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A Major Historical Multi-Million Ounce Gold Opportunity with Gold Shore Resources

Nov 20, 2021

October 21, 2021 Goldshore Resources Inc. announced gold assay results from the first three holes (MMD-21-001 to 003) drilled to validate gold mineralization at the Moss Lake gold deposit in Northwest Ontario, Canada.
Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project.
Wesdome Gold Mines Ltd. is currently a strategic shareholder of Goldshore with an approximate 30% 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.
Highlights included:
Significant Width Increase: Mineralization was intersected over 550 m in MMD-21-001 which corresponds to an estimated true thickness of 422 m which is a 52% increase over the 2013 historical resource model in that area.
Substantial Depth Extension: Mineralization was intersected between 100 and 500 m below the 2013 historical resource model in MMD-21-002 which represents a +100% increase to the known vertical extent of the gold zones in this area.
Several higher-grade zones were identified and the best intercepts include:
57.00m at 1.20 g/t Au from 4.0m and 36.00m at 1.15 g/t Au from 182.0m in MMD-21-003
31.00m at 1.18 g/t Au from 122.0m and 16.30m at 2.09 g/t Au from 350.7m in MMD-21-001
35.00m at 1.09 g/t Au from 100.0m in MMD-21-002
Drilling has just Begun and the three holes reported here represent only 2.3% of the planned 100,000 meters of drilling scheduled to be completed by the end of Q2 of 2022 as the drill program ramps-up from two to four drill rigs.

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Brett Richards, President and Chief Executive Officer of Goldshore commented:
“These are the first drillhole results from the very beginning of our 100,000m program. The results from these first holes validate our belief that the Moss Lake gold deposit is very under-explored and geologically misunderstood, given the wide lateral extension indicated by these results. We are also seeing a good correlation with the twinned historic drill hole (ML-08-03) as noted in this release on our website. These two early observations are very encouraging and we continue to advance our campaign and ramp up to 12,000m a month drilling capacity.”
The Moss Lake Gold Project is located approximately 100 km west of the city of Thunder Bay, Ontario. It is accessed via Highway 11 which passes within 1 km of the property boundary to the north. The Moss Lake Gold Project covers 14,292 hectares and consists of 282 unpatented and patented mining claims.

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Tags: Northern Ontario / Exploration / Gold / All Articles