OTTAWA, ON, March 30, 2021 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to
provide an update on the Root & Cellar Gold-Silver Property
(the "Property") in Newfoundland.
The Company can earn a 100% interest in the Property which is being
explored for epithermal gold-silver mineralization.
The Company has increased the size of Root & Cellar
Gold-Silver Property through staking from 30 square kilometres
(when it acquired an option on the Property in 2019) to over 224
square kilometres (Figure 1), spread over three claim blocks.
Approximately 50% of the total claims are owned 100% by Northern
Shield, the remainder are subject to the Root & Cellar Option
Agreement (press release May 19,
2020). In total, the claims cover a 30 kilometre
strike-length of a district scale structure that hosts the Drop
Zone with up to 45 g/t Au and 1,360 g/t Ag, (see press
release May 21, 2019), the
recently discovered Windfall Zone with up to 17 g/t Au and
53 g/t Ag, (see press release January
30, 2021) and the Braxton-Bradley Showing
with up to 2.3 g/t Au and 137 g/t Ag, 1.9% Zn and
1.7% Cu (see press release May 21,
2019). Two additional parallel structures,
totalling a further 25 kilometres, that host gold anomalous till
and lake sediment samples previously collected as part of
government surveys, were also staked.
"The driving force behind this significant increase in the
Property was the continued discovery of high-grade gold and silver
within the Property based on last years fieldwork, in particular
the discovery at Windfall. The Windfall mineralization is related
to an ENE trending fault zone and is exposed over a 200 metre
thickness at this point. The Drop Zone and Braxton-Bradley showings
are located along the same structure and have similar geochemical
signatures. Many of the gold anomalous soil samples collected by
Northern Shield last year, also fall along these structures (Figure
2). It is quite clear from our own soil samples and from the
prospector's past work following up on regional, government
collected till samples, that gold anomalous soil and till samples
are generally a reliable indicator of nearby gold in
bedrock."
Ian Bliss – President &
CEO
Line-cutters will be mobilized next week to the Property to
prepare a grid for ground geophysics (Spectral IP/Resistivity)
which is anticipated to commence at the end of April. If snow melt
allows, prospecting will also commence along the structure within
the new claims and to follow up on distinct gold soil anomalies
along the structure within the original Property boundary.
Shot Rock
The fourth hole is underway at Shot Rock
with the program approximately halfway through the planned
meterage.
The press release was reviewed 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 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.
