OTTAWA, Oct. 10, 2019 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce partial results from the inaugural phase of till sampling from the Root & Cellar Property ("Root & Cellar" or the "Property") in Newfoundland which is being explored for low sulphidation epithermal gold-silver mineralization. Northern Shield has an option to earn up to a 100 % interest in Root & Cellar (see press release dated May 21, 2019).
The till sampling survey covered the Drop and Conquests Zones as well as several structures deemed of interest. Only partial results are available at this time.
Of particular significance are the results from the Drop Zone area which, appear to have defined four parallel zones anomalous in silver +/- tellurium, +/- sulphur +/- gold. The Drop Zone showing is characterised by high silver to gold ratios (approximately 25:1) and the presence of tellurium-bearing minerals including hessite (silver-telluride). A hessite-bearing boulder has also been found recently south of the Drop Zone at a location that coincides with the southern most silver soil anomaly trend. Three of the anomalous trends coincide with topographic highs. The two shortest trends, including that which hosts the Drop Zone showing have a strike length of approximately 250 metres. The zone immediately north of the showing has a strike-length of 500 metres and is open at both ends. A fourth zone defined from the till sampling is just apparent at the northern end of the survey grid.
As at other locations within the Property, the mineralization in the Drop Zone is associated with strong silicification of the host rock which is more resistant to erosion and hence may form topographic high features.
"The soil sample results at Drop Zone paint a compelling case of a series of three or four sub-parallel zones that could host further mineralization to that already exposed at the Drop Zone discovery," explains Northern Shield President and CEO, Ian Bliss.
Trenching permits have been received and will be amended to include new targets identified from the till survey.
The program was overseen by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101. Samples were analyzed by ALS Global in Sudbury, Ontario and in Vancouver, BC, for Au by Fire Assay with ICP-AES finish and base metals by four acid digestion and ICP-AES. All standards and duplicates by ALS 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 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 Root & Cellar property, 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]