Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

TICKERS: GSHR; GSHRF; 8X00

Drill Bit Shows Gold Inside, Outside 2013 Resource Area

Share on Stocktwits

Source:

The Quick Take

  • Results of two holes, MMD-21-006 and MQD-21-009, drilled at Goldshore Resources' Moss Lake project in Ontario confirmed the presence of gold mineralization and the gold grades used in the 2013 historical resource.
  • Drilling identified a new high-grade structure, containing gold grades up to 1.42 grams per ton, about 250 meters north of and parallel to the main QES zone.
  • MMD-21-006 and MQD-21-009 are twins of two holes drilled in 1990; the two holes in each set showed similar gold grades and widths.
  • MMD-21-006 demonstrated a main high-grade mineralized zone exists within a larger envelope of lower grade mineralization, at the Main zone's southwestern edge.
  • Goldshore hypothesizes the deposit is significantly larger than the company originally thought it to be.

New drill results from Goldshore Resources Inc.'s (GSHR:TSX; GSHRF:OTC; 8X00:FSE) Moss Lake project confirm mineralization within the historical resource and show significant extensions of mineralization outside of it.

Hole MMD-21-006 was placed near the southwest end of the known Main zone. About 1,600 meters (1,600m) east of this first hole, MQD-21-009 was drilled, in the QES zone.

Drilling of these two holes returned intercepts in the Main zone of 8.15m of 1.1 grams per ton gold (1.1 g/t Au) from 167.05m downhole and 10.8m of 1.57 g/t Au from 248.2m downhole.

As far as comparisons of new gold grades and widths versus historical ones, holes MMD-21-006 and 90-223, respectively, returned 231.9m, 233m of 0.57 g/t, 0.58 g/t at 160m downhole, 167m downhole.

Likewise, the width and gold grade of hole MQD-21-009 were 132m and 0.72 g/t, close to those of twin hole 90-209, which were 128m and 0.74 g/t.

Overall, "assay results continue to confirm the Main and QES zones include wide zones of +1 g/t gold mineralization within a much larger envelope of lower grade gold mineralization," Peter Flindell, vice president of exploration, said in a news release.

[NLINSERT]

Disclosures:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Goldshore Resources. Click here for important disclosures about sponsor fees. 
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. 




Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe