Goldshore Intersects 42.7m of 1.09 g/t Au at the Eastern QES Zone of the Moss Deposit

Globe and Mail

03-07-2025

Vancouver, British Columbia--(Newsfile Corp. - July 3, 2025) - Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (" Goldshore" or the " Company") is pleased to announce its latest assay results from its completed 20,000-meter drill program and the final results from the QES Up zone targeting the near surface extension of the most northern QES shears at the Moss Gold Project in Northwest Ontario, Canada (the " Moss Gold Project"). The drilling targeted the eastern side of the QES zone to confirm thickening of mineralization and its orientation.
Michael Henrichsen, CEO of Goldshore, commented, "We're pleased with the continued positive results from the winter drilling with follow-up holes at the QES Zone intersecting wide intercepts of gold mineralized structure with some shears providing higher mineralization closer to surface. These results further support the potential for this region to support rapid payback in the early years of mining. This successful winter program sets the stage for our recently announced 50,000-meter drill program, focused on further resource expansion (29,000 meters) and grade control drilling (21,000 meters) which will ultimately set the stage for the infill drill program in 2026."
Highlights:
Results from two drill holes, which infilled significant drilling gaps in the QES Zone, intersected multiple wide intervals of gold-mineralized shear zones. The results confirmed the splaying of the QES zone into multiple shears on the eastern edge of the QES Zone with best intercepts of:
42.7m of 1.09 g/t Au from 241.6m in MQD-25-155, including
20.0m of 1.77 g/t Au from 246.0m, and
2.3m of 1.98 g/t Au from 282.0m, and
46.05m of 0.60 g/t Au from 290.0m, including
8.0m of 1.46 g/t Au from 309.0m
31.9m of 0.95 g/t Au from 231.2m in MQD-25-157, including
15.1m of 1.53 g/t Au from 233.4m, and
47.4m of 0.58 g/t Au from 271.6m, including
5.4m of 1.44 g/t Au from 272.0m, and
3.9m of 1.05 g/t Au from 310.3m
Additionally, both holes confirmed the near surface extensions of deeper marginal shears along the northern edge of the QES Zone with some shears returning higher grade mineralization closer to surface with best intercepts of:
9.45m of 0.73 g/t Au from 156.0m in MQD-25-155, including
5.0m of 1.03 g/t Au from 159m
4.6m of 1.07 g/t Au from 30.4m in MQD-25-157, and
19.0m of 0.42 g/t Au from 43.0m, and
11.7m of 1.48 g/t Au from 102.0m, including
9.75m of 1.71 g/t Au from 103.0m, and
22.0m of 0.74 g/t Au from 154.0m, including
6.9m of 1.72 g/t Au from 154.4m
Technical Overview
Figure 1 shows the location of the drill holes being reported with respect to the completed winter drill program, while Figure 2 illustrates a cross section through drill hole MQD-25-157. Tables 1 & 2 summarize significant intercepts and drill hole locations, respectively.
Figure 1: Summarizes the completed winter 2025 drill program, which targeted resource expansion within the conceptual open pit outlined in grey. Drill holes being reported are highlighted in red.
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Figure 2: Cross section through MQD-25-157 illustrating the mineralized core shears in the QES Zone, as well as the extension of marginal shears toward surface on the northern flank of the QES Zone (QES Up).
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MQD-25-155 and MQD-25-157 were both drilled to test the QES Up target, which aims to prove the extension toward surface of deeper-modelled mineralized shear zones along the northern boundary of the QES Zone. The area targeted lies entirely within the conceptual open pit with all mineralized intersections representing opportunities to convert currently modelled waste to mineral resource. Both holes were extended through the entirety of the QES Zone, where they infilled gaps in the existing drilling. MQD-25-159 targeted a potential northern splay off the primary QES zone.
Holes MQD-25-155 and MQD-25-157 were drilled 100m apart targeting surface extensions of deeper-modelled mineralized shear zones along the northern boundary of the QES Zone. They are the two most eastern holes of the QES Up program. MQD-25-155 collared into a weakly deformed and chlorite-epidote altered diorite quickly transitioning to a sericite-silica-chlorite dominated alteration with localized 1-2% pyrite-chalcopyrite bearing, sericite-silica-hematite altered shears increasing in intensity and depth. MQD-25-157 collared directly into the sericite-silica-chlorite packages. The sericite-silica-hematite altered shears are moderately mineralized with intercepts including 9.45m of 0.73 g/t Au from 156.0m, including 5.0m of 1.03 g/t Au from 159m in MQD-25-155; and 4.6m of 1.07 g/t Au from 30.4m, 19.0m of 0.42 g/t Au from 43.0m, 11.7m of 1.48 g/t Au from 102.0m, including 9.75m of 1.71 g/t Au from 103.0m, and 22.0m of 0.74 g/t Au from 154.0m, including 6.9m of 1.72 g/t Au from 154.4m in MQD-25-157 (Table 1).
