OTTAWA, ON, Dec. 9, 2020 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSX-V: NRN) is pleased to announce that the initial review of the fully processed data from the controlled-source audiomagnetotellurics ("CSAMT") geophysical survey has been completed at its Shot Rock Gold Project ("Shot Rock") in Nova Scotia. The Company is exploring the Property for low sulphidation epithermal ("LSE") gold mineralization and currently owns an 82% interest at Shot Rock.
Further to the press released dated November 19th, 2020, interpretation of the full dataset shows five high angle, deep-seated resistive features that the Company believes could represent quartz veining and/or silicification along fault zones at the core of a large LSE gold system. We believe these features are the main and most important components of the low sulphidation epithermal system we have been vectoring towards since the original discovery of mineralized float at Shot Rock. Importantly, the trend of the features is consistent with that of anomalous gold mineralization and pathfinder elements seen in drill core and of the large gold anomalous quartz veins intersected in drill-holes 20SR-11, 12 and 16. Furthermore the feeder structures are consistent with the property scale dilatant structure identified and announced on April 29, 2020 (Figure 1).
The survey also shows a large resistive body interpreted to represent a silica cap overlying these structures. Beneath the silica cap, portions of the resistive structures are locally seen to have selvages of less resistive material that could indicate clay alteration which is commonly associated with low sulphidation epithermal gold systems (Figure 2). These are the levels that will be targeted in the next phase of drilling. The targets are generally just beyond the depth of all current drilling, which has not gone past the "cap" that is so clearly defined by the CSAMT survey.
The CSAMT survey also supports the previously suggested theory that much of the gold mineralization at surface, or near surface, is the result of ascending fluids exploiting weaknesses along the dyke contacts (which are apparent from the survey) thus allowing some veins and disseminated gold to form high above the primary portions of the epithermal system. While these zones carry some gold grades, they are well above the main "boiling zone" of the system and having infiltrated through the silica cap. However, the gold anomalous quartz veins intersected in drill-holes 20SR-11, 12, 15 and 16 do appear to represent the upper levels of the main veins system originating from the "Feeder 1 Structure."
"We couldn't be happier with the results of the CSAMT survey. We see several large resistive features that are interpreted to be feeder structures of the epithermal gold system found in the Highway Zone at Shot Rock. From the CSAMT survey, we have identified what we believe to be the level of boiling along these structures where higher grades of gold can be expected. Importantly we now understand the lower than expected gold grades from the second phase of drilling. Although drill-holes 11, 12 15 and 16 for instance intersected epithermal quartz veining above Feeder 1, they did so within the cap, not the boiling zone, which explains why only weakly anomalous gold values were intersected.
The high-grade mineralization seen in drill-hole 04 and on surface is the result of gold-bearing fluids having remobilized or escaped from the boiling zone by exploiting weaknesses along dyke contacts.
To add further support, the trend of these structures mimics the larger scale dilatant feature previously identified from surface geochemistry and 3D modelling of the airborne magnetic data".
Ian Bliss – President & CEO
Six lines at 200 meters spacing were completed totalling about 12 line-kilometres of survey. CSAMT measures electrical resistivity of rock and is routinely used in exploration for LSE deposits because data can highlight silicified structural zones prospective for veins as well as detect clay alteration often associated with such deposits.
The survey program at Shot Rock was contracted to Clearview Geophysics of Brampton, Ontario, and was overseen by Joe Mihelcic, P. Geo. and a qualified person under NI 43-101. This press release has also been reviewed by Christine Vaillancourt, P. Geo. and the Company's Chief Geologist.
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 Shot Rock 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.