OTTAWA, Aug. 14, 2018 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to announce assay results from rock grab samples that were
collected from the Shot Rock Property, (the "Property")
contemporaneously with the stream sediment sampling disclosed in a
news release on August 8, 2018. Shot
Rock is being explored through Northern Shield's wholly-owned
subsidiary, Seabourne Resources Inc., which can earn up to an 80%
interest in the Property.
Significantly, the three highest grab samples which assayed 1.0,
1.0 and 0.6 g/t Au and 11.0, 3.2 and 5.1 g/t Ag, respectively, are
all float samples of colloform-banded quartz veins, collected along
a stream as follow up to anomalous rock grab samples previously
disclosed in a news release dated July 24,
2018. These three samples also contain elevated barium and
elevated but sporadic arsenic and antimony, all of which are
typical pathfinder elements in this environment.
These three samples were collected along a stream bed that also
contained a stream sediment sample that assayed 1,045 ppb Au (1.05
g/t Au). Another sediment sample from a neighbouring stream 650
metres away assayed 679 ppb Au (0.68 g/t Au). It is important to
note that the stream sediment samples have not been manually
concentrated. Collectively, the grades of gold in the stream
sediment samples, their distribution and the graded zonation of
barium and gold along the stream, are strongly suggestive of a
local bedrock source. Three other streams which contain anomalous
gold in sediments (up to 1,015 ppb Au), are located to the west and
drain the same geological feature, suggesting a 4.5 kilometre
strike length. (see updated presentation on website.)
"We are consistently improving on the gold content of rock
samples every time we return to Shot Rock," points out Northern
Shield President and CEO, Ian Bliss.
"We are very happy with the progress to date that required a
methodical approach due to the size of the Property and limited
data. We acquired this project based on the identification of
panned gold at a certain stratigraphic level and some "out of the
box thinking" by a prospector. Early on, we detected an epithermal
signature in the area at the same time as the geologists from the
Department of Natural Resources, Nova
Scotia were drawing similar conclusions about an occurrence
80 kilometres west. We have now clearly identified classic,
epithermal textured quartz veins, and they are gold bearing. We now
need to find the bedrock source of these float samples. The next
phases of exploration will move toward developing drilling targets
and I am excited about the grades we could encounter at depth from
a future drilling program."
The textures and mineralogy of the quartz vein material are all
very consistent with the upper levels of epithermal gold systems,
likely above the boiling cap. Boiling caps form at the level where
rising boiling fluids, which carry the gold, interreact with cooler
near surface water (water table). This results in epithermal quartz
veins that typically show significant and rapid vertical zonation
in gold grades from low-grades above the cap to higher grades
below.
The next phase of exploration will include stream sediment and
rock sampling on the northern flanks of the area of interest to cut
off the source of the gold in the streams contemporaneous with
manual and mechanical trenching in proximity to where the
auriferous float samples are most abundant.
The program is being overseen by Christine Vaillancourt, P. Geo., the Company's
Chief Geologist and a Qualified Person under National Instrument
43-101. Samples were 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, 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.