OTTAWA, ON, Dec. 9, 2020 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSX-V: NRN) is pleased
to announce that the initial review of the fully processed data
from the controlled-source audiomagnetotellurics ("CSAMT")
geophysical survey has been completed at its Shot Rock Gold Project
("Shot Rock") in Nova Scotia. The
Company is exploring the Property for low sulphidation epithermal
("LSE") gold mineralization and currently owns an 82% interest at
Shot Rock.
Further to the press released dated November 19th, 2020, interpretation of
the full dataset shows five high angle, deep-seated resistive
features that the Company believes could represent quartz veining
and/or silicification along fault zones at the core of a large LSE
gold system. We believe these features are the main and most
important components of the low sulphidation epithermal system we
have been vectoring towards since the original discovery of
mineralized float at Shot Rock. Importantly, the trend of the
features is consistent with that of anomalous gold mineralization
and pathfinder elements seen in drill core and of the large gold
anomalous quartz veins intersected in drill-holes 20SR-11, 12 and
16. Furthermore the feeder structures are consistent with the
property scale dilatant structure identified and announced on
April 29, 2020 (Figure 1).
The survey also shows a large resistive body interpreted to
represent a silica cap overlying these structures. Beneath the
silica cap, portions of the resistive structures are locally seen
to have selvages of less resistive material that could indicate
clay alteration which is commonly associated with low sulphidation
epithermal gold systems (Figure 2). These are the levels that will
be targeted in the next phase of drilling. The targets are
generally just beyond the depth of all current drilling, which has
not gone past the "cap" that is so clearly defined by the CSAMT
survey.
The CSAMT survey also supports the previously suggested theory
that much of the gold mineralization at surface, or near surface,
is the result of ascending fluids exploiting weaknesses along the
dyke contacts (which are apparent from the survey) thus allowing
some veins and disseminated gold to form high above the primary
portions of the epithermal system. While these zones carry some
gold grades, they are well above the main "boiling zone" of the
system and having infiltrated through the silica cap.
However, the gold anomalous quartz veins intersected in drill-holes
20SR-11, 12, 15 and 16 do appear to represent the upper levels of
the main veins system originating from the "Feeder 1
Structure."
"We couldn't be happier with the results of the CSAMT survey.
We see several large resistive features that are interpreted to be
feeder structures of the epithermal gold system found in the
Highway Zone at Shot Rock. From the CSAMT survey, we have
identified what we believe to be the level of boiling along these
structures where higher grades of gold can be expected. Importantly
we now understand the lower than expected gold grades from the
second phase of drilling. Although drill-holes 11, 12 15 and 16 for
instance intersected epithermal quartz veining above Feeder 1, they
did so within the cap, not the boiling zone, which explains why
only weakly anomalous gold values were intersected.
The high-grade mineralization seen in drill-hole 04 and on
surface is the result of gold-bearing fluids having remobilized or
escaped from the boiling zone by exploiting weaknesses along dyke
contacts.
To add further support, the trend of these structures mimics
the larger scale dilatant feature previously identified from
surface geochemistry and 3D modelling of the airborne magnetic
data".
Ian Bliss – President &
CEO
Six lines at 200 meters spacing were completed totalling about
12 line-kilometres of survey. CSAMT measures electrical resistivity
of rock and is routinely used in exploration for LSE deposits
because data can highlight silicified structural zones prospective
for veins as well as detect clay alteration often associated with
such deposits.
The survey program at Shot Rock was contracted to Clearview
Geophysics of Brampton, Ontario,
and was overseen by Joe Mihelcic, P.
Geo. and a qualified person under NI 43-101. This press release has
also been reviewed by Christine
Vaillancourt, P. Geo. and the Company's Chief Geologist.
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 programs using a model driven
approach. Seabourne Resources Inc. is a wholly-owned subsidiary of
Northern Shield focussing on epithermal gold and related deposits
in Atlantic Canada.
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, geophysical 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.