|
|
including
|
203.00
|
219.00
|
16.00
|
11.6
|
1.43
|
1.43
|
|
and
|
262.10
|
264.65
|
2.55
|
1.9
|
5.10
|
5.10
|
|
|
279.00
|
284.65
|
5.65
|
4.3
|
1.71
|
1.71
|
|
including
|
280.35
|
282.95
|
2.60
|
2.0
|
3.21
|
3.21
|
|
|
435.90
|
449.00
|
13.10
|
10.4
|
0.63
|
0.63
|
|
|
|
|
|
|
|
|
|
MQD-22-104
|
112.70
|
121.20
|
8.50
|
5.8
|
2.41
|
2.41
|
|
|
220.80
|
236.85
|
16.05
|
11.6
|
0.70
|
0.70
|
|
|
249.00
|
252.20
|
3.20
|
2.3
|
0.47
|
0.47
|
|
|
290.90
|
296.65
|
5.75
|
4.3
|
0.64
|
0.64
|
|
|
473.05
|
483.00
|
9.95
|
7.9
|
0.46
|
0.46
|
|
|
495.80
|
521.00
|
25.20
|
20.1
|
0.31
|
0.31
|
|
|
533.80
|
557.00
|
23.20
|
18.7
|
0.59
|
0.59
|
|
including
|
544.00
|
547.00
|
3.00
|
2.4
|
1.52
|
1.52
|
|
|
568.00
|
575.50
|
7.50
|
6.1
|
0.94
|
0.94
|
|
|
593.00
|
713.65
|
120.65
|
101.2
|
0.86
|
0.86
|
|
including
|
614.00
|
628.20
|
14.20
|
11.8
|
1.06
|
1.06
|
|
and
|
657.00
|
711.45
|
54.45
|
46.1
|
1.33
|
1.33
|
|
|
726.00
|
731.10
|
5.10
|
4.4
|
0.52
|
0.52
|
|
|
755.70
|
760.45
|
4.75
|
4.1
|
0.56
|
0.56
|
|
|
771.05
|
778.85
|
7.80
|
6.7
|
0.31
|
0.31
|
|
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 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
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 Gold Project
located in Ontario. Wesdome is currently a large shareholder of
Goldshore with an approximate 22% 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
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 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
Lake 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.