OTTAWA, Sept. 6, 2018 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that a focussed exploration program is underway at the Shot Rock Gold Property (the "Property") in Nova Scotia as a follow-up to the previous rock sampling program that identified gold-bearing (0.6-1.0 g/t Au) boulders collected along a stream in proximity to a highly anomalous stream sediment sample (1,045 ppb Au). See news release dated August 14, 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.
The purpose of the current program is to:
- conduct stream sediment and rock sampling on the northern flanks of the area of interest to cut off, or extend, the source of the gold in stream sediment samples to the north of the Highway Zone;
- conduct soil sampling and manual trenching east of the stream containing one of the highly anomalous stream sediment samples and the gold anomalous boulders found to date;
- prospect the vicinity of the other highly gold anomalous stream sediment samples; and,
- sample and map a strongly altered structural zone identified nearby, that previous sampling has shown to be highly anomalous in pathfinder elements. This structural zone is exposed near the top of a ridge above gold anomalous stream sediment samples. Initial interpretation suggests this feature may represent the very upper levels of a fault zone that could be the source for the gold anomalous stream and rock samples found below the ridge to the south and along strike to the east, in areas of poor outcrop.
The Company is pleased to report that within a few days of commencing the program, angular to sub-angular boulders of epithermal quartz vein material have been found in the vicinity of the 1,015 ppb Au stream sediment sample. A relatively large angular boulder consisting of colloform banded quartz with thick jasper bands on the vein margin has also been found along a topographic and magnetic lineament 200 metres east of the stream where the initial gold-bearing boulders were found. Photos of several of these samples are available on the Company's website. The samples will be sent for analysis at the end of the program.
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]