Excerpt from Stockwatch Gold-Today Brett Richards's Goldshore Resources Inc. (GSHR) fell one-half cent to 18 cents on 163,000 shares on word it has drilled a 46.1-metre true-width interval averaging 1.33 grams of gold per tonne at Moss Lake in Northwestern Ontario. The hit, from one of seven new holes drilled into the QES zone, was the best of the lot but several other holes yielded longer intervals -- just not with the same grade. One hole averaged 0.48 gram per tonne over a 128.7-metre true width, while a 56.8-metre width in another hole delivered 0.71 gram per tonne.
Mr. Richards, president and CEO, cheered that the new assays, just like those received over the past year, "continue to support our thesis that the size and scale of the Moss gold project will be large enough to support a material and meaningful update to the mineral resource estimate." That update, he says, is expected in April, and from there the company will begin work on a preliminary economic assessment.
"We look forward to seeing the impact of these additions to the resource model," Mr. Richards concludes, and so too are his backers, wearied by Goldshore's stock having zigzagged lower from the 98-cent mark since the company reorganized itself in mid-2021 as a reincarnation of the moribund Sierra Madre Developments Inc. Last fall, Goldshore declared a resource estimate of 121.7 million tonnes inferred at Moss Lake averaging 1.1 grams of gold per tonne, about 4.17 million ounces of gold.