Northern Shield Resources (TSXV:NRN)
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1 Year : From Dec 2018 to Dec 2019
OTTAWA, Dec. 20, 2018 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that it has acquired, through map designation staking, two new gold projects in the Gaspesie region of Quebec. The projects were acquired within a structural and geological belt that runs from through Newfoundland, Nova Scotia, and into Gaspesie, Quebec. This same belt hosts the Company's recently discovered epithermal gold system at Shot Rock, Nova Scotia, the Moosehead Gold Project in Newfoundland being explored by Sokaman Iron Corp., and the Hickey's Pond gold occurrence, also in Newfoundland. The Company believes the potential for this belt to host both low and high sulphidation epithermal gold and related systems is only just being fully realized, providing significant opportunity for new discoveries in these under-explored regions.
The first claim block is located 50 kilometres south-east of the town of Rivière-du-Loup and consists of 22 claim units totalling 1,232 hectares. The claims cover a known showing which include samples from a trench with reported assays of 1.1, 2.3 and 99.5 g/t Au. The assays are reported in provincial assessment report GM 58500 filed in 1999 by the claim owners at the time but have not been verified by Northern Shield.
The second claim block is located east of the town of Sainte-Florence and consist of 37 claim units totalling 2,120 hectares. The claims cover a portion of a regional structure that is distinctly anomalous in gold and associated pathfinders Ag, As and Sb based on historic government surficial sediment samples.
"We believe these new acquisitions in Gaspesie compliment our Shot Rock Property in Nova Scotia very well and feed off our growing knowledge of epithermal and related systems within this belt," says Northern Shield President and CEO, Ian Bliss.
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 and Gaspesie 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.