Drilling Finds 25.89 G/T Gold Right Beneath Surface in Ontario

Source: Streetwise Reports 03/25/2025

Goldshore Resources Inc. (TSXV: GSHR; OTCQB: GSHRF ; FWB: 8X00) reported standout gold intercepts from its Moss Project in Ontario, including 25.89 meters at 1.15 g/t gold and a high of 15.8 g/t. Drilling also revealed copper potential. Read on for the full results and what they could mean.

Goldshore Resources Inc. (TSXV: GSHR; OTCQB: GSHRF ; FWB: 8X00) reported new assay results from its 15,000-meter winter drill program at the Moss Gold Project in Northwest Ontario, with drilling in the Southwest Zone continuing to show promising extensions of mineralized gold zones toward surface and beneath the current pit shell. The results aim to expand the mineral resource estimate by converting lower-grade or unmodeled material into potentially mineable ore.

Among the highlights, drill hole MMD-25-147 intersected 25.89 meters at 1.15 grams per tonne (g/t) gold (Au) from 84.91 meters depth, including 3.17 meters at 6.8 g/t Au and a higher-grade interval of 1.18 meters at 15.8 g/t Au. Additionally, MMD-25-140 returned 15.0 meters at 1.68 g/t Au from 456 meters depth, including 1.0 meter at 11.6 g/t Au. The reported intercepts suggest potential for both resource growth and improved strip ratios by bringing mineralization closer to surface.

Goldshore CEO Michael Henrichsen stated in a news release, “Drilling at the Southwest Zone continues to demonstrate the upside of the Moss Gold Deposit, where results to date have brought mineralized shears toward surface, effectively converting waste to ore. Additionally, mineralization has been extended beneath the conceptual open pit, highlighting the potential for significant resource growth with additional drilling.”

Drill holes MMD-25-140 and MMD-25-142 targeted both the extension of high-grade shears below the pit and the near-surface mineralization. MMD-25-142 intersected 8.0 meters at 2.53 g/t Au from 125 meters depth, including 4.2 meters at 4.57 g/t Au. Another intercept within this hole included 33.9 meters at 0.83 g/t Au from 192 meters, with a high-grade inclusion of 0.65 meters at 23.8 g/t Au.

Goldshore also reported an exhalative sulphide horizon containing gold and copper mineralization in hole MMD-24-137, which returned 14.0 meters at 0.62 g/t Au and 0.41% copper (Cu) from 196 meters. While this style of mineralization does not appear continuous, it raises the potential for additional deposit styles within the Moss claim area, including volcanogenic massive sulphide (VMS) targets.

All samples were prepared by ALS Geochemistry in Thunder Bay and analyzed in Vancouver using industry-standard fire assay and ICP-MS methods. Quality assurance and control measures were independently designed and evaluated by Orix Geoscience Inc.

Digging Into Gold Exploration and Development

The gold exploration and development sector continued to attract investor interest in March as bullion prices set new records and market commentators highlighted increased capital flows into gold equities. On March 15, Energy and Capital reported that gold reached an all-time high of US$3,017 in early morning trading. Writer Alex Koyfman reflected on the significance of this milestone, noting that “last time gold spiked this dramatically was more than 40 years ago.” He questioned whether gold remained a traditional hedge or had become “a speculator’s playground,” particularly in light of its sharp gains over the prior 16 months.

A March 16 update from 321 Gold reinforced bullish sentiment in the sector, noting that technical indicators suggested a continued upward trend for both gold and gold equities. The publication stated that “we expect a significant breakout to occur in the GDX,” referring to the VanEck Junior Gold Miners ETF, and projected a sharp rise in the next wave of the broader gold bull cycle. Analysts highlighted bullish chart patterns and emphasized strong upward momentum in mining stocks.

By March 18, Stockhead reported that gold had broken decisively above the US$3,000 threshold, stating that “the price of gold also shot to a new high, pushing past US$3,000 an ounce.” The publication attributed the move to a combination of geopolitical instability and investor demand for safer assets amid volatile equity markets. The article also noted that small-cap gold explorers were among the day’s stronger performers on the ASX.

