Northern Shield Commences Phase 2 Drilling at Shot Rock Gold Property in Nova Scotia
OTTAWA, ON, July 9, 2020 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that crews and a drill rig have been mobilized for the second phase of drilling at the Shot Rock Property ("Shot Rock") in Nova Scotia. Shot Rock is being explored for low sulphidation epithermal (LSE) gold mineralization. Northern Shield can earn up to an 80% interest in Shot Rock.
The phase two diamond drilling program is designed to follow up on the discovery of high-grade gold mineralization intersected during the maiden drilling program on the Highway Zone at Shot Rock (see press release dated April 29, 2020). The maiden drilling program was highlighted by a 2.45 metre intersection of 12.6 g/t Au including a 1.0 metre interval of 17.3 g/t Au and 2.4 g/t Ag over 3.15 metres including 22.1 g/t Au over 0.4 metres.
The phase two program will consist of eight to ten drill-holes totalling 2,500 to 3,000 metres. Drilling will focus on four target components (see maps for locations):
- High-grade intersection from Phase 1 (Figure 1)
Phase two drilling will aim at intersecting the structure that hosts the high-grade mineralization at deeper and shallower levels. - Zone of Reduced Magnetic Signature (Figure 1 & 2)
Alteration associated with the mineralization is now known to degrade the magnetism of the hosts rocks. Several drill holes will test an area of reduced magnetic signature that coincides with structures deemed to be of importance. - Crystal Hill Magnetic Anomaly (Figure 1)
One hole will test a pocket of lower magnetic signature located between the Highway Zone and Crystal Hill. - Southern-most Stockwork Zone (Figure 1)
One drill-hole will test the southern-most mineralized structure in the Highway Zone. Abundant mineralized stockwork veining is exposed on the southeast flank of the hill at the Highway Zone. This zone was targeted in the first phase of drilling but it is now believed that drill-hole undercut this structure.
"We are eager to get back to Shot Rock and follow up on the high-grade intercepts from the first phase of drilling. Hitting those grades in the maiden drill program bodes well for phase 2 and provides confidence that there is a lot more to be found at depth in the Highway and Crystal Hill area."
- Northern Shield President and CEO, Ian Bliss
The drilling program is contracted to Logan Drilling Group based in Stewiacke, Nova Scotia, and will be overseen 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 program for Ni-Cu-PGEs and utilizing expertise and innovation toward working on other deposit types. Seabourne Resources Inc. is a wholly-owned subsidiary of Northern Shield focussing on epithermal gold and related deposits in Atlantic Canada and elsewhere.
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 Nova Scotia 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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