OTTAWA, Sept. 9, 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 ("Shot Rock" or the "Property") in Nova Scotia which is being explored for
epithermal gold mineralization. Northern Shield can earn up to an
80% interest in Shot Rock.
The principal phase of field mapping at Shot Rock is now
complete and the compilation is in its final stages. In summary
(details further below), four distinct gold-bearing epithermal
systems of low sulphidation affinity have been identified along a
ridge that sits between the Piedmont Valley and Trans-Canada
Highway in the central portion of the Property with indications of
district scale potential. The system appears to have been very
active and long lived, driven by large multi-phased intrusions
which underlie that portion of the Property. It is believed that
these intrusions created a large linear doming of the stratigraphy.
Along with cross-cutting structures, this "superdome" helped focus
the fluid flow and trap it along its apex creating very favourable
geological conditions for accumulation of significant gold
mineralization.
Drill targets and collar locations are currently being selected
and prioritized for testing by a 2-3000 metre drill program being
planned for the fall.
Channel sampling of stockwork at the Middle Zone was completed
and 34 samples are currently being analysed for gold. Crews will
shortly be moving to the Highway Zone to conduct channel sampling
on numerous zones of stockwork and veining recently exposed by
hand-trenching. Soil sampling has also been completed along the
Windmill-Highway Zone. The objective of the soil sampling program
is to try to locate shallowly buried gold-bearing structures not
yet exposed through hand-grubbing. A second phase of soil sampling,
along with prospecting, will soon commence east of the Highway Zone
in an effort to locate any additional epithermal cells on this
unexplored part of the property.
"I appreciate that's a lot of technical information here," quips
Northern Shield President and CEO, Ian
Bliss, "but one needs to recall that we were at ground zero
a little over a year ago; we started with a few grains of gold in a
pan and a theory of a low sulphidation epithermal gold system. At
that time, no such system was known to exist in the Province so we
had nothing to compare it to. We now have identified four separate
epithermal cells of which three host gold-bearing quartz veins. The
footprint of the Highway Zone alone is comparable in scale to known
epithermal mines, including the Martha Mine in New Zealand, and we have strong indications of
the existence of further cells providing for district scale
epithermal gold potential within the 300 square kilometer Property.
Those opportunities do not arise very often, especially within
sight of the Trans-Canada Highway," adds Mr. Bliss.
Technical highlights from mapping program and related
research
- The identification of four separate fluid cells (epithermal
systems) along the ridge overlooking the highway including the
newly identified Crystal Hill
located 500 m east of the Highway
Zone. These fluid cells are defined by geochemistry, mineralogy and
various alteration and silicification indices. In the western-most
cell (Windmill Zone), although anomalous gold and pathfinder
elements are present, significant quartz veining or gold
mineralization has not been identified to date. Moving eastward,
the Middle Zone contains the highest gold grade identified to date
at 5.3 g/t Au and is spatially well confined. A further
1,000 m east, the Highway Zone
possesses the largest footprint to date measuring approximately 600
x 280 metres. Based on the understanding of these four known
occurrences and applying results from previously completed airborne
magnetics, Lidar survey, stream sediment geochemistry and
prospecting, further cells are expected to exist east of Crystal
Hill, and could be associated with gold mineralization at
depth.
- Either regional folding or, more likely, the syenite intrusion
itself, may have caused a large and distinct upward "doming" of the
overlying stratigraphy that parallels the intrusion. This 8
kilometre-long "superdome" can have important effects in the
generation of low sulphidation gold systems: 1) it focusses the hot
rising fluids, which then concentrate at the apex of the (linear)
dome; and 2) brittle rock layers tend to crack as they are folded
or domed, creating ideal voids for large vein formation.
- The identification of a silica cap at the Highway and
Crystal Hill zones confirm a very
high level of exposure. This is significant as the main veins,
often hosting better gold mineralization, are typically located
directly beneath the silica cap.
- Although the exact age of the mineralization is not currently
known, fluid inclusion studies being undertaken at St Mary's University, along with parameters imposed
by the relative ages of the intrusions, suggest a Carboniferous age
(359 to 300 Ma) or younger. This does not necessarily influence the
gold potential of the low sulphidation systems at Shot Rock,
however if confirmed, it means that these systems are much younger
than geologically similar systems in Newfoundland.
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.