Goldshore Resources Inc (TSX-V:GSHR, OTCQB:GSHRF) has announced assay results from eight holes drilled to test gold mineralization at the East Coldstream deposit at its Moss Lake project in northwest Ontario, which included 7.9 metres (m) of 4.2 grams per tonne (g/t) gold from 465m and 25.7m of 2.1 g/t gold from 488m.
The emerging junior gold development company said the results, drilled to better define the gold mineralization of the East Coldstream deposit, have confirmed three broad lenses of gold mineralization within the two main shear zones.
Goldshore shares climbed 18% to $0.235 in early afternoon trading on Monday.
“These first results are extremely encouraging and significant to the overarching strategy of developing a secondary resource to Moss Lake,” Goldshore Resources CEO Brett Richards said in a statement.
READ: Goldshore Resources says drill results confirm high-grade gold mineralization at Ontario Moss Lake project
“The results also point to a second significant project within our land package, which highlights the potential for further discoveries,” Richards added.
Goldshore noted the results show that the three gold mineralized lenses have a clear steep plunge and highlight significant upside potential at depth within structurally controlled shoots.
It added that the drill holes tested the existing mineralized lenses, as well as possible eastern and down-dip extensions.
Results have been received for eight of the initial 17 holes in the first pass drilling program at East Coldstream, according to the company.
Goldshore is an emerging junior gold development company that owns the Moss Lake gold project located in Ontario.
---Updates for share price---
Contact Sean at sean@proactiveinvestors.com