Goldshore Intersects
Additional High-Grade Shears in the QES Zone at the Moss Lake Gold
Project
VANCOUVER, B.C.,
November 28, 2022: Goldshore Resources
Inc. (TSXV: GSHR / OTCQB: GSHRF / FWB: 8X00)
("Goldshore" or the "Company"), is pleased
to announce
assay results from
its ongoing
100,000-meter drill
program at
the Moss
Lake Project
in Northwest
Ontario, Canada (the
"Moss Lake Gold
Project").
Highlights:
-
Results for seven holes, drilled to expand the
coverage of the high-grade shears in the QES Zone, have
confirmed higher-grade
shear-hosted gold mineralization within a large volume of well
mineralized diorites. These results are all within the $1500
Whittle pit that constrains the current resource and identifies new
high-grade shears. Best intercepts
include:
-
1.51 g/t Au over 6.0m from 502.0m depth in
MQD-22-075 and
-
1.47 g/t Au over 30.1m
from 530.0m
-
8.45 g/t Au over 5.0m
from 576m depth in MQD-22-076 including
-
36.9 g/t Au over 1.0m
from 577m
-
1.87 g/t Au over 6.75m from 602.25m
-
1.31 g/t Au over 14.15m from 544.0m depth in
MQD-22-080
-
2.07 g/t Au over 6.0m from 422.0m depth in
MQD-22-085 and
-
1.07 g/t Au over 15.0m from 457.0m
-
1.26 g/t Au over 7.15m from 573.85m
-
1.07 g/t Au over 24.7m
from 369.0m depth in MQD-22-087 and
-
2.15 g/t Au over 5.0m from 489.0m
-
1.75 g/t Au over 8.05m from 513.95m
-
2.11 g/t Au over 30.75m
from 536.9m including
-
11.5 g/t Au over 3.1m
from 555.2m
-
1.31 g/t Au over 63.6m
from 427.0m depth in MQD-22-090A
-
2.07 g/t Au over 32.0m
from 439.0m
-
A new parallel mineralized
shear structure has been discovered 150m south of the main QES
system containing high grade mineralization within a sheared
intermediate volcanic package with best
intercepts of:
-
3.44 g/t Au over 5.8m
from 246.4m depth in MQD-22-080
-
1.22 g/t Au over 4.0m from 206.0m depth in
MQD-22-087
-
1.15 g/t Au over 7.3m from 75.0m
depth in MQD-22-090A
President and CEO Brett Richards stated:
"The results from these drill
holes in the QES Zone are part of a 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 potentially add to the shear domain component of
the mineral resource that we anticipate will be prioritized in the
mining schedule when we move towards conducting a preliminary
economic analysis next year."
Technical
Overview
Figure 1 shows the
better intercepts in plain view and Figure 2 is a typical section
through hole MQD-22-087. Table 1 shows the significant intercepts.
Table 2 shows the drill hole locations.
Figure 1: Drill plan showing best of several +1 g/t Au intercepts
relative to shear and intrusion domains
Figure 2: Drill section through MQD-22-0087 relative to shear and
intrusion domains
Results have been received for six holes that
have infilled areas of the QES Zone that are between sections
drilled by historic holes with collar survey problems. As a result,
they will replace the low-confidence historic holes in the upcoming
resource model update.
A seventh hole was drilled to the southeast of
the QES Zone to investigate two historical showing along a parallel
structure of the QES Zone but did not intersect significant
mineralization.
As with the historic holes, these holes
intersected several broad zones of low-grade mineralization within
the altered diorite intrusion host. Examples include
0.77 g/t Au over 83m
from 493m depth in MQD-22-075; 0.41 g/t Au over
32.45m from 437.55m and 0.71 g/t Au over 131.1m from
493m in MQD-22-076;
0.54 g/t Au over 102m
from 476m and 0.39 g/t Au over 27.95m from 643m in
MQD-22-080; 0.78 g/t Au over 70m from
419m and 0.50 g/t Au over 28.75m from 521.25m in
MQD-22-085; 0.50 g/t Au over 115.9m from
408.1m in MQD-22-087; and 0.48 g/t Au over 27.45m from
552.05m in MQD-22-090A.
