![](https://investorshub.advfn.com/uimage/uploads/2023/3/14/Aspose.Words.030c59d8-3354-4edd-b8eb-804e40dca6c0.001.png)
Goldshore
Intersects
Multiple New Parallel
Shears Increasing Width of QES Zone by Over 100 meters - Including
1.33 g/t Au over 54.45m
VANCOUVER, B.C., Canada
-- March 14, 2023 -- InvestorsHub NewsWire
-- Goldshore Resources Inc.
(TSXV: GSHR / OTCQB: GSHRF / FWB: 8X00)
("Goldshore" or the "Company"), is pleased
to announce
assay results from
its ongoing
100,000-meter drill
program at
the Moss
Lake Project
in Northwest
Ontario, Canada (the
"Moss Gold
Project").
Highlights:
-
Results from seven holes in-filling the QES
Zone have confirmed wide zones of gold
mineralization containing multiple, closely spaced high grade
shears in previously poorly drilled volumes with best
intercepts of:
-
0.86 g/t Au over
120.65m from 593.0m depth in
MQD-22-104, including
-
1.33 g/t Au over
54.45m from 657.0m
-
1.06 g/t Au over 44.3m
from 591.15m depth in MQD-22-099,
including
1.55 g/t Au over 27.1m
from 594.0m
-
0.48 g/t Au over
185.55m from 208.4m depth in
MQD-22-0100, including
-
1.67 g/t Au over 12.75m
from 346.25m
-
0.81 g/t Au over 61.35m
from 614.65m depth in MQD-22-101,
including
-
1.18 g/t Au over 14.65m from
623.35m
-
0.74 g/t Au over 80.95m
from 193.05m depth in MQD-22-102, including
-
1.43 g/t Au over 20.0m
from 246.1m
-
0.71 g/t Au over 77m
from 190.0m depth in MQD-22-103, including
-
1.43 g/t Au over 16.0m
from 203.0m
-
Additionally, these holes intersected parallel
mineralized shears at shallow depths south of the main QES zone
which are open along strike and expand
the cumulative width of the QES Zone by over 100m to
620m. Best intercepts
include:
-
2.23 g/t Au over 11.2m
from 119.05m depth in MQD-22-100
-
5.90 g/t Au over 2.6m
from 91.0m depth in
MQD-22-101
-
2.41 g/t Au over 8.5m
from 112.7m depth in MQD-22-104
President and CEO Brett Richards stated:
"As previously illustrated
throughout the last 12 months of publishing drill results, these
results continue to support our thesis that the size and scale of
the Moss Gold Project will be large enough to support a material
and meaningful update to the mineral resource estimate, which is
expected in April 2023, followed by a preliminary economic
assessment on the updated resource.
We continue to find
additions to the resource on step out holes laterally and along
strike from the historic resource profile, and QES continues to
widen with continued mineralization to be tested to make it even
wider.
We look forward to seeing
the impact of these additions to the resource model."
Technical
Overview
Figure 1 shows the
better intercepts in plan view and Figure 2 is a typical section
through hole MQD-22-100 and -104. Table 1 shows the significant
intercepts. Table 2 shows the drill hole locations.
![](https://investorshub.advfn.com/uimage/uploads/2023/3/14/Aspose.Words.030c59d8-3354-4edd-b8eb-804e40dca6c0.002.png)
Figure 1: Drill plan showing best of several +1 g/t Au intercepts
relative
to the current Mineral Resource and highlighting the additional
shears
![](https://investorshub.advfn.com/uimage/uploads/2023/3/14/Aspose.Words.030c59d8-3354-4edd-b8eb-804e40dca6c0.003.png)
Figure 2: Drill section through MQD-22-100 and -104 relative to the
current Mineral Resource and highlighting the additional shears and
potential to significantly deepen the open pit shell
These most recent results continue to build on
the successful winter infill and expansion program at the QES Zone.
The robust widths and consistent gold grades in all seven holes
provide strong confirmation of the geological interpretation, and
significantly increase the resolution of data in hitherto poorly
defined volumes.
Holes MQD-22-098, -100, -102 and -103 were
focused on closing gaps in the existing drill pattern at shallower
elevations. All four holes intercepted a tightly spaced set of
narrow, high grade shear zones within a broad envelope of strongly
altered granodiorite.
