Goldshore Resources Inc.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome Gold Mines Ltd. is currently a strategic shareholder of Goldshore with an approximate 27% equity position in the Company. Well-financed and supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Lake Gold Project through the next stages of exploration and development.

Projects in Hand

Moss Lake Gold Project, Ontario

The Moss Lake Gold Project is located approximately 100 km west of the city of Thunder Bay, Ontario, and is accessed via Highway 11. The Moss Lake Gold Project covers 14,292 hectares and consists of 282 unpatented and patented mining claims. Moss Lake has extensive infrastructure to support potential district scale mining camp.

Moss Lake hosts a number of gold and base metal rich deposits including the Moss Lake Deposit, the East Coldstream Deposit, the historically producing North Coldstream Mine, and the Hamlin Zone, all of which occur over a mineralized trend exceeding 20 km in length. The Moss Lake Gold Project also hosts a number of under-explored mineral occurrences which are reported to exist both at surface and in historically drilled holes.

Moss Lake has 1.47 million ounces of Indicated and 2.51 million ounces of Inferred historical gold resources on the property.

• Moss Lake offers year-round exploration in a highly prospective area in Ontario with significant upside resource potential
• Under-drilled gold asset with infill and expansion drilling necessary
• 20+ km long mineral trend with multiple other mineralized zones and targets ready for follow-up
• Multiple geological occurrences on land package
• Moss Lake – shear-hosted disseminated-style gold deposit
• East Coldstream – shear-hosted disseminated-style gold deposit
• North Coldstream – iron-oxide-copper-gold (IOCG) style deposit
• Hamlin Lake – iron-oxide-copper-gold (IOCG) style deposit
• Extensive historical exploration work already completed on the property with plans for accelerated development.
• Recent VTEM (versatile time domain electromagnetic) survey reveals 29 undrilled high priority targets and expands prospectivity
• Strike Length for Moss Lake targets expanded from 2.5 km to 11 km
• An active drill program with impactful results

Moss Lake Historical Drill Hole Highlights

Moss Lake Deposit

• 108,000 m in 376 holes between 1983 and 2017
• 1.44 g/t Au over 72.8 m (89-172)
• 1.19 g/t Au over 163.1 m (87-101)
• 1.30 g/t Au over 178.6 m (87-100)

Iris Lake Prospect

• 5,600 m scout drilling in 2011
• 11.4 g/t Au over 7.9 m (IL-11-02)
• 254 g/t Au over 0.5 m (IL-11-12)
• 1.28 g/t Au over 29.7 m (IL-11-20)

East Coldstream Deposit

• 38,000 m in 139 holes between 1988 and 2017
• 4.86 g/t Au over 27.3 m (C-10-15)
• 1.12 g/t Au over 111.3 m (C-10-16)

Hamlin Lake Zone

• 9,000 m in 26 holes between 2008 and 2011
• 0.90 g/t Au and 0.35% Cu over 150.7 m (HAM-11-74)

Moss Lake Exploration Potential

• 20+ km Moss Lake Trend remains highly prospective
• 8 km zone of induced polarization (IP) anomalies marks the prospective trend around the Moss Lake Deposit
• 7 km of the trend between Moss Lake and East Coldstream deposits significantly underexplored
• Multiple gold occurrences ready for follow up work

Investment Highlights

• The Moss Lake Property, located in Ontario, has a historical resource with significant expansion potential
• Low risk jurisdiction of Ontario which is a major global gold producer with a rich mining history
• Untapped exploration upside – project has a 1.47M oz Au (Indicated) and 2.51M oz Au (Inferred) historical Mineral Resource with multiple targets on a +20 km mineral trend on the project
• Active 100,000-metre drill program and additional exploration activities
• Drilling focused on three key deposits along a +20 km mineral trend
• Targeting an updated multi-million ounce gold resource with significant growth potential
• Multiple copper and gold targets indicated by airborne geophysics. Future potential for Cobalt and Copper
• Strong management, technical team and board with deep experience and track record of value creation
• Attractive valuation, tight share structure, and significant leverage to rising gold prices
• $50M raised in the last 18 months

Management

Management and Directors

Brett Richards, CEO and Director

Over 34 years of experience in mining and metals including mine financing, mine development, senior level operations and M&A.

Led Banro Corp. through an operational transition as a private company to divest certain assets

Former transition CEO of Roxgold (TSX:ROXG) and former senior executive of Katanga Mining (TSX:KAT)

Former senior executive positions with Kinross Gold (TSX:K) and Co-Steel (TSX:CEI)

Peter Flindell, Vice President of Exploration

35 years of experience in mineral exploration and feasibility studies

Led teams to discover, develop and expand several gold and copper mines in Southeast Asia, Central Asia, West Africa, Central Africa, Europe and Central America.

Additional experience in base metal and iron ore projects

12 years with Newmont Mining, 11 years with Avocet Mining and 8 years with Signal Delta.

