Prospecting identifies two additional areas of gold mineralization
OTTAWA, ON, Nov. 19, 2020 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSX-V: NRN) is pleased to announce that the controlled-source audiomagnetotellurics ("CSAMT") geophysical survey announced on October 28th has been completed at its Shot Rock Gold Project ("Shot Rock") in Nova Scotia. Prospecting has also located two other areas of anomalous gold mineralization within the Property. The Company is exploring the Property for low sulphidation epithermal ("LSE") gold mineralization and currently owns an 80% interest at Shot Rock.
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.
Processing of the geophysical survey data is still in progress but preliminary interpretation of inversions show several high-angle, very resistive and deep-seated structures suggestive of strong silicification and/or quartz veining surrounded by zones of greater conductivity interpreted to be the result of clay alteration (Figure 1). Such features are characteristic of LSE systems. The most prominent resistive structure is located on the periphery of the area tested by drilling to date.
Another smaller but distinctly resistive structure is noted approximately 1.4 kilometer southeast of the main area of interest within the Highway Zone. This target is 50 meters upstream of a train of gold-bearing quartz cobbles (Figure 2) collected along the creek in 2018 and has been immediately followed up on the ground to determine if the source of the anomaly outcrops. Ground truthing of the target area found no exposed outcrop in the vicinity but a large angular quartz vein boulder (inset Photo) exhibiting bladed texture and sulphides was found nearby.
Further updates will be provided on final processing of the CSAMT data, which is expected shortly and on assay results from surface sampling.
Prospecting elsewhere within the Shot Rock Property has located two other areas with anomalous gold (> 0.1 g/t Au) with textures consistent with low sulphidation epithermal gold systems. One is located approximately 1.2 kilometer east-northeast of the Highway Zone and the other is located 6 kilometres east of that zone. Further exploration is being conducted in these areas.
"We are quite happy with the sneak preview of the CSAMT results and look forward to more processing. It certainly looks like it will help pin-point drill targets. This type of geophysical survey has been successfully used for the identification of deep-seated structures associated with high-grade feeder zones in many other LSE systems. We are also very encouraged by on-going sampling at Shot Rock, Root & Cellar and Merasheen, and we look forward to assays from all these projects."
Ian Bliss – President & CEO
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 been reviewed 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 Maritime 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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