Holes MQD-22-099, -101 and -104 were stepped
back to the southeast to test the deeper portion of the eastern end
of the QES Zone. These holes have defined the true width of the
high- and low-grade mineralized domains in an area of widely spaced
and partially sampled historical drilling. In addition to these
deeper intercepts on the main QES shear zone, all three holes
generated significant high-grade intercepts at shallow depths which
define a series of parallel mineralized shears in sericite-hematite
altered volcanics and narrow diorite intrusive bodies 200m to the
south of the main QES Zone.
![](https://investorshub.advfn.com/uimage/uploads/2023/3/14/Aspose.Words.030c59d8-3354-4edd-b8eb-804e40dca6c0.004.jpeg)
Figure 3: Drill core from 112-123m (1m @ 22.1g/t Au) in MQD-22-100
highlighting a mineralized quartz-rhodochrosite vein within the
sheared, altered intrusion. Note that this photo is not intended to
be representative of broader mineralization on the Moss Lake Gold
Project.
Pete Flindell, VP Exploration for Goldshore,
said "These results confirm our
belief that the Moss Gold deposit is wider and deeper than
previously thought – now filling a 600-700-meter-wide corridor –
and that there are many more shears hosting high-grade gold
mineralization. This will assist our goal of expanding the mineral
resource and improving its quality in April 2023."
Table 1: Significant downhole gold intercepts
HOLEID
|
FROM
|
TO
|
LENGTH (m)
|
TRUE WIDTH
(m)
|
CUT GRADE
(g/tAu)
|
UNCUT
GRADE
(g/tAu)
|
MQD-22-098
|
122.00
|
124.00
|
2.00
|
1.4
|
0.32
|
0.32
|
|
245.00
|
279.80
|
34.80
|
26.3
|
0.65
|
0.65
|
including
|
254.90
|
258.95
|
4.05
|
3.0
|
2.68
|
2.68
|
and
|
269.00
|
273.00
|
4.00
|
3.0
|
1.68
|
1.68
|
|
298.00
|
364.00
|
66.00
|
50.9
|
0.59
|
0.59
|
including
|
307.00
|
315.00
|
8.00
|
6.1
|
1.03
|
1.03
|
|
397.00
|
407.00
|
10.00
|
7.9
|
0.38
|
0.38
|
|
529.00
|
533.00
|
4.00
|
3.3
|
0.37
|
0.37
|
|
|
|
|
|
|
|
MQD-22-099
|
18.00
|
20.00
|
2.00
|
1.3
|
0.45
|
0.45
|
|
183.35
|
205.55
|
22.20
|
15.5
|
0.51
|
0.51
|
|
256.00
|
258.00
|
2.00
|
1.4
|
0.51
|
0.51
|
|
280.00
|
285.00
|
5.00
|
3.6
|
0.32
|
0.32
|
|
294.30
|
309.00
|
14.70
|
10.8
|
0.51
|
0.51
|
|
379.00
|
394.00
|
15.00
|
11.3
|
0.45
|
0.45
|
including
|
382.00
|
385.00
|
3.00
|
2.3
|
1.23
|
1.23
|
|
410.00
|
412.00
|
2.00
|
1.5
|
0.32
|
0.32
|
|
425.00
|
435.50
|
10.50
|
8.0
|
0.33
|
0.33
|
|
461.65
|
469.60
|
7.95
|
6.2
|
0.39
|
0.39
|
|
540.90
|
548.10
|
7.20
|
5.7
|
0.51
|
0.51
|
|
555.90
|
557.95
|
2.05
|
1.6
|
0.38
|
0.38
|
|
576.00
|
579.30
|
3.30
|
2.6
|
0.35
|
0.35
|
|
591.15
|
635.45
|
44.30
|
35.8
|
1.06
|
1.06
|
including
|
594.00
|
621.10
|
27.10
|
21.9
|
1.55
|
1.55
|
|
|
|
|
|
|
|
MQD-22-100
|
99.40
|
104.00
|
4.60
|
2.8
|
0.31
|
0.31
|
|
119.05
|
130.25
|
11.20
|
7.0
|
2.23
