Vancouver, British Columbia--(Newsfile Corp. - May 15, 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 results of the follow-up drilling on the recently discovered, near-surface, mineralized zone at the Superion target, north of the QES zone at the Moss Gold Project in Northwest Ontario, Canada (the "Moss Gold Project").
Michael Henrichsen, CEO of Goldshore commented, "We are pleased to see Superion emerge as a high-grade zone, near surface, that sits on the northern margin of the conceptual open pit. With multiple intercepts into the mineralized structure, we have gained valuable knowledge of its orientation and believe we will be able to expand the zone significantly along strike. The Company has completed the 20,000-meter drill program with an additional 18 drill holes to be reported over the coming weeks."
Highlights:
Results from a follow-up fence of holes surrounding the MQD-25-148 intercept (17.6m of 3.03 g/t Au from 76.4m) as reported in the Company's news release dated on March 3, 2025, have increased the strike length of the new zone to over 100 meters, which remains open in all directions. Best intercepts include:
9.45m of 6.02 g/t Au from 186.0m in MQD-25-175, including
2.45m of 22.2 g/t Au from 193.0m
13.0m of 2.30 g/t Au from 117.0m in MQD-25-176, including
3.0m of 9.00 g/t Au from 124.0m, and
10.0m of 1.17 g/t Au from 144.0m including
4.0m of 2.67 g/t Au from 149.0m
3.5m of 2.72 g/t Au from 41.4m in MQD-25-177, including
0.4m of 9.67 g/t Au from 43.0m, and
3.0m of 3.54 g/t Au from 242.0m, including
1.0m of 7.28 g/t Au from 242.0m
Exploratory holes drilled across the largely untested area east of Superion intersected numerous mineralized shears similar in nature to marginal shears surrounding the Moss deposit, including:
0.3m of 5.37 g/t Au from 224.2m in MQD-25-146, and
2.25m of 1.17 g/t Au from 248.75m
4.06m of 1.08 g/t Au from 140.65m in MQD-25-149
0.3m of 5.86 g/t Au from 55.85m in MQD-25-163
0.9m of 11.9 g/t from 143.0m in MQD-25-168
Technical Overview
Figure 1 shows the location of the drill holes being reported with respect to the planned winter drill program, while Figure 2 illustrates a cross section through drill holes MQD-25-175 and MQD-25-177. Tables 1 & 2 summarize significant intercepts and drill hole locations, respectively.
Figure 1: Summarizes the ongoing winter 2025 drill program targeting 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-25-175 and MQD-25-177 illustrating additional mineralized shears near the pit shell edge on the northern side of the QES Zone
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Drill results reported herein are from the Superion drill program, targeting a significant and largely untested area of swampy terrain northeast of the Moss deposit. Drilling aimed to identify new zones of mineralization within the northern part of the existing conceptual open pit.
Holes MQD-25-146, MQD-25-174, MQD-25-175, MQD-25-176, and MQD-25-177 were drilled as 50-meter step outs behind and along strike of the recently discovered mineralized shear in MQD-25-148 (17.6m of 3.03 g/t Au from 76.4m) as reported in the Company's news release dated March 3, 2025.Each hole intersected a similar package of largely undeformed epidote-chlorite altered diorite containing 2-3% disseminated pyrite with localized strong sericite-silica altered shears containing numerous, highly deformed, cm-scale quartz carbonate veinlets and 3-5% pyrite-chalcopyrite mineralization.
Multiple parallel shears, often spaced 25 to 50 meters apart, have been intersected with mineralization returning higher grade intercepts of 9.45m of 6.02 g/t Au from 186.0m in MQD-25-175, including 2.45m of 22.2 g/t Au from 193.0m (Figure 3) and 9.0m of 2.30 g/t Au from 117.0m in MQD-25-176, including 3.0m of 9.00 g/t Au from 124.0m. Lesser mineralized intercepts include 3.35m of 0.93 g/t Au from 248.15m in MQD-25-146, including 2.25m of 1.17 g/t Au from 248.75m; 0.7m of 3.57 g/t Au from 350.3m in MQD-25-175; and 3.50m of 2.72 g/t Au from 41.4m in MQD-25-177, including 2.75m of 3.33 g/t Au from 42.15m.
