Goldshore Resources drills 78.35m at 1.17 g/t Au at Moss Lake Deposit

Goldshore Resources Inc. has announced assay results from its ongoing 100,000-meter drill program at the Moss Lake Project in Northwest Ontario. Drilling is aiming to better define and expand high-grade structural zones within the Moss Lake deposit to improve the overall grade and volume beyond that of the historic mineral resource.

Highlights:

• Four shallow holes drilled during the winter ice program have confirmed high-grade gold mineralization within shears hosted by altered diorite with best intercepts of:

• 78.35m @ 1.17 g/t Au from 170.35m depth in MMD-22-020, including
  • 22.65m @ 2.31 g/t Au from 217.0m, including
  • 5.65m @ 5.69 g/t Au from 234.0m

• 24.7m @ 1.28 g/t Au from 105.3m depth in MMD-22-017, including
  • 2.75m @ 7.80 g/t Au from 106.9m

• 24.65m @ 1.05 g/t Au from 81.2m depth in MMD-22-016, including
  • 2.0m @ 7.95 g/t Au from 103.0m
• 12.0m @ 1.41 g/t Au from 127.0m

President and CEO Brett Richards stated: "We are excited to continue to deliver consistent drilling results supporting our belief from the beginning of our 100,000m drill program, that Moss Lake is much larger in depth, width and along strike, to the historical mineral resource. I am very encouraged about the high grade sections we are seeing, as this will provide a lot of optionality when we model the resource later in the year and start to look at economic pit shells. We see several PEA permutations, including a smaller, higher grade starting project (Phase 1) followed by a larger scale operation formulated on the global resource (Phase 2). Given the current economic climate, a lower CapEx project (Phase 1) expanding to the larger operation (Phase 2) may well be the best approach to developing Moss Lake, while not losing sight of the larger Tier One potential. We will make these determinations later in the year, as we continue to evaluate the results from our 100,000m program.

Tags: Northern Ontario / Exploration / Gold / All Articles