Goldshore drills 1.03 g/t gold over 152 metres at Moss Lake, Ontario

Goldshore Resources Inc. [GSHR-TSXV; SSHRF-OTCQB; 8X00-FWB] reported assay results from its continuing 100,000-metre drill program at the 100%-owned Moss Lake project in Northwestern Ontario, Canada.

Highlights: Results for seven holes, drilled to infill the western part of the QES Zone, have confirmed and extended closely spaced higher-grade gold mineralized structures within a large volume of mineralized diorite. The holes were drilled to infill a sparsely tested volume at 300 to 500 meters vertical depth over a 500-metre strike length. These results improve the resolution of modelled shears and will potentially facilitate the expansion of pit-constrained mineral resource in this volume.

Best intercepts include (from East to West): 1.03 g/t gold over 152.0 metres from 464.0 metres depth in MQD-22-072, including 1.03 g/t gold over 10.25 metres from 466.7 metres, 1.27 g/t gold over 8.55 metres from 478.95 metres, and 1.76 g/t gold over 61 metres from 514 metres; 0.95 g/t gold over 130.85 metres from 436.15 metres depth in MQD-22-070, including 1.37 g/t gold over 41.75 metres from 451.25 metres, and 1.40 g/t gold over 29.0 metres from 518 metres; 0.61 g/t gold over 137.0 metres from 501.0 metres depth in MQD-22-092, including 2.67 g/t gold over 3.65 metres from 511.3 metres, 1.76 g/t gold over 6.0 metres from 568 metres, and 1.22 g/t gold over 8.7 metres from 625 metres, 0.64 g/t gold over 153.2 metres from 521.0 metres, including

1.32 g/t gold over 8.65 metres from 533 metres, 1.19 g/t gold over 9.0 metres  from 557 metres, and 1.00 g/t gold over 24.5 metres from 579.5 metyres.

Hole MQD-22-094 collared in a new high-grade shear zone to the south of the QES Zone that is believed to be an extension of the historic Boundary Zone. This is one of many parallel shears that remains to be fully tested; 1.94 g/t gold over 11.3 metres from 1.7 metres in MQD-22-094.

President and CEO Brett Richards stated: “The results from these drill holes in the QES Zone are part of the 52-hole data set that was not included in the recent mineral resource estimate. They confirm our belief that there are additional high-grade shear zones within the deposit that will add to the shear domain component of the mineral resource that we anticipate will be prioritized in the mining schedule when we conduct our preliminary economic analysis this year.”

Results have been received for seven holes that have infilled a poorly drilled volume of the QES Zone over a strike length of 500 meters and at a depth of 300 to 500 metres. This corresponds to the base of the constraining pit shell to the 2022 mineral resource and is an addition of drill data 100-200 metres beneath most of the drilling in the area.

The results confirm the geological interpretation that multiple higher-grade shears are hosted within a greater volume of low-grade intrusion host and that this model extends at depth. The addition of structural data at depth and along strike will allow for improved modelling of the shear system and increased confidence in the mineralization, which should allow for an expansion of the Mineral Resource in this area.

Pete Flindell, VP Exploration for Goldshore, said: “These drill results confirm the high-grade shears that we have modelled at the QES Zone and show that there are additional shears that we can model ahead of the next mineral resource update. This should all work together to add to the pit constrained mineral resource.”

Wesdome Gold Mines Ltd. [WDO-TSX; WDOFF-OTCQX] is currently a large shareholder of Goldshore with an approximate 23% equity position in Goldshore.

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