Marlis Yassin, CPA, CA, CFO

Over 15 years experience working with companies in various sectors, including mining, technology, and industrial products

Held senior finance management positions at various public companies

Galen McNamara, Chairman

Entrepreneur and Geologist with extensive discovery and capital markets experience over 15 years

CEO and Director of Summa Silver Corp. (TSXV:SSVR)

Chairman of Angold Resources Inc. (TSXV:AAU)

Co-winner 2018 PDAC Bill Dennis “Prospector of the Year” Award and 2016 Mines and Money Exploration Award

Doug Ramshaw, Director

President and Director of Minera Alamos (TSXV:MAI)

Director of Great Bear Resources (TSXV:GBR)

Brandon Macdonald, Director

Current CEO and Director of Fireweed Zinc Ltd. (TSXV:FWZ)

Shawn Khunkhun, Director

Current CEO and Director of Dolly Varden Silver Corp. (TSXV:DV)

Victor Cantore, Director

Currently the President and CEO of Amex Exploration (TSXV:AMX)

Joanna Pearson, Director

Current CFO of Endeavour Mining Corporation

Michael Michaud, Wesdome Board Rep

Currently VP, Exploration at Wesdome Gold Mines (TSX:WDO)

Heather Laxton, Wesdome Board Rep

Currently Chief Governance Officer with Wesdome Gold Mines Ltd. (TSX:WDO)

Strategic Advisors

David Garofalo

Craig Parry

Bryan Slusarchuk

Leo Hathaway

Daniel J. Kunz

Adrian Rothwell

News Update

On September 28, 2023, Goldshore Resources Inc. has provided an update with respect to results from the company's summer exploration program at the Moss gold project in Northwestern Ontario, Canada. Highlights:

Goldshore field crews have identified five unique gold mineralization trends including two polymetallic gold-cooper trends across the Moss gold project through a combination of ionic leach soil sampling and property-wide field mapping with a combined strike of over 35 kilometres. Recent rock sample results include:

• Moss trend -- 9.59 grams per tonne Au and 60.6 g/t silver plus five g/t Au, 96.2 g/t Ag and 0.98 per cent Cu from samples in diorite-hosted shears along strike from the current mineral resource;
• 24.9 g/t Au and 9.99 g/t Ag from samples of strongly altered dacite 200 metres south of the Moss Main zone, representing a new parallel zone;
• Kawa trend -- 33.7 g/t Au, 0.64 per cent zinc and 75.3 parts per million molybdenum from sheared diorite/volcanic contacts within a new 6.5-kilometre-long belt;
• Hamlin trend has been expanded to become an eight-kilometre-long polymetallic Au-Ag-Cu-Mo belt with values including 0.73 g/t Au, 0.14 per cent Cu, 7.6 ppm bismuth and 7.1 ppm tellurium;
• Coldstream trend has been widened to 800 metres through the discovery of parallel structures assaying 1.07 g/t Au and 0.98 per cent Zn;
• 9.79 g/t Au from mafic-hosted carbonate shear veins at the Benton prospect, east of the East Coldstream deposit;
• Vanguard trend -- 3.97 per cent Cu, 1.73 g/t Au and 19.1 g/t Ag plus 2.94 g/t Au in a nine-kilometre-long belt of polymetallic volcanogenic massive sulphide Cu-Zn-Au-Ag mineralization that is now found to be 120 metres wide through discovery of additional lenses.

On August 10, 2023, Goldshore Resources Inc. has shared a corporate update in regards to its continuing activities. Highlights:

• The preliminary economic assessment (PEA) on the Moss gold project is progressing well and is on schedule for release mid Q4 2023.
• The PEA is being managed by an independent multidisciplinary team at Ausenco Engineering Canada Inc.
• Base Metallurgical Laboratories Ltd. (BaseMet) has completed a gold deportment study with positive results and additional heap leach metallurgical testwork is in progress at Kappes, Cassaday and Associates (KCA) to maximize potential gold recoveries.
• Independent review of the May 5, 2023, mineral resource estimate for the Moss gold project recently completed by SRK Consulting (Canada) Ltd. confirms that the resource meets the CIM guidelines for the reporting of inferred mineral resources.
• Independent review of project permitting paths by CSL Environmental & Geotechnical Ltd. confirms that the permitting process is on track for development with significant studies already completed and no major information or timeline hurdles expected.
• Goldshore continues to take a proactive approach to community engagement, with regular information sharing meetings with host indigenous communities and benefiting greatly from feedback on all aspects of the PEA process.
• The company has been approved to receive an Ontario Junior Exploration Program grant of $200,000.
• An additional greater than 8,000 hectares of new mineral claims have been staked 15 to 25 km north of the Moss gold project.

On July 10, 2023, Goldshore Resources Inc. has changed its financial year-end from March 31 to Dec. 31. The change in financial year-end has been made to align the timing of the company's financial reporting obligations with its internal budgeting and forecasting process, and with its peers. The next financial year-end of the company for its transition year will occur on Dec. 31, 2023.

Further details regarding the change in financial year-end is available in the company's notice of change in year-end prepared in accordance with Section 4.8 of National Instrument 51-102 -- Continuous Disclosure Obligations and filed under the company's SEDAR profile.

