Goldshore Resources Inc (TSX-V:GSHR, OTCQB:GSHRF) has announced gold assay results from holes MMD-21-006 and MQD-21-009, which it said continue to validate gold mineralization from the Moss Lake Gold Deposit in northwest Ontario.
"As we have previously reported, we continue to produce drill results that confirm the historical resource estimate modeled in 2013, and significant extensions outside of the historical resource,” said Goldshore CEO Brett Richards in a statement.
“As well, we are discovering additional parallel zones that we think will improve the project economics by replacing waste material in a design pit with mineralized blocks. The fact that we are continuing to intersect gold mineralization outside of the volume modeled in 2013 also affirms our belief that the deposit is significantly larger than previously interpreted," he added.
READ: Goldshore Resources says assay results from Moss Lake Deposit project in Ontario suggest new parallel zone
The company noted a new parallel zone was indicated to the north of QES Zone, as drilling confirmed the grades within the 2013 resource model and identified a second high-grade structure approximately 250 meters (m) north of the model.
High-grade mineralized intercepts include: 52.85m @ 1.35 grams per tone (g/t) gold (Au) from 194.0m; 7.85m @ 1.18 g/t Au from 607.0m; and 9.0m @ 1.42 g/t Au from 638.0m.
Goldshore also said that the twin holes confirm historic drill results. A comparison between the two sets of twin holes, based on geological rather grade intervals, shows a good comparison between gold grades and interval widths:
- 231.9m @ 0.57 g/t Au from 160m (MMD-21-006) versus 233.0m @ 0.58 g/t Au from 167m (90-223)
- 132.0m @ 0.72 g/t Au from 141 meters (MQD-21-009) versus 128.0m @ 0.74 g/t Au from 164 meters (90-209)
The company also said there are continued high-grade structures at Main Zone. One main high-grade mineralized zone occurs within a larger envelope of +0.3 g/t Au mineralization at the southwestern edge of the Main Zone in MMD-21-006, including: 8.15m @ 1.10 g/t Au from 167.05m; 29.5m @ 1.19 g/t Au from 199.0m; and 10.8m @ 1.57 g/t Au from 248.2m.
Goldshore said the results from MQD-21-009 (HQ) and 90-209 (NQ) compare favorably and suggest that sampling issues are less important than the local grade variations that are expected in gold deposits.
A comparison based on geological rather than grade intervals shows that the main altered and mineralization diorite contains 132.0m @ 0.72 g/t Au from 141m in MQD-21-009 and 128.0m @ 0.74 g/t Au from 164m in 90-209.
"Assay results continue to confirm the Main and QES Zones include wide zones of +1 g/t Au mineralization within a much larger envelope of lower grade gold mineralization,” said Peter Flindell, vice president of exploration at Goldshore.
“Drilling was shut down over a 2-week Christmas/New Year period and we have restarted drilling operations with four rigs on site. As we get through the difficult operating environment of the winter months with lower production levels; we should be able to accelerate production levels back to normal daily / monthly operating levels later in the spring," he added.
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