OTTAWA, Sept. 20, 2018 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that it has identified epithermal quartz veining in bedrock at the Shot Rock Gold Property (the "Property") in Nova Scotia. 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.
To date, five outcrops over an area measuring approximately 100 x 35 metres have been discovered hosting various styles of epithermal quartz veining. This includes stockwork of thin, but strongly colloform banded, cross-cutting quartz veins brecciated quartz-chalcedony-jasper and larger colloform banded veins. The discovery suggests that the numerous banded quartz boulders found nearby, some of which are gold-bearing, have a local source. Sheeted quartz veins have also been found intruding quartz pebble conglomerate in the vicinity of the altered structural zone at the western end of the area of interest
Numerous other angular and well banded boulders have been found in the area with some containing fine sulphides and common dark grey bands The area includes several highly anomalous stream sediment samples (up to 1,045 ppb Au) whose follow-up lead to the discovery of numerous gold anomalous boulders (up to 1.0 g/t Au) consisting of colloform and crustiform banded epithermal quartz veins, a distinctly altered structural zone, and now the discovery of epithermal veining in bedrock. (please see northern-shield.com)
"We are very pleased that the persistence and methodical approach of our geologists and prospector is paying off. We have taken a 180 square kilometre property, with very little historical background data, and focussed in on at least one area of significant interest, of approximately 4 square kilometres, within a few months," explains Northern Shield President and CEO, Ian Bliss. "This has been our wheelhouse for years when exploring for Ni-Cu-PGEs; a model driven regional exploration program; and we have successfully translated that to epithermal gold exploration in Nova Scotia."
The textures and mineralogy of the quartz vein material are all generally consistent with the upper levels of an epithermal gold system, likely above or near, the boiling cap. Boiling caps form at the level where rising boiling fluids, which carry the gold, interreact with cooler near surface water (i.e., the water table). This results in epithermal quartz veins that typically show significant and rapid vertical zonation in gold grades from relatively low-grades above the cap to higher grades at, and below, the cap.
The soil, rock and stream sediment samples have been shipped to the laboratory for analysis.
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 from the program will be 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]