All these low-grade zones occur as envelopes to
higher-grade structures that 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.,
1.31 g/t Au over 63.6m
from 427m depth in MQD-22-090A) and several narrow
high-grade intervals, including 10.1 g/t Au over 0.7m from 545.8m
and 36.9 g/t Au over 1m from
577m in MQD-22-076; 10.0 g/t Au over 1m from 427m in
MQD-22-085; 20.6 g/t Au over 0.9m from
370.65m, 28.3 g/t Au over 0.3m from 540.3m and
11.5 g/t Au over 3.1m
from 555.2m in MQD-22-087; and
19.4 g/t Au over 1.15m
from 455.85m in MQD-22-090A.
An additional parallel shear was discovered
within the intermediate volcanic package approximately 150m south
of the main QES system which contains broad intercepts of low-grade
mineralization including 0.91 g/t over 24.8m from
246.4m in MQD-22-080; 0.33 g/t over 45.7m from 150.0m
in MQD-22-085; 0.42 g/t over 39.0m from 189.0m in MQD-22-087
containing internal higher grade intercepts including
3.44 g/t Au over 5.8m
from 246.4m depth in MQD-22-080; 1.22 g/t Au over
4.0m from 206.0m depth in MQD-22-087; 1.15 g/t Au over 7.3m from
75.0m depth in MQD-22-090A.
Importantly, these intercepts have identified
additional high-grade shears not modelled in the recent Mineral
Resource.
Pete Flindell, VP Exploration for Goldshore,
said "These drill results confirm
high-grade shears that we have modelled at the QES Zone and
confirmed additional shears that we expect to include in the next
mineral resource update early next year."
Table 1: Significant downhole gold intercepts
|
HOLE ID
|
FROM
|
TO
|
LENGTH (m)
|
TRUE WIDTH
(m)
|
CUT GRADE
(g/t Au)
|
UNCUT
GRADE
(g/t Au)
|
|
MQD-22-075
|
243.00
|
264.00
|
21.00
|
15.4
|
0.47
|
0.47
|
|
including
|
254.00
|
256.40
|
2.40
|
1.8
|
1.54
|
1.54
|
|
|
468.00
|
476.90
|
8.90
|
6.8
|
0.45
|
0.45
|
|
|
493.00
|
576.00
|
83.00
|
64.6
|
0.77
|
0.77
|
|
including
|
502.00
|
508.00
|
6.00
|
4.6
|
1.51
|
1.51
|
|
and
|
530.00
|
560.10
|
30.10
|
23.5
|
1.47
|
1.47
|
|
|
595.25
|
610.00
|
14.75
|
11.7
|
0.54
|
0.54
|
|
including
|
596.00
|
599.00
|
3.00
|
2.4
|
1.13
|
1.13
|
|
|
|
|
|
|
|
|
|
MQD-22-076
|
192.00
|
196.00
|
4.00
|
2.8
|
0.46
|
0.46
|
|
|
214.00
|
216.00
|
2.00
|
1.4
|
0.39
|
0.39
|
|
|
355.00
|
358.15
|
3.15
|
2.4
|
0.38
|
0.38
|
|
|
437.55
|
470.00
|
32.45
|
25.0
|
0.41
|
0.41
|
|
including
|
453.00
|
456.70
|
3.70
|
2.9
|
1.52
|
1.52
|
|
|
483.50
|
489.40
|
5.90
|
4.6
|
0.35
|
0.35
|
|
|
493.00
|
624.10
|
