OTTAWA,
ON, Feb. 21, 2023 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV:
NRN) is pleased to announce that more visible gold has been
found in the Conquest Zone during recent trenching at its Root
& Cellar Property ("Root & Cellar" or the "Property"). 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
mineralization.
The sample was collected from material excavated from an
approximately two-metre-deep trench located near the eastern end of
the Conquest Zone in the vicinity of the other recently reported
visible gold samples (see Company news releases dated September 7th and December 13th, 2022). Groundwater,
which tends to lie on top of the bedrock in the low-lying areas,
was encountered in these trenches, and along with a subsequent very
heavy snowstorm prevented personnel from accessing the trench for
more detailed investigation at the time.
A ground Induced Polarization (IP) geophysical survey is also
underway and is expected to be completed within two weeks.
Trenching will resume after initial processing and interpretation
of the IP data.
"This is the third time visible gold has been
found in the last three successive visits to the Property by our
field crew; the fact that gold was identified in less-than-ideal
ground and weather conditions during the last visit, bodes well as
to how much more gold may be in the ground."
- Ian
Bliss, Northern Shield President and
CEO
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.