Northern Shield Continues to Find High-Grade Gold at Root & Cellar Project, Newfoundland
OTTAWA, ON, Feb. 18, 2021 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSX-V: NRN) is pleased to provide an update on the latest batch of rock grab sample results from the Root & Cellar Property in Newfoundland. The Company can earn a 100% interest in the Root & Cellar Property.
Prospecting about 150 metres north of the main trench at the Conquest Zone resulted in the discovery of a large angular boulder assaying 26.4 g/t Au (Figure 3). Sampling of outcrop nearby identified anomalous gold (20 to 691 ppb Au) in five of nine samples with a similar geochemical signature as the boulder. The prospecting was conducted to follow up on the 2020 soil grid sampling, which showed the Conquest Zone area to be extensively anomalous in gold (see Company press release dated October 8, 2020). Clusters of these gold-in-soil anomalies form sub-parallel trends, some of which are a kilometre in length and generally coincident with linear magnetic features (Figure 1). Magnetic inversion modelling shows the magnetic low feature continuing to depth (Figure 2).
Known gold showings within the Conquest Zone occur within an area measuring approximately 700 x 500 metres with gold showings hosted by a variety of intensely altered host rocks that are generally characterized by stockwork quartz veining (Figure 4) and brecciation. Visible gold has been previously noted in a channel sample from the main trench. Soil sample assay results suggest the Conquest Zone could continue a further 700 metres to the east.
A crew will be mobilized to the Property shortly to cut a grid covering the Conquest and Windfall zones in preparation for a ground geophysical survey.
To date, 240 rock samples previously collected from the Root & Cellar Property assay greater than 0.1 g/t Au with 50 samples greater than 1 g/t Au. The styles of mineralization and geochemical signature are quite variable but appear to represent a deformed transitional meso- to epithermal stockwork vein and vein breccia gold-silver system locally associated with galena, sphalerite, copper and tellurium. The veins at Windfall (1.5 km to the north of the Conquest Zone), which are larger than those seen elsewhere on the Property, also contain an orange-coloured manganese carbonate which could be important as this mineral is known to occur in some high-grade deposits.
"This is our second discovery of high-grade gold brought about by following up on the soil sample results which seem to be a reliable indicator of gold in the underlying bedrock. The abundance of gold within the Property and its variable nature and signature is beginning to point to a hybrid meso- to epithermal gold-silver system at Root & Cellar, perhaps not dissimilar to some of the gold occurrences in the Golden Triangle of BC."
Ian Bliss – President & CEO
The program and press release were 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 Eastern Analytical Ltd of Springdale Newfoundland for Au by Fire Assay with ICP-AES finish. 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 programs using a model driven approach. Seabourne Resources Inc. is a wholly-owned subsidiary of Northern Shield focussing on epithermal gold and related deposits in Atlantic Canada.
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.
Northern Shield Resources Inc., Ian Bliss, President and CEO, Tel.: (613) 232-0459, Fax: (613) 232-0760, [email protected]
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