Northern Shield Resources (TSXV:NRN)
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1 Year : From Oct 2018 to Oct 2019
OTTAWA, Jan. 18, 2019 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that it has expanded the Grand Pabos Gold Property (the "Property") it recently acquired in the Gaspésie region of Quebec from 37 to 69 claims. The Property now consists of two claim blocks totalling 3,900 hectares. The Property includes two historic stream sediment samples identified from the Quebec provincial database that assayed over 100,000 ppb Au.
One claim block covers a 9 kilometre stretch of the Grand Pabos Fault, a very distinct regional scale structure. This claim block also contains government stream sediment samples that assayed 100,000 ppb Au and 5,393 ppb Au, with an additional three assaying between 100 and 1,000 ppb Au, and six more assaying between 30 and 100 ppb Au. The Property and anomalies coincide with a slight bow in the trend of the Grand Pabos Fault. This deflection in the trend could have created a zone of dilatancy into which mineralizing fluids could have collected. The assays are reported in Quebec provincial databases but have not yet been independently verified by Northern Shield.
The second claim block, located approximately 4 kilometres north of the Grand Pabos Fault, also includes an historic stream sediment sample which assayed over 100,000 ppb Au and an historic drill hole with up to 14.1 g/t Au over 2.44 metres in overburden. The assessment reports pertaining to this historic drilling describe large gold grains being observed in the overburden. Many of the gold grains still had tiny quartz particles attached as well as grains of pyrite and arsenopyrite. The presence of sulphide grains, which generally weather extremely readily, suggest proximity to source. The assays are reported in a Quebec provincial assessment report and in Quebec provincial databases but have not been verified by Northern Shield.
"Despite the magnitude of these anomalies immediately adjacent to a regional structure and the nearby presence of visible gold in the overburden, vey little exploration is documented from this property," explains Northern Shield President and CEO, Ian Bliss. "Furthermore, the gold grades in overburden are such that we must also evaluate the potential that the overburden itself could hold resources and not just the bedrock."
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 Grande Pobos Property, 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.