Northern Shield Expands Surface Mineralization, Provides Exploration Update, Root & Cellar Gold Project, Newfoundland
Northern Shield Expands Surface
Mineralization, Provides Exploration Update,
Root & Cellar Gold Project, Newfoundland
OTTAWA, ON
,
June 1, 2022
/CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the
"Company") (TSXV: NRN) is pleased to provide an update on the Root & Cellar Gold Project ("Root
& Cellar" or the "Project") located on the
Burin Peninsula
in southeastern
Newfoundland
. Northern
Shield can earn up to a 100% interest in the Root & Cellar Project, which is being explored for
epithermal gold and porphyry-copper type mineralization.
Surface sampling shows a very strong correlation between gold mineralization and the Conquest IP
target. On-going sampling and ground truthing of the near-surface IP anomalies continues to locate
new mineralized outcrops (yellow stars) and boulders/sub-crop (red stars) that overlie the IP target.
(CNW Group/Northern Shield Resources Inc.)
As announced in the Company news release dated
April 20, 2022
, exploration at Root & Cellar was
focussing on the prospecting and ground-truthing of near-surface IP geophysical anomalies identified
from the refined IP model at the Conquest Zone (
see
Company news release dated
February 24,
2022
). Exploration at the Conquest Zone to date has successfully identified:
four mineralized outcrops overlying or adjacent to near-surface IP anomalies;
an area of presumed sub-crop consisting of approximately two dozen angular, mineralized
boulders weighing up to an estimated 500 kg that overlie a strong near-surface IP anomaly;
two additional clusters of angular mineralized boulders, coinciding with strong near-surface IP
anomalies; and
a cluster of four angular mineralized boulders in between the Windfall and Conquest zones that
are
not
associated with an IP anomaly but based on their composition and the ice-direction,
likely originate from the Conquest Zone.
Mineralization generally consists of disseminated pyrite hosted in variably silica-sericite altered
rhyolite flows, porphyries and vent breccias. The strongest sulphide mineralization is associated with
chalcedonic veins. Some mineralization is hosted in basalt where it overlies or is adjacent to
mineralized rhyolite or structures. Three of the new outcrops were discovered in the immediate
vicinity of where mineralized boulders were found in fall 2021.
Over 40 samples are pending assays on an expedited basis and additional samples will be shipped
shortly
"We are following through with our planned systematic exploration programs based on new
interpretation gained from the drilling program and the IP survey and we are very happy to see
results supporting our interpretations.
The winter and spring rains have washed off the boulders and outcrop freshly exposed during the
construction of the drill roads last fall, which is providing a wealth of new geological information
and revealing more mineralization. As our understanding of the controls on mineralization increase
exponentially, so do our discoveries of surface mineralization. Even as we speak, field crews are
making additional discoveries. Channel sampling will commence shortly on some of these
exposures and application for a trenching permit is underway."
-
Ian Bliss
,
Northern Shield President and CEO
Fieldwork is also leading to a better understanding of the controls on the gold mineralization and
supports the interpretation that the large IP anomaly identified from the re-processed IP survey is
the principal target and likely the feeder to the gold mineralization being found at surface in the
Conquest Zone. The surface expression of this target correlates with some of the strongest potassic
alteration seen on the property to date and elevated gold values. Drill-hole 21RC-03 also intersected
100 metres of strong epidote and potassium altered vent breccia at the periphery of the IP target.
This supports the interpretation that this IP target could be the main feeder to the gold mineralization
at Conquest. Although the core of this IP target trends north-south and is at depth, gold-bearing
fluids are believed to have migrated to surface along conduits into several east-west trending
structural traps. The Conquest Zone hosts gold in outcrop up to 45 g/t Au from channel sampling.
This press release was reviewed by
Christine Vaillancourt
, P. Geo., the Company's Chief Geologist
and a Qualified Person under National Instrument 43-101.
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 01-JUN-22