TORONTO, CANADA (January 18, 2021) – Golden Share Resources Corporation (“Golden Share” or the “Company”) (TSX-V: GSH) is pleased to provide updates for its 100% owned portfolio of projects which comprises the Band-Ore gold project, Ogoki diamond project and four other projects with base and/or precious metals exploration potential (Sandridge, Kagiami, Petawanga, and Ratte Lake).
Golden Share’s focus in 2021 will be the Band-Ore gold project. Proposed work programs include a project-wide high-definition drone magnetic survey, IP orientation surveys followed by diamond drilling. The goal is to gain a better understanding of the local geology and structures to assist in drill hole targeting, and to upgrade the Band-Ore No.4 Zone historical mineral resource to a current mineral resource in accordance with 43-101 compliant inferred resources. Golden Share recently received exploration working permits for geophysical and drilling at Band-Ore.
Ogoki, Sandridge, and Kagiami projects have drill ready targets and received exploration work permits for winter drilling programs. Because of the COVID-19 Pandemic, Golden Share considers it appropriate to postpone the drilling programs at Ogoki and Kagiami to winter 2021-2022. Golden Share is closely monitoring the unseasonably mild winter conditions to date and the ongoing Pandemic and hopes to be able to conduct the drilling program at Sandridge this winter if conditions warrant.
Golden Share has planned a VTEM/magnetic survey at the Petawanga project, which will be used to guide follow-up groundwork at the known historical sulphide occurrences and along strike on relatively untested alteration and geophysical targets. Golden Share has reached out to the local First Nation for its consent.
At the Ratte Lake project, Golden Share received exploration permits for a proposed program of grid line cutting, ground HLEM/magnetometer surveys, and diamond drilling. Golden Share intends to conduct the proposed exploration work as quickly as possible and according to the market conditions.
It has taken us much longer than we would like. Finally, we have completed a transformative turn around at Golden Share with drill ready targets, which may lead to potentially exciting discoveries. We greatly appreciate the exceptional support and patience we have received from our shareholders since May 1, 2015, when Mr. Nick Zeng became the CEO with 516,667 shares. By the end of 2020, Nick increased his position to 3,956,378 shares to demonstrate his commitment to Golden Share and align himself with the other Shareholders.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Wes Roberts, P. Eng., a Qualified Person under NI 43-101.
The Company also announces it has granted incentive stock options to certain consultants to purchase up to an aggregate of 150,000 Common Shares at an exercise price of $0.20 per share, which the options are exercisable for 3 years.
WARNING: Certain statements in this press release may be forward-looking, including those with respect to the timing and content of up-coming work programs, geological interpretations, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks, uncertainties and assumptions. Actual results may differ materially from those currently anticipated in such statements. The Company relies upon litigation protection for forward-looking statements. The reader is warned against undue reliance on these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.