A Vancouver junior miner is running a planning scenario on what a gold mine could look like in the Shebandowan area, west of Thunder Bay.
In a May 17 news release, Goldshore Resources announced it has selected Ausenco Engineering Canada to conduct a preliminary economic assessment (PEA) of its Moss Lake Gold Project where the company has outlined two gold deposits.
Earlier this month, Goldshore released an updated gold resource estimate that showed the gold count has increased by 44 per cent since last estimate in November. It now stands at 6.0 million ounces at 1.02 grams per tonne within 183.6 million tonnes.
The estimate is in the inferred category, meaning it’s based on limited geological information. More closely space drilling needs to be done to upgrade the resource to a higher degree of confidence in the indicated and measured categories.
This estimate is a updated calculation of the Moss deposit and a maiden estimate of the East Coldstream deposit. The two deposits are 13 kilometres apart.
The Moss Lake Project is 100 kilometres west of Thunder Bay. The project boundary is one kilometre south of Highway 11.
Goldshore is active in a former gold mining camp that’s drawing renewed interest from a number of junior miners. The junior mining companies operating in the area believe the geology can support major deposits of gold, nickel, copper, zinc and iron.
The company maintains its 14,300-hectare property has the size, scale and potential to host high-grade open-pit mines on a a district scale with many targets to follow up on over a 35-kilometre mineralized trend.
For Pete Flindell, Goldshore’s vice-president of exploration, working with Ausenco is a no-brainer.
“We are pleased to be working with Ausenco on the Moss Gold Project’s PEA following our successful collaboration on the recent metallurgical test program,” he said in a statement.
“We feel that Ausenco understands our philosophy of integrated mine and process optimization to define the most efficient and cost-effective project. Ausenco also shares our vision for a project the company can realistically build, while preserving process optionality, tremendous upside and future mine life growth.”
Goldshore acquired Moss Lake from Wesdome Gold Mines in the middle of 2021. The two deposits at the time had a historic estimate of 1,473,700 ounces of indicated gold and inferred resources of 2,514,876 ounces of gold.
The project also features the former North Coldstream Mine in the Burchell Lake area, which once produced 103 million pounds of copper, 44,000 ounces gold and 440,000 ounces of silver.