On June 20, 2023, Further to its press release of May 8, 2023, Goldshore Resources Inc. has confirmed that it has filed, pursuant to National Instrument 43-101, Standards of Disclosure for Mineral Projects, a technical report titled "NI 43-101 Technical Report -- Mineral Resource Estimate for the Moss Lake Project, Ontario, Canada," in connection with the 100-per-cent-owned Moss gold project in Northwestern Ontario, Canada. The technical report was prepared by Neal Reynolds, FAusIMM, MAIG, and Matthew Field, PrSciNat, of CSA Global Consultants Canada Ltd. The technical report has an effective date of May 5, 2023. The technical report is available on SEDAR and is posted on the company's website.

On May 17, 2023, Goldshore Resources Inc. has selected Ausenco Engineering Canada Inc. as its lead engineering firm to conduct the preliminary economic assessment (PEA) at the Moss gold project in Northwestern Ontario, Canada.

Goldshore's VP Exploration, Pete Flindell stated: "We are pleased to be working with Ausenco on the Moss Gold Project's PEA following our successful collaboration on the recent metallurgical test program. We feel that Ausenco understands our philosophy of integrated mine and process optimization to define the most efficient and cost-effective project. Ausenco also shares our vision for a project the Company can realistically build, while preserving process optionality, tremendous upside and future mine life growth."

On May 08, 2023, Goldshore Resources Inc. has provided an updated mineral resource estimate (MRE) for the Moss deposit and a maiden mineral resource estimate for the East Coldstream deposit, both located at its 100-per-cent-owned Moss gold project in Northwestern Ontario, Canada.

• Moss gold project global inferred resource grows 44 per cent to six million ounces (Moz) at 1.02 grams per tonne, within 183.6 million tonnes (Mt).
• Moss MRE grows with 24 per cent more contained gold ounces and 32 per cent more tonnes from 4.17 Moz Au in 121.7 Mt (November, 2022, mineral resource estimate) to 5.42 Moz Au at 1.03 g/t Au within 163.6 Mt (open pit and underground).
• The shear domain has increased in contained metal and tonnage from the November, 2022, mineral resource estimate by 52 per cent and 63 per cent, respectively, to 3.35 Moz Au at 1.84 g/t Au within 56.5 Mt (open pit only).
• There is clear expansion potential over the eight-kilometre-long belt through strike extensions (in both directions) and parallel shears where gold mineralization has been intersected but is sparsely drilled.
• East Coldstream MRE introduced at 580,000 oz at 0.91 g/t Au in 20 Mt (open pit and underground).
• Implied stripping ratios are 5.2:1 for Moss and 6.4:1 for East Coldstream.
• This resource increase implied by the Moss gold project demonstrates the scale of the project and the opportunity for a high-grade open-pit gold project.
• Work is well under way on studies to support a preliminary economic assessment (PEA) planned for later this year.
• The Moss gold project is host to 29 additional targets over a 35 km trend, which the company continues to evaluate and prioritize for future drill campaigns.
• The company has incurred discovery costs of approximately $10 per ounce of inferred Au resource (all-in), including acquisition costs and overheads. This can also be measured as approximately 76 ounces Au per metre drilled (all-in costs included) in the 78,000 metres drilled to date.

On May 05, 2023, The TSX Venture Exchange has accepted for filing the company's proposal to issue 3,018,572 units to settle outstanding debt for $513,157.18 to an arm's-length creditor. Each unit will comprise one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of 25 cents for a period of 24 months.

Number of creditors: one creditor

Non-arm's-length party/pro group participation: not applicable

Warrants: 1,509,286 share purchase warrants to purchase 1,509,286 shares

Warrant exercise price: 25 cents for a two-year period

On May 03, 2023, Goldshore Resources Inc. has released the preliminary results from its preliminary economic assessment-level metallurgical test work at the Moss gold project in Northwest Ontario, Canada. The results were produced from the recent metallurgical testing program completed by Base Metallurgical Laboratories in Kamloops, B.C., under the overall supervision of Ausenco Engineering Canada Inc. Highlights:

• Test work shows significantly increased gold recoveries from a flotation-regrind-leach process averaging:
• 93-per-cent recovery at Moss;
• 98-per-cent recovery at East Coldstream.
• These results represent an 8-to-13-per-cent increase in gold recoveries from previously conducted standard leach test work.
• Coarse bottle roll leach test results returned gold recoveries between 53 per cent and 64 per cent, which encourage investigation of a low-recovery heap leach solution for low-grade mineralization that may bring gold production forward and reduce tailings.

President and chief executive officer Brett Richards stated: "We are very pleased with the early results from the metallurgical test program, as recoveries have increased from the InnovExplo's 2011 mineral resource estimate and subsequent 2013 preliminary economic assessment by 8 per cent to 13 per cent. This detailed testing being undertaken will enhance the economics of our new mineral resource estimate due out in the near future, and the new preliminary economic assessment due to commence immediately thereafter. As well, these results also appear to provide early support for heap leaching the low-grade material, which positively changes the dynamics of an economic analysis."

