Explorer Expands High-Grade Gold in Ontario
Source: Streetwise Reports 01/28/2025
Goldshore Resources Inc. (TSXV: GSHR; OTCQB: GSHRF ; FWB: 8X00) is continuing its 15,000-meter drill program at its Moss Gold Project in Northwest Ontario, the company’s chief executive officer is making sure to point out that its upcoming PEA won’t be the end of its story.
Goldshore Resources Inc. (TSXV: GSHR; OTCQB: GSHRF ; FWB: 8X00) continues its ongoing 15,000-meter drill program at its Moss Gold Project in Northwest Ontario, the company’s chief executive officer is making sure to point out that its results aren’t included in its upcoming Preliminary Economic Assessment (PEA) for the site.
The PEA will be a “base-case scenario” which the company plans to build on as it continues its exploration.
“Our goals of the program are to add ounces in the top 200 meters, convert waste to ore, and reduced the strip ratio of the deposit,” Chief Executive Officer Michael Henrichsen in a short video posted to the company’s website. “All of these will have a very positive impact on the economic performance of the asset.”
Significant results from initial drilling at Moss include a 79-meter intercept grading 1.28 grams per tonne (g/t) gold (Au) from 27 meters depth in hole MMD-24-133, with notable higher-grade zones such as 32.3 meters at 1.73 g/t Au. Another standout result was a 21.85-meter intercept grading 0.66 g/t Au from just 4.5 meters depth in hole MMD-24-134. These findings highlight the potential for improved resource classification and economic viability of the deposit.
“What we really see is in these results, we had thicker mineralization than we expected from the resource model,” Henrichsen said. “That was obviously quite important. The shear zones widen. We saw higher grades than the resource model was anticipating. So obviously another good outcome.”
The Moss Gold Project currently hosts an updated mineral resource estimate of 1.535 million ounces (Moz) of gold (Indicated) at 1.23 g/t Au (gold) and 5.198 Moz of gold (Inferred) at 1.11 g/t Au, based on data from January 2024.
*On January 6, Technical Analyst Clive Maund highlighted the company’s accomplishments and potential in an analysis published on Streetwise Reports.
According to Maund, “Goldshore Resources has already delineated a substantial gold resource in Ontario, its flagship Moss Project, which I believe is well on its way to becoming a district-scale project with very significant expansion potential.”
Expanding Mineralization at the Surface
The primary focus of the drill program is to expand mineralization within the top 100–200 meters from the surface, targeting areas currently modeled as waste.
Henrichsen said it’s important to know that the PEA can be improve on.
“Quite often in PEAs, you have an economic performance and it kind of degrades as you move through the studies into pre-feasibility and feasibility,” he said. “Our intention here is to hopefully be able to improve upon that as we move forward, and these drill results will be a big part of that.”
Henrichsen said the company will have plenty of future catalysts over the next several months as the PEA is expected at the end of the quarter and they will continue to release new drilling results “probably on a two-week cadence.”
In his analysis, Maund emphasized that the Moss Project benefits from strong infrastructure, proximity to major highways, and reliable power supply, which collectively enhance its operational efficiency and long-term prospects.
“Goldshore Resources has already delineated a substantial gold resource in Ontario, its flagship Moss Project, which I believe is well on its way to becoming a district-scale project with very significant expansion potential,” Technical Analyst Clive Maund wrote.
“A high-grade starter pit will provide significant cash flow to fund the project’s advancement,” he noted.
This cash flow is expected to support the development of the Moss Project, which features favorable metallurgy with high gold recovery rates.
Additionally, Maund pointed out that the project’s open-pit configuration contributes to relatively low extraction costs, further enhancing its economic viability.
The company’s capital structure was another focal point of Maund’s analysis. While acknowledging the seemingly high number of shares outstanding, he explained that “more than half of them are owned by board and management, institutional investors, and strategic investors,” which underscores a strong alignment of interests between stakeholders and management.
Lastly, Maund observed the positive trajectory of Goldshore’s stock performance, noting that its steady growth had culminated in a strong base pattern, setting the stage for future gains. He concluded that the company’s achievements over the past year, combined with the broader strength of the precious metals market, provided a compelling opportunity for investors.
The Catalyst: Gold’s Best Start Since 2023
Gold is continuing to shine as a hedge against inflation and instability. The gold market is experiencing its best start since 2023 and is on track for its strongest monthly performance since September, which could signal another big year for the metal, Neils Christensen reported for Kitco.
Eric Strand, founder of the boutique precious metals firm AuAg Funds, said he expects gold prices to surpass US$3,000 an ounce this year, Christensen wrote.
“We predict that gold will break the US$3,000 level during the year and potentially finish even higher, with a realistic target of US$3,300,” Strand said.
Gold prices declined more than 1% on Monday after hitting near-record highs last week, Anmol Choubey reported for Reuters on Monday.
Spot gold was down 1.3% at US$2,736.75 per ounce Monday afternoon after prices had risen to near-record high levels on Friday. U.S. gold futures settled 1.5% lower at US$2,738.40 per ounce.[OWNERSHIP_CHART-10291]
Sharp declines in global equity markets have driven risk-averse moves across other asset classes, with U.S. Treasury yields dropping to three-week lows and the dollar index hitting its lowest levels since December 18, Choubey reported.
“This (sell-off) is very much driven by the broad equity market rather than just the normal interest rates or currency. We’re seeing a bit of a liquidity crunch,” Bart Melek, head of commodity strategies at TD Securities, told Choubey.
Ownership and Share Structure
The company provided a breakdown of its ownership, where 6.4% of Goldshore is held by management and directors.
Institutions own approximately 15% of the company. The largest shareholder in this category is Sprott Asset Management LP, with 4.46%. Strategic shareholders own 35%. Brian Paes-Braga is the largest shareholder in this category, with 18.1%.
The rest is with retail investors.
The company reports that there are around 298.9 million shares outstanding, while the company has a market cap of CA$85.88 million as of January 27. It trades in a 52-week range of CA$0.09 and CA$0.40.
Sign up for our FREE newsletter at: www.streetwisereports.com/get-news
Important Disclosures:
- Goldshore Resources Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Goldshore Resources Inc.
- Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
For additional disclosures, please click here.
* Disclosure for the quote from the Clive Maund article published on January 16, 2025
- For the quoted article (published on January 6, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.
- Author Certification and Compensation: [Clive Maund of clivemaund.com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts’ Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed
Clivemaund.com Disclosures
The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.
( Companies Mentioned: TSXV: GSHR;OTCQB: GSHRF ;FWB: 8X00, )
Source: https://www.streetwisereports.com/article/2025/01/28/explorer-expands-high-grade-gold-in-ontario.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.