OTTAWA, Jan. 7, 2019 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to announce results from on-going exploration at the Shot
Rock Property (the "Property") in Nova
Scotia. These latest results show the continued
identification of gold-anomalous to gold-bearing quartz veins in
outcrop and boulders that have expanded the foot-print of the gold
anomalous zone by 650 metres to the northeast. Shot Rock is being
explored for low sulphidation epithermal gold mineralization
through Northern Shield's wholly-owned subsidiary, Seabourne
Resources Inc., which can earn up to an 80% interest in the
Property.
Fifteen of the 70 samples of quartz vein material recently
submitted for analysis returned anomalous gold (>0.025 g/t Au).
Gold anomalous samples were identified in three of the four areas
targeted within the Highway Zone. The highest assay of 1.03 g/t Au
and 5.0 g/t Ag came from a large angular boulder composed of vuggy
quartz veins hosting minor hematite and possible jarosite (formed
from the oxidation of iron sulphides). The core area of
gold-anomalous to gold-bearing quartz veins in outcrop and boulders
now measures about 900 x 2,000 metres, with other satellite
occurrences located approximately 600 metres north and up to 2,500
metres west of the core area.
On-going and preliminary interpretation of the data and geology
suggests that the eastern portion of the Highway Zone may be capped
by the remnants of rock units that have been thrust on top of the
epithermal system along a low angle thrust fault. This thrust block
would have protected the epithermal system from erosion, which
could explain why the epithermal gold system largely appears to be
intact at Shot Rock.
Compilation of all data also continues to highlight how
distinctly anomalous the Highway Zone is in many of the pathfinder
elements often associated with low sulphidation epithermal gold
systems. Zonation at the Highway Zone shows a classic outer halo of
Hg enrichment with progressively higher Ba and As inward and,
finally, a core of Sb, Mo and K enrichment associated more tightly
with the Ag-Au mineralization. (see maps at
northern-shield.com)
A high resolution airborne magnetic survey is currently being
planned for the Highway Zone at Shot Rock along with further ground
exploration. The airborne survey is anticipated to commence in
February but this timeline could change due to factors outside of
the Company's control.
The textures and mineralogy of the quartz veins in outcrop and
boulders from the Property are believed by Northern Shield to be
consistent with the upper levels of epithermal gold systems, likely
above the boiling cap. In typical epithermal systems, only modestly
anomalous gold is expected to be seen above the boiling cap. If
higher grades exist, they are usually found below, or at the level
of the boiling cap.
The exploration programs are 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 will be 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.