Soil sampling program targeting LSE Gold and Copper porphyry systems
OTTAWA, May 26, 2020 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce field exploration has commenced at its Root & Cellar Property ("Root & Cellar" or "the Property") in Newfoundland, Canada. Root & Cellar is being explored for low-sulphidation epithermal (LSE) type gold and copper porphyry mineralization. Northern Shield can earn a 100% interest in the Property subject to the terms of an Option Agreement signed on May 21, 2019.
The exploration underway includes the collection of 1,000-1,500 soil samples from a grid measuring approximately 5.5 x 3.5 kilometres. The program will expand on the pilot-scale soil sampling program completed last year, which successfully identified gold and silver-tellurium-gold anomalies in the vicinity of the Conquest and Drop Zone showings respectively. The survey will also include the Creston copper showing.
"This phase of exploration at Root & Cellar is designed to bring the project up to being drill ready by the end of 2020, if conditions allow. Our focus at Root & Cellar is directed to both epithermal gold and copper porphyry potential. We will use the same methodical and model-driven approach to exploration here that brought us a successful discovery at Shot Rock."
- Ian Bliss, President & CEO
An intensive mapping and rock sampling program will be conducted at the same time as the soil sampling, with the objective of delineating the alteration, mineralization and structure associated with the known occurrences. Abundant boulders and outcrops showing strong epidote alteration and evidence of acid leaching has been previously noted on the property. Mapping will help determine if this could represent the outer alteration zone of a copper porphyry system. There is growing indication that the Drop Zone and Creston Copper Showing are part of an up-lifted block whereby the top of a copper porphyry system could have been telescoped to the level of the Conquest epithermal gold showing. The Drop Zone itself may represent an intermediate sulphide vein system hosting silver-tellurium-gold +/- zinc, lead and molybdenum which are not uncommon in the upper periphery to copper porphyries.
Details on the Company's up-coming second phase of diamond drilling at Shot Rock will be provided shortly.
The mapping and soil sampling is being managed and overseen by Bryan Sparrow of Eastern Geo Services a registered professional geologist (PEGNL) and a Qualified Person under National Instrument 43-101. This press release and program has been reviewed Christine Vaillancourt, P. Geo., and the Company's Chief Geologist.
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 copper porphyries, and other mineralization at the Company's Root & Cellar and Shot Rock properties in Newfoundland and Nova Scotia, 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.
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