Mining
Tuesday, September 17th, 2024 3:52 pm EDT
Key Points
- Resource Expansion Targets: Goldshore Resources Inc. has identified five key targets within the top 200 meters from surface at the Moss deposit, which are either within or adjacent to the current conceptual open-pit shell. These targets are aimed at increasing drill density, extending mineralized shear zones laterally, and extending mineralization from depth toward the surface.
- Drilling Program: The company plans to execute a 15,000-meter drilling program to test these expansion targets. This program aims to enhance the mineral resource estimate (MRE) within the top 200 meters, extend known mineralization, and potentially reduce the strip ratio of the conceptual open pit.
- Strategic Importance: CEO Michael Henrichsen highlighted that the expansion targets could significantly increase the deposit’s ounce profile and improve the economic performance of the Moss deposit, which is crucial for the ongoing Preliminary Economic Assessment (PEA) by G Mining Services.
Goldshore Resources Inc. has provided an update on resource expansion targets at the Moss deposit. The identified targets are located within the top 200 metres (m) from surface and are within, or directly adjacent to, the conceptual open-pit shell defined in the company’s current mineral resource estimate (MRE). Collectively, there are five targets that have been defined that represent three avenues for potential mineral resource expansion:
- Strategic infill to increase drill density in locations where mineralized drill intercepts are currently too widely spaced to be included in the inferred mineral resource category;
- Extending known mineralized shear zones laterally along strike;
- Extending mineralized shear zones intersected at depth at the Moss deposit toward surface where no shallow drilling has occurred.
Michael Henrichsen, chief executive officer of Goldshore, commented: “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. 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 PEA, currently in progress with G Mining Services, being released as we continue to look to add ounces in the top 200 m from surface.”
The company is finalizing a conceptual program of approximately 15,000 metres that would test the expansion targets outlined with the combined goals of expanding the MRE within the top 200 m through increasing drill density, extending known mineralization and reducing the strip ratio within the conceptual open pit. A summary of the targets is presented below:
- The Superion and QES Up targets represent an opportunity to add ounces by extending mineralization toward surface in the top 200 m over a roughly 1.5 kilometres (km) and one km strike length respectively within and immediately adjacent to the conceptual open pit.
- The Southern Main target is similar to the QES Up target where drilling in the top 50 to 200 m from surface will aim to extend mineralization over an area of 400 m by 100 m.
- The Southwest Infill and QES extension targets focus on areas spanning 800 metres and 400 metres, respectively, where drill density was insufficient for inclusion in the current mineral resource estimate.
Mineral resources that are not mineral reserves have no demonstrated economic viability. There is no guarantee that any part of the mineral resources discussed herein will be converted to a mineral reserve in the future. The estimate of mineral resources may also be materially affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing or other relevant issues.
Qualified person
Peter Flindell, PGeo, MAusIMM, MAIG, vice-president, exploration, of the company, and a qualified person under National Instrument 43-101, has approved the scientific and technical information contained in this news release.
About Goldshore Resources Inc.
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 1 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.
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