OTTAWA, Nov. 7, 2018 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to
announce significant advancements from the Shot Rock Property (the
"Property") in Nova Scotia. Shot
Rock is being explored for epithermal gold mineralization through
Northern Shield's wholly-owned subsidiary, Seabourne Resources
Inc., which can earn up to an 80% interest in the Property.
Large, well-banded low sulphidation, epithermal quartz veins
(Photo A), some up to 45 centimetres thick, have been found in
outcrop (Photo B) within the Highway Zone. The larger veins trend
generally east-west and have a sub-vertical dip. Intensive
stockwork veining and breccias (Photo C) have also been found in
outcrop. Dozens of similarly composed (Photos E, F and G) angular
boulders (up to 1 metre) have been uncovered in the area, some
exhibiting multiple phases of veining, stockwork and brecciation
(Photo D). These new outcrops are located approximately 350 metres
(across strike) from the outcrop of stockwork veining that assayed
up to 0.95 g/t Au and is 700-1500 metres (along strike) from much
smaller boulders, collected along a nearby stream that assayed up
to 3.3 g/t Au (see Press Release October 18,
2018). Further large angular boulders were found up-slope
from the last outcrop suggesting the width of epithermal system
could be up to 650 metres.
Also of potential significance is the discovery of quartz veins
(Photos H, I, and J) of a different genre than the ones mentioned
above. These quartz veins generally do not exhibit
colloform/crustiform banding but contain brecciated fragments of
various hosts rocks with fine pyrite along the contacts of the
fragments, near the margins of the vein itself and sometimes
disseminated within the host rocks. Injection breccias are also
noted and consist of fine-grained granitic material injecting into
a rhyolite with fragments of both lithologies often containing
disseminated pyrite. Both lithologies are then cut by pyritic
quartz veins. Most of the float samples were collected along or
near the upper reaches of the same creek containing the gold
anomalous and gold-bearing colloform and crustiform banded boulders
sampled earlier in the year. Thus, mineralized quartz vein material
has been seen along the entire two kilometre length of this
creek.
Assays are pending on all samples. The textures and mineralogy
of some of the quartz veins in outcrop and boulders are consistent
with the upper levels of epithermal gold systems, likely well 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 high in the system and above the cap
to higher grades at and below the boiling level.
"We believe this is a significant development at Shot Rock. We
have located some very large veins and zones of intense stockwork.
The size of some of the veins we are now discovering in bedrock is
impressive, especially considering that they appear to represent
the very top of an epithermal system and would typically thicken at
depth. The distribution of the outcrops identified to date, the
concentration of locally derived boulders and the variety of quartz
vein phases and alteration indicates that this could be a very
large epithermal system," explains Northern Shield President and
CEO, Ian Bliss.
For reasons of safety and consideration to the local hunters,
field crews have vacated the field at the commencement of deer
hunting season but will return shortly.
The program is being overseen by Christine Vaillancourt, P. Geo., the Company's
Chief Geologist and a Qualified Person under National Instrument
43-101.
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.