Goldshore Resources Inc Stock Price, News & Analysis

Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) has reported drill results from its summer program and provided a corporate update. Key highlights include:

1. Identification of a fault along the western edge of the Moss Gold Deposit, allowing focused exploration to expand the deposit westward.

2. Progress on the Preliminary Economic Assessment (PEA) with G Mining Services, including site visit and mineral resource model confirmation.

3. Strong share price performance, outperforming the GDXJ by 155% since February 6, 2024.

4. Significant insider support with approximately 6 million shares acquired in the open market from May to July 2024.

5. Scout drilling results from the Boundary Zone and Southwest Extension, providing valuable information for future exploration efforts.

Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) has secured CAD $4,875,000 through the early exercise of 37,500,000 common share purchase warrants at CAD $0.13 per share. These warrants, originally issued in November 2023 with a 36-month term, were part of a non-brokered private placement. CEO Michael Henrichsen stated that this funding will support the completion of the Preliminary Economic Assessment (PEA) expected in Q1 2025 and accelerate the company's strategic plan for the Moss Gold Deposit.

Additionally, Goldshore has issued 150,000 restricted share units (RSUs) to director Shawn Khunkhun, set to vest on July 29, 2025. These RSUs, issued under the company's Omnibus Incentive Plan, represent the right to receive common shares or cash equivalents upon vesting.

Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) has completed its 2024 summer drill program at the Moss Gold Project, exceeding expectations by drilling 2,780 meters across 12 holes, surpassing the initial 2,500-meter target. The program, finished ahead of schedule and under budget, focused on two key areas:

1. Boundary Zone Prospect: 7 holes, 1,571 meters
2. Southwest Drilling Zone Prospect: 5 holes, 1,209 meters

CEO Michael Henrichsen expressed satisfaction with the program's efficiency, highlighting a 600-meter step-out at the SW Zone and encouraging visual results at the Boundary Zone, including a new parallel shear zone. First assay results are expected in August. Additionally, Goldshore has engaged Investor Insights Systems Inc. for a 12-month digital marketing campaign starting July 22, 2024, with a $225,000 upfront fee.

Goldshore Resources has engaged G-Mining Services to conduct a Preliminary Economic Assessment (PEA) for its Moss Gold Project, aiming to optimize mine planning and infrastructure. This study, to be completed by Q1 2025, will assess project economics including cash flows and IRR.

Additionally, Goldshore has retained One-eighty Consulting Group to develop a regulatory strategy for streamlined project permitting, focusing on minimizing risks and building community support over the next three months.

Goldshore has also hired Native Ads for digital media services over a 24-month term at a cost of $150,000, pending TSX Venture Exchange approval.

Goldshore Resources announced new details regarding its communications program. The company has hired several service providers to enhance market communications and investor relations.

Independent Trading Group (ITG) will provide market making services from June 10, 2024, for a $6,000 monthly fee.

Earthlabs Media will develop content about Goldshore's activities for $75,000 over six months starting June 13, 2024.

DCWL Media Ventures will create a company video for $7,500.

Conrad Orzel will manage communications and investor meetings from July 1 to December 31, 2024, for $2,500 a month.

OGIB Corporate Bulletin will handle digital marketing for $40,000 over nine months starting June 25, 2024.

GRA Enterprises will provide marketing and awareness services for three months starting July 1, 2024, at a cost of $30,000.

The engagements comply with TSX Venture Exchange filing requirements.

Goldshore Resources has started its 2,500-meter summer drilling program in the highly prospective Moss Block area. This program targets the Boundary Zone and SW Extension, aiming to assess the potential growth of high-margin ounces from surface to 200 meters depth. The Moss Block represents 91% of the project's total Mineral Resource Estimate. Additionally, Goldshore has engaged several contractors to manage market communications and investor relations, including Conrad Orzel, OGIB Corporate Bulletin, and the National Inflation Association, with fees ranging from $2,500 monthly to $40,000 for specific terms.

Goldshore Resources is set to begin a 2,500-meter summer drill program on June 25, 2024, targeting two areas adjacent to its existing open pit. This initiative aims to enhance the Moss Block's Mineral Resource Estimate (MRE), which currently holds 91% of the project's ounces. The drill program will focus on the Boundary Zone and the SW Extension, with planned drills to evaluate and potentially expand the mineralized zones. Historical data indicates significant gold mineralization in these areas. The company is also engaging market communications and investor relations services to boost visibility and investor engagement.

Goldshore Resources announced a 12-month strategic plan for the Moss Gold Project. Key initiatives include launching a 2,500-meter drill program starting June 2024, completing a Preliminary Economic Assessment (PEA) by Q1 2025, and conducting district-scale exploration, including geochemistry and geophysics over 23 km of mineralized trends. The PEA will focus on a phased production approach, prioritizing internal rate of return (IRR) and minimizing initial capital expenditure (Capex). The company will also develop a permitting plan to advance Moss toward production and engage with indigenous communities. CEO Michael Henrichsen expressed optimism about the project's growth potential and development scenarios, including high-grade starter pits. Further strategic details will be disclosed in the coming weeks.

Goldshore Resources announced that Lutry Investments purchased 413,500 common shares at an average price of $0.266 per share, totaling $110,072.50. This acquisition, completed on June 3, 2024, through the TSX Venture Exchange, increased Lutry's total holdings to 17,425,583 common shares, representing approximately 6.7% of Goldshore's issued and outstanding shares. Prior to this, Lutry held 17,012,083 common shares and 10,000,000 share purchase warrants, representing a 6.5% stake. Post-acquisition, if all warrants are exercised, Lutry's control would rise to approximately 10.10%. The Purchased Shares were acquired for investment purposes, and future transactions will depend on market conditions.