131.10
|
103.8
|
0.71
|
0.77
|
|
including
|
545.80
|
546.50
|
0.70
|
0.6
|
10.1
|
10.1
|
|
and
|
576.00
|
581.00
|
5.00
|
4.0
|
7.07
|
8.45
|
|
including
|
577.00
|
578.00
|
1.00
|
0.8
|
30.0
|
36.9
|
|
and
|
602.25
|
609.00
|
6.75
|
5.4
|
1.87
|
1.87
|
|
|
641.00
|
644.00
|
3.00
|
2.4
|
0.46
|
0.46
|
|
|
|
|
|
|
|
|
|
MQD-22-080
|
82.75
|
86.60
|
3.85
|
2.6
|
0.35
|
0.35
|
|
|
131.40
|
143.75
|
12.35
|
8.5
|
0.63
|
0.63
|
|
|
181.30
|
187.80
|
6.50
|
4.6
|
0.40
|
0.40
|
|
|
209.90
|
220.85
|
10.95
|
7.7
|
0.57
|
0.57
|
|
|
246.40
|
271.20
|
24.80
|
17.7
|
0.91
|
0.91
|
|
including
|
246.40
|
252.20
|
5.80
|
4.1
|
3.44
|
3.44
|
|
|
355.00
|
369.00
|
14.00
|
10.2
|
0.57
|
0.57
|
|
including
|
361.70
|
363.70
|
2.00
|
1.5
|
1.67
|
1.67
|
|
|
382.00
|
385.45
|
3.45
|
2.5
|
0.63
|
0.63
|
|
|
398.50
|
401.30
|
2.80
|
2.1
|
0.58
|
0.58
|
|
|
418.00
|
421.00
|
3.00
|
2.2
|
0.54
|
0.54
|
|
|
429.20
|
434.00
|
4.80
|
3.6
|
0.35
|
0.35
|
|
|
458.00
|
460.70
|
2.70
|
2.0
|
0.59
|
0.59
|
|
|
476.00
|
578.00
|
102.00
|
79.7
|
0.54
|
0.54
|
|
including
|
524.00
|
528.00
|
4.00
|
3.1
|
1.32
|
1.32
|
|
and
|
544.00
|
558.15
|
14.15
|
11.2
|
1.31
|
1.31
|
|
|
613.00
|
616.00
|
3.00
|
2.4
|
0.37
|
0.37
|
|
|
624.10
|
633.00
|
8.90
|
7.3
|
0.30
|
0.30
|
|
|
643.00
|
670.95
|
27.95
|
23.1
|
0.39
|
0.39
|
|
|
|
|
|
|
|
|
|
MQD-22-085
|
63.60
|
74.10
|
10.50
|
7.1
|
0.38
|
0.38
|
|
|
116.15
|
118.35
|
2.20
|
1.5
|
1.57
|
1.57
|
|
|
150.00
|
195.70
|
45.70
|
32.2
|
0.33
|
0.33
|
|
|
248.00
|
250.00
|
2.00
|
1.4
|
0.39
|
0.39
|
|
|
256.00
|
258.00
|
2.00
|
1.4
|
0.41
|
0.41
|
|
|
284.80
|
288.05
|
3.25
|
2.4
|
0.91
|
0.91
|
|
including
|
286.00
|
288.05
|
2.05
|
1.5
|
1.30
|
1.30
|
|
|
337.00
|
342.00
|
5.00
|
3.7
|
0.30
|
0.30
|
|
|
362.00
|
371.65
|
9.65
|
7.2
|
0.31
|
0.31
|
|
|
382.45
|
388.00
|
5.55
|
4.1
|
0.30
|
0.30
|
|
|
390.80
|
410.90
|
20.10
|
15.0
|
0.31
|
0.31
|
|
|
419.00
|
489.00
|
70.00
|
53.1
|
0.78
|
0.78
|
|
including
|
422.00
|
428.00
|
6.00
|
4.5
|
2.07
|
2.07
|
|
including
|
427.00
|
428.00
|
1.00
|
0.8
|
10.0
|
10.0
|
|
and
|
443.00
|
446.00
|
3.00
|
2.3
|
1.09
|
1.09
|
|
and
|
457.00
|
472.00
|
15.00
|
11.4
|
1.07
|
1.07
|
|
and
|
481.00
|
485.00
|
4.00
|
3.1
|
2.10
|
2.10
|
|
|
506.00
|
508.00
|
2.00
|
1.5
|
0.67
|
0.67
|
|
|
521.25
|
550.00
|
28.75
|
22.4
|
0.50
|
0.50
|
|
|
573.85
|
581.00
|
7.15
|
5.7
|
1.26
|
1.26
|
|
|
665.20
|
671.55
|
6.35
|
5.1
|
0.35
|
0.35
|
|
|
|
