- Goldshore Resources (TSXV:GSHR) updates on resource expansion targets at its Moss Deposit in Ontario
- Targets identified at the deposit have the potential to increase the ounce profile above the current resource and are within the top 200 metres from surface
- The company has identified five targets that represent three avenues for potential mineral resource expansion
- Shares of Goldshore Resources are up 12.12 per cent to $0.37 as of 11:21 am ET
Goldshore Resources (TSXV:GSHR) updates on resource expansion targets at its Moss Deposit in Ontario.
In a news release, the company stated targets identified at the deposit have the potential to increase the ounce profile above the current resource and are within the top 200 metres from surface.
Notably, five targets have been identified that represent three avenues for potential mineral resource expansion.
“We are very pleased with the mineral resource expansion targets that have been delineated which represent an opportunity to not only increase the ounce profile of the Moss Deposit, but to also reduce the overall strip ratio in a potential mining scenario,” Michael Henrichsen, CEO of Goldshore Resources, said in a statement. “We view the drilling of these targets as a critical step to potentially improving the economic performance of the deposit on the back of the [preliminary economic assessment], currently in progress with G Mining Services, being released as we continue to look to add ounces in the top 200 metres from surface.”
Of note, the expansion targets will have the potential to:
- Increase drill density in locations where mineralized drill intercepts are currently too widely spaced to be included in the inferred mineral resource category;
- Extend known mineralized shear zones laterally along strike; and
- Extend mineralized shear zones intersected at depth at the Moss Deposit towards surface where no shallow drilling has occurred
Goldshore Resources is also finalizing a conceptual program of approximately 15,000 metres that would test the expansion targets outlined with the combined goals of expanding the mineral resource estimate within the top 200 metres through increasing drill density, extending known mineralization, and reducing the strip ratio within the conceptual open pit.
Goldshore Resources is focused on the advanced stage of its 100-per-cent-owned Moss Gold Project in Ontario. The company has completed approximately 80,000 metres of drilling on the Moss Gold Project that has, in total, had more than 235,000 metres of drilling. The 2024 updated NI 43-101 MRE has expanded to 1.54 million ounces of indicated gold resources at 1.23 grams per ton (g/t) gold and 5.20 million ounces of inferred gold resources at 1.11 g/t gold.
Shares of Goldshore Resources Inc. (TSXV:GSHR) are up 12.12 per cent to $0.37 as of 11:21 am ET.
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(Top image: Goldshore Resources)