OTTAWA,
ON, Sept. 7, 2022 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to announce that the grab rock samples collected adjacent
to a newly identified geophysical target in the Conquest Zone at
Root & Cellar ("Root & Cellar" or the "Project") have
returned anomalous to significant gold grades. Root & Cellar is
located on the Burin Peninsula in
southeastern Newfoundland.
Northern Shield can earn up to a 100% interest in the Project,
which is being explored for epithermal gold-silver and
porphyry-copper type mineralization.
All six of the samples were collected between 40 and
170 m from the recently identified
Eastern Conquest Target (see Company News Release August 16, 2022). The six samples assayed 111.5,
7.5, 2.2, 1.3, 0.94 and 0.71 g/t Au. Nearly all samples contain
elevated tellurium. These samples, along with other boulders
containing high-grade gold previously reported (see Company News
Release December 15, 2021) and
anomalous soil samples, together form a very well-defined
dispersion trend pointing back to this target which is otherwise
covered by overburden and bog. Untested, near surface IP anomalies
also exist nearby and could reflect the feeder system to the
Eastern Conquest Target.
"We are very happy with the latest sample results which
include the highest gold grades reported from Root & Cellar to
date. The fact that these were collected adjacent to the newly
identified Eastern Conquest Target makes the results even more
exciting and work is continuing in this area. With our growing
understanding of the geology and structures we are better able to
pinpoint areas of higher potential for sampling. Once again,
prospector and Root & Cellar discoverer, Jeff Brushett, has taken that geological
knowledge and converted it into further gold discoveries; the
highest gold grades in the Burin
Peninsula, as far as we are aware."
- Ian Bliss,
Northern Shield President and CEO
The Conquest Zone is being explored for epithermal gold-silver
mineralization largely of high-sulphidation affinity.
Mineralization appears to have two components: 1) Flat-lying,
east-west trending "lithocap" type mineralization associated with
intensely silica, pyrite and potassium alteration that has
exploited unconformities and other lithological contacts, and 2)
sub-vertical, north-south trending feeder zones. As these are
deeper-seated features, their interpretation is largely based on
geophysics but they are seen to outcrop in several location in the
Central Conquest Zone where they are manifest as various
pyrite-bearing hydrothermal breccias and quartz veins and typically
carry higher gold grades than the lithocap-type mineralization.
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. This news
release was reviewed by Christine
Vaillancourt, P. Geo., the Company's Chief Geologist and a
Qualified Person under National Instrument 43-101.
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.
