Northern Shield Earns 100% Interest in Root & Cellar Gold-Silver-Tellurium and Copper Porphyry Project, Newfoundland
Northern Shield Earns 100% Interest in Root &
Cellar Gold-Silver-Tellurium and Copper
Porphyry Project, Newfoundland
OTTAWA, ON
,
July 16, 2024
/CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the
"Company") (TSXV: NRN) is pleased to announce that the Company has earned a 100% interest in
the Root & Cellar property ("Root & Cellar" or the "Project"), located on the
Burin Peninsula
in
southeastern
Newfoundland
. As per the terms of the option agreement signed in
May 2019
,
prospector and original Property owner,
Jeffery Brushett
retains a 2.5% NSR of which 1% can be
bought back by Northern Shield for
$1.5M
. The Property is being explored for epithermal gold
mineralization and associated porphyry copper systems and includes 5 gold zones over a 6-
kilometer strike-length hosted in a collapsed caldera complex. Tellurium, a critical metal, is
associated with four of the showings and also with some of the copper mineralization.
The Conquest Zone, in the centre of the property, covers an area 1800 x
800 m
, remaining open in
all directions, with grades up to 45 g/t Au in bedrock and 111 g/t in float boulders. Drilling in the fall
of 2023, testing a portion of the Zone, intersected epithermal gold mineralization in 7 out of 8 drill-
holes with 3 showing visible gold. Untested, IP anomalies underlie this drilling and are part of an
extensive network of anomalies that link up with some of the other gold showings. Trenching is
underway on the Conquest Zone, focussing on an area near the 111 g/t boulder, and where recently
identified cross-cutting structures are noted, approximately 100 meters to the east of last year's
drilling. Prospecting will also evaluate newly identified intrusive rocks and alteration that based on
field observations, appears to be alteration related to a copper porphyry system.
"We are very happy to have earned a 100% interest in this large and intriguing epithermal gold and
porphyry copper project, that continues to deliver. Along with a greater understanding of the gold
system, we are still finding new mineralisation, rock types and alteration, that keeps increasing the
potential of the property. In particular, the identification of features typically found at the top of an
epithermal vein system and the strong correlation between IP anomalies and magnetic lows that
continue to depth, is testament to the growing excitement and confidence surrounding Root &
Cellar."
-
Ian Bliss
, President and CEO, Northern Shield
This news release was overseen by
Christine Vaillancourt
, P. Geo., the Company's Chief Geologist
and a Qualified Person under National Instrument 43-101.
Northern Shield Resources
Northern Shield Resources Inc. is a Canadian-based company known as a leader in generating high-
quality exploration targets that views greenfield exploration as an opportunity, an opportunity to find
a Tier 1 asset, near surface, and at relatively low cost. We implement a model driven approach in
exploration to reduce any risk associated with early-stage projects for ourselves, our shareholders,
and the environment. This approach is what led us to firstly option the Root & Cellar Property from a
Newfoundland
based prospector, who found and exposed the mineralization, and then its
advancement as a large alkaline-related gold-silver-tellurium and porphyry copper system.
Forward-Looking Statements Advisory
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.
View original content:
http://www.newswire.ca/en/releases/archive/July2024/16/c4422.html
%SEDAR: 00007505E
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 16-JUL-24