On April 25, 2023, Goldshore Resources Inc. has released assay results from its 100,000-metre drill program at the Moss gold project in Northwest Ontario, Canada. Highlights:

Results from nine holes drilled to infill poorly tested parts of the Southwest zone have delineated multiple high-grade structures within the broader mineralized envelope with best intercepts of:

1.47 grams per tonne Au over 16.9 metres from 375.3 metres depth in MMD-22-111, including:

3.88 g/t over 5.6 m from 386 m;

1.34 g/t Au over 37 m from 400.85 m depth in MMD-23-116, including:

3.25 g/t Au over 13.05 m from 405.55 m;

1.63 g/t Au over 14 m from 409 m depth in MMD-23-118A;

1.97 g/t Au over 10.95 m from 157 m depth in MMD-23-119.

Drill results prove that the Southwest zone is a continuation of the Main zone and not a fault offset as previously interpreted. Mapping and geophysical data, together with historical scout drilling, show that mineralization continues intermittently for another three kilometres to the southwest and that many of the better targets are yet to be drilled.

With drilling recently completed, the company is preparing an updated mineral resource expected in May. The May, 2023, MRE will use data from an additional 72 holes compared with the November, 2022, mineral resource estimate. Mineralization in the resource area remains open in multiple directions.

President and chief executive officer Brett Richards stated: "These results continue to support our thesis that the size and scale of the Moss gold project will be large enough to support a material and meaningful update to the mineral resource estimate, which is expected in early May, 2023.

On April 20, 2023, Goldshore Resources Inc. has released assay results from its recently completed drill program at the Moss Lake project in Northwest Ontario, Canada. Highlights:

• Results from seven holes testing the extension of the southwest zone toward the main zone have delineated a new, high-grade lens, including visible gold, northeast of the southwest zone resource that extends from surface to at least 250 metres depth, with best intercepts of:
• 6.96 grams per tonne gold over 15.05 m from 189.4 m depth in MMD-22-105, including:
• 54.4 g/t Au over 1.6 m from 189.4 m.
• 2.17 g/t Au over 50.35 m from 103.55 m depth in MMD-23-114, including:
• 3.47 g/t Au over 26.05 m from 120.35 m.
• 1.30 g/t Au over 21.35 m from 214 m depth in MMD-22-108, including:
• 2.60 g/t Au over 7.35 m from 228.0 m.
• These drill results prove that the southwest zone is a continuation of the main zone and not a fault offset as previously interpreted. They also show that the southwest zone extends to depth and is potentially as large as the main zone.
• With drilling recently completed, the company is preparing an updated mineral resource, expected in May. The updated resource will use data from an additional 72 holes compared with the November, 2022, resource. Mineralization in the resource area remains open in multiple directions.

On April 13, 2023, Goldshore Resources Inc. has closed its previously announced brokered private placement offering of securities of the company for aggregate gross proceeds of approximately $6.9-million, including the full exercise of the overallotment option. The offering was led by Research Capital Corp. and Eventus Capital Corp., as co-lead agents and joint bookrunners (the "Lead Agents"), on their own behalf and on behalf of a syndicate of agents, including Laurentian Bank Securities Inc., Canaccord Genuity Corp., and Haywood Securities Inc. (together with the Lead Agents, the "Agents").

On April 05, 2023, Goldshore Resources Inc., further to its news release dated March 23, 2023, and due to strong investor demand, is increasing the size of its previously announced brokered private placement offering to up to $6-million aggregate gross proceeds of securities of the company. The offering is being conducted by Research Capital Corp. and Eventus Capital Corp. as co-lead agents and joint bookrunners on their own behalf and on behalf of a syndicate of agents, including Laurentian Bank Securities Inc., Canaccord Genuity Corp. and Haywood Securities Inc.

The company intends to use the net proceeds raised from the sale of units for working capital and future exploration work on its Moss Lake gold deposit in Northwest Ontario, Canada.

On March 23, 2023, Goldshore Resources Inc. has entered into an agreement with Research Capital Corp. and Eventus Capital Corp., as co-lead agents and joint bookrunners, on their own behalf and on behalf of a syndicate of agents to be formed, in connection with a brokered private placement of the following securities for aggregate gross proceeds of up to $5-million:

1. Units of the company at a price of 17 cents per unit, comprising one common share of the company and one-half common share purchase warrant;
2. Flow-through units of the company at a price of 19.5 cents per FT unit, comprising one common share that will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one-half of one warrant.

The company intends to use the net proceeds raised from the sale of units for working capital and future exploration work on its Moss Lake gold deposit in Northwest Ontario, Canada.

On March 14, 2023, Goldshore Resources Inc. has released assay results from its continuing 100,000-metre drill program at the Moss Lake project in Northwest Ontario, Canada.

