Explorer Completes 3,000M Drill Program in Newfoundland
Northern Shield Resources Inc. (NRN:TSX.V) shares the discoveries made via field observation during the campaign. Find out why one analyst believes this company's stock is headed for a breakout.
Northern Shield Resources Inc. (NRN:TSX.V) completed its 15-hole, 3,000-meter (3,000m) diamond drill program targeting the Conquest zone of its Root & Cellar project in southeastern Newfoundland, during which notable geological observations were made, according to a news release.
"We look forward to the assay results and the next exploration phases," President and Chief Executive Officer (CEO) Ian Bliss said in the release.
Conquest is one of five gold mineralized zones over a 6-kilometer (6 km) strike length at Root & Cellar. As such, the company is exploring for epithermal gold mineralization and associated porphyry copper systems. The critical metal tellurium is associated with four of the showings and with the copper mineralization.
The following findings, noted in the release, were observed while the drill program was being carried out:
1) The first ginguro banding was noted at Root & Cellar, via hole DDH 25RC-34, at the end of a 3.3m zone hosting many crustiform-colloform-banded quartz veinlets. Given they occur at about 110m below surface, these veins are the deepest encountered so far.
2) Also in this hole, as well as in hole 25RC-26, visible gold/electrum grains were noted. In 25RC-26, the grains were hosted in a weakly crustiform-colloform-banded, quartz-filled void associated with chalcopyrite, molybdenite, and bornite.
3) Grains of gold tellurides were seen in drill holes 25RC-33 and 25RC-34, and a tabular, striated crystal, thought to be calaverite, was encountered in 25RC-32 at 16.4m. Krennerite was seen, too.
"We are very excited to see the ginguro-banded, crustiform-colloform quartz veins, diagnostic of epithermal gold-silver systems, and where the precious metals are typically found," Bliss said. "The probable gold tellurides are also an important milestone due to their association with large epithermal gold systems."
4) Multiple zones of hydrothermal mineralization from 1-40m wide were intersected, including hydrothermal breccias, quartz veins, and quartz vein breccias.
5) An intense zone of carbonate-chlorite-pyrite alteration, including manganese-carbonate veins and crudely banded silica pockets, was encountered at depth in drill hole 25RC-24. This likely is a propylitic alteration halo, characteristic of epithermal systems. With similar alteration known to be present in the Windfall zone, the potential exists for Conquest and Windfall to be linked at depth, along north-south structures. Further, the carbonate alteration transitions into illite, indicating close proximity to the source structure.
Northern Shield submitted more than 350 samples to ALS Global in Vancouver, British Columbia to be analyzed for gold by fire assay and for multielements by four-acid digestion and ICP-MS (inductively coupled plasma mass spectrometry).
Advancing Exploration in Eastern Canada
Headquartered in Ottawa, Ontario, Northern Shield Resources generates and explores high-quality targets, looking for a tier one asset.
"We believe that with new and unexplored terrain comes the opportunity to still discover world-class deposits, at or near surface, at low cost," the company noted on its Fact Sheet. "Our model-driven approach helps mitigate the risk associated with such early-stage projects."
Of its two projects, the explorer is focused currently on Root & Cellar, its flagship asset, near Marystown and Creston on the Burin Peninsula of Newfoundland, a three-hour drive from its capital city, St. John's. The project sits within the Avalon Terrane, which hosts a growing number of epithermal gold and related copper porphyry occurrences over a 200 km-long belt. It is similar to the well-explored Carolina and Nevada gold-copper belts. The Avalon Terrance, in contrast, is underexplored.
"The geoscience exhibits the hallmarks of being an 'alkaline-related' system, making it both unique in eastern Canada and highly prized," the company's Fact Sheet reads.
*In Root & Cellar's Conquest zone, where drilling was just completed, the gold system "looks like it is BIG, DEEP and RICH," Technical Analyst Clive Maund described in his June 13 report. Modeling shows it could extend to an 800m depth. Grab samples returned high grades, specifically 111 grams per ton (111 g/t) gold, 1,395 g/t silver, 10.5% copper, and 700 parts per million (ppm) tellurium, according to Northern Shield's Corporate Presentation.
About 2 km southwest of Conquest is the large Creston zone, where high-grade copper mineralization was found. It is believed to be part of a big copper porphyry system that also contains significant silver mineralization.
Tellurium in high grades was encountered in the Drop and Creston zones. Moderate grade tellurium was shown on surface samples and in drill core from the Windfall and Conquest zones.
Northern Shield's second exploration asset, Idefix, contains nickel, copper and platinum group elements (PGEs) mineralization, the company's website notes. Consisting of 40 claims over 18 square kilometers, Idefix is in Quebec's Labrador Trough and 75 km northwest of the community of Kuujjuaq, in the Nunavik region.
