OTTAWA, Dec. 22, 2014 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield") [TSXV: NRN] is pleased to announce that it
has signed a binding Option Agreement with the owners of 7 claims
comprising the K67 Property in the Baie-Comeau area of Quebec. Under the terms of the agreement,
which is subject to TSX-V approval, Northern Shield can earn a 100
% interest in the claims by paying $6,000 and issuing 200,000 shares on signing the
agreement, paying a further $20,000
and 200,000 shares on the first anniversary of the agreement and a
further $25,000 and 200,000 shares on
the second anniversary. The property is subject to a 2% NSR Royalty
payable to the owners, of which 1% can be bought back for
$1 million at Northern Shield's
option.
The property is strategically located 60 kilometers north of the
town of Baie-Comeau and within 10
kilometers of a surfaced road. The Ni-Cu showing was discovered
when a newly constructed forestry road revealed the mineralization.
Only a few samples have been collected from the showing which
measures approximately 50 x 300 meters. To date the most
significant assays include 0.67% Cu and 0.12% Ni, 0.27% Cu and 0.3%
Ni and 0.1% Cu and 0.32% Ni.
"For various geological reasons, we've always been intrigued by
the Ni-Cu-(PGE) potential of this area and this new showing in
particular has caught our attention," says Northern Shield
President and CEO Ian Bliss. "It is
easily accessible and on surface which allows for efficient
exploration, even in the winter months. We look forward to getting
to work on it."
The evaluation of the project was overseen by Christine Vaillancourt, a Qualified Person under
National Instrument 43-101. Samples were prepared by ALS Global in
Val d'Or, Quebec 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 Resources Inc. is a Canadian-based mineral
exploration company built around its platinum group element (PGE)
expertise which forms the basis of its exploration in eastern
Canada.
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.