|
|
|
|
|
|
MQD-22-087
|
78.00
|
81.55
|
3.55
|
2.4
|
0.43
|
0.43
|
|
|
92.00
|
109.00
|
17.00
|
11.6
|
0.33
|
0.33
|
|
|
189.00
|
228.00
|
39.00
|
27.3
|
0.42
|
0.42
|
|
including
|
206.00
|
210.00
|
4.00
|
2.8
|
1.22
|
1.22
|
|
|
249.75
|
261.00
|
11.25
|
8.0
|
0.49
|
0.49
|
|
|
289.50
|
298.70
|
9.20
|
6.6
|
0.42
|
0.42
|
|
including
|
294.50
|
296.65
|
2.15
|
1.6
|
1.07
|
1.07
|
|
|
342.00
|
349.65
|
7.65
|
5.6
|
0.40
|
0.40
|
|
|
369.00
|
393.70
|
24.70
|
18.2
|
1.07
|
1.09
|
|
including
|
370.65
|
371.55
|
0.90
|
0.7
|
20.6
|
20.6
|
|
|
408.10
|
524.00
|
115.90
|
87.3
|
0.50
|
0.50
|
|
including
|
425.30
|
429.50
|
4.20
|
3.1
|
1.28
|
1.28
|
|
and
|
489.00
|
494.00
|
5.00
|
3.8
|
2.15
|
2.15
|
|
and
|
513.95
|
522.00
|
8.05
|
6.1
|
1.75
|
1.75
|
|
|
536.90
|
567.65
|
30.75
|
23.6
|
2.11
|
2.11
|
|
including
|
539.55
|
567.65
|
28.10
|
21.6
|
2.23
|
2.23
|
|
including
|
540.30
|
540.60
|
0.30
|
0.2
|
28.3
|
28.3
|
|
and
|
555.20
|
558.30
|
3.10
|
2.4
|
11.5
|
11.5
|
|
|
579.00
|
592.00
|
13.00
|
10.1
|
0.37
|
0.37
|
|
|
628.65
|
634.00
|
5.35
|
4.2
|
0.48
|
0.48
|
|
|
|
|
|
|
|
|
|
MQD-22-090A
|
75.00
|
82.30
|
7.30
|
3.8
|
1.15
|
1.15
|
|
including
|
78.00
|
81.55
|
3.55
|
1.8
|
2.05
|
2.05
|
|
|
94.00
|
98.00
|
4.00
|
2.1
|
0.54
|
0.54
|
|
|
133.00
|
146.00
|
13.00
|
7.0
|
0.35
|
0.35
|
|
|
193.00
|
196.00
|
3.00
|
1.6
|
0.39
|
0.39
|
|
|
227.70
|
230.60
|
2.90
|
1.6
|
0.53
|
0.53
|
|
|
238.55
|
240.85
|
2.30
|
1.3
|
0.42
|
0.42
|
|
|
245.00
|
252.25
|
7.25
|
4.0
|
0.35
|
0.35
|
|
|
287.35
|
292.75
|
5.40
|
3.0
|
0.44
|
0.44
|
|
|
427.00
|
490.60
|
63.60
|
37.7
|
1.31
|
1.31
|
|
including
|
427.00
|
429.00
|
2.00
|
1.2
|
1.10
|
1.10
|
|
and
|
439.00
|
471.00
|
32.00
|
19.0
|
2.07
|
2.07
|
|
including
|
455.85
|
457.00
|
1.15
|
0.7
|
19.4
|
19.4
|
|
|
503.85
|
508.00
|
4.15
|
2.5
|
0.73
|
0.73
|
|
|
519.00
|
541.00
|
22.00
|
13.3
|
0.35
|
0.35
|
|
including
|
525.00
|
527.00
|
2.00
|
1.2
|
1.47
|
1.47
|
|
|
552.05
|
579.50
|
27.45
|
16.8
|
0.48
|
0.48
|
|
including
|
574.00
|
576.00
|
2.00
|
1.2
|
1.14
|
1.14
|
|
Intersections calculated
above at 0.3 g/t Au cut off with a top cut of 30 g/t Au and a
maximum internal waste interval of 10 metres. Shaded intervals are
intersections calculated above a 1.0 g/t Au cut off. Intervals in
bold are those with a grade thickness factor exceeding 20 gram x
metres / tonne gold. True widths are approximate and assume a
subvertical body.
