(Kitco News) - Goldshore Resources is advancing its Moss gold project in Ontario, Canada, with a focus on demonstrating its economic potential and attracting potential partners.
CEO Michael Henrichsen told Kitco Mining, "This is almost going back to my roots and the Newmont training that I had – how to get a project through, the various stage gates (when you're in a development scenario)." He emphasized the project's scale and location, noting it has "six million ounces in a single conceptual open pit" and is situated near the Trans-Canada Highway.
The Moss project currently boasts a 1.5 million ounce indicated resource at 1.23 grams per ton gold and 5.2 million ounces in inferred resources, totaling just under 7 million ounces. The company is working with G Mining, known for its "very solid work," to complete a Preliminary Economic Assessment (PEA) this quarter.
Henrichsen clarified the PEA is "not meant to be a marketing document. This is meant to be real guidance," providing a baseline for future improvements. He added, "We wanted to put a baseline scenario together where people can understand that this has the potential to be a top 10 gold producer in Canada."
Goldshore plans to de-risk the project technically and environmentally, as well as through positive engagement with First Nations partners. "Our job is to de-risk," Henrichsen stated. The company is aiming to enter a pre-feasibility study and formal permitting process by early 2027.
The PEA will focus on a 30,000-ton-per-day open-pit operation with an estimated 15-year mine life and average production of over 250,000 ounces per annum, with "the first five years of production, where we'll see obviously a higher production profile. To our mind, it should be north of 300,000 ounces per annum."
Exploration upside
Beyond the current resource, Goldshore sees significant exploration potential. Henrichsen noted, "Usually you get to a deposit of this size, and you find that the deposit is completely drilled, explorations complete around it. And what I found here is some of the most basic steps have never been taken." This includes geochemical and geophysical surveys over the deposit, as well as sampling the top of the bedrock.
The company is actively working on this exploration with the goal of finding additional gold deposits along 23 kilometers of structural corridors. Henrichsen stated his goal is to find "a million-ounce pod at two grams per ton out there? … Does this go over 10 million ounces?"
While the company is proceeding as if it will develop the project itself, it acknowledges the need for partners. "Now, obviously, we're very well aware that a mine of this scale is going to require partners." The company's goal is to demonstrate that "this company and this management team is shepherding a good asset forward in a thoughtful way on the permitting side on First Nations relationships."
The Moss project could be attractive to mid-tier companies seeking to increase their production profile or to larger companies looking for a long-term pipeline project.
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