Vancouver, British Columbia--(Newsfile Corp. - April 22, 2025) - Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FWB: 8X00) ("Goldshore" or the "Company"), is pleased to announce its latest assay results from its ongoing 20,000-meter drill program and the first results from QES Up program targeting the near surface extension of the most northern QES shears at the Moss Gold Project in Northwest Ontario, Canada (the "Moss Gold Project"). In addition, the drilling targeted the main QES zone to determine the continuity of higher-grade mineralization and its orientation.
Michael Henrichsen, CEO of Goldshore commented, "Results from our drilling campaign continue to demonstrate both the consistency and continuity of grade at the Moss Deposit with drill hole MQD-25-171 surpassing the 200 grade x thickness (GxT) threshold representing the highest GxT ever reported by the Company. We are pleased to see good continuity of higher grades as well as determining that this higher-grade mineralization has a shallow plunge to the west, which will help us target additional high-grade mineralization within the deposit. We look forward to further results being released over the coming weeks."
Highlights:
- Results from two drill holes, which infilled significant drilling gaps in the QES Zone, intersected wide intervals of gold-mineralized core shears, including the highest-grade x thickness intersection ever reported by Goldshore. The results confirm the presence of shallow-plunging, higher-grade gold mineralization within the core shears and demonstrate the potential to discover additional plunging shoots. In addition, the results from MQD-25-171 exceeded the grade expectations based on the current Mineral Resource Estimate (MRE) with best intercepts of:
- 124.35m of 1.65 g/t Au from 295.0m in MQD-25-171, including
- 7.55m of 1.97 g/t Au from 322.3m and
- 47.0m of 3.08 g/t Au from 336.0m
- 77.5m of 0.54 g/t Au from 203.5m in MQD-25-170, including
- 11.4m of 1.24 g/t Au from 208.6m and
- 7.35m of 1.09 g/t Au from 246.0m
- Three additional short holes and the two extended holes successfully intersected the near surface extensions of deeper marginal shears along the northern edge of the QES Zone at QES Up with best intercepts of:
- 8.6m of 0.53 g/t Au from 138.4m in MQD-25-153, including
- 2.0m of 1.03 g/t Au from 145m
- 7.2m of 0.36 g/t Au from 107m in MQD-25-154
- 13.55m of 0.59 g/t Au from 88.5m in MQD-25-156, including
- 2.1m of 1.17 g/t Au from 96.9m
- 3.0m of 1.60 g/t Au from 75.0m in MQD-25-170
- 8.0m of 0.54 g/t Au from 83.0m in MQD-25-171
Technical Overview
Figure 1 shows the location of the drill holes being reported with respect to the planned winter drill program, while Figure 2 illustrates a cross section through drill hole MQD-25-171. Tables 1 & 2 summarize significant intercepts and drill hole locations, respectively.
Figure 1: Summarizes the ongoing winter 2025 drill program targeting resource expansion within the conceptual open pit outlined in grey. Drill holes being reported are highlighted in red.
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Figure 2: Cross section through MQD-25-171 illustrating the mineralized core shears in the QES Zone, as well as the extension of marginal shears toward surface on the northern flank of the QES Zone (QES Up).
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Ongoing drilling has targeted QES Up, which aims to prove the surface extension of deeper-modelled mineralized shear zones along the northern boundary of the QES Zone. This area lies entirely within the conceptual open pit with all mineralized intersections representing opportunities to convert currently modelled waste to mineral resource. Two holes were extended through the entirety of the QES Zone, where they infilled gaps in the existing drilling.