Highlights:

• Results from seven holes infilling the QES zone have confirmed wide zones of gold mineralization containing multiple, closely spaced, high-grade shears in previously poorly drilled volumes, with best intercepts of:
• 0.86 gram per tonne gold over 120.65 metres from 593 m depth in MQD-22-104, including:
• 1.33 g/t Au over 54.45 m from 657 m.
• 1.06 g/t Au over 44.3 m from 591.15 m depth in MQD-22-099, including:
• 1.55 g/t Au over 27.1 m from 594 m.
• 0.48 g/t Au over 185.55 m from 208.4 m depth in MQD-22-0100, including:
• 1.67 g/t Au over 12.75 m from 346.25 m.
• 0.81 g/t Au over 61.35 m from 614.65 m depth in MQD-22-101, including:
• 1.18 g/t Au over 14.65 m from 623.35 m.
• 0.74 g/t Au over 80.95 m from 193.05 m depth in MQD-22-102, including:
• 1.43 g/t Au over 20 m from 246.1 m.
• 0.71 g/t Au over 77 m from 190 m depth in MQD-22-103, including:
• 1.43 g/t Au over 16 m from 203 m.
• Additionally, these holes intersected parallel mineralized shears at shallow depths south of the main QES zone, which are open along strike and expand the cumulative width of the QES zone by over 100 m to 620 m. Best intercepts include:
• 2.23 g/t Au over 11.2 m from 119.05 m depth in MQD-22-100;
• 5.9 g/t Au over 2.6 m from 91 m depth in MQD-22-101;
• 2.41 g/t Au over 8.5 m from 112.7 m depth in MQD-22-104.

On February 27, 2023, Goldshore Resources Inc. has released assay results from its continuing 100,000-metre drill program at the Moss Lake project in Northwest Ontario, Canada. Highlights:

• Results from the second half of the East Coldstream phase 1 drill program have confirmed the potential for significant, high-grade shears within East Coldstream, approximately 13 kilometres northeast of the Moss Lake deposit. Best intercepts include:
• 3.49 grams per tonne gold over 26.35 metres from 76.85 m depth in CED-22-010, including:
• 5.64 g/t over 15.65 m from 87.55 m.
• 1.12 g/t Au over 21.9 m from 206.5 m;
• 1.07 g/t Au over 31 m from 288 m depth in CED-22-011;
• 1.48 g/t Au over 18.45 m from 357 m, including:
• 4.68 g/t Au over 4.85 m from 370.6 m.
• 0.94 g/t Au over 25.05 m from 218.95 m depth in CED-22-014, including:
• 1.1 g/t Au over 16 m from 226 m.
• 1.23 g/t Au over 35.15 m from 338.45 m depth in CED-22-017, including:
• 2.19 g/t Au over 11.55 m from 338.45 m.
• In addition to the Moss Lake deposit, the upcoming mineral resource estimate update will include the East Coldstream deposit. In support of this, a three-dimensional wireframe of the mineralization-constraining alteration domain has been developed utilizing both current and historical drilling data.

President and chief executive officer Brett Richards stated: "These results at East Coldstream continue to support our thesis that the size and scale of the entire Moss Lake gold project will be large enough to support a material and meaningful update to the mineral resource estimate in April, 2023, with East Coldstream sequencing into the mine plan in a preliminary economic assessment as a satellite pit. We look forward to the continuing catalysts to the Moss Lake gold project in an effort to demonstrate the true value of the assets."

February 07, 2023, Goldshore Resources Inc. is hosting a town hall summit on Tuesday, Feb. 14, 2023, at 10 a.m. EST. Participants are able to register for the summit on-line.

Brett Richards will be your host at the summit, and he will be highlighting the 2023 activities at the Moss Lake gold project, as well as providing insights into the current gold and gold equity markets.

On February 02, 2023, Goldshore Resources Inc. has released assay results from its continuing, 100,000-metre drill program at the Moss Lake project in Northwest Ontario, Canada. Highlights:

• Hole MMD-22-063 has confirmed the presence of high-grade mineralization within the previously perceived low-grade and low-tonnage southwest zone and shown the zone to be almost 300 metres wide. Best intercepts include:
• 1.6 grams per tonne gold over 57.5 metres from 230.5 m depth in MMD-22-063, including:
• 9.46 g/t Au over 7.45 m from 234 m.
• 1.18 g/t Au over 18.25 m from 387.75 m.
• Results for 13 holes drilled to explore the northern and southern flanks of the mineralized shear zone system in the main zone have expanded the cumulative width of multiple close-spaced, high-grade gold shears by 150 m to 200 m (to over 550 m) at the main zone, with best intercepts of:
• 0.93 g/t Au over 126 m from 467 m depth in MMD-22-059, including:
• 1.64 g/t over 48 m from 513 m.
• 3.67 g/t Au over 13.65 m from 612.35 m.
• 1.05 g/t Au over 34 m from 257 m depth in MMD-22-088, including:
• 1.51 g/t Au over 15 m from 276 m.
• 1.84 g/t Au over 14.95 m from 483.05 m.

