Goldshore Resources Inc (TSX-V:GSHR, OTCQB:GSHRF) has announced that it is applying a new innovative technique to its exploration efforts at the Moss Lake project in Ontario to help it rate and rank targets at the property for drilling.
The company said it had partnered with Russell Birrell of Globex to implement his innovative ionic leach soil sampling technique to detect bedrock anomalies beneath muskeg swamp and glacial till.
Initial sampling will be conducted across known mineralization at the QES zone of the property to calibrate the geochemical response and enable a more accurate assessment of results in new areas.
READ: Goldshore Resources intersects significant high-grade gold mineralization at Moss Lake project in Ontario
Goldshore vice president exploration Peter Flindell noted that he had previously worked with Birrell and the ionic leach technique in Scotland where they successfully identified several mineralized targets.
He noted that the ionic leach technique was well suited to the type of cover at Moss Lake.
“The ionic leach program will continue throughout the 2022 summer field season and focus on the targets developed from last year's VTEM/magnetics survey,” Flindell said.
“This will help us to rank and rate all targets, and to prioritize the scout drilling program, outside the historical Moss Lake deposit."
Financing closes
Meanwhile, the company said it has closed a non-brokered private placement of 1 million units at the price of $0.50 per unit, with gross proceeds of $500,000.
The company intends to use the financing for future exploration work at Moss Lake and for general working capital purposes.
Goldshore Resources is a junior gold development company that is advancing the Moss Lake gold project in northwest Ontario through exploration and development.
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