Holes MQD-25-153, MQD-25-154, MQD-25-156, MQD-25-170, and MQD-25-171 were drilled on 100m sections targeting surface extensions of deeper-modelled mineralized shear zones along the northern boundary of the QES Zone. All five holes collared into a weakly deformed and chlorite-epidote altered diorite with intermittent sericite-silica-hematite altered shear zones increasing with intensity at depth. The sericite-silica-hematite shears are moderately mineralized with intercepts including 8.6m of 0.53 g/t Au from 138.4m in MQD-25-153, including 2.0m of 1.03 g/t Au from 145m; 10.0m of 0.36 g/t Au from 107m in MQD-25-154; 13.55m of 0.59 g/t Au from 88.5m in MQD-25-156, including 2.1m of 1.17 g/t Au from 96.9m; 3.0m of 1.60 g/t Au from 75.0m in MQD-25-170; and 8.0m of 0.54 g/t Au from 83.0m in MQD-25-171 among several other lower-grade shears (Table 1).
The first three holes (MQD-25-153, MQD-25-154, MQD-25-156) were terminated within the mineralized QES envelope, as the deeper sections of the Zone have been sufficiently tested by previous drilling.
Hole MQD-25-170 was drilled 100m further west and was extended through the full width of the QES Zone to infill a volume of minimal drill testing. The hole intersected the typical QES assemblage, collaring in a chlorite-epidote altered diorite and transitioning into a sheared and mineralized sericite-silica-hematite altered granodiorite. This interval returned a wide intercept of 77.5m of 0.54 g/t Au from 203.5m, including 11.4m of 1.24 g/t Au from 208.6m and 7.35m of 1.09 g/t Au from 246.0m. The hole transitioned back to a sericite-chlorite altered diorite with localized meter-scale mineralized shears, returning intercepts of 7.25m of 0.85 g/t Au from 314.75m including 4.25m of 1.34 g/t Au from 314.75m, and 7.0m of 1.40 g/t Au from 333.0m, including 5.2m of 1.71 g/t Au from 333.0m among several other mineralized shears noted in Table 1.
Hole MQD-25-171 was drilled an additional 100m further west of MQD-25-170 near the western edge of the QES Zone. The hole was extended through the QES Zone to test an isolated high-grade pod encountered in historical drilling (hole 90-109: 108m of 1.39 g/t Au from 201m, including 58m of 1.86 g/t Au from 222m, not shown in Figure 2) and is above the intercept in MQD-22-094, which is 25.4m of 1.00 g/t Au from 579.5m. The hole collared into the typical chlorite-epidote altered diorite and transitioned into a strongly sheared and mineralized sericite-silica-hematite altered granodiorite which returned the highest grade x width intersection ever reported by Goldshore of 124.35m of 1.65 g/t Au from 295.0m, including 7.55m of 1.97 g/t Au from 322.3m, 47.0m of 3.08 g/t Au from 336.0m, and 9.05m of 1.32 g/t Au from 407.0m. Parallel shears to this intersection also returned mineralized intervals including 14.0m of 0.63 g/t Au from 254.0m, including 5.0m of 1.14 g/t Au, and 27.6m of 0.68 g/t Au from 469.4m, including 4.5m of 1.16 g/t Au from 478m among several other mineralized shears noted in Table 1.
The broad mineralized intercept is believed to represent a higher-grade mineralized shoot that extends along a distinct, near-horizontal, plunging zone, which will be explored further during the deposit definition drilling program.