Oriented core measurements collected during the logging process indicate that this shear system trends roughly east-west and coincides with the deeper high-grade intercepts in MQD-22-014 (16.0m of 2.69 g/t Au from 477m, including 5.25m of 7.87 g/t from 477.75m) as reported in the Company's news release dated May 5, 2022. This implies significant room for the mineralized system to grow through further drilling.
Figure 3: Sericite-silica altered and pyrite-chalcopyrite bearing shears in MQD-25-175 returning 9.45m of 6.02 g/t Au from 186.0m as part of the Superion program following up on MQD-25-148.
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Holes MQD-25-149 and MQD-25-150 were drilled approximately 160 meters east of MQD-25-148, testing the up-dip extensions of deeper shears intersected in previous drilling. The holes intersected the same undeformed epidote-chlorite altered diorite body as noted above, with similar sericite-silica altered and sulphide-bearing shear zones. Shearing is of a lesser intensity than that intersected around the core of the Superion discovery and returned intercepts of 4.06m of 1.08 g/t Au from 140.65m in MQD-25-149 and 5.0m of 0.44 g/t Au from 132.0m in MQD-25-150. The wide spacing of drill holes means that zones of stronger shearing may still be present in the area.
Holes MQD-25-161, MQD-25-162, MQD-25-163, MQD-25-164, and MQD-25-168 were drilled on 100- to 200-meter spacings further to the northeast to evaluate a large area of swampy terrain northeast of the Moss deposit that has been mostly untested by previous exploration campaigns. All holes intersected the same undeformed epidote-chlorite altered multiphase diorite body that hosts shears at Superion in addition to narrow, Superion-style, sericite-silica altered shear zones with variable sulphide mineralization. These shears returned high-grade gold-bearing intercepts over narrow widths such as 0.3m of 5.86 g/t Au from 55.85m in MQD-25-163 and 0.9m of 11.9 g/t from 143.0m in MQD-25-168.
Given the broad spacing, a large area of 250 meters by 1,000 meters remains poorly tested and likely contains additional untested shears. Additional drill holes will be planned for later in the year following a thorough analysis of oriented core data and the distribution of the different diorite intrusion phases.
Table 1: Significant intercepts
| HOLE ID | FROM | TO | LENGTH (m) | TRUE WIDTH (m) | CUT GRADE (g/t Au) | UNCUT GRADE (g/t Au) |
| MQD-25-146 | 160.00 | 163.00 | 3.00 | 2.2 | 0.44 | 0.44 |
| 224.20 | 230.00 | 5.80 | 4.3 | 0.39 | 0.39 | |
| incl | 224.20 | 224.50 | 0.30 | 0.2 | 5.37 | 5.37 |
| 248.15 | 251.50 | 3.35 | 2.5 | 0.93 | 0.93 | |
| incl | 248.75 | 251.00 | 2.25 | 1.7 | 1.17 | 1.17 |
| MQD-25-149 | 140.65 | 144.71 | 4.06 | 3.2 | 1.08 | 1.08 |
| 109.95 | 113.65 | 3.70 | 2.7 | 0.35 | 0.35 | |
| 132.00 | 137.00 | 5.00 | 3.7 | 0.44 | 0.44 | |
| 190.00 | 194.00 | 4.00 | 3.0 | 0.38 | 0.38 | |
| MQD-25-150 | 109.95 | 113.65 | 3.70 | 2.7 | 0.35 | 0.35 |
| 132.00 | 137.00 | 5.00 | 3.7 | 0.44 | 0.44 | |
| 190.00 | 194.00 | 4.00 | 3.0 | 0.38 | 0.38 | |
| MQD-25-161 | 115.50 | 116.70 | 1.20 | 0.9 | 1.02 | 1.02 |
| MQD-25-162 | 203.00 | 205.00 | 2.00 | 1.4 | 0.36 | 0.36 |
| MQD-25-163 | 55.85 | 56.15 | 0.30 | 0.2 | 5.86 | 5.86 |
| MQD-25-164 | No significant intercepts | |||||
