OTTAWA, ON, March 30, 2021 /CNW/ – Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to provide an update on the Root & Cellar Gold-Silver Property (the "Property") in Newfoundland. The Company can earn a 100% interest in the Property which is being explored for epithermal gold-silver mineralization.
The Company has increased the size of Root & Cellar Gold-Silver Property through staking from 30 square kilometres (when it acquired an option on the Property in 2019) to over 224 square kilometres (Figure 1), spread over three claim blocks. Approximately 50% of the total claims are owned 100% by Northern Shield, the remainder are subject to the Root & Cellar Option Agreement (press release May 19, 2020). In total, the claims cover a 30 kilometre strike-length of a district scale structure that hosts the Drop Zone with up to 45 g/t Au and 1,360 g/t Ag, (see press release May 21, 2019), the recently discovered Windfall Zone with up to 17 g/t Au and 53 g/t Ag, (see press release January 30, 2021) and the Braxton-Bradley Showing with up to 2.3 g/t Au and 137 g/t Ag, 1.9% Zn and 1.7% Cu (see press release May 21, 2019). Two additional parallel structures, totalling a further 25 kilometres, that host gold anomalous till and lake sediment samples previously collected as part of government surveys, were also staked.
"The driving force behind this significant increase in the Property was the continued discovery of high-grade gold and silver within the Property based on last years fieldwork, in particular the discovery at Windfall. The Windfall mineralization is related to an ENE trending fault zone and is exposed over a 200 metre thickness at this point. The Drop Zone and Braxton-Bradley showings are located along the same structure and have similar geochemical signatures. Many of the gold anomalous soil samples collected by Northern Shield last year, also fall along these structures (Figure 2). It is quite clear from our own soil samples and from the prospector's past work following up on regional, government collected till samples, that gold anomalous soil and till samples are generally a reliable indicator of nearby gold in bedrock."
Ian Bliss – President & CEO
Line-cutters will be mobilized next week to the Property to prepare a grid for ground geophysics (Spectral IP/Resistivity) which is anticipated to commence at the end of April. If snow melt allows, prospecting will also commence along the structure within the new claims and to follow up on distinct gold soil anomalies along the structure within the original Property boundary.
The fourth hole is underway at Shot Rock with the program approximately halfway through the planned meterage.
The press release was reviewed 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 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.
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