OTTAWA, ON, Feb. 18, 2021 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSX-V: NRN) is pleased
to provide an update on the latest batch of rock grab sample
results from the Root & Cellar Property in Newfoundland. The Company can earn a 100%
interest in the Root & Cellar Property.
Prospecting about 150 metres north of the main trench at the
Conquest Zone resulted in the discovery of a large angular boulder
assaying 26.4 g/t Au (Figure 3). Sampling of outcrop nearby
identified anomalous gold (20 to 691 ppb Au) in five of nine
samples with a similar geochemical signature as the boulder. The
prospecting was conducted to follow up on the 2020 soil grid
sampling, which showed the Conquest Zone area to be extensively
anomalous in gold (see Company press release dated
October 8, 2020). Clusters of these
gold-in-soil anomalies form sub-parallel trends, some of which are
a kilometre in length and generally coincident with linear magnetic
features (Figure 1). Magnetic inversion modelling shows the
magnetic low feature continuing to depth (Figure 2).
Known gold showings within the Conquest Zone occur within an
area measuring approximately 700 x 500 metres with gold showings
hosted by a variety of intensely altered host rocks that are
generally characterized by stockwork quartz veining (Figure 4) and
brecciation. Visible gold has been previously noted in a channel
sample from the main trench. Soil sample assay results suggest the
Conquest Zone could continue a further 700 metres to the east.
A crew will be mobilized to the Property shortly to cut a grid
covering the Conquest and Windfall zones in preparation for a
ground geophysical survey.
To date, 240 rock samples previously collected from the Root
& Cellar Property assay greater than 0.1 g/t Au with 50 samples
greater than 1 g/t Au. The styles of mineralization and geochemical
signature are quite variable but appear to represent a deformed
transitional meso- to epithermal stockwork vein and vein breccia
gold-silver system locally associated with galena, sphalerite,
copper and tellurium. The veins at Windfall (1.5 km to the north of
the Conquest Zone), which are larger than those seen elsewhere on
the Property, also contain an orange-coloured manganese carbonate
which could be important as this mineral is known to occur in some
high-grade deposits.
"This is our second discovery of high-grade gold brought
about by following up on the soil sample results which seem to be a
reliable indicator of gold in the underlying bedrock. The abundance
of gold within the Property and its variable nature and signature
is beginning to point to a hybrid meso- to epithermal
gold-silver system at Root & Cellar, perhaps not dissimilar to
some of the gold occurrences in the Golden Triangle of BC."
Ian Bliss –
President & CEO
The program and press release were overseen by Christine Vaillancourt, P. Geo., the Company's
Chief Geologist and a Qualified Person under National Instrument
43-101. Samples from the program were analyzed by Eastern
Analytical Ltd of Springdale
Newfoundland for Au by Fire Assay with ICP-AES finish. All
standards, blanks and duplicates meet targeted values.
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 Root &
Cellar Property, geological, geophysical 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.
