Three of five holes hit quartz veining and
intense alteration
OTTAWA, Feb. 28, 2020 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to provide an update on the inaugural drilling program
currently underway at the Shot Rock Property ("Shot Rock") in
Nova Scotia, Canada. Shot Rock is
being explored for low sulphidation epithermal (LSE) type gold.
To date, approximately 1,150 metres of the planned 2,000 to
2,500-metre diamond drilling program has been completed at the
Highway Zone, with the fifth hole now underway. Three hundred and
thirty samples are in, or in transit, to the lab for multi-element
analysis including gold, silver and base metals.
Three of the five holes (SR20-02, 04 and 05) have intersected
various forms of LSE quartz veining and associated intense
alteration on a semi-continuous basis from surface to down-hole
depths of approximately 132, 144 and 100 metres, respectively
(Note: drilling of hole SR20-05 is on-going). Veining and
alteration continue below these depths but on a more irregular and
less intense basis. Quartz veining, including veins exhibiting
colloform-crustiform-comb textured quartz with ginguro-like bands
and local notable sulphides and tellurides, were observed and are
features consistent with large economic LSE gold systems. An
intensely altered, 22-metre-wide quartz-feldspar porphyry dyke
containing blebs and veinlets of pyrite was also
intersected.
Drill-hole SR20-01 did not intersect significant veining or
alteration. Drill-hole SR20-03 intersected strong alteration with
some veining from surface to a down-hole depth of approximately 23
metres and then moderate, sporadic alteration to the end of the
hole (450m).
A drill plan map accompanying this release shows the collar
locations and drill hole traces for holes completed to date.
Pictures of representative sections of core from some of the
completed holes is also appended to this release.
"We are very pleased with the visual observations to date
from the Shot Rock drilling program. We see significant widths of
zones exhibiting strong alteration and quartz veining. We clearly
have a very active and long-lived system, key criteria in order to
"grow" a large mineralized system, and although complex, we are
beginning to get a much better idea of the geometry and critical
components of the gold system at Shot Rock. We look forward to
continuing the program and reporting analytical results to
shareholders as they become available."
- Northern Shield President and CEO,
Ian Bliss
The drilling program is contracted to Logan Drilling Group based
in Stewiacke, Nova Scotia, and is
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 Shot Rock
property in Nova Scotia,
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.