OTTAWA, ON, Feb. 3, 2021 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to
announce that a third phase of drilling is planned to commence in
late February at the Shot Rock Property ("Shot Rock") in
Nova Scotia. Shot Rock is being
explored for low sulphidation epithermal ("LSE") gold-silver
mineralization. Northern Shield owns an 84% interest in Shot
Rock.
The drilling program will consist of five to seven drillholes
totalling 2,500 metres. The diamond drilling program is designed to
test a series of well-defined targets identified from the recently
competed Controlled-Source Audio Magnetotellurics (CSAMT)
geophysical survey. These targets are generally deeper than all
previous drilling at Shot Rock. Eleven collar locations were
selected for permitting to provide for flexibility with developing
knowledge as the drilling program advances. Permitting has been
received for seven of the eleven collar locations with the
remaining four pending approval.
The targets to be tested are deep-seated, very resistive
features that the Company believes could represent quartz veining
and/or silicification along fault zones at the core of a large LSE
gold-silver system. Specifically, CSAMT anomalies R1, R1A, and R2
(Figure 1) will be the focus of the drilling and these features
underlie the central portion of the Highway Zone. Much of the gold
and silver mineralization identified on surface at the Highway Zone
and in drill-holes is found within the silica cap above targets R1
and R2. The Company now believes that this mineralization
remobilised towards the surface from R1 and R2 by exploiting
weaknesses along dyke contacts.
"We believe that R1 and R2 are the most important components
of this LSE system that we have been looking for since the original
discovery of mineralized boulders in streams at Shot Rock.
Importantly, the trend of these features is consistent with that of
anomalous gold mineralization and pathfinder elements found in
drill core and of the large gold anomalous quartz veins intersected
in drill-holes 20SR-11, 12 and 16."
Ian Bliss –
President & CEO
Gold and silver mineralization has been found on surface over an
area measuring 700 meters by 1700 meters in the Highway Zone.
Approximately 1,500 meters further west, the 400 meter long Middle
Zone, hosts grab samples assaying up to 5.3 g/t Au and 22.1 g/t Ag.
The first phase of shallow drilling at the Highway Zone identified
the highest grades to date, including at intersection of 12.6 g/t
Au over 2.45 metres in drillhole 20SR-04.
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.
