OTTAWA, ON, Oct. 5, 2021 /CNW/ – Northern Shield Resources Inc. (“Northern Shield” or the “Company”) (TSXV: NRN) is pleased to announce that drilling has commenced at its Root & Cellar Gold-Silver-Copper Project (“Root & Cellar” or the “Project”) located on the Burin Peninsula in southeastern Newfoundland. The Company can earn a 100% interest in the Property, which is being explored for epithermal gold-silver mineralization and porphyry copper deposits. The Property now covers over 300 square kilometres.
The program calls for a minimum of 2,000 metres of diamond drilling, which will be distributed over 10-12 drill holes selected for the first phase of drilling at Root & Cellar. Other than three historic drill-holes totalling 100 meters located five kilometres to the northeast, there is no record of previous drilling at Root & Cellar. In total, permits have been received for 50 drill holes to allow for flexibility during the program and further phases of drilling.
The principal focus of the drilling program is the Conquest Zone (“Conquest”), where gold has been discovered in outcrop and sub-crop over an area measuring 500 x 700 metres with grades up to 48 g/t Au (see Company press release May 21, 2019). The main mineralized trend at Conquest correlates with an IP chargeability anomaly that extends over 1,100 metres. The first drill hole will test a broad and moderately strong IP anomaly at the western end of this trend, that correlates with extremely resistive rocks (likely the result of silicification). Drilling will then progress eastward along Conquest before testing targets to the north, including the Windfall Zone where up to 17 g/t Au and 53 g/t Ag have been reported (see Company press release January 13, 2021). Based on geology, alteration, geochemistry and geophysics, Conquest is interpreted to represent the upper levels of a large high sulphidation gold system.
“The very first drilling program on any property or target is always exciting and that’s certainly how we feel about Root & Cellar. The discovery of further gold and copper mineralization during ground-truthing of several of the IP anomalies over the summer further heightens our confidence going into the drilling program.”
Ian Bliss – President & CEO
This drilling program will be overseen by Christine Vaillancourt, P. Geo. and the Company’s Chief Geologist.
Northern Shield Resources Inc. is a Canadian-based company with experience in many geological terranes and focused on generating high-quality exploration programs. 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.