OTTAWA, Jan. 19 /CNW/ - Northern Shield Resources Inc. ("Northern
Shield") [TSX-V: NRN] is pleased to announce that field crews are being
mobilized to the Wabassi property to prepare for ground and down-hole
EM and magnetic surveys that will be used to prioritize several targets
that have been selected for diamond drill testing that is planned for
early February. The focus of the geophysics and drill program is a very
strong and large, magnetic and VTEM anomaly identified by an airborne
survey carried out subsequent to the initial drill program at Wabassi
during May of last year. This anomaly (Anomaly 'E') is 500 meters in
length and 70 meters thick. Two other new conductors defined by ground
geophysics completed last spring will also be tested in the A1 Zone
along with anomaly "C" which now can be traced for approximately 1
kilometer along strike (see Northern Shield's website for maps and
details). The size and scope of the drill project will depend, amongst
other things, on the geophysical modeling.
The geophysics and diamond drilling programs are being funded by
Discovery Harbour Resources Corp. under the option agreement whereby
Discovery has the option of earning a 51% interest in the Wabassi
property by incurring $3.4 million in exploration expenditures by March
2012. Prior to the current exploration programs, Discovery had spent
$1.7 million towards its earn-in.
Northern Shield also announces that the drill program at Max was
frustrated and delayed by on-going technical difficulties largely
brought about by the repeated failure of a single component of the
drill. The program was suspended part way through the third drill-hole
by Northern Shield until the cause of the failures could be determined
and the problem rectified. The first hole drilled, targeting a discrete
VTEM anomaly that management believes coincides with a feeder conduit,
also deflected off-course and passed over the top of the anomaly.
Northern Shield has since been informed by the drilling company that
the problem has been remedied and as such Northern Shield looks forward
to returning to the area.
All exploration programs will be overseen by Christine Vaillancourt,
Chief Geologist for Northern Shield and a Qualified Person under
National Instrument 43-101.
Northern Shield is an innovative, results-driven Canadian company
focused on Platinum Group Element (PGE) exploration in Ontario and
Quebec. Its mission is to create a successful mineral exploration
company through technical excellence and efficient management, where
success is measured by the identification and development of
high-quality mineral exploration projects, which may ultimately be
optioned, sold or developed for maximum return on investment.
Forward-Looking Statements Advisory
This news release contains statements concerning the drilling and exploration
plansand potential for Ni-Cu-PGE and other mineralization, at the Max
and Wabassi properties, geological, geophysical and/or geometrical
analyses of the Max and Wabassi propertiesand other expectations,
plans, goals, objectives, assumptions, information or statements about
future events, 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
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
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
SOURCE NORTHERN SHIELD RESOURCES INC.
For further information:
For further information on Northern Shield and its properties, please visit our website at www.northern-shield.com or contact:
Northern Shield Resources Inc.
President and CEO
Tel.: (613) 232-0459
Fax: (613) 232-0760