Northern Shield Resources (TSXV:NRN)
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6 Months : From Aug 2019 to Feb 2020
OTTAWA, Oct. 2, 2019 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce the results of the first phase of till sampling from 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 first phase covered the Windmill and Middle Zones, and the southern portion of the Highway Zone. The sampling was conducted on a coarse grid with samples collected at 100 m intervals along profiles spaced at approximately 200 meters. Significantly, the results show a gold +/- silver anomalous trend approximately 1.3 kilometre long that coincides with a N-S structural and magnetic feature in the Windmill Zone. Very little prospecting has been undertaken in the area. Several other gold anomalous areas, that generally follow an ESE trend, have also been defined by the till sample results. This includes an area south of the Middle Zone and south of the Highway Zone (Dark Side). Again, due to relatively poor exposure, very little rock sampling has occurred in these areas. However, this southern till trend is supported by strongly gold anomalous stream sediment sample previously reported (August 8, 2018).
The first phase of the till sampling program was curtailed by Hurricane Dorian last month hence the Highway Zone and Crystal Hill were not covered. Based on the very encouraging results, the sampling will resume and follow-up prospecting will be conducted in the anomalous areas.
"Since we can calibrate the importance of these till assays based on the results spatially associated with the known occurrences, the results from this program strongly suggest that there are more gold-bearing zones to be found" explains Northern Shield President and CEO, Ian Bliss. "Specifically, the till results, when combined with geophysics and mapping, appear to point to a trend, or several trends that parallel the known occurrences on the south side of the ridge. In particular, the Dark Side till anomalies, if projected eastward, coincide with the highest stream sediment anomaly in the entire property and where the first float samples of gold-bearing epithermal quartz vein were found in 2018. Although it was these float samples that ultimately led to the discovery of the Highway Zone, we have recently concluded that they are likely too far away from the Highway Zone to have originated there. The till results help reinforce that there is another zone closer to the highway."
The program was 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 Shot Rock 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.