79 Meters of Opportunity: Drill Results Exceed Initial Projections at Ontario Gold Project

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. 

For additional disclosures, please click here.

* 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.

Goldshore Resources Inc. (TSXV: GSHR; OTCQB: GSHRF ; FWB: 8X00) has released promising assay results from its ongoing 15,000-meter drill program at the Moss Gold Project in Northwest Ontario. The primary focus of this program is to expand mineralization within the top 100–200 meters from the surface, targeting areas currently modeled as waste. This strategy aims to enhance the resource model and potentially improve the strip ratio of the deposit.

Significant results from the initial drilling include a 79.0-meter intercept grading 1.28 grams per tonne (g/t) gold (Au) from 27.0 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.

Goldshore's CEO, Michael Henrichsen, remarked in the news release, "These results validate our thesis that the mineralization can be expanded within the upper zones, which could enhance the project's economic performance in its early years of operation." He also noted that the ongoing Preliminary Economic Assessment (PEA) by G Mining Services does not yet account for these results, underscoring their potential impact on future project metrics.

The Moss Gold Project currently hosts an updated mineral resource estimate of 1.535 million ounces of gold (Indicated) at 1.23 g/t Au and 5.198 million ounces of gold (Inferred) at 1.11 g/t Au, based on data from January 2024. The current drill program seeks to build upon these resources by testing gaps in the resource model and expanding the mineralized zones closer to the surface.

Gold in 2025: Investment Demand and Market Dynamics

According to Mining.com, on January 4, CPM Group projected a 13% increase in average gold prices to US$2,730 per ounce for the year, driven by rising investor interest amidst political and economic concerns. CPM stated that "investment demand drives prices," with global gold investors estimated to purchase approximately 44 million ounces in 2025, up from 32 million ounces in 2024. These purchases were anticipated to elevate prices to new records.

"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.

The broader macroeconomic environment further supported gold's appeal. Ahead of the Herd noted on January 4 that despite high gold prices averaging US$2,391 in 2024, gold miners' stocks remained undervalued.

The report highlighted that "gold-stock prices will inevitably follow" the higher gold prices, driven by miners achieving record profits, with sector earnings up significantly compared to previous years. This setup was described as a "contrarian opportunity" for revaluation within the gold sector.

By January 7, 321Gold emphasized the favorable conditions for gold miners. The article highlighted that a range-bound gold market near US$2,700–2,900 could still lead to multiple 20% rallies for gold mining stocks. Stewart Thomson of 321 Gold remarked, "This modest upside scenario could provide an incredibly favorable set-up for gold miners and silver bullion." He noted that ongoing geopolitical instability and elevated fiscal spending in the U.S. were likely to sustain investor interest in gold as a hedge against inflation and uncertainty.

Adding a geopolitical dimension, Quoth the Raven, on January 10, explored the unusual correlation between gold prices and the U.S. Dollar Index (DXY). The analysis suggested that this alignment could signal "global market stress," reflecting heightened demand for gold as a safe-haven asset amidst economic and political uncertainties. The article also cited potential "stealth QE" (quantitative easing) by the U.S. Treasury as another factor likely to sustain inflation and underpin gold prices.

On January 16, Reuters reported that gold prices had reached a one-month high, climbing to US$2,716.91 per ounce, supported by lower U.S. Treasury yields and weaker labor market data. Alex Ebkarian, COO of Allegiance Gold, stated, "The initial jobless claims were more than expected . . . we're seeing the attractiveness of gold re-invigorating." Market participants anticipated dovish monetary policy adjustments from the Federal Reserve, creating a supportive environment for non-yielding assets like gold.

Industry Insights on Goldshore's Growth Potential

*On January 6, technical analyst Clive Maund highlighted the company's significant accomplishments and future 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." He emphasized that the project benefits from strong infrastructure, proximity to major highways, and reliable power supply, which collectively enhance its operational efficiency and long-term prospects.

Maund also noted the financial advantages of the project, stating that "a high-grade starter pit will provide significant cash flow to fund the project's advancement." 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.

Key Milestones and Opportunities Driving the Moss Project

Goldshore's investor presentation states that the company has a strong focus on resource growth through strategic drilling. This drilling in the conceptual open pit is anticipated to add mineable material to the current model. This approach aligns with Goldshore's broader strategy of advancing the Moss Gold Project towards becoming one of Canada's top gold-producing operations.

The completion of the PEA, scheduled for Q1 2025, will offer further clarity on the project's economic potential. Notably, Goldshore's ambition to prioritize higher grades in the early production stages is expected to optimize cash flow and reduce risk. The project's well-established infrastructure, including access to roads, power, and skilled labor, provides a solid foundation for accelerated development.

With robust exploration programs, including the winter drilling campaign and ongoing community engagement efforts, Goldshore aims to build long-term value while addressing key permitting and environmental requirements. These initiatives collectively enhance the project's attractiveness to investors and position it as a noteworthy player in the Canadian gold mining sector.

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 4.59% or 13.72 million shares.

Strategic shareholders own 35%. Brian Paes-Braga is the largest shareholder in this category, with 11.48% or 34.31 million shares. 

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$93.93 million as of close January 16, 2025.