Airborne Magnetic Survey also Identifies
Copper Porphyry Targets
OTTAWA, April 9, 2020 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSX-V: NRN) is pleased
to provide an update on the Root & Cellar Property ("Root &
Cellar", the "Project" or the "Property") in Newfoundland which is being explored for low
sulphidation epithermal gold-silver and copper porphyry
mineralization. Northern Shield has an option to earn up to a 100%
interest in Root & Cellar (see press release dated
May 21, 2019).
The first phase of processing of data from a high resolution
airborne magnetic survey conducted earlier this year has been
completed. As a result, repetitive linear magnetic features are
apparent and spatially associated with the gold mineralization,
particularly at the Conquest Zone. There is also evidence
that supports the potential for the existence of copper porphyry
targets at Root & Cellar. Prospecting of the more prominent
features and faults identified from the airborne magnetic survey,
along with an extensive soil sampling program, will commence as
soon a ground conditions and travel of personnel allow.
"The airborne magnetic survey at Root & Cellar has
resulted in us elevating the emphasis on the potential for other
models of mineralization at the Project. The historic presence of
copper on the Property also fits with this line of thinking. We
look forward to resuming regional work on the Property as soon as
circumstances allow. The goal is to do the necessary field work and
prepare the Project for the next phase of work, including
drilling."
Ian Bliss,
President & CEO
As illustrated in Figure 1, high-grade gold and gold silver
mineralisation found at the Conquest and Drop zones are coincident
with the edges of linear magnetic features surrounded by strong
lows which are interpreted to be areas of magnetic destruction.
Magnetic destruction, in which magnetite is converted to hematite,
is the result of silicification and clay alteration commonly
associated with porphyry deposit types. It is particularly apparent
in the Drop Zone where much of the previously reported silver and
tellurium anomalous soil samples correlate with patchy magnetic
lows.
Although the primary focus of exploration at Root & Cellar
has been for epithermal gold, the Property hosts significant copper
mineralization that does not appear to be directly related to the
gold. Seventy samples previously collected by the prospector (prior
to Northern Shield entering into the Option Agreement*) assayed
greater than 0.1% Cu with nine greater than 1% Cu and three greater
than 5% Cu. Mineralization in the samples displays similar
characteristics to a copper porphyry system. The airborne magnetic
survey shows a cluster of some of the better copper anomalies to be
located at the edge of a circular magnetic high; a significant
feature as copper porphyry systems often have magnetic cores.
Shot Rock Gold Project Update
Assay results from the
Shot Rock drilling program are still pending as in the current
COVID-19 pandemic environment many laboratory facilities are closed
or operating at reduced capacity. We are thankful that ALS is sill
operating some of its laboratories. We look forward to reporting
assay results from Shot Rock as soon as they become available.
The program was 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.
*Assays reported were not collected or assayed by
Northern Shield and hence have not been independently verified by
Northern Shield. However, copper mineralization including
chalcopyrite and bornite has been visually identified in the
field.
Forward-Looking Statements Advisory
This news release contains statements concerning the
exploration plans, results and potential for epithermal gold and
copper porphyry deposits , and other mineralization at the
Company's Newfoundland property,
geological, and geometrical analyses of the properties and
comparisons of the properties to known epithermal gold and copper
porphyry 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.