Goldshore drills 14.6 m of 2.65 g/t Au at Moss Lake

Aug 10, 2022

2022-08-10 08:12 ET – News Release

Mr. Brett Richards reports

GOLDSHORE INTERCEPTS 2.65 G/T AU OVER 14.6M IN 200 M STEP-OUT HOLE AT MOSS LAKE

Goldshore Resources Inc. has released assay results from its continuing, 100,000-metre drill program at the Moss Lake project in Northwest Ontario, Canada.

Highlights:

Four holes drilled to evaluate the eastern extension of the Southwest Zone have confirmed gold mineralization within anastomosing shears in altered diorite with intercepts of:
39.75m at 1.18 g/t Au from 44.25m depth in MMD-22-023:
- Including 14.60m at 2.65 g/t Au from 462.2m.
11.65m at 1.05 g/t Au from 37.35m depth and 18.70m at 1.37 g/t Au from 151.1m in MMD-22-031;
10.00m at 1.05 g/t Au from 290.0m in MMD-22-035.

President and chief executive officer Brett Richards stated: “We are excited to continue to deliver consistent drilling results. I am encouraged about the high-grade sections we are seeing and have shared previously with the market, as this will provide optionality when we model the resource later in the year and start to look at economic pit shells. With this step out hole from historically drilled areas at Moss Lake, it will further increase the optionality.”

Technical Overview

An attached table shows the significant intercepts.

Results have been received for four holes that have tested the previously undrilled eastern extension of the Southwest Zone. They show that mineralization is continuous in several structurally-controlled zones. The Southwest Zone remains open in both the east and west directions.

These holes intersected several broad zones of low-grade mineralization within the altered diorite intrusion host. Examples include 61.85m at 0.84 g/t Au from 440.25m in MMD-22-023; 124.9m at 0.48 g/t Au from 95.1m in MMD-22-027; 64.3m at 0.61 g/t Au from 15.5m and 82.5m at 0.66 g/t Au from 91.95m in MMD-22-031; and 137.65m at 0.37 g/t Au from 184.75m in MMD-22-035 among several 10-20 meter wide zones of low-grade gold mineralization throughout all holes.

All of these low-grade zones occur as envelopes to higher-grade structures. An analysis of oriented core by 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., 39.75m at 1.18 g/t Au from 440.25m in MMD-22-023) and several narrow high-grade intervals, including 0.8m at 33.3 g/t Au from 462.2m in MMD-22-023; 0.3m at 14.3 g/t Au from 172.3m in MMD-22-027; and 0.65m at 15.5 g/t Au from 167.35m in MMD-22-031.

Pete Flindell, VP Exploration for Goldshore, said, “These drill results confirm the potential of the Moss Lake Gold Project. Drilling to test potential expansions to these parallel zones of mineralization will continue into the end of the year.”

Analytical and QA/QC Procedures

All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analyzed for gold via fire assay with an AA finish (“Au-AA23”) and 48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61”). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish (“Au-GRA21”).

In addition to ALS quality assurance / quality control (“QA/QC”) protocols, Goldshore has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Goldshore by Orix Geoscience Inc.

About Goldshore

Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome is currently a large 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.

Peter Flindell, P.Geo., MAusIMM, MAIG, Vice President – Exploration of the Company, a qualified person under NI 43-101 has approved the scientific and technical information contained in this news release.

We seek Safe Harbor.

https://goldshoreresources.com/