On February 02, 2023, Goldshore Resources Inc. has released assay results from its continuing, 100,000-metre drill program at the Moss Lake project in Northwest Ontario, Canada. Highlights:

• Hole MMD-22-063 has confirmed the presence of high-grade mineralization within the previously perceived low grade and low tonnage Southwest Zone and shown the zone to be almost 300 meters wide. Best intercepts include:
• 1.60 g/t Au over 57.5m from 230.5m depth in MMD-22-063 including:
• 9.46 g/t Au over 7.45m from 234.0m.
• 1.18 g/t Au over 18.25m from 387.75m.
• Results for thirteen holes drilled to explore the northern and southern flanks of the mineralized shear zone system in the Main Zone have expanded the cumulative width of multiple, close-spaced, high-grade gold shears by 150-200 meters to over 550 meters at the Main Zone with best intercepts of:
• 0.93 g/t Au over 126.0m from 467.0m depth in MMD-22-059 including:
• 1.64 g/t over 48.0m from 513.0m 3.67 g/t Au over 13.65m from 612.35m.
• 1.05 g/t Au over 34.0m from 257.0m depth in MMD-22-088 including:
• 1.51 g/t Au over 15.0m from 276.0m.
• 1.84 g/t Au over 14.95m from 483.05m.

President and chief executive officer, Brett Richards, stated: "These results once again support our thesis that the size and scale of the Moss Lake Gold Project will be large enough to support a material and meaningful update to the mineral resource estimate ("MRE") in April 2023, followed by a preliminary economic assessment ("PEA") on the updated resource. We continue to find additions to the resource on step out holes laterally and along strike from the historic resource profile, and we look to continue to explore the impact of these additions to the resource model, as well as guiding us in future drill targets."

On January 23, 2023, Effective Oct. 31, 2022, the company's short form prospectus dated Oct. 31, 2022, was filed with and accepted by the TSX Venture Exchange, and filed with and receipted by the British Columbia Securities Commission, pursuant to the provisions of the Securities Act (British Columbia), which receipt also evidences that the Ontario Securities Commission has issued a receipt for the prospectus. The prospectus has been filed under Multilateral Instrument 11-102, Passport System, in Alberta. A receipt for the prospectus is deemed to be issued by the regulator in this jurisdiction, if the conditions of the instrument have been satisfied.

The TSX Venture Exchange has been advised that closing occurred on Dec. 22, 2022, for gross proceeds of $5.75-million (including gross proceeds from the full exercise of the agents' overallotment option), pursuant to a prospectus supplement dated Dec. 16, 2022, to the prospectus.

January 17, 2023, Goldshore Resources Inc. has released assay results from its continuing 100,000-metre drill program at the Moss Lake project in Northwestern Ontario, Canada.

Highlights:

• Results for seven holes, drilled to infill the western part of the QES zone, have confirmed and extended closely spaced higher-grade gold mineralized structures within a large volume of mineralized diorite. The holes were drilled to infill a sparsely tested volume at 300 to 500 metres vertical depth over a 500-metre strike length. These results improve the resolution of modelled shears and will potentially facilitate the expansion of pit-constrained mineral resource in this volume. Best intercepts include (from east to west):
• 1.03 grams per tonne (g/t) gold (Au) over 152.0 metres (m) from 464.0 m depth in MQD-22-072, including:
• 1.03 g/t Au over 10.25 m from 466.7 m;
• 1.27 g/t Au over 8.55 m from 478.95 m;
• 1.76 g/t Au over 61 m from 514 m;
• 0.95 g/t Au over 130.85 m from 436.15 m depth in MQD-22-070, including:
• 1.37 g/t Au over 41.75 m from 451.25 m;
• 1.40 g/t Au over 29.0 m from 518 m;
• 0.61 g/t Au over 137.0 m from 501.0 m depth in MQD-22-092, including:
• 2.67 g/t Au over 3.65 m from 511.3 m;
• 1.76 g/t Au over six m from 568 m;
• 1.22 g/t Au over 8.7 m from 625 m;
• 0.64 g/t Au over 153.2 m from 521.0 m, including:
• 1.32 g/t Au over 8.65 m from 533 m;
• 1.19 g/t Au over nine m from 557 m;
• One g/t Au over 24.5 m from 579.5 m.
• Hole MQD-22-094 collared in a new high-grade shear zone to the south of the QES zone that is believed to be an extension of the historic Boundary zone. This is one of many parallel shears that remains to be fully tested:
• 1.94 g/t Au over 11.3 m from 1.7 m in MQD-22-094.

On January 09, 2023, The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Dec. 23, 2022, and Dec. 29, 2022.

Number of shares: 4,166,720 common shares

Purchase price: 25 cents per non-flow-through share

Warrants: 2,083,360 share purchase warrants to purchase 2,083,360 shares

Warrant exercise price: 40 cents for a two-year period

Number of placees: seven placees

Total existing insider involvement: 400,000 (one placee)

On December 30, 2022, Goldshore Resources Inc. has closed a non-brokered private placement of 4,166,720 units at a price of 25 cents per unit for gross proceeds of $1,041,680. Each unit issued in connection with the financing comprises one common share of the company and one-half common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of 40 cents at any time up to 24 months from the closing of the financing. The company intends to use the proceeds raised from the financing for future exploration work on its Moss Lake gold deposit in Northwest Ontario, Canada, and for general working capital purposes.