Between La Colline and the southeast end of the Idefix ridge, there is "a very interesting anomaly" that could underlie a massive sulphide body. Northern Shield hopes to carry out a short drill program at Idefix in the near future to test this conductor.
Now is Good Time to Invest
Gold is in its typical midyear doldrums, "but indicators are pointing toward a new rally relatively soon," purported Brien Lundin in Gold Newsletter on July 17. Because the yellow metal tends to bottom between mid-July and mid-August, now is the time to capitalize on the lull. The spot gold price was US$3,405 per ounce (US$3,405/oz) at the end of trading on July 21.
Looking to the rest of 2025, gold's fundamentals remain strong, reported Stockhead's Josh Chiat on July 18. A bearish gold scenario would follow "some form of risk resolution in terms of geopolitical and trade conflict" but would still have support at US$3,000/oz, according to the World Gold Council (WGC) in its midyear outlook, noted Chiat.
In the bull case, where economic conditions worsen, the gold price could run 10-15% higher in H2/25. This likely would spur a new wave of central bank buying of the metal.
"We believe that gold through its fundamentals remains well positioned to support tactical and strategic investment decisions in the current macro landscape," the WGC noted.
As for the gold price in the near term, HSBC recently raised its 2025 and 2026 predicted averages based on elevated risks and government debt, as reported by Reuters on July 1. The new figures are US$3,215/oz for this year, up from US$3,015, and US$3,125 for next year, up from US$2,915. The bank indicated that even if gold prices pull back, those above US$3,000/oz have reinforced the metal's role as a safe haven and portfolio diversifier.
Similarly, metals analysts are forecasting 15% higher gold prices on average for the rest of 2025, according to a new poll by the London Bullion Market Association, reported Mining.com on July 15. As for how high gold could go, the analysts were divided. The highest price cited was US$4,000, and the lowest was just under US$3,500. However, an appreciable number of analysts indicated they expect the price to pull back toward year-end; five of the 13 analysts cited a December 2025 price of US$3,200/oz or under.
Longforecast's estimates have gold closing this year at US$3,887/oz, rising to finish out 2026 at US$5,172, then moving up a bit more to reach US$5,266/oz by year-end 2027.
As for how to invest in gold at this time, 321gold's Captainewave recommended on July 20: "Go long."
The Catalyst: Drill Results
Near-term catalysts for Northern Shield include results of the completed diamond drill program and additional exploration phases, noted Bliss in the release.
Downhole structural surveys will be done to delineate the orientation of the telluride- and ginguro-bearing quartz veins, for instance, to be drill tested in the near future.
Charts Indicate Run-up Coming
*Northern Shield's charts show several signs that the company's stock may pause to consolidate after the recent big run-up and due to being overbought, but then will start to move up, Technical Analyst Clive Maund wrote.
He explained that on NRN's 30-month chart, the accumulation-distribution is exceptionally strong, indicating an impending advance. The big upside volume and strong accumulation signal that the stock has lots more room to advance. The three-month picture is bullish, showing a volume breakout in May followed by the price lifting in a strong uptrend. This looks as though it will continue, but perhaps it may retreat some first.
"Northern Shield Resources is on the verge of breaking out of a large base pattern that started to form in early to mid-2002," Maund wrote. "Although it may pause for a little while here at resistance before it does so, it is set up to overcome this resistance and then advance swiftly to a first target at the next significant resistance at the CA$0.24-0.28 zone." From where the stock was trading at the market close on July 21, this resistance level represents an uplift of 140-180%.
Streetwise Ownership Overview*
Northern Shield Resources Inc. (NRN:TSX.V)
*Share Structureas of 7/22/2025Source: RefinitivThe subsequent target is resistance in the CA$0.50 zone, added Maund. Once the share price tears through that, it should rise to the CA$0.80-0.90 range. The long-term charts show that the stock could climb to much higher targets.
Ownership and Share Structure
According to Refinitiv, three insiders own 11.85% of Northern Shield. The major shareholder is Chairman Russel Richards with 9.67%. President/CEO and Director Ian Bliss and Director Peter Dimmell each also own an interest.
The rest is in retail. There are no institutional investors at this time.
The company has 112.74 million (112.74M) outstanding shares and 99.37M free float traded shares. Its market cap is CA$9.97 million. Its 52-week range is CA$0.035-0.125 per share.
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Important Disclosures:
As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Northern Shield Resources Inc.Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.For additional disclosures, please click here.
* Disclosure for the quote from the Clive Maund article published on June 13, 2025
For the quoted article (published on June 13, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.Author Certification and Compensation: [Clive Maund of clivemaund.com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts' Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressedClivemaund.com Disclosures
The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.