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Goldshore Resources says assay results from Moss Lake Deposit project in Ontario suggest new parallel zone

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Goldshore Resources Inc (TSX-V:GSHR, OTCQB:GSHRF) has announced gold assay results from the Main Zone of the Moss Lake Deposit in Northwest Ontario, Canada. 

The Vancouver, British Columbia-based exploration company said that the results suggest a new parallel zone to the southeast that has not been previously tested.

“The intersection of several +1 grams per ton (g/t) gold (Au) zones, essentially from surface, reaffirms our view that the Moss Lake Gold Project contains a significant volume of +1 g/t Au mineralization that can underpin a meaningful update to the historic 2013 preliminary economic assessment later this year,” said Brett Richards, CEO of Goldshore in a statement.

He added: “The fact that we are continuing to intersect gold mineralization outside of the volume modeled in 2013, also affirms our belief that the deposit is significantly larger than previously interpreted.”

READ: Goldshore Resources reports significant assay results from Moss Lake gold project in Ontario

The high-grade mineralized structures intersected at Main Zone occur within a larger envelope of +0.3 g/t Au mineralization. The highlights included 36.75 meters (m) at 1.27 g/t Au from 37.5m, 8m at 3.51 g/t Au from 80m, 11m at 1.23 g/t Au from 242 m, and 37m at 1.09 g/t Au from 268m.

The new parallel zone mineralization, which was intersected in a second altered diorite intrusion, suggest that the Main Zone is 200 meters or 48% wider than the 420m width modeled in 2013. 

High-grade mineralized intercepts include 12m at 1.15 g/t Au from 695m and 32m at 1.55 g/t Au from 769m.

Goldshore noted that step-out drilling has begun testing targets aiming to expand the deposit beyond the strike of the current mineralization envelope. This drilling will run concurrently with the resource development drilling of the main deposit.

“Drilling of the Main Zone continues to prove up the large volume of mineralized diorite intrusion, likely within an anticlinal axis, that is cut by several higher-grade structures hosted our +1 g/t Au intercepts,” said Peter Flindell, Goldshore vice president, Exploration. “The discovery of a second, parallel mineralized intrusion is encouraging and highlights the potential to expand the volume of mineralized material in the Moss Lake Gold Deposit.”

The Moss Lake Gold Project is located approximately 100 kilometers (km) west of the city of Thunder Bay, Ontario. It is accessed via Highway 11 which passes within 1 km of the property boundary to the north. The Moss Lake Gold Project covers 14,292 hectares and consists of 282 unpatented and patented mining claims. 

Contact Ritika at [email protected]

Story by ProactiveInvestors


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