OTTAWA, ON, April 23, 2021 /CNW/ – Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to provide an update on exploration at the Company's epithermal gold-silver projects in Atlantic Canada.
On the Shot Rock Gold-Silver ("Shot Rock") Property in Nova Scotia, eight drill-holes have been completed in the current phase of drilling with the size of the program expanded from the planned 2,700 metres to just over 3,400 metres. All but one drill hole intersected quartz veining and sulphide mineralization consistent with epithermal gold-silver systems and with the previously reported high gold and silver assay results from drill hole 20SR-04 (see Company Press Release April 29, 2020). Assays are pending for over 1,200 core samples that have been sent for analysis. The drill holes are currently being surveyed for structural information and the drill-rig remains on site. A drill hole plan map (Figure 1) accompanying this release shows the collar locations and drill hole traces for holes completed for this phase. Northern Shield has now increased its interest in Shot Rock to approximately 86%. Shot Rock is being explored for low sulphidation epithermal gold-silver mineralization.
Line-cutting has commenced at the Root & Cellar Property ("Root & Cellar") in Newfoundland in preparation for ground geophysical surveying (Spectral IP/Resistivity) which is anticipated to start in May. Prospecting and further rock grab sampling is also underway at Root & Cellar including work on the claims that were recently acquired (see Company Press Release March 29, 2021). The Company can earn a 100% interest in the Root & Cellar Property, which is also being explored for epithermal gold-silver mineralization (intermediate to high sulphidation) and for porphyry copper.
"We are very pleased with the visual observations to date from the drilling program at Shot Rock and are looking forward to assay results, which we expect to start receiving in about 4-8 weeks."
– Northern Shield President and CEO, Ian Bliss
The drilling program was contracted to Logan Drilling Group based in Stewiacke, Nova Scotia, and was overseen by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101 who reviewed and approved the technical information contained in this press release.
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 Atlantic Canada properties, geological, 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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