OTTAWA, ON, March 3, 2021
/CNW/ - Northern Shield Resources Inc. ("Northern Shield" or
the "Company") (TSXV: NRN) is pleased to announce that a third
phase of drilling has commenced on 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 drill holes
totalling 2,500 metres, designed to test a series of well-defined
gold-silver targets identified from the recently competed
Controlled-Source Audio Magnetotellurics (CSAMT) geophysical
survey. The CSAMT survey helped model the geometry of this LSE
gold-silver system and the drill targets defined are consistent
with where one might expect the higher- grade mineralization to be
located. These targets are sub-vertical, deep-seated, resistive
features that the Company believes could represent auriferous
quartz veining and/or silicification along fault zones at the core
of a large LSE gold-silver system. The gold and silver
mineralization identified on surface at the Highway Zone and in the
Phase and 1 and 2 drill holes occurs within a silica cap,
stratigraphically above some of these CSAMT anomalies. This is
consistent with the typical geometry and zoning of an LSE
gold-silver system.
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.