OTTAWA, ON, June 29, 2021 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to announce that it has made significant advancement at the
Root & Cellar Gold-Silver Project ("Root & Cellar" or the
"Project") in Newfoundland. These
advancements stem from two components: 1) prospecting, and 2) a
ground geophysical program consisting of Spectral IP (Induced
Polarization) and Resistivity, both pointing to a potentially very
large system at Root and Cellar, particularly at the Conquest Zone.
The Company can earn a 100% interest in the Property, which is
being explored for epithermal gold-silver mineralization and
porphyry copper deposits.
Prospecting
Prospecting and ground truthing of some of
the near surface IP anomalies at the Conquest Zone identified from
the geophysical survey has uncovered additional mineralized
outcrop. These showings consist of sulphide-bearing and strongly
silicified outcrops locally hosting chalcedonic quartz displaying
early stages of colloform banding and ginguro development (Figure
1). Samples are being shipped for analysis. These discoveries were
made in the vicinity of grid lines 5300E and 5400E (Figure 2) where
IP results show a chargeability anomaly coming to surface. Note
that chargeability can be indicative of the presence of
disseminated sulphides, which has also been visually confirmed with
the prospecting.
The discovery of these mineralized outcrops has increased the
exposed width of the Conquest Zone from 40 metres to over 80 metres
at this location. The Conquest Zone, which is believed to be a
sub-vertical feature, has so far been traced on surface for 650
metres with grades up to 48 g/t Au (see press release, May 19, 2019). The ground IP survey shows a
coincident chargeability anomaly with a strike length of 1,100
metres and open at both ends (see details below).
IP Survey
The ground Spectral IP and Resistivity
geophysical survey, which totalled 25 line-kilometres and covered
the Conquest Zone and recently discovered Windfall Zone, is now
complete with modelling underway. Although substantial
chargeability anomalies often associated with high resistivity
(silicification) exist in, and immediately south, of the Windfall
Zone, this press release focuses on Conquest because
interpretations and ground truthing are more advanced. An update on
the Windfall area will be provided when the data has been fully
modeled and interpreted and, ground-truthing has taken place where
possible.
The results from the IP survey at Conquest show two principal
east-west trending IP chargeability anomalies (Figure 2) and
numerous other subordinate cross-cutting IP trends (Figure 2). The
northernmost of these two anomalies coincides with the Conquest
showing and is traceable for 1,100 metres, reaching the surface
near the middle. It is generally subvertical but broadens at depth.
A second parallel chargeability anomaly is located approximately
250-300 metres south and can also be traced for 1,000 metres. It
dips to the north and in places appears to converge with the
northern Conquest anomaly at depth. The southern IP anomaly is
located within an area of little outcrop but where a series of soil
samples elevated in gold form a trend adjacent to the IP
target.
These two linear IP anomalies are also located on the flanks of
a deep-penetrating, magnetic low feature (Figure 3), which is
consistent with a low-sulphidation model.
"These are very encouraging IP results which
were quickly validated by the discovery of further mineralized
outcrop after some arduous hand trenching by prospector,
Jeffrey Brushett. The width of the
Conquest showing is now up to 80 metres; if this is not remarkable
enough, the IP results suggest another parallel zone 250 metres to
the south."
Ian Bliss –
President & CEO
The survey program at Root & Cellar was contracted to
Clearview Geophysics of Brampton,
Ontario, and was 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. and the
Company's Chief Geologist.
Northern Shield Resources Inc. is a Canadian-based company with
experience in many geological terranes and focused on generating
high-quality exploration programs. 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.
