October 21, 2021
VANCOUVER, B.C., October 21, 2021: Goldshore Resources Inc. (TSXV: GSHR / OTCQB: GSHRF / FWB: 8X00) (“Goldshore” or the “Company”), is pleased to announce 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.
- 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 identified: 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 Just Beginning: 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.
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 below in this release. These two early observations are very encouraging and we continue to advance our campaign and ramp up to 12,000m a month drilling capacity.”