OTTAWA, ON, Sept. 8, 2020 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to update progress on Phase 2 drilling and other
exploration activities at its Shot Rock Gold Project ("Shot Rock")
in Nova Scotia and Root &
Cellar in Newfoundland. The
Company is exploring for low sulphidation epithermal ("LSE") gold
mineralization and, has the right to earn an 80% interest in the
Shot Rock Property.
To date, eight diamond drill holes, 20SR-09 through 20SR-16,
have been completed in the Phase 2 drilling program (see Figure 1),
totalling just over 2,800 metres. Assays for the first six drill
holes, 20SR-09 through 20SR-14, have been received, including those
for a large quartz vein intersected in drill-hole 20SR-11 (please
refer to a Company press release dated July
23, 2020). Similar large intersections of quartz veins and
breccias were observed in subsequent drill holes 20SR-12 and
20SR-16. Quartz veins from holes 20SR-11 and 12 returned anomalous
gold values with a high of 0.52 g/t Au. Assays are pending for the
remaining two drill holes, 20SR-15 and 20SR-16. These large quartz
veins coincide with targeted zones of anomalously low magnetic
response observed in airborne magnetic data and interpreted to be
regions where trace magnetite has been destroyed by hydrothermal
fluids associated with the mineralizing hot spring system.
Mineral assemblages observed in large veins encountered in Phase
2 drill holes generally share similarities to the high-grade gold
zones intersected in hole 20SR-04 that encountered 2.45 metres of
12.6 g/t Au including 1.0 metre of 17.3 g/t Au within
quartz-adularia veining with electrum (native gold-silver alloy),
mineralized veining typical of LSE deposits. Recent detailed study
of subtle textures and alteration assemblages from the vein
encountered in hole 20SR-11 suggests that it is possibly above or
on the fringe of the prospective boiling zone where higher gold
grades would be expected. The Company therefore plans for more
drill testing to test this potential.
"Although the assays
from drill-hole SR20-11 did not yield high gold grades, we remain
very encouraged by indications of the presence of a large LSE gold
system at depth. We know from our first phase of drilling that gold
grades can increase significantly over short distances, both
laterally and vertically. Now that we are able to identify areas
prospective for larger veins from airborne magnetic data, we have
to hone in on the boiling zone where we expect to encounter higher
gold grades. Recently, Dr. Quinton
Hennigh with investor Crescat Capital, has advised us on the
merits of using controlled-source audiomagnetotellurics ("CSAMT")
to better differentiate areas that may host feeders for the hot
spring system. CSAMT data collection will start imminently and will
greatly augment vectoring of future drilling. We continue to
improve our understanding of this exciting new gold system while
recognizing that persistence leads to
discovery."
-
Northern Shield President and CEO, Ian
Bliss
Through ongoing analysis of infrared data collected from the
core, along with other parameters, well-defined patterns of
correlation are beginning to emerge that can then be used to vector
drilling towards the boiling zone and targeted high-grade gold.
Results will be combined with a thorough integration and analysis
of all structural data, with the understanding that persistent
drilling will be required to vector in on higher-grade gold
mineralization. CSAMT geophysical surveys have been used with great
success in identifying deep-seated structures associated with
high-grade feeder zones in many other LSE systems. A CSAMT
geophysical survey is planned to commence as soon as crews become
available.
Update on Root and Cellar
Analytical results from the
last two batches of soil samples from the Root and Cellar
exploration program are expected shortly. Once these have been
received, the data will be contoured and interpreted with targets
prioritized geophysical surveying followed by drilling. Cursory
observations of the data received to date continues to indicate an
extensive "gold in soil" anomaly in the Conquest Zone area and a
new target area located north of Conquest that contains the highest
soil anomaly on the property to date (493 ppb Au).
The drilling program at Shot Rock was contracted to Logan
Drilling Group based in Stewiacke, Nova
Scotia, and is overseen by Christine
Vaillancourt, P. Geo., the Company's Chief Geologist and a
Qualified Person under National Instrument 43-101. Samples
from both programs were analyzed by ALS Global in Vancouver, BC, for Au by Fire Assay and
multi-elements by four acid digestion and ICP-AES (rock) and for
multi-elements including Au by aqua-regia digestion with ICP-MS
(till). All standards and duplicates by ALS Global 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 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 in Nova Scotia,
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.
