OTTAWA, ON, July 9, 2020 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to
announce that crews and a drill rig have been mobilized for the
second phase of drilling at the Shot Rock Property ("Shot Rock") in
Nova Scotia. Shot Rock is
being explored for low sulphidation epithermal (LSE) gold
mineralization. Northern Shield can earn up to an 80% interest in
Shot Rock.
The phase two diamond drilling program is designed to follow up
on the discovery of high-grade gold mineralization intersected
during the maiden drilling program on the Highway Zone at Shot Rock
(see press release dated April 29,
2020). The maiden drilling program was highlighted by
a 2.45 metre intersection of 12.6 g/t Au including a 1.0 metre
interval of 17.3 g/t Au and 2.4 g/t Ag over 3.15 metres including
22.1 g/t Au over 0.4 metres.
The phase two program will consist of eight to ten drill-holes
totalling 2,500 to 3,000 metres. Drilling will focus on four target
components (see maps for locations):
- High-grade intersection from Phase 1 (Figure 1)
Phase two drilling will aim at intersecting the structure that
hosts the high-grade mineralization at deeper and shallower
levels.
- Zone of Reduced Magnetic Signature (Figure 1 &
2)
Alteration associated with the mineralization is now
known to degrade the magnetism of the hosts rocks. Several drill
holes will test an area of reduced magnetic signature that
coincides with structures deemed to be of importance.
- Crystal Hill Magnetic Anomaly (Figure 1)
One hole
will test a pocket of lower magnetic signature located between the
Highway Zone and Crystal Hill.
- Southern-most Stockwork Zone (Figure 1)
One
drill-hole will test the southern-most mineralized structure in the
Highway Zone. Abundant mineralized stockwork veining is exposed on
the southeast flank of the hill at the Highway Zone. This zone was
targeted in the first phase of drilling but it is now believed that
drill-hole undercut this structure.
"We are eager to get back to Shot Rock and follow up on the
high-grade intercepts from the first phase of drilling. Hitting
those grades in the maiden drill program bodes well for phase 2 and
provides confidence that there is a lot more to be found at depth
in the Highway and Crystal Hill
area."
-
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.
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 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.