|
2.23
|
|
168.05
|
189.85
|
21.80
|
14.1
|
0.54
|
0.54
|
including
|
187.60
|
189.85
|
2.25
|
1.5
|
2.30
|
2.30
|
|
208.40
|
393.95
|
185.55
|
128.7
|
0.48
|
0.48
|
including
|
287.80
|
290.00
|
2.20
|
1.5
|
1.02
|
1.02
|
and
|
310.05
|
314.00
|
3.95
|
2.8
|
1.07
|
1.07
|
and
|
335.00
|
339.90
|
4.90
|
3.5
|
1.13
|
1.13
|
and
|
346.25
|
359.00
|
12.75
|
9.1
|
1.67
|
1.67
|
|
409.00
|
418.00
|
9.00
|
6.7
|
0.36
|
0.36
|
|
436.00
|
456.25
|
20.25
|
15.2
|
0.74
|
0.74
|
including
|
439.00
|
449.00
|
10.00
|
7.5
|
1.09
|
1.09
|
|
496.00
|
500.00
|
4.00
|
3.0
|
0.32
|
0.32
|
|
|
|
|
|
|
|
MQD-22-101
|
91.00
|
93.60
|
2.60
|
1.7
|
5.90
|
5.90
|
|
179.80
|
196.60
|
16.80
|
11.6
|
0.57
|
0.57
|
including
|
192.55
|
194.80
|
2.25
|
1.6
|
2.61
|
2.61
|
|
215.05
|
272.00
|
56.95
|
40.3
|
0.39
|
0.39
|
including
|
231.90
|
234.55
|
2.65
|
1.9
|
1.29
|
1.29
|
|
325.00
|
357.00
|
32.00
|
23.4
|
0.41
|
0.41
|
including
|
345.10
|
347.60
|
2.50
|
1.8
|
1.76
|
1.76
|
|
375.00
|
379.15
|
4.15
|
3.1
|
0.42
|
0.42
|
|
425.85
|
447.00
|
21.15
|
15.9
|
0.31
|
0.31
|
|
464.40
|
467.00
|
2.60
|
2.0
|
0.33
|
0.33
|
|
502.00
|
517.50
|
15.50
|
12.0
|
0.37
|
0.37
|
|
528.00
|
562.20
|
34.20
|
26.7
|
0.48
|
0.48
|
including
|
533.10
|
539.30
|
6.20
|
4.8
|
1.04
|
1.04
|
|
614.65
|
676.00
|
61.35
|
49.5
|
0.81
|
0.81
|
including
|
623.35
|
638.00
|
14.65
|
11.8
|
1.18
|
1.18
|
and
|
643.00
|
657.75
|
14.75
|
11.9
|
1.00
|
1.00
|
and
|
661.80
|
668.00
|
6.20
|
5.0
|
1.50
|
1.50
|
|
710.90
|
714.95
|
4.05
|
3.3
|
0.34
|
0.34
|
|
728.05
|
737.15
|
9.10
|
7.5
|
0.30
|
0.30
|
|
745.80
|
750.00
|
4.20
|
3.5
|
0.48
|
0.48
|
|
|
|
|
|
|
|
MQD-22-102
|
23.80
|
29.50
|
5.70
|
4.1
|
0.34
|
0.34
|
|
166.50
|
170.80
|
4.30
|
3.2
|
0.35
|
0.35
|
|
193.05
|
274.00
|
80.95
|
63.7
|
0.74
|
0.74
|
including
|
205.00
|
209.00
|
4.00
|
3.1
|
1.73
|
1.73
|
and
|
246.10
|
266.10
|
20.00
|
16.0
|
1.43
|
1.43
|
|
291.00
|
298.60
|
7.60
|
6.2
|
0.34
|
0.34
|
|
324.00
|
352.00
|
28.00
|
23.0
|
0.69
|
0.69
|
including
|
329.00
|
334.60
|
5.60
|
4.6
|
2.22
|
2.22
|
|
369.00
|
372.00
|
3.00
|
2.5
|
0.46
|
0.46
|
|
|
|
|
|
|
|
MQD-22-103
|
114.45
|
134.00
|
19.55
|
13.5
|
0.31
|
0.31
|
|
140.05
|
158.00
|
17.95
|
12.6
|
0.41
|
0.41
|
|
168.40
|
178.95
|
10.55
|
7.5
|
0.75
|
0.75
|
|
190.00
|
267.00
|
77.00
|
56.8
|
0.71
|
0.71
|
including
|
203.00
|
219.00
|
16.00
|
11.6
|
1.43
|
1.43
|
and
|
262.10
|
264.65
|
2.55
|
1.9
|
5.10
|
5.10
|
|
279.00
|
284.65
|
5.65
|
4.3
|
1.71
|
1.71
|
including
|
280.35
|
282.95
|
2.60
|
2.0
|
3.21
|
3.21
|
|
435.90
|
449.00
|
13.10
|
10.4
|
0.63
|
0.63
|
|
|
|
|
|
|
|
MQD-22-104
|
112.70
|
121.20
|
8.50
|
5.8
|
2.41
|
2.41
|
|
220.80
|
236.85
|
16.05
|
11.6
|
0.70
|
0.70
|
|
249.00
|
252.20
|
3.20
|
2.3
|
0.47
|
0.47
|
|
290.90
|
296.65
|
5.75
|
4.3
|
0.64
|
0.64
|
|
473.05
