Northern Shield Resources: Exploration Update, Shot Rock Gold Property, Nova Scotia; Airborne Magnetic Survey to Commence
TSX VENTURE: NRN
OTTAWA, Feb. 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.
A high resolution airborne magnetic survey is anticipated to commence this week, weather permitting. The survey will be flown at 50 metre spaced lines and cover approximately 50 square kilometres of the Highway Zone. The survey will be completed by Prospectair Geosurveys Inc.
Northern Shield has retained Mr. Simon Griffiths as a technical advisor to Northern Shield regarding gold exploration. Mr. Griffiths is an economic geologist with 28 years of experience in mineral exploration including as Chief Geologist for Barrick Exploration – South America, Chief Geochemist for Barrick Exploration – Global and various positions over 13 years, with Rio Tinto.
Partial and temporary ablation of the snowpack in certain areas of the Property has allowed for further samples to be collected by prospector Mr. Patrick Bellefontaine. Forty-eight rock samples have been sent to the laboratory for analysis. Much of these samples are of colloform banded quartz vein material and breccias and are all consistent with textures from known epithermal gold occurrences. Some exhibit classic "ginguro" bands containing extremely fine-grained sulphides and other metallic minerals. Photos of several of these samples are provided below.
Further detailed analysis of mineralogy, geochemistry and fluid inclusions are also underway on previously collected samples. This work will largely be conducted through Saint Mary's University in Halifax.
"We have always felt it is very important to squeeze as much data and information out of the rocks as one can, especially in early stage stories. This can provide for reducing risk and vector to the main mineralization. This is an approach that we have always used in our Ni-Cu-PGE exploration. As such, we are very much appreciative of the guidance and epithermal gold experience that Mr Griffiths brings as we continue to advance exploration at Shot Rock," explains Northern Shield President and CEO, Ian Bliss. "These 'desktop' studies are backed up by further grab samples recently collected by Mr. Bellefontaine when weather and conditions have allowed. Based on field observations, the textures and mineralogy of many of these samples are very encouraging."
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.