OTTAWA, Jan. 16, 2020 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to provide an update on exploration at the Company's two
flagship properties, the Shot Rock Property ("Shot Rock") in
Nova Scotia and the Root &
Cellar Property ("Root & Cellar") in Newfoundland; both of which are being explored
for low sulphidation epithermal (LSE) gold mineralization. Northern
Shield can earn up to an 80% interest in Shot Rock and 100% in Root
and Cellar.
"We are very happy to be drilling Shot Rock shortly and eager to
see the core," states Northern Shield President and CEO,
Ian Bliss. We are also most
encouraged by what we keep seeing from the progress at Root &
Cellar. This project is rapidly catching my attention the more we
work on it," continues Mr. Bliss.
Shot Rock
The logistics are underway for a 2,000 to
2,500 metre diamond drilling program anticipated to commence the
last week of January with some initial results expected by early
March. The program is planned to consist of 5- to 8 drill-holes
with a focus on the Highway Zone and 1 or 2 drill-holes planned for
the Middle Zone.
Northern Shield and prospector Patrick
Bellefontaine discovered LSE gold mineralization in an
outcrop at Shot Rock in the fall of 2018. The discovery, the first
known of its kind in the Province, was made within a few hundred
metres of the Trans-Canada Highway. Since then the Company and its
consultants have diligently outlined four epithermal gold systems
of which the Highway Zone has a substantial foot-print with
gold-bearing quartz veins (0.025 to 2.5 g/t Au) being found over an
area measuring approximately 300 x 600 metres. Importantly, the
Company identified outcrops which are believed to represent a
silica cap, an essential component in LSE gold systems. This is
significant as the mineralized vein network in LSE gold systems is
typically located directly below the silica cap and it confirms the
relatively high level of exposure at Shot Rock and that the system
is likely largely intact.
The drilling program will be Contracted to Logan Drilling Group
based in Stewiacke, Nova Scotia
and will be overseen by Christine
Vaillancourt, P. Geo., the Company's Chief Geologist and a
Qualified Person under National Instrument 43-101.
Root & Cellar
Permitting has been received for
trenching and a high resolution airborne magnetic survey at Root
& Cellar. The magnetic survey will commence as soon as a window
of stable weather can be predicted but is anticipated to be
completed in January.
Permitting has also been received for a planned trenching
program. The trenching program will commence on completion of the
airborne survey and will be expanded to test several large and
distinct soil anomalies (see press release dated October 10, 2019) at the Conquest and Drop Zones.
Of particular interest is a 1.4 kilometre long, 200 to-300 metre
wide gold-in-soil anomaly that is bounded on the south by the
gold-bearing Conquest Zone (up to 47.9 g/t Au) and Rhyolite Dome
and to the north by several previously collected gold anomalous
rhyolite boulders. The soil survey also clearly defines the Drop
Zone to be distinctly anomalous in Au, Ag and Tellurium and would
suggest 3 to 4 east-west trending parallel zones. In both
cases the soil geochemistry mimics that of the known mineralization
in the showings.
Prospecting prior to the end of 2019 located outcrops and
boulders of particular interest within both soil anomalies that are
generally visually consistent with other known mineral occurrences
within Root & Cellar. These samples have been submitted to the
lab for assay.
The technical programs are being overseen by Christine Vaillancourt, P. Geo., the Company's
Chief Geologist and a Qualified Person under National Instrument
43-101. Samples cited were analyzed by ALS Global in Sudbury, Ontario and in Vancouver, BC, for Au by Fire Assay with
ICP-AES finish and base metals by four acid digestion and ICP-AES.
All standards and duplicates by ALS meet targeted values.
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 and Newfoundland
properties, geological, and geometrical analyses of the properties
and comparisons of the properties to known epithermal gold deposits
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.