Figure 3: High-grade portion of sheared and mineralized granodiorite in MQD-25-171 returning 47.0m of 3.08 g/t Au from 336.0m along the western edge of the QES Zone
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Table 1: Significant intercepts
| HOLE ID | FROM | TO | LENGTH (m) | TRUE WIDTH (m) | CUT GRADE (g/t Au) | UNCUT GRADE (g/t Au) |
| MQD-25-153 | 48.00 | 58.00 | 10.00 | 7.2 | 0.31 | 0.31 |
| 78.55 | 81.65 | 3.10 | 2.3 | 0.37 | 0.37 | |
| 100.00 | 115.00 | 15.00 | 11.0 | 0.36 | 0.36 | |
| 138.40 | 147.00 | 8.60 | 6.3 | 0.53 | 0.53 | |
| incl | 145.00 | 147.00 | 2.00 | 1.5 | 1.03 | 1.03 |
| MQD-25-154 | 107.00 | 117.00 | 10.00 | 7.2 | 0.36 | 0.36 |
| 134.50 | 142.00 | 7.50 | 5.4 | 0.46 | 0.46 | |
| MQD-25-156 | 88.55 | 102.10 | 13.55 | 10.4 | 0.59 | 0.59 |
| incl | 96.90 | 99.00 | 2.10 | 1.6 | 1.17 | 1.17 |
| MQD-25-170 | 75.00 | 78.00 | 3.00 | 2.1 | 1.60 | 1.60 |
| incl | 76.00 | 78.00 | 2.00 | 1.4 | 2.17 | 2.17 |
| 107.00 | 116.00 | 9.00 | 6.4 | 0.42 | 0.42 | |
| 159.00 | 186.00 | 27.00 | 19.4 | 0.34 | 0.34 | |
| 203.50 | 281.00 | 77.50 | 56.4 | 0.54 | 0.54 | |
| incl | 208.60 | 220.00 | 11.40 | 8.2 | 1.24 | 1.24 |
| and | 246.00 | 253.35 | 7.35 | 5.3 | 1.09 | 1.09 |
| 298.00 | 309.00 | 11.00 | 8.1 | 0.55 | 0.55 | |
| 314.75 | 322.00 | 7.25 | 5.3 | 0.85 | 0.85 | |
| incl | 314.75 | 319.00 | 4.25 | 3.1 | 1.34 | 1.34 |
| 333.00 | 340.00 | 7.00 | 5.2 | 1.40 | 1.40 | |
| incl | 333.00 | 338.20 | 5.20 | 3.8 | 1.71 | 1.71 |
| 350.55 | 356.45 | 5.90 | 4.4 | 0.81 | 0.81 | |
| 366.50 | 372.00 | 5.50 | 4.1 | 0.74 | 0.74 | |
| 408.00 | 412.00 | 4.00 | 3.0 | 0.34 | 0.34 | |
| MQD-25-171 | 48.75 | 58.00 | 9.25 | 6.2 | 0.36 | 0.36 |
| 83.00 | 91.00 | 8.00 | 5.4 | 0.54 | 0.54 | |
| 104.00 | 108.00 | 4.00 | 2.7 | 0.37 | 0.37 | |
| 130.00 | 134.00 | 4.00 | 2.7 | 0.45 | 0.45 | |
| 150.00 | 155.25 | 5.25 | 3.6 | 0.47 | 0.47 | |
| 223.00 | 225.00 | 2.00 | 1.4 | 0.42 | 0.42 | |
| 231.10 | 242.00 | 10.90 | 7.6 | 0.49 | 0.49 | |
| 254.00 | 268.00 | 14.00 | 9.8 | 0.63 | 0.63 | |
| incl | 255.00 | 260.00 | 5.00 | 3.5 | 1.14 | 1.14 |
| 274.00 | 288.00 | 14.00 | 9.9 | 0.33 | 0.33 | |
| 295.00 | 419.35 | 124.35 | 89.9 | 1.65 | 1.68 | |
| incl | 298.00 | 303.00 | 5.00 | 3.5 | 1.34 | 1.34 |
| and | 322.30 | 329.85 | 7.55 | 5.4 | 1.97 | 1.97 |
| and | 336.00 | 383.00 | 47.00 | 34.0 | 3.08 | 3.15 |
| incl | 346.75 | 348.80 | 2.05 | 1.5 | 18.6 | 20.2 |
| and | 359.00 | 360.40 | 1.40 | 1.0 | 12.7 | 12.7 |
| and | 375.10 | 376.00 | 0.90 | 0.7 | 18.6 | 18.6 |
| and | 407.00 | 416.05 | 9.05 | 6.7 | 1.32 | 1.32 |
| 432.00 | 434.00 | 2.00 | 1.5 | 0.68 | 0.68 | |
| 469.40 | 497.00 | 27.60 | 20.7 | 0.68 | 0.68 | |
| incl | 478.00 | 482.50 | 4.50 | 3.4 | 1.16 | 1.16 |
| 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 5 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: Drill Collars
| HOLE | EAST | NORTH | RL | AZIMUTH | DIP | EOH |
| MQD-25-153 | 670,048 | 5,379,762 | 428 | 156.3 | -44.1 | 147.00 |
| MQD-25-154 | 669,956 | 5,379,720 | 428 | 158.4 | -49.7 | 156.00 |
| MQD-25-156 | 669,870 | 5,379,683 | 428 | 156.6 | -44.1 | 147.00 |
| MQD-25-170 | 669,802 | 5,379,649 | 427 | 155.0 | -49.8 | 450.00 |
| MQD-25-171 | 669,722 | 5,379,623 | 428 | 155.0 | -49.2 | 501.00 |
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 analysed 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.
