OTTAWA, May 2, 2018 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to announce today that is has expanded the Shot Rock Gold
Property ("Shot Rock" or the "Property") in Nova Scotia which is being explored through
wholly-owned subsidiary, Seabourne Resources Inc. The size of the
Property has been increased to approximately 184 square kilometres.
The Company has the right to acquire up to an 80% interest in Shot
Rock under an option deal signed with a local prospector (see press
release December 20, 2017).
The Shot Rock Gold Property now covers a 31 kilometre
strike-length of unconformable, quartz-pebble conglomerate and
bi-modal volcanic rocks. While outcrop is generally poor in
the area, gold has consistently been panned from streams that
transect a certain area of the Property. Prospecting also resulted
in the discovery of quartz-pyrite veins moderately anomalous in
gold and epithermal pathfinder elements including mercury, arsenic
and antimony. Such signatures are very similar to known epithermal
gold deposits in Nevada, a style
that has only very recently been identified in Nova Scotia and provides for an exciting new
opportunity.
A first phase of community engagement has been successfully
undertaken in the Shot Rock area and exploration will soon be
underway on parts of the Property as access roads dry out.
The Company is also pleased to announce that, through Seabourne
Resources, it has acquired an Iron-Oxide-Copper-Gold ("IOCG")-type
Co-Cu-Fe-Au property in western Nova
Scotia, approximately 100 kilometres west of Shot Rock. The
IOCG property currently consists of 3 claim groups totalling 67
square kilometres. The area hosts sediment samples highly anomalous
in cobalt, copper, nickel, lead, zinc and iron. Several specular
hematite veins and chalcopyrite showings occur within the claim
groups. These are all classic indications of IOCG-type deposits.
The Cobequid-Chedabucto Fault (CCF), which the property sits
adjacent too, has been highlighted in the past for its potential to
host IOCG-type mineralization. The Company believes that a series
of oblique secondary faults associated with the CCF have the
highest potential to host significant mineralization as they form
dilatant zones for mineralizing fluids to exploit.
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 at the Company's Nova
Scotia properties, acquisition targets, the Company's
capitalization and other goals, objectives, assumptions,
information or statements about future events, 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.