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Goldshore Resources Announces Innovative Technology Application for Moss Lake Project Exploration and Closing of Non-Brokered Financing
Vancouver, British Columbia--(Newsfile Corp. - May 18, 2022) - Goldshore Resources Inc. (TSXV...
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[{"type":"text","content":"Goldshore Resources Announces Innovative Technology Application for Moss Lake Project Exploration and Closing of Non-Brokered FinancingVancouver, British Columbia--(Newsfile Corp. - May 18, 2022) - Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (\"Goldshore\" or the \"Company\"), is pleased to announce that it is working with Dr. Russell Birrell of Globex on implementing his innovative ionic leach soil sampling technique that will enable the Company to detect bedrock anomalies beneath muskeg swamp and glacial till. Initial sampling will be conducted across known mineralization at the QES Zone to calibrate the geochemical response and enable a more accurate assessment of results in new areas. Peter Flindell, Vice President Exploration, comments: \"I have worked with Dr. Birrell and the ionic leach technique in Scotland where we successfully identified several mineralized targets. This technique is well suited to the type of cover at Moss Lake and I look forward to reviewing the first results over the QES Zone. The ionic leach program will continue throughout the 2022 summer field season and focus on the targets developed from last year's VTEM/magnetics survey. This will help us to rank and rate all targets, and to prioritize the scout drilling program, outside the historical Moss Lake deposit.\" Dr. Birrell was part of the team that developed the Mobile Metal Ion (MMI) sampling technique at CSIRO. The MMI technique has been widely used in exploration programs for the past three decades. His work on ionic leach marks an order of magnitude increase in sensitivity that has mapped several concealed mineralized targets in similar terranes. Closing of Non-Brokered FinancingThe Company is also pleased to announce that it has closed a non-brokered private placement of 1,000,000 units (each, a \"Unit\") at a price of $0.50 per Unit for gross proceeds of $500,000 (the \"Financing\"). Each Unit issued in connection with the Financing is comprised of one common share of the Company (each, a \"Common Share\") and one-half common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall entitle the holder thereof to acquire one Common Share at an exercise price of $0.75, for a period of 24 months following the date hereof, subject to acceleration if the Common Shares trade above $1.10 on the TSX Venture E...