Geophysics Points Toward System Continuing to
Depth
OTTAWA, March 23, 2020 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to provide an update on the inaugural drilling program 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, eight drill-holes totalling approximately 2,189 metres
of the planned 2,000 to 2,500 metre diamond drilling program have
been completed at the Highway Zone. Drilling has focussed on areas
of near surface alteration and veining. In light of the global
COVID-19 pandemic, management felt that it was prudent to allow
contractors to return home to be with their families during the
COVID-19 pandemic, while travel conditions still allowed. Further
drilling is planned subsequent to the receipt of assays.
"While we are encouraged by the early visual
observations of our Phase I drill program at Shot Rock, management
is focused on the safety and security of its personnel during this
unusual period. This pause will also allow our team to incorporate
future assays in our attempt to vector into a potential discovery.
Drilling will resume when it has been deemed safe to do
so."
-
Ian Bliss, President &
CEO
Much of the alteration and veining intersected in the first
phase of drilling is hosted in a series of gabbro dykes. The
epithermal fluids appear to be exploiting the same structural
weaknesses as the dykes which are easily fractured and infiltrated
by the fluids due to their brittle nature. During the alteration
process, magnetite is converted to hematite and other non-magnetic
minerals causing the altered dykes to have a markedly lower
magnetic signature than their unaltered counterparts. Such
magnetite destruction processes are commonly seen in low
sulphidation epithermal systems. Drilling will resume when deemed
appropriate and will focus in on continuing to follow areas of
alteration and veining to depth.
Modelling of the previously completed high-resolution airborne
survey data shows progressive magnetite destruction to depths
beyond 300 meters, in several areas immediately north and east of
drill-holes 20SR-02, 04 and 05 (see press release February 28th). These areas could
represent the down-dip continuation of the alteration and stockwork
that were intersected in the above-mentioned drill-holes.
Drill-hole 20SR-06 was dominated by two intervals of generally
highly potassic altered gabbro dykes (and lesser ultramafic dykes)
hosted in propylitic altered siltstones with sections of
brecciation and silica altered siltstones . Drill-hole 20SR-07
appears to have undercut the surface mineralization it targeted and
the last hole 20SR-08, intersected strongly altered gabbro dykes
with local colloform banded veins until the hole was abandoned due
to technical difficulties.
Approximately 883 assays are pending from the drill-program.
An update on Root & Cellar will be provided shortly.
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.