OTTAWA, March 19, 2019 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to
provide an update on exploration at the Shot Rock Gold Property
(the "Property") in Nova Scotia,
which is being explored for epithermal gold mineralization.
Northern Shield can earn up to an 80% interest in the Property.
On-going grab sampling has continued to locate epithermal-type
quartz vein and, quartz breccia material within the Highway Zone.
Sixteen of thirty-nine samples from the latest batch show anomalous
gold with assays ranging from 0.0025 to 1.4 g/t Au. Some of these
samples contain ginguro-style bands consisting of extremely
fine-grained pyrite as well as clusters of pyrite filling voids
that contain inclusions of argentite, molybdenite and occasional
gold as well as sporadic grains of electrum (native gold-silver
alloy).
More detailed analytical studies to help constrain the relative
positions of the samples within the system and to provide a
potential vector to the core of the system are underway at
Saint Mary's University. Very
preliminary observations of the hand samples have identified many
of the key textural and mineralogical aspects one would expect to
see in classic low-sulfidation epithermal gold systems. These
include:
- Abundant alternating bands of coarser quartz crystals
transitioning to fine-grained colloform banding with "ginguro"
sulfidic bands containing the assemblage of pyrite-argentite (or
other silver carriers)-gold-As-Sb;
- Presence of hematite/barite that indicates a hydrothermal
system that was shallow oxidized, and neutralized and, involved
meteoric water incursion;
- Evidence from fluid inclusions of rapid "flash boiling" which,
along with meteoric water incursion, is critical for gold
deposition. Colloform banding is consistent with boiling in
classic, large epithermal systems.
"Field observation of textures and mineralogy are consistent
with the upper levels of an epithermal system, likely above the
boiling cap, where typically only very low levels of gold are
expected," explains Northern Shield President and CEO, Ian Bliss. "Nonetheless we see an abundance of
gold anomalous material over a considerable and, ever expanding
area, which indicates the fluids were gold-enriched and the system
reasonably efficient at dumping gold and silver. This bodes very
well for what may be encountered below the boiling cap."
The high resolution airborne magnetic survey announced on
February 19th has been
successfully completed. Interpretation of the survey is underway
but distinct features are readily apparent from the survey that are
spatially coincident with where the majority of the mineralized
quartz veins samples have been found to date. Further details of
the magnetic survey may be provided once interpretation is
complete. The survey was flown at 50 metre spaced lines and covered
approximately 50 square kilometres of the Highway Zone. The survey
was undertaken by Prospectair Geosurveys Inc.
The programs are being overseen by Christine Vaillancourt, P. Geo., the Company's
Chief Geologist and a Qualified Person under National Instrument
43-101.
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 in Nevada and
elsewhere, 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.