Northern Shield Resources: Second Epithermal System Discovered at Shot Rock Property, Nova Scotia
TSX VENTURE: NRN
OTTAWA, April 16, 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.
Prospecting has resulted in the discovery of a second epithermal system within the Highway Zone at Shot Rock. Grab samples from boulders, sub-crop and outcrop have identified textures and mineralogy consistent with low sulphidation epithermal gold systems including colloform/crustiform banding, jasperoid and chalcedonic veins, bands and fragments, some of which contain abundant extremely fine-grained pyrite. The new discovery was made approximately 2.5 kilometres west from the initial discovery made late last season but within the same structural corridor. Both systems coincide with N-S trending magnetic features. Cross-cutting WNW trending structures also appear to play an important role. At several other locations within the Shot Rock property, these structures host gold anomalous stream sediment samples and will be investigated further.
Prospecting on a variety of targets is on-going where snow and road conditions allow. More systematic mapping and sampling of the Highway Zone is anticipated to commence in May.
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.