Categories: Precious Metals
Topics: Gold Stocks

Do Not Miss This Low-Priced Gold Stock

Goldshore Resources Inc. (TSX-V: GSHR)(OTC: GSHRF), currently trading around C$0.30 per share, has released a first-pass mineral resource estimate (MRE) for its 100%-owned Moss Lake gold project in northwestern Ontario, Canada — one of the best and safest mining jurisdictions on the planet. 

The resource, which came in larger than initially expected, has been pegged at 121.7 million tonnes (Mt) Inferred at a grade of 1.1 grams per tonne gold (g/t Au) for 4.17 million ounces of contained gold and includes a higher-grade shear domain of 34.7 Mt at 2.0 g/t Au.

Importantly, the calculations were made using a gold price of just US$1,500 per ounce. Meanwhile, the yellow metal rallied to US$1,800 an ounce on Wednesday and looks poised to trend even higher over the coming quarters. 

Beyond the current mineral resource area, the project lays host to an additional 29 targets within multiple mineralized zones over a 35-km-long trend, which the company continues to evaluate with early data pointing to the potential for a high-grade open-pittable gold resource at Moss Lake.  

Goldshore Resources president & CEO Brett Richards — whom you’re about to hear from directly in our exclusive interview coming right up — commented via press release: 

“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 1 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.” 

As represented in the property map image below, the polymetallic Moss Lake project presents a nearly unlimited opportunity for potential resource expansion by way of the drill-bit across a multitude of high-priority mineralized zones — including strong battery-metals showings [copper plus cobalt] at the North Coldstream deposit.

Keep in mind also that the current mineral resource estimate (MRE) was based on just 48 drill holes from Goldshore’s 2021-22 drill program. The team has drilled an additional 52 holes at Moss Lake that did not make the final cutoff for inclusion in the first-pass MRE due to assays not being available at the time. 

Goldshore’s current Phase-1, 100,000-meter drill program is ongoing with a focus on three key deposit areas along the 35-km-long trend ahead of a planned PEA (Preliminary Economic Assessment). 

The Moss Lake area-of-interest remains open at-depth enabled by parallel shears wherein the Goldshore team is continuing to target significant expansion of the known multi-million ounce Inferred resource. 

In fact, just a couple of weeks ago, the company released assays from 7 additional holes from Moss Lake confirming higher-grade shear-hosted gold mineralization within a large volume of well-mineralized diorites in the QES zone — highlighted by an intercept of 1.47 g/t Au over 30.1 meters. 

CEO Brett Richards added:

“The results from these drill holes in the QES zone are part of a 52-hole dataset that was not included in the recent mineral resource estimate. They confirm our belief that there are additional high-grade shear zones within the deposit that will potentially add to the shear domain component of the mineral resource that we anticipate will be prioritized in the mining schedule when we move towards conducting a preliminary economic analysis next year.”

The Goldshore team expects to include those specific shear zones, along with scores of additional drill holes, in the next mineral resource update slated for early-2023 followed by a PEA later in the year.

So without further ado, here is Gerardo Del Real’s exclusive, late-breaking interview with Goldshore Resources president & CEO, Mr. Brett Richards. Enjoy!

Mike Fagan
Editor, Resource Stock Digest