|
Table 2: Location of drill holes in this press release
|
HOLE
|
EAST
|
NORTH
|
RL
|
AZIMUTH
|
DIP
|
EOH
|
|
MQD-22-075
|
670,308
|
5,379,250
|
443
|
336°
|
-47°
|
675.1
|
|
MQD-22-076
|
670,379
|
5,379,296
|
442
|
338°
|
-47°
|
651.0
|
|
MQD-22-080
|
670,462
|
5,379,398
|
450
|
335°
|
-50°
|
675.05
|
|
MQD-22-083
|
670,667
|
5,379,431
|
433
|
156°
|
-50°
|
630.1
|
|
MQD-22-085
|
670,636
|
5,379,537
|
441
|
336°
|
-49°
|
675.0
|
|
MQD-22-087
|
670,546
|
5,379,463
|
449
|
336°
|
-49°
|
675.0
|
|
MQD-22-090A
|
670,654
|
5,379,625
|
429
|
346°
|
-60°
|
606.0
|
|
Approximate collar
coordinates in NAD 83, Zone 15N
|
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 Gold Mines Ltd. 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.
About
the Moss Lake Gold Project
The Moss Lake Gold Project is located
approximately 100 km west of the city of Thunder Bay, Ontario. It
is accessed via Highway 11 which passes within 1 km of the property
boundary to the north. The Moss Lake Gold
Project covers 14,292 hectares and consists of 282 unpatented and
patented mining claims.
The Moss Lake Gold Project hosts a number of
gold and base metal rich deposits including the Moss Lake Deposit
(Table 3), the East Coldstream Deposit (Table 4), the historically
producing North Coldstream Mine (Table 5), and the Hamlin Zone, all
of which occur over a mineralized trend exceeding 20 km in
length.
The Moss Lake Deposit hosts an estimated
inferred mineral resource of 4.17Moz Au (see Goldshore's news
release dated November 15, 2022). A technical report is being
prepared in accordance with National Instrument 43-101
("NI
43-101") and will be available on the Company's
website and SEDAR within 45 days of November 15, 2022.
A historical mineral resource estimate (the
"East Coldstream Historical
Estimate") was completed on the East Coldstream Deposit
in 2011 by Foundation Resources Inc.2,3
The East Coldstream Deposit is a shear-hosted
disseminated-style gold deposit which locally outcrops at surface.
It has been drilled over a 1.3 km length and to depths of 200 m
with 138 holes completed between 1988 and 2017. The deposit remains
largely open at depth and may have the potential for expansion
along strike. Historic drill hole
highlights from the East Coldstream Deposit include 4.86 g/t Au
over 27.3 m in C-10-15.
The historically producing North Coldstream
Mine is reported to have produced significant amounts of copper,
gold and silver4
from mineralization with potential
iron-oxide-copper-gold deposit style affinity. The exploration
potential immediately surrounding the historic mining area is not
currently well understood and historic data compilation is
required.
