Three of five holes hit quartz veining and intense alteration
OTTAWA, Feb. 28, 2020 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to provide an update on the inaugural drilling program currently underway at the Shot Rock Property ("Shot Rock") in Nova Scotia, Canada. Shot Rock is being explored for low sulphidation epithermal (LSE) type gold.
To date, approximately 1,150 metres of the planned 2,000 to 2,500-metre diamond drilling program has been completed at the Highway Zone, with the fifth hole now underway. Three hundred and thirty samples are in, or in transit, to the lab for multi-element analysis including gold, silver and base metals.
Three of the five holes (SR20-02, 04 and 05) have intersected various forms of LSE quartz veining and associated intense alteration on a semi-continuous basis from surface to down-hole depths of approximately 132, 144 and 100 metres, respectively (Note: drilling of hole SR20-05 is on-going). Veining and alteration continue below these depths but on a more irregular and less intense basis. Quartz veining, including veins exhibiting colloform-crustiform-comb textured quartz with ginguro-like bands and local notable sulphides and tellurides, were observed and are features consistent with large economic LSE gold systems. An intensely altered, 22-metre-wide quartz-feldspar porphyry dyke containing blebs and veinlets of pyrite was also intersected.
Drill-hole SR20-01 did not intersect significant veining or alteration. Drill-hole SR20-03 intersected strong alteration with some veining from surface to a down-hole depth of approximately 23 metres and then moderate, sporadic alteration to the end of the hole (450m).
A drill plan map accompanying this release shows the collar locations and drill hole traces for holes completed to date. Pictures of representative sections of core from some of the completed holes is also appended to this release.
"We are very pleased with the visual observations to date from the Shot Rock drilling program. We see significant widths of zones exhibiting strong alteration and quartz veining. We clearly have a very active and long-lived system, key criteria in order to "grow" a large mineralized system, and although complex, we are beginning to get a much better idea of the geometry and critical components of the gold system at Shot Rock. We look forward to continuing the program and reporting analytical results to shareholders as they become available."
- Northern Shield President and CEO, Ian Bliss
The drilling program is 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.
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 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.
For further information: Ian Bliss, President and CEO, Tel.: (613) 232-0459, Fax: (613) 232-0760, [email protected]