Northern Shield Discovers More Gold Mineralization at Root & Cellar Project, Newfoundland
OTTAWA, ON, Jan. 13, 2021 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to provide an update on the Root & Cellar Property in Newfoundland, which is being explored for epithermal gold mineralization and porphyry copper. The Company can earn a 100% interest in the Root & Cellar Property.
Windfall Zone - New Gold Occurrence. Prospecting in the vicinity of strong gold in soil anomalies (see Press Release dated October 8,2020) resulted in the discovery of numerous large angular gold-silver anomalous quartz boulders containing appreciable sulphides (Figure 1 and 3). Although capacity issues at the analytical laboratories have created lengthy backlog for results, assays have been received from forty-two samples collected from the vicinity of this new occurrence named Windfall. Twenty-five of these samples assayed between 0.1 and 17 g/t Au and up to 24.4 g/t Ag. The gold-bearing quartz boulders were found almost continuously over a traverse of a 200 m wide deformation zone that marks the contact between a volcanic sequence that dominates the Root & Cellar Property and underlying metasedimentary rocks. The showing is at the western end of a 1,500 m long gold-in-soil anomaly that coincides with the deformation zone.
* Sample with -E were analysed at Eastern Analytical, all others at ALS
Conquest Zone – Gold. The Conquest Zone represents the principal gold target at Root & Cellar. Soil sampling has outlined a distinct zone 1,500 m x 600 m anomalous in gold (Figure 1) and associated with other pathfinder elements. Within this zone, past surface sampling by Northern Shield and the prospector has located gold mineralization (0.1 to 45.5 g/t Au) over an area measuring approximately 630 m x 400 m. Although epithermal in nature, the mineralization appears more akin to the high sulphidation variety, though colloform-crustiform banded veins, more typical of low sulphidation, have also been discovered recently at Conquest.
Conquest Zone – Copper.New copper mineralization in outcrop has also been discovered within the Conquest area. A quartz vein containing chalcocite (Figure 4) and hosted in altered rhyolite assayed 4% Cu. Although copper mineralization has been previously found in the western portion of the property, this is the first time such grades have been seen in the central part and this finding supports the possibility of a copper porphyry system underlying Root & Cellar (Figure 2).
"Our field crews continue to discover and outline more gold mineralization at Root & Cellar and the footprint is becoming quite impressive. The combination of the geology, the alteration and the mineralization are beginning to be suggestive of representing the upper portion of a high-sulphidation epithermal system whereby we see a blanket of lower grade mineralization with higher grade being found along structural zones that may be preferentially exploited by the underline feeders."
Ian Bliss – President & CEO
The program and press release were overseen by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101. Samples from the program were analyzed Samples from the program were analyzed by ALS Global in Sudbury, Ontario and in Vancouver, BC, for Au by Fire Assay with ICP-AES finish and base metals by four acid digestion and ICP-AES and by Eastern Analytical Ltd of Springdale Newfoundland for Au by Fire Assay with ICP-AES finish. All standards, blanks and duplicates meet targeted values.
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.