On December 29, 2022, Goldshore Resources Inc. is increasing the size of its previously announced non-brokered private placement offering of units of the of the company at a price of 25 cents per unit for gross proceeds of $1,041,680.

On December 23, 2022, Goldshore Resources Inc. has arranged a non-brokered private placement of up to four million units at a price of 25 cents per unit for gross proceeds of up to $1-million. Each unit issued in connection with the financing comprises one common share of the company and one-half common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of 40 cents at any time up to 24 months from the closing of the offering.

The company intends to use the proceeds raised from the financing for future exploration work on its Moss Lake gold deposit in Northwest Ontario, Canada, and for general working capital purposes.

On December 22, 2022, Goldshore Resources Inc. has closed its previously announced public offering, for aggregate gross proceeds of approximately $5.75-million, including the full exercise of the overallotment option. The offering was led by Research Capital Corp. as the lead agent and sole bookrunner, on behalf of a syndicate of agents, including Laurentian Bank Securities, Canaccord Genuity Corp., Gravitas Securities Inc. and Red Cloud Securities Inc.. The net proceeds from the offering of the conventional units will be used for working capital and general corporate purposes.

On December 14, 2022, Goldshore Resources Inc. has entered into an agreement with Research Capital Corp. as the lead agent and sole bookrunner, on behalf of a syndicate of agents, in connection with a best-efforts public offering of securities of the company for aggregate gross proceeds of up to $5-million from a combination of:

• conventional units of the Company ("Conventional Units") at a price of $0.25 per Conventional Unit. Each Conventional Unit will consist of one common share (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant");
• flow-through units of the Company (the "FT Units") at a price of $0.30 per FT Unit. Each FT Unit will consist of one Common Share that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") and one-half of one Warrant; and
• flow-through units of the Company to be sold to charitable purchasers (the "Charity FT Units") at a price of $0.35 per Charity FT Unit. Each Charity FT Unit will consist of one Common Share that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Tax Act that will be issued as part of a charity arrangement and one-half of one Warrant.

On December 12, 2022, Further to its press release of Nov. 15, 2022, Goldshore Resources Inc. has filed, pursuant to National Instrument 43-101, Standards of Disclosure for Mineral Projects, a technical report titled "NI 43-101 Technical Report -- Mineral Resource Estimate for the Moss Lake Project, Ontario, Canada" in connection with the 100-per-cent-owned Moss Lake gold project in Northwestern Ontario, Canada. The technical report was prepared by Neal Reynolds, FAusIMM, MAIG, and Matthew Field, PrSciNat, of CSA Global Consultants Canada Ltd.

On November 28, 2022, Goldshore Resources Inc. has released assay results from its continuing 100,000-metre drill program at the Moss Lake project in northwestern Ontario, Canada. Highlights:

Results for seven holes, drilled to expand the coverage of the high-grade shears in the QES zone, have confirmed higher-grade shear-hosted gold mineralization within a large volume of well-mineralized diorites. These results are all within the $1,500 Whittle pit that constrains the current resource and identifies new high-grade shears. It drilled 30.1 m of 1.47 g/t Au at Moss Lake.

A new parallel mineralized shear structure has been discovered 150 m south of the main QES system containing high-grade mineralization within a sheared intermediate volcanic package with best intercepts of:

• 3.44 g/t Au over 5.8 m from 246.4 m depth in MQD-22-080;
• 1.22 g/t Au over four m from 206.0 m depth in MQD-22-087;
• 1.15 g/t Au over 7.3 m from 75.0 m depth in MQD-22-090A.

On November 15, 2022, Goldshore Resources Inc. has released a mineral resource estimate (MRE) for the Moss Lake deposit located at its 100-per-cent-owned Moss Lake gold project in Northwest Ontario, Canada.

President and CEO, Brett Richards, stated: "This mineral resource estimate confirms our belief that the Moss Lake Deposit is larger than previously thought. More importantly, there is a mass of higher-grade mineralization that can be prioritized in a potential phase one operation that Goldshore can build with a smaller capital requirement. Our findings on this MRE are exciting for the future of the Moss Lake Gold Project, as we now have short- and medium-term options to continue to deliver value to the Goldshore shareholders, as we explore expansions and quality increases (infill drilling to Indicated resource category) to the higher-grade resource; but also while testing other areas of known strong mineralization like East Coldstream, North Coldstream, Iris and Vanguard, across a trend of 35 km on the project."

