OTTAWA, ON, Oct. 28, 2020 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSX-V: NRN) is
pleased to announce that a controlled-source audiomagnetotellurics
("CSAMT") geophysical survey has commenced at its Shot Rock Gold
Project ("Shot Rock") in Nova
Scotia. This work was originally scheduled to begin in
September but was delayed due to changes in filing for work
exemptions under local COVID-19 policy. The Company is exploring
for low sulphidation epithermal ("LSE") gold mineralization and has
the right to earn an 80% interest in the Shot Rock Property.
"The CSAMT survey will help generate drilling
targets through a better understanding of the geological system at
Shot Rock. This type of geological survey has been successfully
used at identifying deep-seated structures associates with
high-grade feeder zones in many other LSE systems. Gold grades
within quartz veins can increase significantly over very short
distances in LSE systems and we are eager to get the results of the
CSAMT and 3D integration, and see if they corroborate with our
thoughts on the possible location of the high-grade shoots based on
geochemical zonation."
Ian Bliss –
President & CEO
The CSAMT survey is planned on 200 meters spaced lines for a
total of about 12 line-kilometres of survey. CSAMT measures
electrical resistivity of rock and is routinely used in exploration
for LSE deposits because data can highlight silicified structural
zones prospective for veins. Results from this geophysical survey
will be integrated with thorough ongoing 3D analysis of
geochemical, mineralogical, structural and infrared data collected
from all the drill-holes to date, along with other parameters, to
vector drilling towards the boiling zone and higher gold grades.
This work is being completed by third parties. Studies of subtle
textures and alteration assemblages from all completed drill-holes
suggests that much of the veining intersected to date has
characteristics that are consistent with being above or on the
fringe of the prospective boiling zone where higher gold grades
would be expected. Analysis of assay data alone from the first
two phases of drilling continues to show a strong and prolonged
history of epithermal fluid flow at the Highway Zone with multiple
phases of mineralization. The surface and high grade gold
mineralization intersected in drill-hole 20SR-04 appears to be in
the centre of the system whilst the large veins seen in drill-holes
20SR-11-12 and 16 with anomalous gold are on the periphery, with
other geochemical indications that the system continues at depth
beyond these drill-holes.
The survey program at Shot Rock was contracted to Clearview
Geophysics of Brampton, Ontario.
This press release and program has been reviewed Christine Vaillancourt, P. Geo., the Company's
Chief Geologist.
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 programs using a model driven
approach. Seabourne Resources Inc. is a wholly-owned subsidiary of
Northern Shield focussing on epithermal gold and related deposits
in Atlantic Canada.
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.