Goldshore Resources (GSHR.v GSHRF) CEO, Brett Richards, went on the Proven And Probable Youtube Channel (28.6K subscribers) yesterday to talk about the company and the updated mineral resource estimate it recently released for the Moss Lake Project.
Watch here:
As Richards explains, on November 15th of last year GSHR released a preliminary resource estimate for the Moss Project of just over 4 million ounces at 1.1 grams per ton. GSHR's new estimate is significantly better at 6 million ounces at 1.02 g/t.
3.35 million ounces of this 6 million is at a grade of 1.84 g/t as the project contains multiple high grade shears.
GSHR also released a study on the preliminary metallurgic results for the project which returned 93% recoveries and 98% recoveries at the projects Moss and East Coldstream zones respectively. This is a big jump in recoveries that GSHR has achieved by doing more detailed work.
Regarding the project's lower-grade zones, GSHR is considering using heat bleaching as an extraction method. Currently, it is exploring this option with a company called Kappes Cassiday and also Ausenko who did all of GSHR's metallurgical tests work.
Richards says that even at recoveries of 45% it could be extremely economical to run heat bleaches at this stage.
With all of this positive news, GSHR closed 15% in the green with over 3x its average volume.