On November 02, 2022, Goldshore Resources Inc. announced that the assay results from its ongoing 100,000-meter drill program at the Moss Lake Project in Northwest Ontario, Canada (the "Moss Lake Gold Project"). Highlights:

• Results for eight holes, drilled to both expand and infill historic but poorly surveyed drill sections in the Main Zone, have confirmed higher-grade gold mineralization within a large volume of well mineralized diorite with best intercepts of:
• 2.66 g/t Au over 8.15m from 18.1m depth in MMD-22-057 and
• 1.34 g/t Au over 90.95m from 254.05m including
• 2.42 g/t Au over 12m from 260.4m and
• 4.02 g/t Au over 16.4m from 283.55m
• 1.02 g/t Au over 59.9m from 502m depth in MMD-22-056 including
• 4.78 g/t Au over 9.35m from 542m
• 4.38 g/t Au over 9.5m from 84.5m depth in MMD-22-036
• 1.05 g/t Au over 26.45m from 373.55m depth in MMD-22-048
• 1.8 g/t Au over 18m from 121.0m depth in MMD-22-053 and
• 1.3 g/t Au over 43.65m from 355.6m
• Results for four holes, drilled to evaluate the under-drilled Southwest Zone, have confirmed narrow higher-grade gold mineralized structures with best intercepts of:
• 23.7 g/t Au over 3.5m from 182m depth in MMD-22-064
• 2.26 g/t Au over 8.25m from 388m depth in MMD-22-042

President and CEO Brett Richards stated: "Throughout our entire drilling campaign from 2021 to now, we have consistently and repeatedly delivered promising drill results, indicating not only the size and scale potential of the Moss Lake Project, but also the quality of the higher-grade areas of the deposit. As we illustrated at the end of H1 2022, our focus turned from identifying and drilling the size of the global resource; to identifying the high(er) grade sections contained within the historical resource (and stepped out from the historical resource), and focusing on building a much smaller open pit project PEA around this. The results from this change in focus are evident in press releases in H1 2022 and Q3 2022, and continue with the results highlighted today. To that end, we are expediting our independent mineral resource estimate ("MRE") on the high(er) grade sections within the historical resource, and look to have the results of this MRE presented to the market by the end of 2022, versus the end of Q1 2023, as previously guided. This will also lead to the Company accelerating a preliminary economic assessment ("PEA") on a smaller, high(er) grade resource, but much more manageable project in terms of CapEx and project timeline, versus a large-scale project PEA on an updated larger resource similar to the historic resource. The target delivery to the market of the economic results of the PEA is slated for the end of Q1 2023, under current market conditions and circumstances, versus the end of Q2 2023, as previously guided."

On October 4, 2022, Goldshore Resources Inc. announced assay results from its initial scout drilling campaign testing the historic North Coldstream copper mine at the Moss Lake project in Northwest Ontario, Canada.

Highlights:

• Initial results from one North Coldstream hole confirm significant copper (Cu), cobalt (Co) and gold (Au) mineralization hosted within a sheared volcanic massive sulphide (VMS) deposit with best intercepts of:
• 62.8 metres at 0.88 per cent (%) copper equivalent (CuEq) (0.36% Cu, 0.06% Co, 0.3 parts per million (ppm) Au and 3.1 ppm Ag) from 8.2 m depth in CND-22-006, including:
• 13.35 m at 1.18% CuEq (0.54% Cu, 0.07% Co, 0.39 ppm Au and 3.5 ppm Ag) from 8.2 m;
• 14.65 m at 1.3% CuEq (0.57% Cu, 0.09% Co, 0.39 ppm Au and 4.4 ppm Ag) from 23.1 m.
• These copper and cobalt results confirm that North Coldstream has important critical mineral value and highlights multiple deposit styles in the district, which is a hallmark of important mineral districts worldwide:
• North Coldstream was mapped by last year's VTEM (versatile time domain electromagnetic) survey (press release dated March 10, 2022) as a discrete magnetic conductor. There are 12 similar targets in the Moss Lake project, highlighting the potential for similar copper-cobalt-gold deposits.
• Drilling also identified a gold-only intercept of 2.1 m at 1.88 g/t Au from 98.9 m in the footwall to the North Coldstream VMS deposit, which is related to the East Coldstream style of mineralization 1.6 kilometres to the east, suggesting greater continuity of the gold-bearing structures.

On September 29, 2022, Goldshore Resources Inc. has released assay results from its continuing 100,000-metre drill program at the Moss Lake project in Northwest Ontario, Canada.

Highlights:

• Results for five holes, drilled to infill historical but poorly surveyed drill sections in the main zone, have confirmed higher-grade gold mineralization within a large volume of well-mineralized diorite, with best intercepts of:
• 192.75 m at 1.02 grams per tonne gold from 94.45 m depth in MMD-22-051, including:
• 62 m at 1.49 g/t Au from 113 m;
• 48.7 m at 1.29 g/t Au from 208.3 m.
• 11.85 m at 1.87 g/t Au from 441.15 m depth in MMD-22-041.
• 28 m at 1.51 g/t Au from 580 m depth in MMD-22-046, including:
• 11 m at 3.45 g/t Au from 587 m.
• 9.75 m at 1.78 g/t Au from 282.55 m depth in MMD-22-047.
• 34.25 m at 1.03 g/t Au from 209 m depth in MMD-22-049, including:
• 3.8 m at 6.98 g/t Au from 239.45 m.

  Disclaimer

Copyright (c) 2000 - 2025 Chinese Investment Club Inc.
All Right Reserved. Do not duplicate or redistributed in any form.
版權所有, 未經同意, 不得以任何形式轉載或翻印