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Drill Bit Shows Gold Inside, Outside 2013 Resource Area

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The Quick Take

  • Results of two holes, MMD-21-006 and MQD-21-009, drilled at Goldshore Resources' Moss Lake project in Ontario confirmed the presence of gold mineralization and the gold grades used in the 2013 historical resource.
  • Drilling identified a new high-grade structure, containing gold grades up to 1.42 grams per ton, about 250 meters north of and parallel to the main QES zone.
  • MMD-21-006 and MQD-21-009 are twins of two holes drilled in 1990; the two holes in each set showed similar gold grades and widths.
  • MMD-21-006 demonstrated a main high-grade mineralized zone exists within a larger envelope of lower grade mineralization, at the Main zone's southwestern edge.
  • Goldshore hypothesizes the deposit is significantly larger than the company originally thought it to be.

New drill results from Goldshore Resources Inc.'s (GSHR:TSX; GSHRF:OTC; 8X00:FSE) Moss Lake project confirm mineralization within the historical resource and show significant extensions of mineralization outside of it.

Hole MMD-21-006 was placed near the southwest end of the known Main zone. About 1,600 meters (1,600m) east of this first hole, MQD-21-009 was drilled, in the QES zone.

Drilling of these two holes returned intercepts in the Main zone of 8.15m of 1.1 grams per ton gold (1.1 g/t Au) from 167.05m downhole and 10.8m of 1.57 g/t Au from 248.2m downhole.

As far as comparisons of new gold grades and widths versus historical ones, holes MMD-21-006 and 90-223, respectively, returned 231.9m, 233m of 0.57 g/t, 0.58 g/t at 160m downhole, 167m downhole.

Likewise, the width and gold grade of hole MQD-21-009 were 132m and 0.72 g/t, close to those of twin hole 90-209, which were 128m and 0.74 g/t.

Overall, "assay results continue to confirm the Main and QES zones include wide zones of +1 g/t gold mineralization within a much larger envelope of lower grade gold mineralization," Peter Flindell, vice president of exploration, said in a news release.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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