| MQD-25-168 | 143.00 | 143.90 | 0.90 | 0.6 | 11.9 | 11.9 |
| 175.50 | 180.00 | 4.50 | 2.9 | 0.36 | 0.36 | |
| MQD-25-174 | 333.00 | 334.00 | 1.00 | 0.7 | 3.06 | 3.06 |
| 350.30 | 351.30 | 1.00 | 0.7 | 3.57 | 3.57 | |
| MQD-25-175 | 186.00 | 195.45 | 9.45 | 6.7 | 6.02 | 6.02 |
| incl | 193.00 | 195.45 | 2.45 | 1.7 | 22.2 | 22.2 |
| 226.00 | 231.00 | 5.00 | 3.6 | 0.32 | 0.32 | |
| MQD-25-176 | 117.00 | 130.00 | 13.00 | 9.0 | 2.30 | 2.30 |
| incl | 124.00 | 127.00 | 3.00 | 2.1 | 9.00 | 9.00 |
| incl | 124.00 | 126.00 | 2.00 | 1.4 | 12.9 | 12.9 |
| 144.00 | 154.00 | 10.00 | 6.9 | 1.17 | 1.17 | |
| incl | 149.00 | 153.00 | 4.00 | 2.8 | 2.67 | 2.67 |
| 182.00 | 185.50 | 3.50 | 2.4 | 0.46 | 0.46 | |
| 219.00 | 222.00 | 3.00 | 2.1 | 0.45 | 0.45 | |
| MQD-25-177 | 41.40 | 44.90 | 3.50 | 2.4 | 2.72 | 2.72 |
| incl | 42.15 | 44.90 | 2.75 | 1.9 | 3.33 | 3.33 |
| incl | 43.00 | 43.40 | 0.40 | 0.3 | 9.67 | 9.67 |
| 109.90 | 113.35 | 3.45 | 2.4 | 0.76 | 0.76 | |
| 215.00 | 218.00 | 3.00 | 2.1 | 0.93 | 0.93 | |
| 242.00 | 245.00 | 3.00 | 2.1 | 3.54 | 3.54 | |
| incl | 242.00 | 243.00 | 1.00 | 0.7 | 7.28 | 7.28 |
| 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-25-146 | 669,851 | 5,380,005 | 428 | 155.0 | -45.0 | 258.00 |
| MQD-25-149 | 670,016 | 5,380,050 | 428 | 155.0 | -45.0 | 251.95 |
| MQD-25-150 | 670,055 | 5,379,981 | 428 | 155.0 | -45.0 | 210.00 |
| MQD-25-161 | 670,353 | 5,380,089 | 428 | 154.9 | -46.1 | 234.00 |
| MQD-25-162 | 670,590 | 5,380,352 | 429 | 155.3 | -45.5 | 300.00 |
| MQD-25-163 | 670,235 | 5,380,051 | 428 | 155.0 | -46.6 | 201.00 |
| MQD-25-164 | 670,354 | 5,380,247 | 428 | 155.1 | -50.2 | 255.00 |
| MQD-25-168 | 670,783 | 5,380,442 | 428 | 155.0 | -49.8 | 252.00 |
| MQD-25-174 | 669,912 | 5,380,013 | 428 | 156.0 | -48.8 | 354.00 |
| MQD-25-175 | 669,812 | 5,379,961 | 429 | 154.0 | -49.3 | 336.00 |
| MQD-25-176 | 669,941 | 5,379,939 | 428 | 155.2 | -49.0 | 288.00 |
| MQD-25-177 | 669,867 | 5,379,892 | 428 | 155.0 | -49.0 | 252.00 |
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 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 ("Au-AA23") and 48 pathfinder elements via ICP-MS after four-acid digestion ("ME-MS61"). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish ("Au-GRA21").
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.
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. 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 $60 million of new capital and completed approximately 80,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 235,000 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.
E: mhenrichsen@goldshoreresources.com
W: www.goldshoreresources.com
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; that the Superion target has the potential to significantly add to the current mineral resource estimate within the top 200 meters from surface with continued drilling and to reduce the overall strip ratio of the deposit; 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; the Superion target may not add to the current mineral resource; 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 Superion target will add to the current mineral resource; 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.
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SOURCE: Goldshore Resources Inc.
