OTTAWA, Oct. 18, 2018 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to announce that the stockwork-style epithermal quartz
veining recently found in bedrock through grab sampling at the Shot
Rock Gold Property (the "Property") in Nova Scotia assayed 0.96 g/t Au. Additionally,
a newly discovered boulder found approximately 600 metres east of
this outcrop assayed 3.3 g/t Au. This is the highest gold assay
from Shot Rock to date and to the Company's knowledge, the first
known occurrence of mineralised epithermal banded quartz veins in
northern Nova Scotia. 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.
Thirteen other samples from the current batch assayed between
0.1 and 0.6 g/t Au. All of these are within the Highway Zone. The
mineralization appears to be related to a five kilometre-long,
east-west structure that forms a splay off a larger regional
structure. The western end of the structural zone is exposed along
a windmill access road on top of the ridge. While very little
epithermal quartz veining has been noted here, the altered fault
zone is marked by sporadic anomalous gold and strong enrichment in
the pathfinder elements associated with the quartz veins. This
could represent the uppermost levels of the fault system which
hosts the quartz veins to the east. The eastern end coincides with
a topographic low and hence this area may represent the deepest
erosional level of the vein system. It is within this topographic
low that the boulders with the highest gold grade have been found
to date. This would be supportive of the model whereby gold grades
in epithermal systems typically increase rapidly at depth within
the vein. The outcrop exhibiting stockwork epithermal veining is
midway between these two end points.
"Textures observed in many of the quartz boulders suggest a
vigorously boiling system and the current erosional levels appear
to be relatively high in the system," explains Northern Shield
President and CEO, Ian Bliss. "If
what we are sampling right now is indeed high in the system, it
bodes well to what could be a depth. We believe the size of the
system and textures of the quartz veins are remarkably similar to
what is observed in prolific epithermal gold camps such as
Nevada."
Further stream sediment sample results are pending. Some of
these samples targeted an area 5 kilometres further east that the
Company believes may host a continuation of the same structure as
seen in the Highway Zone.
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 from the program 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 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.