|
483.00
|
9.95
|
7.9
|
0.46
|
0.46
|
|
495.80
|
521.00
|
25.20
|
20.1
|
0.31
|
0.31
|
|
533.80
|
557.00
|
23.20
|
18.7
|
0.59
|
0.59
|
including
|
544.00
|
547.00
|
3.00
|
2.4
|
1.52
|
1.52
|
|
568.00
|
575.50
|
7.50
|
6.1
|
0.94
|
0.94
|
|
593.00
|
713.65
|
120.65
|
101.2
|
0.86
|
0.86
|
including
|
614.00
|
628.20
|
14.20
|
11.8
|
1.06
|
1.06
|
and
|
657.00
|
711.45
|
54.45
|
46.1
|
1.33
|
1.33
|
|
726.00
|
731.10
|
5.10
|
4.4
|
0.52
|
0.52
|
|
755.70
|
760.45
|
4.75
|
4.1
|
0.56
|
0.56
|
|
771.05
|
778.85
|
7.80
|
6.7
|
0.31
|
0.31
|
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 10 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: Location of drill holes in this press release
HOLE
|
EAST
|
NORTH
|
RL
|
AZIMUTH
|
DIP
|
EOH
|
MQD-22-098
|
669,829
|
5,379,161
|
431
|
337°
|
-49°
|
651
|
MQD-22-099
|
670,664
|
5,379,431
|
433
|
336°
|
-50°
|
750
|
MQD-22-100
|
670,477
|
5,379,624
|
428
|
335°
|
-55°
|
525
|
MQD-22-101
|
670,606
|
5,379,384
|
441
|
337°
|
-51°
|
750
|
MQD-22-102
|
670,398
|
5,379,573
|
428
|
336°
|
-45°
|
402
|
MQD-22-103
|
670,162
|
5,379,469
|
428
|
336°
|
-50°
|
552
|
MQD-22-104
|
670,528
|
5,379,315
|
441
|
339°
|
-50°
|
801
|
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
analyzed 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.
About
Goldshore
Goldshore is an emerging junior gold
development company, and owns 100% of the Moss Gold Project located
in Ontario. Wesdome is currently a large shareholder of Goldshore
with an approximate 22% 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 Gold Project through the next stages of exploration and
development.
Peter Flindell, P.Geo., MAusIMM, MAIG, Vice
President – Exploration of the Company, a qualified person under NI
43-101 has approved the scientific and technical information
contained in this news release.
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.
For More Information –
Please Contact:
Brett A. Richards
President, Chief Executive Officer and
Director
Goldshore Resources Inc.
P. +1 604 288 4416
M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com
Facebook: GoldShoreRes
|
Twitter: GoldShoreRes |
LinkedIn: goldshoreres
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 Lake Gold
Project, the release of an updated mineral resource estimate and
preliminary economic assessment, 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: 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;
compliance with extensive government regulation; domestic and
foreign laws and regulations could adversely affect the Company's
business and results of operations; 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; and the impact of COVID-19.
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. 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.