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Goldshore Resources (TSXV: GSHR) updated the inferred resource at its Moss gold deposit to 6.0 million oz. of contained gold. That is a 44% increase in contained ounces over earlier estimates. The gold occurs in 183.6 million tonnes grading 1.02 g/t gold.
The Moss property covers a 35-km trend, near Thunder Bay in northwest Ontario. The trend includes the former North Coldstream mine that produced 103 million lb. of copper, 44,000 oz. of gold, and 440,000 oz. of silver, primarily between 1957 and 1967.
The current inferred resource includes both the Moss Lake and East Coldstream deposits. The Moss deposit has 161 million tonnes grading 1.00 g/t gold recoverable by open pit methods and 2.6 million tonnes at 2.90 g/t gold suitable for underground mining. The East Coldstream mineralization has 19.8 million tonnes at 0.89 g/t gold for an open pit and 200,000 tonnes at 2.24 g/t gold for underground mining.
Both the Moss and East Coldstream deposits are open at depth. Additionally, the Moss deposit is open along strike and through parallel structures.
Goldshore president and CEO Brett Richards said in a release that the company is pleased with the estimate because it demonstrates the size, scale, and potential of the Moss project. He noted that there are 29 additional targets to test at the project, including gold targets and four base metal and battery mineral targets.
“We will now start to run scenario planning for the PEA (preliminary economic assessment) with respect to how we construct a phase one project,” he added. It should be available later this year.
