Canadian Shield to Prepare NI 43-101 Technical Report on Estrella Gold-Silver Project, Peru
July 12 2010 - 7:45AM
Marketwired
Canadian Shield Resources Ltd. (TSX VENTURE: EXP) ("Canadian
Shield" or the "Company") has contracted SRK Consulting (U.S.) to
prepare a Technical Report, consistent with the standards of NI
43-101 on the Company's Estrella gold & silver property located
in the Central Peru polymetallic belt. The property contains 1,200
hectares and is located 130 km south of Huancayo in the Department
of Juancavalica. Canadian Shield holds a 100% interest in the
property.
The Estrella property contains a volcanic-hosted epithermal
gold-silver system with associated base-metal mineralization hosted
within a north-south trending graben. The property has a total of
615 surface rock samples and 33 drill holes totalling 5,800 meters
of drilling. Gold assays from outcrops and drill holes range from
0.2 - 54.0 g/t and average 0.44 g/t gold. Silver mineralization
assays range from 15.0 - 1,400 g/t and average 21.15 g/t silver.
Three different styles of mineralization are present within a 1,200
meter north-south by 200 meter east-west zone, which remains open
for expansion. The largest area of mineralization occurs as a
north-south trending, west dipping, irregular, stratabound zone
measuring 50 - 150 meters in thickness. This stratabound zone
contains variable grade gold and silver mineralization with
disseminated and vein hosted pyrite, tetrahedrite, galena and
sphalerite. The zone has been intersected along strike for 600
meters, and remains open to the north and south. It also remains
open up and down-dip. The second type of mineralization consists of
a flat-lying tabular zone 10 - 25 meters thick that is located at
or near surface. This flat lying zone occurs above the stratabound
zone. It measures approximately 200 meters east-west and 130 meters
north-south. The third type of gold and silver mineralization
cross-cuts both the stratabound zone and the flat-lying
mineralization. It occurs in north and northeast trending,
sub-vertical fault zones, which outcrop at surface. It has also
been intersected in drill holes, which extend north of the
stratabound zone for 600 meters. The sub-vertical zone locally
contains some of the highest grade mineralization on the property,
including drill intersections of up to 11 meters @ 311.2 g/t silver
and 0.59 g/t gold (RC-E10 from 43 - 54 m). It also remains open
along trend to the north and south and at depth.
About Canadian Shield Resources Ltd. (TSX VENTURE: EXP) Canadian
Shield is a precious metals exploration and development company
focused on strategically-located properties in Peru and Chile.
Canadian Shield has seven precious metal exploration projects in
Peru and one in Chile. Mr. Keith A. Laskowski, MSc., is a Qualified
Person for the purposes of National Instrument 43-101 Standards of
Disclosure for Mineral Projects of the Canadian Securities
Administrators, and has prepared, reviewed and verified the
technical information contained in this news release The Company's
shares are listed on the TSX Venture Exchange (Trading Symbol
TSX-V: EXP). Further information is available at Canadian Shield's
website: www.canadianshieldresources.com. The Shareholders recently
approved a name change of the Company to ESTRELLA GOLD CORPORATION,
which is expected to become effective August 1, 2010.
STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL
INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE
PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE
FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON
NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND
UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS
A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED
IN THE 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.
Contacts: Canadian Shield Resources Ltd. Keith Laskowski, MSc.
President (800) 362-2040 or (720) 272-6224 (416) 927-1222 (FAX)
klaskowski@canadianshieldresources.com
www.canadianshieldresources.com Investor Contact: First Canadian
Capital Dan Boase, Partner (416) 742-5600 x 232 (416) 742-6410
(FAX) dboase@firstcanadiancapital.com
www.firstcanadiancapital.com
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