OTTAWA, Nov. 22, 2018 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to announce results from on-going exploration at the Shot
Rock Property (the "Property") in Nova
Scotia. These results show the continued identification of
gold-anomalous to gold-bearing quartz veins in outcrop and
boulders, and the significant expansion of the area hosting the
epithermal system. Shot Rock is being explored for low sulphidation
epithermal gold mineralization through Northern Shield's
wholly-owned subsidiary, Seabourne Resources Inc., which can earn
up to an 80% interest in the Property.
Twenty-four of the 42 samples of quartz vein material recently
submitted for analysis returned anomalous gold (>0.025 g/t Au).
The highest assay of 2.5 g/t Au and 17.0 g/t Ag came from a large
angular boulder composed of stockwork quartz veining hosted within
a rhyolitic rock that also contains disseminated pyrite.
Importantly, one of the larger banded quartz veins previously found
in outcrop at the Property by Northern Shield (see press release
dated November 7, 2018) assayed 0.47
g/t Au. A full list of assays from the Highway Zone are provided on
the Company's website.
The textures and mineralogy of the quartz veins in outcrop and
boulders from the Property are believed by Northern Shield to be
consistent with the upper levels of epithermal gold systems, likely
above the boiling cap. In typical epithermal systems, only modestly
anomalous gold is expected to be seen above the boiling cap. If
higher grades exist, they are usually found below, or at the level
of the boiling cap.
In addition to the results from the above-mentioned samples,
further prospecting and sampling has been undertaken. These samples
are being submitted for analysis and assays are pending. This
sampling has considerably expanded the footprint of the low
sulphidation epithermal systems at the Highway Zone. The core area,
where large-scale quartz veins and zones of intense stockwork have
been found in outcrop, has been increased from 350 metres across to
approximately 550 metres. In addition, numerous large angular
boulders up to 1.5 metres in diameter consisting of
crustiform/colloform banded quartz veins and stockwork veining,
have been identified up-ice and up-hill from these outcrops which
could further expand the cross-section vein system by 650 metres to
the north. Outcrops and boulders with banded and crystalline quartz
veins have also been identified 1,900 metres and 1,600 metres east
and west respectively, along strike from this core area.
"We are very happy with the progress at Shot Rock. Although at
an early stage, we continue to check a lot of critical technical
boxes; firstly, the fluids forming these veins are gold-rich as
indicated by the assays; rock textures provide evidence for a
prolonged history of hydrothermal activity and efficient, vigorous
boiling and; the numerous cycles of banding each represent a
discrete boiling event. All these criteria are prerequisite to
"grow" large and productive epithermal systems", explains Northern
Shield President and CEO, Ian Bliss.
"Furthermore, we keep expanding the footprint of this system by
finding new areas of quartz veining and mineralization. We look
forward to continuing to advance our exploration of the Property
over winter."
The programs are being overseen by Christine Vaillancourt, P. Geo., the Company's
Chief Geologist and a Qualified Person under National Instrument
43-101. Samples from the program will be analyzed by ALS Global in
Sudbury, Ontario and in
Vancouver, BC, for Au by Fire
Assay with ICP-AES finish and base metals by four acid digestion
and ICP-AES. All standards and duplicates by ALS Global meet
targeted values.
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 program for Ni-Cu-PGEs and
utilizing expertise and innovation toward working on other deposit
types. Seabourne Resources Inc. is a wholly-owned subsidiary of
Northern Shield focussing on epithermal gold and related deposits
in Atlantic Canada and
elsewhere.
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 Nova Scotia properties, geological, and
geometrical analyses of the properties and comparisons of the
properties to known epithermal gold deposits in Nevada and elsewhere, 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.