Goldshore Resources (TSXV: GSHR; OTCQB: GSHRF) has updated the resource estimate for its Moss and East Coldstream deposits at its Moss project in northwest Ontario, roughly 100 km northwest of Thunder Bay. It now counts 1.5 million contained oz. of gold in the indicated resource and 5.2 million contained oz. in the inferred resource. The project is 100% owned by the company.
The drill program was designed to upgrade the resource categories, which was done successfully. The indicated resource is now 39.0 million tonnes grading 1.23 g/t gold, and the inferred resource is 146.2 million tonnes grading 1.11 g/t gold.
The new numbers represent a 1% increase in tonnage, but the overall grade increased by 11%. The earlier resource estimate (May 2023) included 6 million oz. in material grading 1.02 g/t gold. The next step is to complete a preliminary economic assessment.
The Moss project includes several targets along a 35-km mineralized trend. Neat the centre of the trend, the former North Coldstream mine produced 103 million lb. of copper, 44,000 oz. of gold, and 440,000 oz. of silver. The East Coldstream and Moss deposits are mentioned above. The remaining targets are known as Hamlin, Vanguard, and Iris.
Additional details are available in the corporate presentation on www.GoldshoreResources.com.
April 25, 2024
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