The Hamlin Zone is a significant occurrence of
copper and gold mineralization, and also of potential
iron-oxide-copper-gold deposit style affinity. Between 2008 and
2011, Glencore tested Hamlin with 24 drill holes which successfully
outlined a broad and intermittently mineralized zone over a strike
length of 900 m. Historic drill hole
highlights from the Hamlin Zone include 0.9 g/t Au and 0.35% Cu
over 150.7 m in HAM-11-75.
The Moss Lake, East Coldstream and North
Coldstream deposits sit on a mineral trend marked by a regionally
significant deformation zone locally referred to as the Wawiag
Fault Zone in the area of the Moss Lake Deposit. This deformation
zone occurs over a length of approximately 20 km on the Moss Lake
Gold Project and there is an area spanning approximately 7 km
between the Moss Lake and East Coldstream deposits that is
significantly underexplored.
Table 3:
Mineral Resource Estimate (Moss Lake Deposit)
1
|
Inferred Resources
(Domains)
|
Tonnes
(Mt)
|
Grade
(g/t Au)
|
Contained Metal (Moz
AU)
|
|
Shear
|
34.7
|
2.0
|
2.20
|
|
Intrusion
|
87
|
0.7
|
1.97
|
|
TOTAL
|
121.7
|
1.1
|
4.17
|
Notes:
(1) The Moss Lake Deposit hosts an estimated
inferred mineral resource of 4.17Moz Au (see Goldshore's news
release dated November 15, 2022). A technical report is being
prepared in accordance with NI 43-101 and will be available on the
Company's website and SEDAR within 45 days of November 15,
2022.
Table 4:
Historical Mineral Resources (East Coldstream Deposit)
2,3
|
|
INDICATED
|
INFERRED
|
|
|
Tonnes
|
Grade (g/t
Au)
|
Oz Au
|
Tonnes
|
Grade (g/t
Au)
|
Oz Au
|
|
East Coldstream
Total
|
3,516,700
|
0.85
|
96,400
|
30,533,000
|
0.78
|
763,276
|
Notes:
(2) Source: McCracken, T. "Technical Report
and Resource Estimate on the Osmani Gold Deposit, Coldstream
Property, Northwestern Ontario", prepared for Foundation Resources
Inc. and Alto Ventures Ltd. The East Coldstream
Historical Estimate is based on a 0.4 g/t Au cut-off grade. The
qualified persons for the East Coldstream Historical Estimate are
Todd McCracken, P.Geo. (Tetratech Wardrop), and Jeff Wilson, Ph.D.,
P.Geo. (Tetratech Wardrop), and the effective date of the East
Coldstream Historical Estimate is December 12, 2011. Resources are
presented unconstrained, undiluted and in situ. The East Coldstream
Historical Estimate includes 2 gold-bearing zones. A cut-off grade
of 0.4 g/t Au was selected as the official resource cut-off grade.
The East Coldstream Historical Estimate is based on 116 diamond
drill holes drilled from 1986 to 2011. A fixed density of 2.78
g/cm3 was used. Capping was established at 5.89 g/t Au and 5.70 g/t
Au for domains EC-1 and EC-2, respectively. This is supported by
statistical analysis and the high grade distribution within the
deposit. Compositing was done on drill hole sections falling within
the mineralized zone solids (composite = 1 m). Resources were
evaluated from drill hole samples using the ID2 interpolation
method in a multi-folder percent block model using Datamine Studio
3 version 3.20.5321.0. Resource categorization is based on spatial
continuity based from the variography of the assays within the
drillholes. Ounce (troy) = metric tons x grade / 31.10348.
Calculations used metric units (metres, tonnes and g/t). The number
of metric tonnes was rounded to the nearest thousand. Any
discrepancies in the totals are due to rounding effects; rounding
followed the recommendations in NI 43-101.
