OTTAWA, ON, June 15, 2021 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to
provide an update on the third phase of drilling at its Shot Rock
Gold Project ("Shot Rock") in Nova
Scotia and progress on the geophysical survey at Root &
Cellar ("Root & Cellar" or the "Property") in Newfoundland.
Update on Shot Rock
To date, eight diamond drill holes, 20SR-17 through 20SR-24,
have been completed in the Phase 3 drilling program (see Figure 1),
totalling just over 3,400 metres. The first four drill-holes were
located at the base of the hill in the Highway Zone and although
visually prospective quartz veins were intersected (Figure 2a),
these were only weakly anomalous in gold. The four drill-holes
drilled from the top of the hill intersected abundant
crustiform-colloform banded quartz-adularia-pyrite veins (Figure
2b-2c) but were only moderately
anomalous in gold with a high of 1.8 g/t Au over 0.8 metres in hole
21SR-21. Twenty-three other samples from these four drill-holes
assayed greater than 0.1 g/t Au. A table of assays can be found on
the Companies website.
"The complexity of the Highway
Zone is proving challenging and I think the next phase of drilling
at Shot Rock will likely focus on the Middle Zone, which appears to
be more linear and where the higher surface grades are found.
However, our priority now is to implement a diamond drill program
at Root & Cellar in Newfoundland as soon as possible: the ground
IP and resistivity geophysical survey at Root & Cellar is
nearly complete and preliminary results from the field look very
promising. The raw results suggest that the Conquest Zone continues
down-dip to the south and along strike to the east. A parallel
chargeability anomaly 200 meters north of Conquest coincides with
the location of boulders uncovered by the prospector which assayed
up to 26 g/t Au."
- Northern
Shield President and CEO, Ian
Bliss
Update on Root and Cellar
Approximately three-quarters of the Spectral IP (Induced
Polarization) and Resistivity survey has been completed at Root
& Cellar. The survey covers the Conquest Zone and the recently
discovered Windfall Zone. The results will be used to guide
drill-testing of these two zones later this summer. The Company can
earn a 100% interest in the Property which is being explored for
epithermal gold-silver mineralization and porphyry copper
deposits.
Preliminary review of the raw sections shows several IP targets
of interest (Figure 3). This includes a chargeability anomaly that
is observed on six lines for a strike-length of over 500 meters and
coincides with the location of the Conquest trench where channel
samples have assayed up to 45 g/t Au. The eastern end of this
linear IP target intersects a broad zone of moderately strong
chargeability at depth on the last line of the grid at may suggest
the accumulation of disseminated sulphides at a geologic contact at
this location. Of significance too is a 300 meter long IP anomaly,
located 200 meters north of Conquest, that coincides with multiple
strong gold in soil anomalies and several gold-bearing boulders
with up to 26 g/t Au.
The drilling program at Shot Rock was contracted to Logan
Drilling Group based in Stewiacke, Nova
Scotia, and is overseen by Christine
Vaillancourt, P. Geo., the Company's Chief Geologist and a
Qualified Person under National Instrument
43-101. Samples were analyzed by ALS Global in
Vancouver, BC, for Au by Fire
Assay and multi-elements by four acid digestion and ICP-AES. All
standards and duplicates by ALS Global meet targeted values.
The geophysical survey program at Root & Cellar was
contracted to Clearview Geophysics of Brampton, Ontario, and is being overseen by
Joe Mihelcic, P. Geo. and a
qualified person under NI 43-101. This press release has also been
reviewed by 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
and Root & Cellar properties in Atlantic Canada, 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.