OTTAWA, ON, June 18, 2020 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to
announce that a second phase of drilling is planned to commence in
early-mid-July at the Shot Rock Property ("Shot Rock") in
Nova Scotia. Shot Rock is being
explored for low sulphidation epithermal (LSE) gold mineralization.
Northern Shield can earn up to an 80% interest in Shot
Rock.
The phase two diamond drilling program is designed to follow up
on the recent high-grade intersections found from the maiden drill
program on the Highway Zone at Shot Rock (see press release dated
April 29, 2020). The Phase two
program will consist of eight to ten drill-holes totalling 2,500 to
3,000 metres. Drilling will focus on delineating the mineralized
structure intersected in drill-hole 20SR-04 and testing five other
parallel structures interpreted from the airborne magnetic and
Lidar data. These structures coincide with an area of lower
magnetic signature. It was clearly noted in drill-core from the
first phase of drilling that alteration associated with the
mineralization reduces the magnetic signature of the hosts rocks.
On completion of the drill program we anticipate that we should be
close to meeting our expenditure requirements to earn 80% interest
in the Property, under the terms of the option agreement, nearly 18
months ahead of schedule.
"We are eager to get back drilling at the Shot
Rock Property in Nova Scotia. The
high- grade intercepts from the first phase were remarkably
encouraging and validated our LSE model that the gold grades would
increase rapidly as function of depth, within the boiling zones,
that are characteristic of these models. It is important to
highlight that the lower magnetic signature identified post the
phase one drill campaign has only reinforced our enthusiasm for
this project. This target will be the focus of the phase two
program. Additionally, we have taken what we have learned from Shot
Rock and have staked an additional land package 150km to the
West."
- Northern Shield
President and CEO, Ian
Bliss
New property staked using what we have learned:
The
Company has also acquired, through map staking, a 53 square
kilometer property located approximately 150 km west of Shot Rock,
also within the Avalon geological terrane, that the Company
believes has broad similarities to Shot Rock based on limited
data.
The drilling program is contracted to Logan Drilling Group based
in Stewiacke, Nova Scotia, and
will be overseen by Christine
Vaillancourt, P. Geo., the Company's Chief Geologist and a
Qualified Person under National Instrument 43-101.
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 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.