Makes New Copper-(PGE) discovery in southern Labrador Trough
OTTAWA, Sept. 8, 2014 /CNW/ - Northern Shield Resources Inc. ("Northern Shield") (TSXV: NRN) is pleased to announce partial results from exploration and reconnaissance on several of its 100% owned Labrador Trough projects.
The most significant samples, for which results are available, assayed 11.1 g/t 3E (3E = 4.6 g/t Pt, 3.8 g/t Pd, 2.7g/t Au) and 0.92% Cu and 2.8 g/t 3E (1.3 g/t Pt, 1.1 g/t Pd, 0.4 g/t Au) and 0.26% Cu. The samples were collected proximal to the Eastern Showing at Idefix which was newly identified late last year. The Eastern Showing is characterized by being richer in Pt than Pd, in contrast to the Idefix Reef and mineralization at La Colline where Pd:Pt ratios are typically 3:1. Assays are still pending for 160 of the 196 samples collected from the Idefix and Brian properties in the northern Labrador Trough.
"We continue to discover significant PGE mineralization on each return to our northern Labrador Trough properties, explains Ian Bliss; the Idefix property in particular, contains several distinct zones and styles of PGE mineralization including a platinum-rich zone, that is otherwise unusual in the Labrador Trough"
In June of this year, the Company staked a new property (Huckleberry) in the southern Labrador Trough based on its potential to host Cu-(Ni)-PGE mineralization. Three samples from a gossanous outcrop measuring approximately 40 x 50 metres and located at the contact between an olivine gabbro and porphyritic gabbro assayed 1.3% Cu and 0.54 g/t Pt+Pd, 1.2% Cu and 0.59 g/t Pt+Pd and 0.6% Cu and 0.45 g/t 2PGE. Four lake sediment samples from regional government surveys located 1-3 kilometres along strike to the south, are highly anomalous (98th percentile) in copper. The mineralization is also centered on a 3 kilometer long conductive zone identified in a regional government airborne survey.
"This represents a new target type for the Company," says President and CEO, Ian Bliss, "it is primarily a magmatic copper target with PGE credits. If the conductive zone and lake sediment anomalies identified in the government surveys are related to the newly discovered mineralization, the target could be quite sizeable."
The exploration programs were overseen by Christine Vaillancourt, a Qualified Person under National Instrument 43-101. Samples are being prepared by ALS Global in Val D'Or, Quebec and then analyzed by ALS Global in Vancouver, BC, for Au, Pt and Pd by Fire Assay with ICP-AES finish and base metals by four acid digestion and ICP-AES.
Northern Shield Resources Inc is a Canadian-based mineral exploration company built around its platinum group element (PGE) expertise which forms the basis of its exploration in eastern Canada.
Forward-Looking Statements Advisory
This news release contains statements concerning the exploration plans, results and potential PGE and Cu-(Ni)-PGE and other mineralization at the Company's Labrador Trough properties, geological, and geometrical analyses of the Labrador Trough properties and comparisons of the properties to other known Ni-Cu-PGE deposits, and 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 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: Northern Shield Resources Inc.: Ian Bliss, President and CEO, Tel.: (613) 232-0459, Fax: (613) 232-0760, [email protected]