That same day, Kitco published a commentary by Stewart Thomson, who argued that gold stocks were entering a period of substantial institutional accumulation. He wrote, “Gold stocks are poised to get an ongoing institutional tidal wave of capital,” suggesting that stagflation fears and market dislocations could drive significant capital into the sector. Thomson also pointed to historical parallels with the 1970s, when gold mining stocks “soared” as traditional equities declined. He emphasized strong technical setups and predicted continued capital inflows.

On March 20, Excelsior Prosperity provided a technical analysis of gold and gold equities, noting that bullion had reached a new intraday high of US$3,061.60 before closing at US$3,041.20. The report stated that gold had posted “record after record on the daily, weekly, and monthly gold charts,” and described the trend as one of “relentless pressure to the upside.” It also acknowledged the potential for a short-term correction, given that momentum indicators for junior gold miners were nearing overbought territory.

Goldshore Catalysts and Project Momentum

Goldshore’s active 15,000-meter drill campaign is targeting near-surface resource expansion within the top 200 meters of the conceptual open pit. According to the company’s March 2025 investor presentation, these efforts align with a broader strategy to enhance the project’s economics ahead of a preliminary economic assessment (PEA).

As of January 2024, the Moss Gold Project’s mineral resource estimate includes 1.535 million ounces (Moz) of indicated gold at 1.23 g/t Au and 5.198 Moz of inferred gold at 1.11 g/t Au. The current focus is to improve drill density and convert additional ounces within the pit shell, with an emphasis on reducing the strip ratio and increasing confidence in resource continuity.

Infrastructure remains a key strength of the Moss Gold Project, with direct access to highways, power (at US$0.06 per kilowatt-hour), rail, and ports. Additionally, Goldshore has signed two exploration agreements with First Nations communities and completed 3.5 years of environmental baseline studies, supporting the ongoing permitting process. The company has also engaged G Mining Services to conduct the upcoming PEA and One-Eighty Consulting to lead external permitting and community relations efforts.

The company holds US$15.5 million in cash (converted from CA$20.8 million as of December 31, 2024, using an average exchange rate of 1.34) and maintains a market capitalization of approximately US$77.6 million (converted from CA$104.1 million as of February 26, 2025).

Analyst Commentary on Project Scale and Share Positioning

*According to a January 13 report from Technical Analyst Clive Maund, Goldshore Resources had already outlined a substantial gold resource at its flagship Moss Gold Project in Ontario with the potential for significant expansion. Maund observed that the project was well on its way to becoming a district-scale development, citing its proximity to major highways and power infrastructure as strategic advantages. He also highlighted that a high-grade starter pit at Moss was expected to produce strong cash flow to support the project’s ongoing development. The resource remained open for further expansion, and favorable metallurgical recoveries were seen as key to its long-term viability. [OWNERSHIP_CHART-10291]

Maund further analyzed the company’s share performance, noting that despite strong gains over the past year, Goldshore’s stock had yet to break out from a long-term base pattern. He suggested this positioning, combined with anticipated strength across the broader precious metals sector, indicated potential for further gains. He referenced his initial coverage of the stock at CA$0.10, noting that by March 4, it had risen to CA$0.2650 (US$0.18).

On the capital structure, Maund acknowledged the relatively high number of outstanding shares at 330.7 million as of February 11 but emphasized that more than half were held by board members, management, institutions, and strategic investors. He pointed to this concentration of ownership as a sign of internal and institutional confidence in the company’s long-term outlook.

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. 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 335.7 million shares outstanding, while the company has a market cap of CA$104.19 million as of January 27. It trades in a 52-week range of CA$0.09 and CA$0.40.

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Important Disclosures:

1. 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.
2. 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.
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. 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.

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* Disclosure for the quote from the Clive Maund article published on January 13, 2025

1. For the quoted article (published on January 13, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.
2. 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/2025/03/25/drilling-finds-25-89-g-t-gold-right-beneath-surface-in-ontario.html