OTTAWA, June 24, 2019 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to provide an update on exploration at the Shot Rock Gold
Property (the "Property" or "Shot Rock") in Nova Scotia, which is being explored for
epithermal gold mineralization. Northern Shield can earn up to an
80% interest in the Property.
Assays from rock sampling of the second low sulphidation system
discovered within the Highway Zone at Shot Rock (see Press Release
dated May 1, 2019) show a 300 metre
long gold-anomalous trend including assays of 5.3 and 4.9 g/t Au.
These are the two highest gold assays reported from Shot Rock to
date. These two samples are composed of brecciated and potassic
altered rhyolite with void fillings of crustiform banded quartz,
bands of sulphide and coarser comb-textured quartz. The
sulphide-rich bands are dominantly composed of pyrite though silver
minerals are also present. A photo of one of the gold-bearing
samples is provided below (Photo A). A further 24 of 59 samples
from this trend were anomalous in gold (> 0.025 g/t Au). (A list
of assays from this subset can be found on the Company's website.)
The two highest rock samples come from float material (local) with
the remainder a mix of sub-crop, float (local) and outcrop. This
trend is dominated by stockwork-style epithermal quartz veining and
chalcedonic veins/bands hosted in clay-altered rhyolite.
A follow-up visit was made to the site of the two samples
mentioned above and hand trenching located another large angular
boulder, suggesting local providence, in addition to what appears
to be sub-crop of similar material. Twenty further samples were
collected from these sites. Some of these samples contain
significantly more sulphide bands than the two samples reported
above (see Photos B & C). Assays are pending from this batch of
samples.
Significantly, a small boulder of crustiform banded quartz vein
which assayed 1.2 g/t Au has been found approximately 5 kilometres
east, along strike from the Highway Zone. The sample was collected
in the same general area as several historic gold anomalous stream
sediment samples and a few hundred metres south of the same
structure that hosts the Highway Zone.
"I have just returned from a tour of the Highway Zone and the
extent of the system and the intensity of the veining and
alteration is really impressive. Although the surface exposure of
the mineralized system is high-level and seemingly above the
boiling cap, we are beginning to see leakage of higher grades which
bodes well to what may be encountered at depth," explains Northern
Shield President and CEO, Ian Bliss.
"The discovery of a float sample of gold-bearing crustiform banded
quartz vein 5 kilometres east of the Highway Zone hints that there
is yet more to be found at Shot Rock."
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 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 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.