Northern Shield Identifies Visible Gold in Outcrop at Root & Cellar Project, Newfoundland
Northern Shield Identifies Visible Gold in
Outcrop at Root & Cellar Project,
Newfoundland
OTTAWA, ON
,
Aug. 22, 2023
/CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the
"Company") (TSXV: NRN) is pleased to provide an update on exploration at the Root & Cellar Gold-
Tellurium-Silver-Copper Project ("Root & Cellar" or the "Project") located near
Marystown
on the
Burin Peninsula
, in southeastern
Newfoundland
. The Company can earn a 100% interest in the
Project, which is being explored for epithermal gold-tellurium-silver and porphyry copper
mineralization.
Figure 1. Location of visible gold in boulders and outcrop draped over IP Chargeability from -80m
depth slice. (CNW Group/Northern Shield Resources Inc.)
Visible gold has been identified in at least eight grab samples from a trenching program in the
Conquest Zone (Figure 1), with up to 20 flecks of gold noted under the microscope from a single
sample. