OTTAWA, Nov. 22, 2016 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") [TSX-V: NRN] is pleased to announce that a drill crew is being mobilized to the Company's 100% owned Séquoi property in the Labrador Trough, northern Quebec.
The program plans for 5-7 drill-holes totalling 1,000 meters to test 5 geophysical targets that the Company believes to represent large scale Ni-Cu-(PGE) magmatic deposits. The Séquoi targets sit at the head of a large lake bottom sediment dispersion train highly anomalous in Ni-Cu. Each target is of very high conductivity (3-4,000 Siemens) with strong coincident magnetism. The targets are clustered over a larger and deeper magnetic body interpreted by the Company to be an ultramafic magma chamber.
A pilot scale till sampling program was also recently completed at Séquoi and the neighboring Sé2 property. The principal purpose of this test program was to determine the suitability of the overburden for further till sampling in 2017.
However, results of potential importance include:
- Three till samples collected immediately overlying VTEM anomaly SQ8 returned nickel and copper values approximately 2 – 3 times back ground. The three till samples assayed 66, 62 and 61 ppm copper and 74, 81 and 63 ppm nickel. Background values for copper and nickel in the area is 30 and 24 ppm respectively. One sample also returned significant gold (164 ppb).
- A large angular boulder of semi-massive sulphides was also discovered in SW Séquoi. The rock consists of semi-massive sulphides (pyrrhotite and chalcopyrite) hosted in a re-crystallized chert and assayed 1.85% Cu with moderately elevated Zn. We believe this represents a new target type in southwestern Séquoi.
A full-scale till sampling program is planned for Sé2 in 2017.
The drill program at Séquoi will be overseen by Christine Vaillancourt, P. Geo., and a Qualified Person under National Instrument 43-101. Core samples will be analyzed by ALS Global in Sudbury, Ontario and 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. Geophysical modelling and drill-hole planning were undertaken by Alan King of Geoscience North and Joel Dubé of Dynamic Discovery Geoscience Ltd.
Northern Shield Resources Inc. is a Canadian-based company focused on exploring for platinum group element ("PGE") and nickel-copper-PGE deposits. It is known as a leader in grass roots exploration for Ni-Cu-PGEs and the understanding of magmatic systems as it applies to exploration.
Forward-Looking Statements Advisory
This news release contains statements concerning the exploration plans, results and potential Cu-Ni-PGE and other mineralization at the Company's southern Labrador Trough properties and geological, and geometrical analyses of the southern Labrador Trough properties 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]