Goldshore Resources Inc (TSX-V:GSHR, OTCQB:GSHRF) has announced assay results from its ongoing 100,000-meter drill program at the Moss Lake Project in Northwest Ontario, Canada.
Drilling is aiming to better define high-grade structural zones within the Moss Lake deposit. Results have been received for three holes that have infilled areas of the Main Zone that are between sections drilled by historic holes with collar survey problems.
In a statement, Goldshore president and CEO, Brett Richards, commented: "We continue to receive results that confirm the developing model that high grades occur within broader envelopes of lower grade gold mineralization. Our understanding of the geology is now at a level that will enable us to accurately represent the position of high grades within a resource model we are aiming to produce by the end of the year."
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The company said three holes drilled to evaluate gaps in the Main Zone have confirmed high-grade gold mineralization within anastomosing shears hosted by low-grade mineralized altered diorite, with highlight intercepts of:
- 13.30 metres (m) @ 1.49 grams per ton (g/t) gold (Au) from 48.6m depth in MMD-22-028
- 21.20m @ 1.66 g/t Au from 187.7m
- 3.50m @ 10.7 g/t Au from 349.6m
- 17.00m @ 1.28 g/t Au from 50.0m depth in MMD-22-030
- 6.30m @ 2.00 g/t Au from 358.7m, including
- 7.70m @ 1.40 g/t Au from 533.3m depth in MMD-22-032
- 6.00m @ 1.93 g/t Au from 570.0m
- MMD-20-32 also extended across the Main Zone to confirm the recently identified southern parallel zone with best intercepts of:
- 9.60m @ 1.02 g/t Au from 805.9m
- 10.00m @ 1.21 g/t Au from 825.0m
The holes were only constrained by the 500m vertical depth limit being applied to all holes in this program. As with the historic holes, these holes intersected several broad zones of low-grade mineralization within the altered diorite intrusion host. Examples include 74.95m @ 0.58 g/t Au from 40.35m, 55.0m @ 0.88 g/t Au from 182.0m and 44.2m @ 0.8 g/t Au from 342.9m in MMD-22-028; 81.55m @ 0.51 g/t Au from 7.0m and 117.55m @ 0.38 g/t Au from 336.0m in MMD-22-030; and 81.45m @ 0.50 g/t Au from 528.55m in MMD-22-032. All of these low-grade zones occur as envelopes to higher-grade structures.
An analysis of oriented core by renowned structural geologist, Dr Brett Davis, confirmed that these form a three-dimensional, anastomosing shear network that has developed in response to strain on the altered diorite intrusion. Results include the broad zones of +1 g/t Au mineralization shown in the highlights (e.g., 21.2m @ 1.66 g/t Au from 187.7m in MMD-22-028) and several narrow high-grade intervals, including 0.4m @ 61.5 g/t Au from 349.6m and 0.6m @ 13.6 g/t Au from 352.5m in MMD-22-028; and 0.4m @ 14.7 g/t Au from 363.55m in MMD-22-030.
The high-grade near-surface intercepts in MMD-22-028 and MMD-22-030 extend previously defined high-grade mineralization to surface.
MMD-22-032 also extended across the altered diorite into the wall rock to test the southern parallel zone. This broad zone of low-grade mineralization (51.85m @ 0.60 g/t Au from 805.9m) occurs around the higher-grade structures listed in the highlights.
Pete Flindell, VP Exploration for Goldshore, said: "The recent structural geology review by Dr Brett Davis has helped resolve the theories we have been developing for the genesis of the Moss Lake gold deposit. Our improved understanding will guide the upcoming geological modelling exercise. Specifically, we will model a 3D anastomosing shear network that hosts the higher grades in the deposit and direct the geometry of the lower grade haloes. This is a significant step forward as the historic resource model ignores high-grade gold mineralization."
Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome is currently a strategic shareholder of Goldshore with an approximate 27% 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 Lake Gold Project through the next stages of exploration and development.
Contact the author at jon.hopkins@proactiveinvestors.com