OTTAWA, ON, June 1, 2021 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that a ground geophysics program consisting of Spectral IP (Induced Polarization) and Resistivity has commenced at the Root & Cellar Gold-Silver Project ("Root & Cellar" or the "Project") in Newfoundland. The Company can earn a 100% interest in the Property which is being explored for epithermal gold-silver mineralization and porphyry copper deposits.
The geophysical survey, which is expected to take two weeks to complete, is planned to total 25 line-kilometres and covers the Conquest Zone and recently discovered Windfall Zone. The survey results will be used to guide drill-testing of these two zones later this summer.
The Conquest Zone represents the principal gold target at Root & Cellar. Soil sampling has outlined a distinct area measuring 1,500 x 600 m of anomalous gold-in-soil, associated with other pathfinder elements such as arsenic (As) and antimony (Sb). Within the Conquest Zone, past surface sampling by Northern Shield and the prospector located gold mineralization (in grab samples assaying 0.1 to 45.5 g/t Au) over an area measuring approximately 630 x 400 metres. Although epithermal in nature, the mineralization appears more akin to the high sulphidation variety, though colloform-crustiform banded veins, more typical of low sulphidation, have also been observed recently at the Conquest Zone. The Windfall Zone was discovered in late 2020, following up on strong gold-in-soil anomalies where twenty-five large angular boulders and one outcrop of sulphide-bearing quartz vein were uncovered along a 200 metre traverse across a regional fault zone. The quartz veins returned assays that range from 0.1 to 17.0 g/t Au and silver that range from 0.4 to 53.0 g/t Ag (see Company press release January 13, 2021).
"We eagerly look forward to the completion of the ground geophysical surveys so we can quickly move to the drilling phase and test these large, gold and silver bearing targets."
Ian Bliss – President & CEO
The survey program at Root & Cellar was contracted to Clearview Geophysics of Brampton, Ontario, and is being overseen by Joe Mihelcic, P. Geo. and a qualified person under NI 43-101. This press release has also been reviewed by Christine Vaillancourt, P. Geo. and the Company's Chief Geologist.
Final assays from the drill program that ended recently at the Shot Rock Property are expected shortly and results will be released as soon as all data has been compiled.
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 programs using a model driven approach. Seabourne Resources Inc. is a wholly-owned subsidiary of Northern Shield focussing on epithermal gold and related deposits in Atlantic Canada.
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 Root & Cellar Property, geological, geophysical 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.
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