More Visible Gold Found at Northern Shield's Root & Cellar Property, Newfoundland; New Mineralized Structures Identified
More Visible Gold Found at Northern Shield's
Root & Cellar Property, Newfoundland; New
Mineralized Structures Identified
OTTAWA, ON
,
Dec. 13, 2022
/CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the
"Company") (TSXV: NRN) is pleased to announce that more visible gold has been identified at Root
& Cellar ("Root & Cellar" or the "Project") located on the
Burin Peninsula
in southeastern
Newfoundland
. Northern Shield can earn up to a 100% interest in the Project, which is being
explored for epithermal gold-silver and porphyry-copper type mineralization.
Visible Gold from the Conquest Zone. Photo 1a is from a cut surface; Photo 1b and 1c is from a
broken surface. (CNW Group/Northern Shield Resources Inc.)
Visible gold was seen in a large angular boulder weighing approximately 15 kilograms and found 10
metres from another boulder that was recently reported to also contain visible gold and assayed
111.5 g/t Au (see Company news release dated
September 7, 2022
). Gold was noted at seven
spots in the new sample, including three clusters of fine-grained particles of visible gold (see Figures
1a-c). The host to the gold is a strongly silicified mafic volcanic rock with multiple episodes of quartz
veining, brecciation and pyritization.
Prospecting 20 metres from the boulder located a sub-crop consisting of strongly silicified mafic
volcanic rock with moderate amounts of disseminated pyrite. Although the small patch of sub-crop
that was exposed contains less quartz than the visible gold samples, it is clearly the same host rock
and may represent the wall rock to the veins. Importantly, the trend of the structure hosting the
mineralization in the outcrop was noted to be approximately north-south. This trend is consistent with
the reinterpretation of the IP geophysical data made subsequent to the initial drilling program in
2021, which highlighted north-south trending anomalies. Rock grab samples collected from this
location and others have been shipped for analysis.
"We are very excited by the discovery of more visible gold at Root & Cellar and the discovery of
similar looking mineralization in bedrock nearby. The discovery of this and its noted north-south
trend is very important as it substantiates our interpretation that has been developing since the
2021 drilling program, that the main feeders to the gold system trend north-south and not east-west
as previously thought. We are eagerly awaiting trenching permits so we can expose the full width
of the mineralization at this newly found area of sub-crop."
-
Ian Bliss
,
Northern Shield President and CEO
The technical disclosure in this press release was overseen by
Christine Vaillancourt
, P. Geo., the
Company's Chief Geologist and a Qualified Person under National Instrument 43-101.
Clarification regarding Company news release dated
November 29, 2022
.
The number of flow-through units sold should have read 5,010,770 not 5,101,770.
This specific financing has now closed without a second tranche.
Northern Shield will be hosting a Corporate Presentation via Zoom on
December 20th
at
1PM ET
.
Join Zoom Meeting. A link will shortly be posted to the Company's social media.
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.
SOURCE
Northern Shield Resources Inc.
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For further information:
Northern Shield Resources Inc., Ian Bliss, President and CEO, Tel.: (613)
232-0459, Fax: (613) 232-0760, [email protected]
CO: Northern Shield Resources Inc.
CNW 08:00e 13-DEC-22