OTTAWA,
ON, Sept. 15, 2023 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the "Company") (TSXV:
NRN) is pleased to announce that grab rock sample assays from
2.0 g/t to 26.0 g/t Au have been received from its trenching
program in the Conquest Zone at Root & Cellar ("Root &
Cellar" or the "Project"). 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,
both associated with tellurium (Te).
Fourteen of 28 grab and composite rock samples collected from a
trenching and sampling program at the Conquest Zone in August
(Company News Release dated August 22,
2023), assayed between 2.0 and 26.0 g/t Au, including a grab
rock sample from 30 metres to the west of the trench, which assayed
7.3 g/t Au. This sample lies on the western side of a 73 metre
wide, north-trending, structural corridor in which the
above-mentioned trench is also located and is underlain by a
distinct north-trending IP chargeability anomaly. The textures and
mineralogy suggest that the outcropping mineralization may
represent the top of the boiling zone of a low-sulphidation,
epithermal, gold-tellurium-silver system.
Grab rock sampling of the Creston Copper Zone returned three
samples returning concentrations between 0.9 and 1.75% Cu with
another containing 0.5% Mo (molybdenum) and 185 ppm Te, suggesting
the presence of a porphyry-type system. Results from the grab rock
sampling at the Conquest and Creston zones are shown in Table 1.
A 500 metre diamond drilling program has commenced which is
largely focussed on testing IP geophysical anomalies in the
Conquest Zone and the gold-bearing trench at depth, targeting the
presumed boiling zone where higher gold grades are expected.
Table 1. Summary of grab rock samples collected from the
Conquest Zone and the Creston Zone.
Sample
|
Zone
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
Te
(g/t)
|
RC23-5056A
|
Conquest
|
26.0
|
11.7
|
-
|
-
|
RC23-5059L
|
Conquest
|
8.3
|
9.2
|
-
|
4.6
|
RC23-5064A
|
Conquest
|
7.8
|
4.9
|
-
|
-
|
RC23-5059K
|
Conquest
|
5.6
|
8.2
|
-
|
6.2
|
RC23-5056B
|
Conquest
|
5.1
|
6.7
|
-
|
5.9
|
RC23-5050A
|
Conquest
|
4.6
|
8.0
|
-
|
4.7
|
RC23-5046A
|
Conquest
|
4.1
|
1.3
|
-
|
-
|
RC23-5059E
|
Conquest
|
3.6
|
3.9
|
-
|
-
|
RC23-5059I
|
Conquest
|
3.4
|
3.3
|
-
|
-
|
RC23-5066A
|
Conquest
|
3.3
|
27.9
|
-
|
-
|
RC23-5059J
|
Conquest
|
2.9
|
1.5
|
-
|
-
|
RC23-5058A
|
Conquest
|
2.4
|
3.8
|
-
|
-
|
RC23-5059M
|
Conquest
|
2.3
|
3.3
|
-
|
-
|
RC23-5006A
|
Creston
|
-
|
2.5
|
0.94
|
22.0
|
RC23-5042A
|
Creston
|
-
|
-
|
1.20
|
5.1
|
RC23-5043A
|
Creston
|
-
|
-
|
1.70
|
2.7
|
"We are very happy to have commenced another drilling program at
Root & Cellar, particularly after the recent discovery of
visible gold and our better understanding of the geometry of the
system. The visible gold, along with consistent
gold mineralization at the top of the boiling zone in what
appears to be a very wide system, is very encouraging. The current
drilling program is designed to follow the mineralization,
including the visible gold, to depth into the boiling zone. Based
on the IP chargeability and resistivity, the core of the
boiling zone is expected to be encountered below 50 metres
depth.
- Ian Bliss,
Northern Shield President and CEO
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.
About Northern Shield
Northern Shield Resources Inc.
is a Canadian-based company, known as a leader in generating
high-quality exploration targets, that views greenfield exploration
as an opportunity to discover a near surface, tier one asset, at
relatively low cost. We implement a model driven approach in
exploration to reduce risks associated with early-stage projects
for ourselves, our shareholders, and the environment. This approach
is what led to the discovery of an alkaline-related
gold-silver-tellurium and porphyry copper system at the Root &
Cellar Project in Newfoundland.
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.