Business
Goldshore Announces Open-Pit Constrained Inferred Mineral Resource Estimate of 121.7 Mt at 1.1 g/t Au and 4.17 Moz Contained Gold at Moss Lake Deposit
Contains Higher-Grade Shear Domain of 34.7 Mt at 2.0 g/t Au and 2.2 Moz Contained Gold Vancou...
About this update from Gold X2 Mining Inc.
[{"type":"text","content":"Goldshore Announces Open-Pit Constrained Inferred Mineral Resource Estimate of 121.7 Mt at 1.1 g/t Au and 4.17 Moz Contained Gold at Moss Lake DepositContains Higher-Grade Shear Domain of 34.7 Mt at 2.0 g/t Au and 2.2 Moz Contained GoldVancouver, British Columbia--(Newsfile Corp. - November 15, 2022) - Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (\"Goldshore\" or the \"Company\") is pleased to announce a mineral resource estimate (the \"MRE\") for the Moss Lake deposit (the \"Moss Lake Deposit\") located at its 100%-owned Moss Lake Gold Project in Northwest Ontario, Canada (the \"Project\" or the \"Moss Lake Gold Project\"). Open-Pit Constrained Inferred Mineral Resource Estimate with an Effective Date of November 14, 2022:Inferred Resources(Domains)Tonnes(Mt)Grade(g/t Au)Contained Metal(Moz Au)Shear34.72.02.20Intrusion87.00.71.97Total121.71.14.17 Note: Based on a US$1,500 per ounce gold price and economic cut-off grade of 0.40 g/t Au. Refer to complete notes on Mineral Resource Assumptions below.This is a major milestone for the Company as the shear domain represents an opportunity for a high-grade open-pit gold resource.There is significant and clear expansion potential through strike and dip extensions to known shears, as well as parallel shears. The Company has included 48 holes from its 2021 and 2022 drilling campaign in the new MRE and has drilled an additional 52 holes that are not included in the MRE because assays have not been received to date.The current MRE represents a significant expansion over the 2013 historical estimate for the Project with 35% more tonnes and 33% more contained gold ounces.The Moss Lake Gold Project is host to 29 additional targets over a 35 km trend, which the Company continues to evaluate. 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 ...