Northern Shield Resources (TSXV:NRN)
Historical Stock Chart
6 Months : From Apr 2019 to Oct 2019
OTTAWA, May 15, 2019 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that the initial phase of a multi-phase exploration program is underway at the Shot Rock Gold Property (the "Property") in Nova Scotia, which is being explored for epithermal gold mineralization. Northern Shield can earn up to an 80% interest in the Property.
The focus of the first phase will be on mapping and detailed sampling of the quartz veins and alteration zones. The mapping is being completed by a geologist well versed in epithermal systems and guided by prospector Patrick Bellefontaine, whom continues to discover abundant epithermal quartz vein material. Subsequent to the last press release dated May 1, 2019, significant new outcropping and sub-cropping of crustiform and/or colloform banded quartz veins have been found. Some of the veins are over one meter in width (see photo).
Despite being on the ground for only a few days, the mapping crew are already providing key geological and structural information that, amongst other things, can be linked to features in the airborne magnetic survey results. Other similar features will now be subject to prospecting and sampling. Several hundred samples are being shipped to the lab for analysis.
"We are glad to be on the ground again with a full exploration program and I am very happy with the early reports from the field. It's hard not to be excited when I get calls from the prospector in the field saying he is tripping over quartz vein material everywhere", said Northern Shield President and CEO, Ian Bliss. "It certainly appears to be a very large system and we are now beginning to get a better understanding of the structural controls."
The exploration programs are being overseen by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101.
Northern Shield Resources Inc. is a Canadian-based company focused on generating high-quality exploration programs with experience in many geological terranes. It is known as a leader in executing grass roots exploration program for Ni-Cu-PGEs and utilizing expertise and innovation toward working on other deposit types. Seabourne Resources Inc. is a wholly-owned subsidiary of Northern Shield focussing on epithermal gold and related deposits in Atlantic Canada and elsewhere.
Forward-Looking Statements Advisory
This news release contains statements concerning the exploration plans, results and potential for epithermal gold deposits, and other mineralization at the Company's Nova Scotia properties, geological, and geometrical analyses of the properties and comparisons of the properties to known epithermal gold deposits in Nevada and elsewhere, and other expectations, plans, goals, objectives, assumptions, information or statements about future, conditions, results of exploration or performance that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.
Although Northern Shield believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward‑looking statements because Northern Shield can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Northern Shield and described in the forward‑looking statements or information. These risks and uncertainties include, but are not limited to, risks associated with geological, geometrical and geophysical interpretation and analysis, the ability of Northern Shield to obtain financing, equipment, supplies and qualified personnel necessary to carry on exploration and the general risks and uncertainties involved in mineral exploration and analysis.
The forward-looking statements or information contained in this news release are made as of the date hereof and Northern Shield undertakes no obligation to update publicly or revise any forward‑looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Northern Shield Resources Inc.