OTTAWA, ON, Sept. 7, 2022 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that the grab rock samples collected adjacent to a newly identified geophysical target in the Conquest Zone at Root & Cellar ("Root & Cellar" or the "Project") have returned anomalous to significant gold grades. Root & Cellar is located on the Burin Peninsula in southeastern Newfoundland. Northern Shield can earn up to a 100% interest in the Project, which is being explored for epithermal gold-silver and porphyry-copper type mineralization.
All six of the samples were collected between 40 and 170 m from the recently identified Eastern Conquest Target (see Company News Release August 16, 2022). The six samples assayed 111.5, 7.5, 2.2, 1.3, 0.94 and 0.71 g/t Au. Nearly all samples contain elevated tellurium. These samples, along with other boulders containing high-grade gold previously reported (see Company News Release December 15, 2021) and anomalous soil samples, together form a very well-defined dispersion trend pointing back to this target which is otherwise covered by overburden and bog. Untested, near surface IP anomalies also exist nearby and could reflect the feeder system to the Eastern Conquest Target.
"We are very happy with the latest sample results which include the highest gold grades reported from Root & Cellar to date. The fact that these were collected adjacent to the newly identified Eastern Conquest Target makes the results even more exciting and work is continuing in this area. With our growing understanding of the geology and structures we are better able to pinpoint areas of higher potential for sampling. Once again, prospector and Root & Cellar discoverer, Jeff Brushett, has taken that geological knowledge and converted it into further gold discoveries; the highest gold grades in the Burin Peninsula, as far as we are aware."
- Ian Bliss, Northern Shield President and CEO
The Conquest Zone is being explored for epithermal gold-silver mineralization largely of high-sulphidation affinity. Mineralization appears to have two components: 1) Flat-lying, east-west trending "lithocap" type mineralization associated with intensely silica, pyrite and potassium alteration that has exploited unconformities and other lithological contacts, and 2) sub-vertical, north-south trending feeder zones. As these are deeper-seated features, their interpretation is largely based on geophysics but they are seen to outcrop in several location in the Central Conquest Zone where they are manifest as various pyrite-bearing hydrothermal breccias and quartz veins and typically carry higher gold grades than the lithocap-type mineralization.
Samples were analyzed by ALS Global in Vancouver, BC, for Au by Fire Assay and multi-elements by four acid digestion and ICP-AES. All standards and duplicates by ALS Global meet targeted values. This news release was reviewed by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101.
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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