OTTAWA, ON, Aug. 31, 2021 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to provide an update on exploration and interpretation from
the Root & Cellar Gold-Silver-Copper Project ("Root &
Cellar" or the "Project") located on the Burin Peninsula in southeastern Newfoundland. The Company can earn a 100%
interest in the Property, which is being explored for epithermal
gold-silver mineralization and porphyry copper deposits.
New Gold and Copper Occurrences
Thirty-six additional
grab sample assay results have been received from prospecting and
ground truthing of some of the near surface IP anomalies in the
Conquest Zone as announced on July 27,
2021, including assays of 3.2 and 1.0 g/t Au. Eleven other
samples from the batch assayed between 0.1 and 1.0 g/t Au. These
results continue to validate the prospectivity of the IP
anomalies.
Furthermore, the field crew currently on-site have uncovered two
new copper occurrences also within the Conquest Zone based on
visual observations. The first occurrence consists of coarse
blebs of chalcopyrite (copper sulphide) along with a finely
disseminated silvery-grey copper mineral (possibly tetrahedrite)
hosted in a silica-pyrite-potassium altered matrix (Figure 1). This
occurrence coincides with the main Conquest IP trend (Figure 2) and
is located approximately 100 metres east of the gold discovery
recently announced (see Company press release dated July 27, 2021). The second occurrence was found
near the southern Conquest IP trend (Figure 2) and consists of
malachite and chalcocite (copper sulphide) hosted in vuggy silica
and associated with epidote and potassic alteration.
IP Anomaly Continues to Depth
These new discoveries
continue to suggest the possibility of a transitional epithermal
gold to copper porphyry system occurring at Root & Cellar. Line
5300 was surveyed with two different configurations during the
previously completed IP survey, with the second configuration
seeing much deeper. It shows the main Conquest IP trend widening
and extending to considerable depth, beyond 300 metres (Figure 3).
This IP trend will be the principal target to be tested at depth,
for a drilling program being planned and permitted for this
fall.
"We continue to reap the benefits of being an early mover
into the under-explored Burin
Peninsula as more and more gold and copper occurrences are
uncovered in the Conquest Zone through methodical exploration and
ground truthing the near-surface expressions of the IP anomalies.
We look forward to the drilling program to test these near surface
IP targets and where the IP anomalies blowout below the volcanic
sequence."
Ian Bliss – President &
CEO
Geology-IP Interpretation
The geology of the Root
& Cellar Property dominantly consists of a bimodal sequence of
volcanic rocks with vent breccias and related pyroclastic rocks
including ignimbrites. This sequence overlies subvolcanic basement
rocks. Only a small number of the IP anomalies identified from the
survey penetrate up through the volcanic sequence and come to
surface. Those that do come to surface appear to be offshoots of
much larger IP anomalies at depth. Importantly, the broadening of
the IP anomalies occurs at a stratigraphic level interpreted to be
the volcanic/basement contact.
Planned Drilling Program
A 2,500 metre drilling
program is planned for the fall and a drill permit application is
underway. The drilling will focus on the Conquest Zone but the
Windfall Zone, along with IP targets to the south-east of Windfall,
will also be tested.
This press release has been reviewed by Christine Vaillancourt, P. Geo. and the
Company's Chief Geologist. 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 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.
