Goldshore Resources (TSXV: GSHR) has begun a 21,000 metre drill program at their flagship Moss Gold Project in Ontario, which follows the recent completion of a $36.1 million funding round.
The drill program will place work to identify the optimal drill spacing to enable the upgrading of current inferred resources to higher confidence categories, while also providing samples for further metallurgical testing that will be used for the completion of a feasibility study.
Drilling at the Main and QES zones is set to consist of drill patterns on 12.5 metre spacing to enhance grade control and further de-risk the resource for production modeling.
Sponsored · First Phosphate Corp.
The 21,000 metre program is part of a larger goal of drilling 50,000 metres this summer, with that larger program to consist of 29,000 metres of resource expansion within an area measuring 8 kilometres by 6 kilometres, much of which consists of regional exploration.
“We’re pleased to kick off our grade control drill program, a key component of our use of proceeds from our recently closed financing. This program is critical for the development of the Moss project, defining the infill drill spacing requirements as we look towards advancing the project towards a Feasibility study on the back of our upcoming PEA in Q4.” commented Michael Henrichsen, CEO of Goldshore.
Goldshore Resources last traded at $0.38 on the TSX Venture.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
