Northern Shield Resources (TSXV:NRN)
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Airborne Magnetic Survey Competed at Root & Cellar Property in Newfoundland
OTTAWA, Feb. 4, 2020 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that drilling has commenced at the Shot Rock Property ("Shot Rock") in Nova Scotia and that an airborne magnetic survey has been completed at the Root & Cellar Property ("Root & Cellar") in Newfoundland. Both properties 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 & Cellar.
The diamond drilling program is planned to consist of five to eight drill-holes totalling 2,000 to 2,500 metres with a focus on the Highway Zone. The Highway Zone represents an upright and intact LSE gold system as indicated by remnants of the silica cap and, has a substantial footprint with gold-bearing quartz veins (0.025 to 2.5 g/t Au) being found over an area measuring approximately 300 x 600 metres.
"We are excited to drill test the Shot Rock Property in Nova Scotia. It was only a little over a year ago that we made the first discovery of LSE gold in Nova Scotia and have spent the past 15 months defining four fluid cells over a 3.5 kilometre strike-length with indications that the system could stretch for over 6 kilometers. The project is located right next to the Trans Canada Highway with access to nearby power and rail. We are excited by the unusually high gold values present at the level of the silica cap, which bodes well for drill testing at depth."
- Northern Shield President and CEO, Ian Bliss
The drilling program is 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.
A high resolution airborne magnetic survey has also been completed at Root & Cellar and processing of the data is underway. The survey was flown by Prospectair Inc. of Gatineau, Quebec, and consists of 1,300 line-kilometres flown at 50 metre line spacing and a bird height of 20 metres.
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.