Goldshore Resources advances winter drill program at Moss Gold Project
Goldshore Resources has completed 5,848 meters of a planned 15,000-meter winter drill program at its Moss Gold Project in Ontario, with additional assay results expected by the end of February.
"We're excited to see our exploration program yielding promising results, with the discovery of extended altered diorite intrusions along the Superion trend and ongoing progress in infilling critical data gaps along the Kawa Trend," said CEO Michael Henrichsen. "The addition of ground IP geophysics will further enhance our understanding of the property's potential, and we look forward to reviewing the preliminary results and integrating them into our ongoing exploration efforts."
Winter Exploration Program Update
In-Pit Drilling Progress
Goldshore has completed 19 drill holes across 5,848 meters, including 14 holes at the Southwest Zone. These holes successfully intersected shear zone-hosted mineralization within the altered diorite package, targeting previously unpopulated resource blocks. Additionally, this drilling has refined the near-surface extent of the southern margin of the zone.
Since late December, the company has been preparing ice on Snodgrass Lake and packing snow over muskeg areas at Superion and QES. Drilling rigs were moved in late January, and four holes have been completed at Superion, along with the first hole at QES Up. Early results indicate a broad chlorite-epidote-silica altered diorite intrusive with localized sericite-silica sulphide-bearing shear zones on the northern flank of the main shear zone corridor.
A third drill rig is being sourced to assist with the upcoming lake ice portion of the drilling program. Further assay results are expected by the end of February.
Bedrock Geochemistry Sampling Update
Goldshore has completed 41 of a planned 200 geochemical sampling holes. The program began in December with a track-mounted sonic rig focused on drilling through esker material to test the boundary between the Hood Lake Stock and volcanic rocks of the Kawa Trend.
Thirty-nine holes successfully intersected bedrock at depths ranging from 10 to 50 meters, while two holes, reaching a maximum depth of 64 meters, remained in esker material. The bedrock samples encountered include unmineralized Hood Lake Stock intrusion, sheared and faulted rocks of the Knife Lake Fault, and altered gabbro and volcanic rocks exhibiting significant pyrite mineralization.
Equity Grant to CFO
Goldshore has granted 500,000 incentive stock options and 250,000 restricted share units to newly appointed CFO Erica Borgstrom. The options are exercisable at $0.38 per share over five years, with vesting periods in 2025, 2026, and 2027. The restricted share units vested on February 10, 2025.
Marketing Agreement
Goldshore has entered into a three-month online marketing agreement with i2i Marketing Group, LLC, for corporate marketing and investor awareness services. The company will pay i2i a total of USD $325,000, with an initial payment of $81,250 upon signing and an additional $243,750 before media distribution testing.
About Goldshore Resources
Goldshore is a growth-oriented gold company focused on advancing the 100%-owned Moss Gold Project in Ontario, Canada. The project, positioned near the Trans-Canada Highway with access to hydroelectric power and a skilled workforce, has undergone significant exploration. Goldshore has invested over $60 million into the project, completing 80,000 meters of drilling as part of a cumulative 235,000-meter program.
The 2024 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.
Tags: Northern Ontario / Exploration / Gold / All Articles