OTTAWA, Sept. 27, 2013 /CNW/ - Northern Shield Resources Inc. ("Northern Shield") [TSXV: NRN] is pleased to provide an update on the Ikertoq Ni-Cu-PGE project in Greenland. Northern Shield has the right to earn a 50% interest in the Ikertoq property under the terms of an option agreement with Greenland Gold Resources Ltd.
Nine drill-holes totaling 2,124 meters were completed this summer along with surface sampling (73 grab samples) and regional mapping and reconnaissance. A total of 355 samples of drill-core from the program have been sent for analysis. Six of the holes were drilled on the eastern portion of Target A, two into the central portion and one at Target B to the south of Target A (see website). As previously disclosed (see press release dated August 29, 2013), lower than expected concentrations of nickel and copper sulphide were intersected and nothing was seen in the core to explain the conductors identified from the previously completed VTEM survey. No significant copper or nickel assays are reported.
A bore-hole electromagnetic survey (BHEM) and surface pulse electromagnetic (PEM) survey were undertaken near the end of the drill program to better explain the VTEM anomalies, which were the target of the drill program. The results suggest that the anomalies in Target A are likely caused by narrow, highly conductive sub-horizontal ribbons or tubes (conductivity-thickness measurements are up to 10,000 Siemens). To date, no minerals have been intersected in drill core that are conductive. However, a rock sample collected on surface in between drill-holes 13IQ-02 and 06 that assayed 3.2% nickel and 11% chrome (results based on portable XRF analysis) is highly conductive. This could represent the source of the EM anomalies.
Also of importance is the intersection of a PGE-bearing zone in drill-hole 13IQ-09. All 8 samples taken intermittently from 94 m to 152 m depth assayed between 0.2 g/t Pt+Pd and 0.4 g/t Pt+Pd. A second zone of PGE mineralization (0.27 g/t Pt+Pd) was intersected at 254 m and continues to the bottom of the hole which ended at 275 meters (see website for assay table). Both zones of PGE mineralization are associated with extremely low concentrations of sulphide minerals (less than 1%) and may be stratabound.
Northern Shield will continue to study the geophysical and geochemical data from Ikertoq in preparation for follow up exploration next year on both the PGE zone and the highly conductive targets identified from the BHEM and PEM survey.
The exploration program at Ikertoq was overseen by Christine Vaillancourt, a Qualified Person under National Instrument 43-101. Samples from Greenland are being prepared by ALS Global in Sweden 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 is an innovative, results-driven Canadian company focused on Platinum Group Element (PGE) and nickel-copper-(PGE) exploration in Canada and Greenland, and copper-zinc-silver exploration on its Wabassi and Storm properties in northern Ontario. Its mission is to create a successful mineral exploration company through technical excellence and efficient management, where success is measured by the identification and development of high-quality mineral exploration projects, which may ultimately be optioned, sold or developed for maximum return on investment.
Forward-Looking Statements Advisory
This news release contains statements concerning the geophysics, drilling and exploration plans, results and potential PGE and Ni-Cu-PGE and other mineralization at the Ikertoq property, geological, geophysical, geochemical and/or geometrical analyses of the Ikertoq property 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.
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For further information on Northern Shield and its properties, please visit our website at www.northern-shield.com or contact:
Northern Shield Resources Inc.
President and CEO
Tel.: (613) 232-0459
Fax: (613) 232-0760