Goldshore Resources Inc (TSX-V:GSHR, OTCQB:GSHRF) (Goldshore Resources Inc (TSX-V:GSHR, OTCQB:GSHRF), Goldshore Resources Inc (TSX-V:GSHR, OTCQB:GSHRF)) revealed promising gold assay results from holes MMD-21-004 and MMD-21-005 drilled to validate gold mineralization at the Moss Lake gold deposit in northwest Ontario, Canada.
The Vancouver-based company’s Moss Lake Gold project located 100 kilometers (km) west of the city of Thunder Bay covers 14,292 hectares and has several gold and base metal deposits including the Moss Lake Deposit, the East Coldstream Deposit, the historically producing North Coldstream Mine and the Hamlin Zone, all of which occur over a mineralized trend exceeding 20 km in length.
The company highlighted several higher-grade zones within a large low-grade envelope with best intercepts of 117.12 meters (m) at 1.26 grams per tonne (g/t) gold (Au) from 1.1m in MMD-21-004, including 42.53m at 1.37 g/t Au from 1.1m, 17.00m at 2.40 g/t Au from 57m, and 26.22m at 1.63 g/t Au from 92m.
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In addition, Goldshore intersected 23.45 m at 1.54 g/t Au from 302.85m in MMD-21-004, 8.50m at 2.53 g/t Au from 42.5m, and 16.50m at 1.26 g/t Au from 139.5m in MMD-21-005.
The emerging junior gold development company said mineralization continues to be intersected laterally and at depth, significantly expanding the width and depth of mineralization compared to its 2013 grade model. “MMD-21-004 has extended the width and depth of mineralization, relative to the 2013 model, by 38% and 56%, respectively,” said the company.
In a statement, Goldshore CEO Brett Richards said: "The drilling intercept of 117.12m at 1.26 g/t Au, essentially from surface, reaffirms our view that the Moss Lake gold project contains a significant volume of +1 g/t Au mineralization that can underpin a meaningful, economic gold deposit.”
“The fact that we are continuing to intersect gold mineralization outside of the volume modelled in 2013 also affirms our belief that the deposit is wider and larger than previously interpreted," he added.
Goldshore believes it is too soon to develop conceptual models for the deposit, although the company said it is working with leading researchers in the field of orogenic gold deposits to develop its understanding of the deposit.
"These drilling results confirm the caliber of results received since the start of the drilling program and confirm the significant widths of higher grade, +1 g/t Au mineralization,” said Peter Flindell, VP Exploration at Goldshore Resources.
“Our plan to expand the drilling fleet over winter will allow us to reach our targeted monthly meterage of 10,000m and allow us to test extensions to Moss Lake suggested by our airborne geophysical survey, as well as infill the gold deposit to support next year's Preliminary Economic Analysis," he added.
Meanwhile, the company's drilling contractor, Missinaibi Drilling Services, has mobilized two additional drilling rigs to the site, bringing the total active rigs to four. “An additional rig is expected on site before Christmas,” said the company.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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