OTTAWA, Aug. 14, 2018 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") ( TSXV: NRN) is pleased to announce assay results from rock grab samples that were collected from the Shot Rock Property, (the "Property") contemporaneously with the stream sediment sampling disclosed in a news release on August 8, 2018. Shot Rock is being explored through Northern Shield's wholly-owned subsidiary, Seabourne Resources Inc., which can earn up to an 80% interest in the Property.
Significantly, the three highest grab samples which assayed 1.0, 1.0 and 0.6 g/t Au and 11.0, 3.2 and 5.1 g/t Ag, respectively, are all float samples of colloform-banded quartz veins, collected along a stream as follow up to anomalous rock grab samples previously disclosed in a news release dated July 24, 2018. These three samples also contain elevated barium and elevated but sporadic arsenic and antimony, all of which are typical pathfinder elements in this environment.
These three samples were collected along a stream bed that also contained a stream sediment sample that assayed 1,045 ppb Au (1.05 g/t Au). Another sediment sample from a neighbouring stream 650 metres away assayed 679 ppb Au (0.68 g/t Au). It is important to note that the stream sediment samples have not been manually concentrated. Collectively, the grades of gold in the stream sediment samples, their distribution and the graded zonation of barium and gold along the stream, are strongly suggestive of a local bedrock source. Three other streams which contain anomalous gold in sediments (up to 1,015 ppb Au), are located to the west and drain the same geological feature, suggesting a 4.5 kilometre strike length. (see updated presentation on website.)
"We are consistently improving on the gold content of rock samples every time we return to Shot Rock," points out Northern Shield President and CEO, Ian Bliss. "We are very happy with the progress to date that required a methodical approach due to the size of the Property and limited data. We acquired this project based on the identification of panned gold at a certain stratigraphic level and some "out of the box thinking" by a prospector. Early on, we detected an epithermal signature in the area at the same time as the geologists from the Department of Natural Resources, Nova Scotia were drawing similar conclusions about an occurrence 80 kilometres west. We have now clearly identified classic, epithermal textured quartz veins, and they are gold bearing. We now need to find the bedrock source of these float samples. The next phases of exploration will move toward developing drilling targets and I am excited about the grades we could encounter at depth from a future drilling program."
The textures and mineralogy of the quartz vein material are all very consistent with the upper levels of epithermal gold systems, likely above the boiling cap. Boiling caps form at the level where rising boiling fluids, which carry the gold, interreact with cooler near surface water (water table). This results in epithermal quartz veins that typically show significant and rapid vertical zonation in gold grades from low-grades above the cap to higher grades below.
The next phase of exploration will include stream sediment and rock sampling on the northern flanks of the area of interest to cut off the source of the gold in the streams contemporaneous with manual and mechanical trenching in proximity to where the auriferous float samples are most abundant.
The program is being 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 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 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 Nova Scotia properties, 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: Northern Shield Resources Inc., Ian Bliss, President and CEO, Tel.: (613) 232-0459, Fax: (613) 232-0760, [email protected]