Qualified Person
Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.
Mr. Flindell has verified the data disclosed. To verify the information related to the winter drill program at the Moss Gold Project, Mr. Flindell has visited the property several times; discussed and reviewed logging, sampling, bulk density, core cutting and sample shipping processes with responsible site staff; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations. He has also overseen the Company's health and safety policies in the field to ensure full compliance, and consulted with the Project's host indigenous communities on the planning and implementation of the drill program, particularly with respect to its impact on the environment and the Company's remediation protocols.
About Goldshore
Goldshore is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. It is led by the ex-global head of structural geology for the world's largest gold company and backed by one of Canada's pre-eminent private equity firms. The Company's current focus is the advanced stage 100% owned Moss Gold Project which is positioned in Ontario, Canada, with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The Company has invested over $60 million of new capital and completed approximately 80,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 235,000 meters of drilling. The 2024 updated NI 43-101 mineral resource estimate ("MRE") 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. The MRE only encompasses 3.6 kilometers of the 35+ kilometer mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for development in this cycle. Please see NI 43-101 technical report titled: "Technical Report and Updated Mineral Resource Estimate for the Moss Gold Project, Ontario, Canada," dated March 20, 2024 with an effective date of January 31, 2024 available under the Company's SEDAR+ profile at www.sedarplus.ca. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company's website (www.goldshoreresources.com).
For More Information - Please Contact:
Michael Henrichsen
President, Chief Executive Officer and Director
Goldshore Resources Inc.
E: mhenrichsen@goldshoreresources.com
W: www.goldshoreresources.com
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.
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 Gold Project; the potential mineralization at the Moss Gold Project based on the winter drill program, including the potential for additional mineral resources; the enhancement of the Moss Gold Project; statements regarding the Company's future drill plans, including the expected benefits and results thereof; that the Superion target has the potential to significantly add to the current mineral resource estimate within the top 200 meters from surface with continued drilling and to reduce the overall strip ratio of the deposit; the potential for resource growth at Moss and the fact that the results have the potential to significantly impact the economic performance of the deposit moving forward; the potential for a much larger mineralized system and that it will be pursued in the near future through additional drilling; 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: uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; 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; the economic performance of the deposit may not be consistent with management's expectations; the Company's exploration work may not deliver the results expected; the fluctuating price of gold; unknown liabilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company's limited operating history; intervention by non-governmental organizations; outside contractor risks; 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; the Superion target may not add to the current mineral resource; and other risks associated with executing the Company's objectives and strategies as well as those risk factors discussed in the Company's continuous disclosure documents filed under the Company's SEDAR+ profile at www.sedarplus.ca.
The forward-looking information in this news release is based on management's reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold; anticipated costs and the Company's ability to fund its programs; the Company's ability to carry on exploration, development and mining activities; prices for energy inputs, labour, materials, supplies and services; the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company's mineral properties; the timely receipt of required approvals and permits; the costs of operating and exploration expenditures; the Company's ability to operate in a safe, efficient, and effective manner; the Company's ability to obtain financing as and when required and on reasonable terms; that the Company's activities will be in accordance with the Company's public statements and stated goals; that the Superion target will add to the current mineral resource; that the Company's exploration work will deliver the results expected; and that there will be no material adverse change or disruptions affecting the Company or its properties.
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. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. 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.
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SOURCE: Goldshore Resources Inc.
