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Gold X2 Mining Inc. reports exploration and project-development updates for its 100%-owned Moss Gold Project in northwest Ontario, Canada. Company news centers on gold drilling, assay results, resource expansion and conversion work, and mineralized zones such as QES and Superion within and around the project's RPEEE pit shell.
Recurring updates also cover NI 43-101 technical reporting for the Moss preliminary economic assessment, annual Canadian disclosure documents, surface exploration along mineralized trends, geophysical and geochemical survey work, and management or sustainability appointments tied to advancing the project through permitting, community engagement, and environmental planning.
Goldshore Resources announces key personnel changes to strengthen its technical and financial capabilities. David Stone, a mining engineer with 40+ years of experience, joins the Board of Directors, replacing Brandon Macdonald. Sam Gibson, a finance professional with over a decade of experience in resource-focused institutional sales, is appointed as Vice President of Corporate Development. The company also granted 6,950,000 stock options at $0.38 per share and 2,637,500 restricted share units to directors, officers, employees, and consultants.
Goldshore Resources has awarded contracts for its winter exploration programs at the Moss Gold Project. The company plans a 15,000-meter diamond drilling program focusing on expanding mineral resources within the top 200 meters from surface of the conceptual open pit. Laframboise Drilling and Forages Technic-Eau will conduct drilling operations, while Abitibi Geophysics will handle geophysical surveys. The exploration includes a discovery-focused program covering 23 kilometers of prospective structural corridors, featuring up to 200 sonic drill holes and extensive geophysical surveys. A Preliminary Economic Assessment is scheduled for Q1 2025.
Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) has announced plans for a discovery-focused winter exploration program aimed at defining drill targets along 23 kilometers of prospective structural corridors near the Moss Deposit. The program will include:
1. Geochemical sampling using a light sonic drill rig to sample the top of bedrock on 50-100 meter centers along 400-800 meter spaced lines.
2. Geophysical surveys consisting of a 40-line-kilometer pole-dipole IP survey over the Moss Deposit and a 235-line-kilometer gradient array survey across the prospective corridors.
The exploration will focus on areas with extensive till and muskeg cover, which have not been systematically explored before. The company aims to have drill-ready targets by 2025, with drilling planned for the winter season of 2025-2026.
Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) has announced positive assay results from its 2024 field programs, focusing on extending mineralization along the Moss trend and evaluating the Kawa trend. Key findings include:
1. Discovery of high-grade mineralized areas north of the Moss Deposit, with grab assays of 15.4 g/t Au and 10.5 g/t Au.
2. A new mineralized shear near the Southwest Zone, returning a surface assay of 12.3 g/t Au.
3. Expanded mineralized intercepts at Moss Nose and Kawa prospects, with values up to 7.88 g/t Au over 0.65m.
4. Mineralization identified over 4.5km along the Kawa trend, with channel samples returning 0.92 g/t over 2.85m.
The company plans further exploration, including top of bedrock sampling and geophysical surveys, to develop robust drill targets along the 23 km of prospective structural corridors in the Moss Deposit area.
Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) has identified resource expansion targets at the Moss Deposit, potentially increasing the gold ounce profile and reducing the strip ratio. The current resource stands at 1.54 million ounces of Indicated gold resources at 1.23 g/t Au and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au. Five targets have been defined within the top 200m from surface, representing three expansion strategies:
- Strategic infill drilling
- Lateral extension of known mineralized shear zones
- Extending deep mineralized shear zones towards the surface
The company is finalizing a 15,000-meter drilling program to test these targets, aiming to expand the Mineral Resource Estimate (MRE) and potentially improve the deposit's economic performance.
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.