Winshear Gold Discovers Multiple Mineralized Zones Within a 250m Wide Shear Zone in First Field Campaign at Its Gaban Gold Project, Peru

VANCOUVER, British Columbia, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Winshear Gold Corp. (“Winshear Gold” or the “Company”) (TSX-V: WINS) reports its first sampling results from the Gaban Gold Project located in the Puno Orogenic Gold Belt (“POGB”) in south-eastern Peru.

Winshear is conducting exploration to locate the hard-rock source of alluvial gold in the Yanamayo and Piquitiri rivers, which drain into the Madre de Dios basin. In 2018, a heli-borne geophysical survey was flown over Gaban as part of a systematic exploration program that outlined regional structures with the potential to host gold mineralization. To date five shear zones have been identified on the property.

The Company acquired the property in September 2019, and completed its first field campaign in October 2019, with the goal of identifying the most prospective sections of these newly identified structures. A second campaign was conducted in November / December 2019 and will be reported as results are received.

Key Points

• First field programme conducted by Winshear Gold focused on the Coritiri stream sediment anomaly.
• 81 channel samples of bedrock (1.0-2.5m in length) were collected;
  • 17 samples returned 0.1g/t – 0.49 g/t Au
  • 6 samples returned 0.5 g/t – 0.99 g/t Au
  • 7 samples returned 1.0 g/t – 4.99 g/t Au
  • 2 samples returned 5.0 g/t – 9.99 g/t Au
  • 1 sample assayed 15.75 g/t Au
• Highlights include 15.75g/t Au over 1m, 5.72g/t Au over 1.5m, 3.57g/t Au over 2.5m, and 5.7g/t Au over 1m.
• The mineralized area correlates strongly with an east-southeast trending geophysical target that is open to the east southeast and west northwest.
• Samples were collected from sheared sedimentary rocks, typically siltstones and shales / slates, with varying amounts of quartz veining.  The sediments are identified as belonging to the Ordovician San Jose Group.  Quartz veins vary in thickness from 1mm up to 80cm in width.
• Up to 3% sulphides (pyrite and arsenopyrite) are associated with the quartz veins
• The geology in the target area correlates well with other known deposits in the POGB including the Ollachea Project 40 km to the SW.
• Numerous old prospect adits were discovered in the area, some of which were up to 15m long.

Winshear Gold CEO, Richard Williams, commented “This is a great start to our work at Gaban.  The initial attraction of the project was the presence of anomalous gold-in-stream-sediment anomalies over a 5km- section of the Yanamayo creek (Map 4) in an area that has had very little historic exploration. These anomalies are located in a geological terrain that is quite similar to the nearby Ollachea Project in the POGB, which contains an estimated 1 million oz of reserves in a definitive feasibility study. It also is upstream from the 700km² Madre de Dios alluvial gold fields that support several tens of thousands of artisanal miners. The discovery of a 250m wide shear zone hosting gold mineralization at Gaban is very encouraging.”