Winshear Expands the Yanamayo and Coritiri Gold Anomalies at its Gaban Gold Project in the Puno Gold Belt, Peru

VANCOUVER, British Columbia, Oct. 14, 2021 (GLOBE NEWSWIRE) --

Winshear Gold Corp. (TSX-V: WINS) is pleased to report that it has received gold assay results from an additional 216 bedrock channel samples taken in late June, July and September of 2021 at the Gaban Gold Project in south­eastern Peru.

Gaban is located in the Puno Orogenic Gold Belt ("POGB") at the juncture of the San Gaban and lnambari Rivers. The two rivers drain into the Madre de Dios basin 38 kilometres (“km”) to the north where extensive alluvial gold mining covers a 960 square kilometre area (Figure 1). Outcropping gold-bearing veins and shear zones at Gaban are hard-rock sources for the alluvial gold being mined by informal miners on the Gaban concession itself, and possibly for the alluvial gold being mined from the large Madre de Dios basin downstream. The Company continues to map and sample in the vicinity of its proposed drill sites to improve targeting of the drill holes currently being permitted.

Highlights

• Of the 216 new samples, 32 samples contain anomalous gold (greater than 0.05 grams per tonne gold (“g/t Au”));
• The highest value among the new samples is 4.18 g/t Au.
• The Yanamayo target contains a bituminous, pyritic and auriferous shear zone that is at least 80 m wide by 250 m long which may merge with the main Coritiri anomaly to the southeast (Figure 3).  
  • The Yanamayo target is only about 5 km from the town of San Gaban.
  • Downstream along the Yanamayo River from the mineralized outcrops artisanal miners are recovering alluvial gold nuggets (Figure 2).
• The new sampling has also added important details about the gold-bearing shear zones which will help improve drill hole targeting.
• This project has never been drill-tested; permitting is underway and on track.
  

Dr. Mark Sander, President of Winshear, commented: "The 216 new samples at Gaban were taken to improve our understanding of gold distribution in and around the Yanamayo and Coritiri anomalies. We have found strongly anomalous gold mineralisation in a bituminous, pyritic shear zone hosted by slates in the Yanamayo target area which has been extended to at least 80 m wide by 250 m long. We believe that the Yanamayo and Coritiri anomalies could well be contiguous, defining a single broad anomaly that is now over 2,200 m long and open to the northwest (Figure 3). No drilling has ever been performed at Gaban.