Goldshore Resources Inc. is pleased to announce the completion of the review and confirmation of the mineral resource model by G Mining Services for its use in the Preliminary Economic Assessment (PEA) study. The Company’s share price has shown significant outperformance compared to the VanEck Junior Gold Miners ETF (GDXJ) by 155% since the release of the updated Mineral Resource Estimate (MRE) on February 6, 2024.
Following the summer drill programs, a fault along the western edge of the Moss Gold Deposit was identified, leading to a strategic focus on expanding the deposit to the west around the Moss Nose target. The recent scout drilling results at the Boundary Zone revealed a 6-8 meter shear zone with notable gold mineralization, including a best intercept of 13.30m at 1.27g/t gold. The Southwest Extension drilling identified a significant fault that is interpreted to offset the Moss Gold Deposit to the southwest, providing a basis for developing additional drill targets in the Moss Nose area.
In terms of the PEA progress, G Mining Services completed a site visit to evaluate potential infrastructure sites and reviewed the mineral resource model for use in the study. The focus is currently on evaluating various mining and milling scenarios to determine the optimal project for the PEA study.
The Company’s performance in the market has been strong, with a substantial increase in share price and strong insider support. Approximately 6 million shares were acquired by insiders in the open market, demonstrating confidence in the Company’s growth strategy.
Goldshore Resources Inc. continues to execute on its strategic plan, with a focus on exploration efforts to expand the Moss Gold Deposit and advance the PEA study with G Mining Services. The Company remains committed to long-term shareholder value and stakeholder engagement through the acquisition and advancement of primary gold assets in tier-one jurisdictions.
