OTTAWA, April 29, 2020 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is
pleased to announce that all drill core assays from the inaugural
drilling program at the Shot Rock Property ("Shot Rock" or the
"Property") in Nova Scotia have
been received and include high-grade gold intercepts of up to 22
g/t Au, the highest gold grades to date from Shot Rock. Northern
Shield can earn up to an 80% interest in Shot Rock. The Property is
being explored for low sulphidation epithermal (LSE) gold
mineralization.
Eight drill-holes, totalling approximately 2,189 metres, have
been completed at the Highway Zone (see Figure 1) with the purpose
of determining the geometry of the system, identifying which
structures are gold bearing and validating the LSE model that gold
grades increase significantly as a function of depth in the boiling
zone.
Highlights:
- Maiden drilling program to test for an LSE gold system
consisted of eight holes totalling 2,189 metres.
- Drilling was highlighted by 2.45 metres of 12.6 g/t Au
including a 1.0 metre interval of 17.3 g/t Au in hole 20SR-04.
- Highest grade intercept encountered to date was 0.4 metres of
22.1 g/t Au at a depth of only 112 metres from surface in the same
hole. Importantly, this shows a rapid increase in grade with depth,
from the anomalous values encountered at/near surface.
- Breakthrough in geological understanding along with the higher
gold grades supports interpretation of a large-scale and productive
LSE gold system that the Company can now move forward confidently
with planning further drilling.
Gold Mineralization
The most significant intercepts
occurred in drill-hole 20SR-04 with intervals of 4.24 g/t Au and
2.4 g/t Ag over 3.15 metres including 22.1 g/t Au and 8.8 g/t Ag
over 0.4 metres and 12.6 g/t Au and 9.1 g/t Ag over 2.45 metres
including 17.3 g/t Au and 10.3 g/t Ag over 1.0 metre (see
Figure 2 & 3). The top of drill hole 20SR-04 also intersected
anomalous gold (0.025 to 0.78 g/t Au) from surface to a depth of
39.7 metres averaging 0.09 g/t Au. Importantly, this drill hole
exemplifies the rapid increase in gold grade as a function of depth
that LSE deposits are known for, from approximately 0.1 g/t Au at
surface (silica cap) to 22 g/t Au at a vertical depth of 112
metres below surface. Four other drill holes intersected anomalous
gold values between 0.025 g/t and 0.547 g/t Au. The intervals
comprise quartz-adularia veins hosted in highly altered and
brecciated gabbroic to intermediate sills.
Table 1.
Significant Gold Assays from Drill-hole 20SR-04
|
|
|
|
|
|
|
|
From
(m)
|
To
(m)
|
Interval*(m)
|
Au
(g/t)
|
Ag
(g/t)
|
|
136.6
|
140.0
|
3.15
|
4.24
|
2.43
|
Including:
|
136.6
|
137.5
|
0.90
|
1.66
|
0.90
|
|
137.75
|
138.7
|
0.95
|
1.33
|
1.70
|
|
138.7
|
139.1
|
0.40
|
22.1
|
9.80
|
|
139.1
|
140.0
|
0.90
|
1.97
|
1.00
|
|
From
(m)
|
To
(m)
|
Interval*(m)
|
Au
(g/t)
|
Ag
(g/t)
|
|
163.20
|
165.65
|
2.45
|
12.58
|
9.10
|
Including:
|
163.20
|
164.20
|
1.00
|
8.11
|
5.20
|
|
164.20
|
165.20
|
1.00
|
17.30
|
10.30
|
|
165.20
|
165.65
|
0.45
|
12.00
|
15.10
|
|
*True width is not
known at this time
|
The orientation of the gold-bearing structures, which was
previously uncertain due to very limited surface exposure, is now
also better understood. This will greatly assist in the targeting
of follow-up drill holes. Specifically, valuable insight was gained
from the robust and distinct halos of pathfinder
elements associated with the gold mineralization (see below
for details). The Company believes that it has now isolated the
structures that host the gold mineralization and has a much better
understanding of the camp-scale regional features (see below for
details) that influenced the location of the LSE gold system
centred on the Highway Zone. This breakthrough delivers the
geological opportunity that supports a large-scale and productive
LSE gold system so the Company can now move forward confidently
with further drilling.
Phase 2 Drill Targets - Highway Zone
Drill core
observations show that the alteration associated with the
mineralization unequivocally causes a reduction in the magnetic
signature of the host rocks. An area of distinctly lower magnetic
signature is apparent from the airborne magnetic survey and
coincides with the projected continuation of the gold
mineralization intersected in drill-hole 20SR-04. (see
Figure 2). This feature will be a high-priority target in the
follow-up drilling program currently being planned. Other priority
targets will include two other faults which are well defined on
both the airborne magnetic survey and Lidar imagery, and are
parallel to the gold-bearing structure intersected in drill hole
20SR-04.
"We are delighted to see high grades from the inaugural
drilling program at Shot Rock. The rapid increase in gold grade
over a vertical distance of only 100 metres is impressive and
consistent with LSE gold systems. Combined with the structural and
pathfinder elements compilation, the high gold assays from the
drilling program now provide a very compelling picture of a large
and productive LSE system. The Company now feels it can move
forward confidently, following-up on the higher grades and the
correct structures, which we believe will quickly and significantly
expand the gold bearing zones."
-
Northern Shield President and CEO, Ian
Bliss
Technical Aspects - Pathfinders
Surface
sampling over the past few years has defined a suite of pathfinder
elements often associated with the LSE gold mineralization.
Drilling has confirmed and refined the nature of these pathfinder
halos around the gold mineralized structures and provides a very
useful tool to guide drilling and further surface sampling (see
presentation on website). Specifically, barium (Ba) forms the most
extensive halo followed inward by elements such as antimony (Sb).
In all cases, the pathfinder elements penetrate much further into
the hanging wall (above the fault), than the footwall. Molybdenum
(Mo) appears to be constrained to the centre of main gold-bearing
structures.
These pathfinders serve two important purposes: firstly, they
identify structures on surface that are related to the gold
mineralization, providing an outline of the overall LSE gold system
and targets for further drilling; secondly, on a drill-scale, they
provide excellent vectors towards the mineralized structures. The
signature of drill hole 20SR-02, for instance, indicates that its
position is above and very proximal to the gold-bearing vein system
intersected in hole 20SR-04.
Technical Aspects – Pull Apart
Structure
The integration of structural and geochemical data
gathered from the drilling program, together with data from surface
work completed by Northern Shield since 2017, suggests that the
Highway Zone may be at the centre of a pull-apart structure. Such
structures result in zones of dilatancy that are then easily
infiltrated by gold-bearing fluids rising from depth, providing the
ideal geological environment for the formation of large quartz
veins in low sulphidation systems (see presentation on website). On
a camp-scale, the bounds of the interpreted pull-apart structure
are largely coincident with samples anomalous in gold and/or
pathfinder elements (see presentation on website).
The drilling program was contracted to Logan Drilling Group
based in Stewiacke, Nova Scotia,
and was overseen by Christine
Vaillancourt, P. Geo., the Company's Chief Geologist and a
Qualified Person under National Instrument
43-101. Samples from the program were
analyzed by ALS Global in Sudbury,
Ontario and in Vancouver,
BC, for Au by Fire Assay with ICP-AES finish and base metals
by four acid digestion and ICP-AES. All standards, blanks and
duplicates meet targeted values.
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 property, 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.