(3) The reader is cautioned that the East
Coldstream Historical Estimate is considered historical in nature
and as such is based on prior data and reports prepared by previous
property owners. The reader is cautioned not to treat it, or any
part of it, as current mineral resources or reserves. The Company
has determined this historical resource is reliable, and relevant
to be included here in that it demonstrates simply the mineral
potential of the Moss Lake Gold Project. A qualified person has not
done sufficient work to classify the East Coldstream Historical
Estimate as a current resource and Goldshore is not treating the
East Coldstream Historical Estimate as a current resource.
Significant data compilation, re-drilling, re-sampling and data
verification may be required by a qualified person before the East
Coldstream Historical Estimate can be classified as a current
resource. There can be no assurance that any of the historical
mineral resources, in whole or in part, will ever become
economically viable. In addition, mineral resources are not mineral
reserves and do not have demonstrated economic viability. Even if
classified as a current resource, there is no certainty as to
whether further exploration will result in any inferred mineral
resources being upgraded to an indicated or measured mineral
resource category. The East Coldstream Historical Estimate relating
to inferred mineral resources was calculated using prior mining
industry standard definitions and practices for estimating mineral
resource and mineral reserves. Such prior definitions and practices
were utilized prior to the implementation of the current standards
of the Canadian Institute of Mining for mineral resource
estimation, and have a lower level of confidence.
Table 5:
Reported Historical Production (North Coldstream Deposit)
4
|
Deposit
|
Tonnes
|
Cu %
|
Au g/t
|
Ag
|
Cu lbs
|
Au oz
|
Ag oz
|
|
Historical Production
|
2,700,0000
|
1.89
|
0.56
|
5.59
|
102,000,000
|
44,000
|
440,000
|
Note:
(4) Source: Schlanka, R., 1969. Copper,
Nickel, Lead and Zinc Deposits of Ontario, Mineral Resources
Circular No. 12, Ontario Geological Survey, pp. 314-316.
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.
Neither the TSXV nor its
Regulation Services Provider (as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy or
accuracy of this release.
For More Information –
Please Contact:
Brett A. Richards
President, Chief Executive Officer and
Director
Goldshore Resources Inc.
P. +1 604 288 4416
M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com
Facebook: GoldShoreRes
|
Twitter: GoldShoreRes |
LinkedIn: goldshoreres
Cautionary Note
Regarding Forward-Looking Statements
This news release contains statements that
constitute "forward-looking statements." Such forward looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the Company's actual results, performance or
achievements, or developments to differ materially from the
anticipated results, performance or achievements expressed or
implied by such forward-looking statements. Forward looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects,"
"plans," "anticipates," "believes," "intends," "estimates,"
"projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should"
occur.
Forward-looking statements in this news release
include, among others, statements relating to expectations
regarding the exploration and development of the Moss Lake Gold
Project, plans to conduct a preliminary economic assessment and
timing thereof, updating the mineral resource estimates, the filing
of a technical report to support the mineral resource estimate at
the Moss Lake Deposit, and other statements that are not historical
facts. By their nature, forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
our actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such factors and risks include, among
others: the Company may require additional financing from time to
time in order to continue its operations which may not be available
when needed or on acceptable terms and conditions acceptable;
compliance with extensive government regulation; domestic and
foreign laws and regulations could adversely affect the Company's
business and results of operations; the stock markets have
experienced volatility that often has been unrelated to the
performance of companies and these fluctuations may adversely
affect the price of the Company's securities, regardless of its
operating performance; the ongoing military conflict in Ukraine;
and other risk factors outlined in the Company's public disclosure
documents.
The forward-looking information contained in
this news release represents the expectations of the Company as of
the date of this news release and, accordingly, is subject to
change after such date. Readers should not place undue importance
on forward-looking information and should not rely upon this
information as of any other date. The Company undertakes no
obligation to update these forward-looking statements in the event
that management's beliefs, estimates or opinions, or other factors,
should change.