Proven Gold Mining Team Goes Elephant Hunting in Canada with 100,000-Meter Drill Program

by Mike Fagan

Mike Fagan

Goldshore Resources (TSX-V: GSHR) — currently trading around C$0.85 per share — is advancing the ~4 million ounce Moss Lake Gold Project in western Ontario, Canada, with plans for 100,000 meters of drilling starting this summer.

The Moss Lake project boasts a historical gold resource of 1.47 million ounces Indicated and 2.51 million ounces Inferred and includes multiple mineralized zones [Moss Lake, Hamlin Lake, North Coldstream, East Coldstream] over a 20+ km long trend.
The Moss Lake, North Coldstream, and East Coldstream deposits sit on a mineralized trend marked by a regionally significant deformation zone locally referred to as the “Wawiag Fault Zone” in the area of the Moss Lake deposit.

The zone occurs over a length of approximately 20 km and includes a 7-km-long zone between the Moss Lake and East Coldstream deposits that is significantly underexplored.

The Goldshore team is commencing this summer’s exploration program with the relogging of core from historical drilling followed by an airborne VTEM survey over the greater Moss Lake project. The information gleaned from those efforts will then be used in the delineation of the first set of high-priority drill targets for the upcoming program.
Goldshore anticipates having drill permits in-hand within the coming few weeks with drilling slated to kickoff in July via one rig and then steadily ramping up to as many as seven rigs over the following six or so months.

At a projected 100,000 meters, this is a substantial drill program, really, for any junior company — and Goldshore Resources is well cashed-up to get the ball rolling having just raised C$25 million.

Initial drilling at Moss Lake will focus on validating and potentially improving upon an already robust ~4 million ounce historical resource via infill drilling followed by step-outs to demonstrate the project’s geologic potential across a wider set of targets.
It should be noted that drilling in this particular area of southeastern Canada — which includes the prolific Red Lake, Timmins, and Abitibi gold camps — typically occurs year-round with the jockeying of drill positions based on varying dry-land, frozen-tundra, and frozen-lake conditions through the various seasons.
And the Goldshore team — led by CEO Brett Richards — is more than up for the task. Over his 34-year career, Brett has built mines in some of the most challenging mining jurisdictions in the world including in Southeast Asia and in Africa. Thus, it’s probably an understatement to say Brett is thrilled to be back working in one of the safest, pro-mining jurisdictions on the planet — Ontario, Canada!
With Goldshore, Brett has put together a well-rounded team of mining professionals with deep industry experience and a strong track record of value creation, major discoveries, project execution, and M&A transactions.
In today’s environment of rising gold prices, Goldshore Resources has quickly elevated its profile as one-to-watch in the junior resource space as the drills get turning on an expansive, multi-year, multi-target program in a Tier-1 jurisdiction.
My colleague Gerardo Del Real of Junior Resource Monthly caught up with Brett to go over the project, the team, and the upcoming drill program at Moss Lake. Enjoy! 
Transcript is also available. 
Yours in profits,


Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.

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