Both holes were extended into the QES namesake quartz eye granodiorite with pervasive sericite-silica-hematite alteration cut by shears hosting 3-5% pyrite-chalcopyrite mineralization. These shears host wide intercepts including 42.7m of 1.09 g/t Au from 241.6m, including 20.0m of 1.77 g/t Au from 246.0m and 2.3m of 1.98 g/t Au from 282.0m, 46.05m of 0.60 g/t Au from 290.0m, including 8.0m of 1.46 g/t Au from 309.0m, and 10.15m of 0.62 g/t Au from 421.0m in MQD-25-155; and 31.9m of 0.95 g/t Au from 231.2m, including 15.1m of 1.53 g/t Au from 233.4m, 47.4m of 0.58 g/t Au from 271.6m, including 5.4m of 1.44 g/t Au from 272.0m, 3.9m of 1.05 g/t Au from 310.3m, 3.25m @ 2.60 g/t Au from 392.5m, and 15.4m of 0.53 g/t Au from 413.3m in MQD-25-157. Additional minor lower grade shears are outlined in Table 1.
MQD-25-159 was drilled an additional 300m northeast of MQD-25-177 targeting a potential splay of the QES Zone. The hole collared into the typical northern epidote-chlorite altered diorite with infrequent local sericite-silica shearing. These local shears were anomalous for gold but were too sporadically spaced to create reportable intervals. The hole was extended to intersect the sericite-silica-hematite QES granodiorite to confirm the orientation of the lithological domain which was intersected at 258.4m after which the hole was terminated in mineralization. The hole intersected several 5-10 meter wide, 2-3% pyrite bearing shears, that returned low grade mineralized intercepts including 4.40m of 0.55 g/t Au from 261.45m and 4.45m of 0.43 g/t Au from 293.1m.
Figure 3: Sheared and mineralized granodiorite in MQD-25-155 returning 20.0m of 1.77 g/t Au from 246m along the eastern edge of the QES Zone.
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Table 1: Significant intercepts
HOLE ID FROM TO LENGTH
(m) TRUE WIDTH
(m) CUT GRADE
(g/t Au) UNCUT GRADE
(g/t Au)
MQD-25-155 48.00 50.00 2.00 1.4 0.57 0.57
156.00 165.45 9.45 6.9 0.73 0.73
incl 159.00 164.00 5.00 3.6 1.03 1.03
222.00 225.00 3.00 2.2 0.35 0.35
228.00 231.35 3.35 2.5 0.59 0.59
241.60 284.30 42.70 31.7 1.09 1.09
incl 246.00 266.00 20.00 14.8 1.77 1.77
and 282.00 284.30 2.30 1.7 1.98 1.98
290.00 336.05 46.05 34.5 0.60 0.60
incl 309.00 317.00 8.00 6.0 1.46 1.46
354.25 357.65 3.40 2.5 0.43 0.43
372.25 374.35 2.10 1.6 0.32 0.32
379.05 383.80 4.75 3.6 0.46 0.46
390.00 392.25 2.25 1.7 0.49 0.49
404.95 408.00 3.05 2.3 0.37 0.37
421.00 431.15 10.15 7.7 0.62 0.62
441.00 448.60 7.60 5.8 0.51 0.51
MQD-25-157 30.40 35.00 4.60 3.1 1.07 1.07
43.00 62.00 19.00 12.8 0.42 0.42
77.40 84.00 6.60 4.5 0.35 0.35
102.00 113.70 11.70 8.0 1.48 1.48
incl 103.00 112.75 9.75 6.7 1.71 1.71
133.00 142.00 9.00 6.2 0.33 0.33
154.00 176.00 22.00 15.3 0.74 0.74
incl 154.40 161.30 6.90 4.8 1.72 1.72
186.10 190.50 4.40 3.1 0.47 0.47
203.40 224.00 20.60 14.4 0.48 0.48
231.20 263.10 31.90 22.4 0.95 0.95
incl 233.40 248.50 15.10 10.6 1.53 1.53
incl 239.00 239.75 0.75 0.5 16.5 16.5
271.60 319.00 47.40 33.7 0.58 0.58
incl 272.00 277.40 5.40 3.8 1.44 1.44
and 310.30 314.20 3.90 2.8 1.05 1.05
334.50 340.50 6.00 4.3 0.37 0.37
358.25 361.40 3.15 2.3 0.34 0.34
375.50 377.70 2.20 1.6 0.35 0.35
380.00 382.50 2.50 1.8 0.46 0.46
392.50 395.75 3.25 2.4 2.60 2.60
incl 394.80 395.30 0.50 0.4 15.4 15.4
413.30 428.70 15.40 11.4 0.53 0.53
MQD-25-159 261.45 265.85 4.40 3.3 0.55 0.55
293.10 297.55 4.45 3.3 0.43 0.43
Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 5 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: Drill Collars
HOLE EAST NORTH RL AZIMUTH DIP EOH
MQD-25-155 670,282 5,379,941 427 156.1 -49.9 450.00
MQD-25-157 670,372 5,379,985 428 155.7 -50.0 447.10
MQD-25-159 670,566 5,380,206 428 155.0 -44.4 300.00
Analytical and QA/QC Procedures
The HQ diameter drill core has been oriented using ACTIII or equivalent tools and validated in the core shack. All core has been sawed in half cut just off the core orientation line (bottom of hole) with the right half (looking down hole) of the core bagged and sent to a third-party analytical laboratory. The left half of the core was returned to core boxes and is stored at Goldshore's Kashabowie core yard facility.
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 analysed for gold via fire assay with an AA finish and 48 pathfinder elements via ICP-MS after four-acid digestion. Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish.
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.
Investor Awareness and Marketing Agreement
The Company has retained Bluehand Consulting AG (" Bluehand") to provide ongoing digital media marketing services. Bluehand will work to facilitate investor awareness about the Company and its gold exploration projects. Bluehand will be paid EUR 200,000 to develop required content and for advertising. The term of this agreement shall be effective as of July 1, 2025 and will end on July 31, 2025. The budget allocated to Bluehand may be adjusted during the term based on market conditions and Company requirements, and the agreement may be renewed upon mutual agreement. The Company will not issue any securities to Bluehand in consideration for the services. Neither Bluehand, nor Matthias Oberli, the authorized individual of Bluehand, have any prior relationship with the Company and the Company deals at arm's length with both Bluehand and Mr. Oberli. Additionally, neither Bluehand nor Mr. Oberli have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. Contact information for Bluehand is as follows: email: [e-mail]; mailing address: Bartholoméplatz 3, 7310 Bad Ragaz, Switzerland; phone: [phone].
Qualified Person
Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.
Mr. Flindell has verified the data disclosed in this news release. To verify the information related to the winter drill program at the Moss Gold Project, Mr. Flindell has visited the property several times; discussed and reviewed logging, sampling, bulk density, core cutting and sample shipping processes with responsible site staff; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations. He has also overseen the Company's health and safety policies in the field to ensure full compliance, and consulted with the Project's host indigenous communities on the planning and implementation of the drill program, particularly with respect to its impact on the environment and the Company's remediation protocols.
About Goldshore
Goldshore is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. It is led by the ex-global head of structural geology for the world's largest gold company and backed by one of Canada's pre-eminent private equity firms. The Company's current focus is the advanced stage 100% owned Moss Gold Project which is positioned in Ontario, Canada, with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The Company has invested over $75 million of new capital and completed approximately 100,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 255,000 meters of drilling. The 2024 updated NI 43-101 mineral resource estimate (" MRE") has expanded to 1.54 million ounces of Indicated gold resources at 1.23 g/t Au and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au. The MRE only encompasses 3.6 kilometers of the 35+ kilometer mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for development in this cycle. Please see NI 43-101 technical report titled: "Technical Report and Updated Mineral Resource Estimate for the Moss Gold Project, Ontario, Canada," dated March 20, 2024 with an effective date of January 31, 2024 available under the Company's SEDAR+ profile at www.sedarplus.ca. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company's website (www.goldshoreresources.com).
For More Information - Please Contact:
Michael Henrichsen
President, Chief Executive Officer and Director
Goldshore Resources Inc.
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.
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 Gold Project; the potential mineralization at the Moss Gold Project based on the winter drill program, including the potential for additional mineral resources; the enhancement of the Moss Gold Project; statements regarding the Company's future drill plans, including the expected benefits and results thereof; the potential for resource growth at Moss and the fact that the results have the potential to significantly impact the economic performance of the deposit moving forward; the potential for a much larger mineralized system and that it will be pursued in the near future through additional drilling; 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: uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; 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; the economic performance of the deposit may not be consistent with management's expectations; the Company's exploration work may not deliver the results expected; the fluctuating price of gold; unknown liabilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company's limited operating history; intervention by non-governmental organizations; outside contractor risks; 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; and other risks associated with executing the Company's objectives and strategies as well as those risk factors discussed in the Company's continuous disclosure documents filed under the Company's SEDAR+ profile at www.sedarplus.ca.
The forward-looking information in this news release is based on management's reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold; anticipated costs and the Company's ability to fund its programs; the Company's ability to carry on exploration, development and mining activities; prices for energy inputs, labour, materials, supplies and services; the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company's mineral properties; the timely receipt of required approvals and permits; the costs of operating and exploration expenditures; the Company's ability to operate in a safe, efficient, and effective manner; the Company's ability to obtain financing as and when required and on reasonable terms; that the Company's activities will be in accordance with the Company's public statements and stated goals; that the Company's exploration work will deliver the results expected; and that there will be no material adverse change or disruptions affecting the Company or its properties.
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. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. 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.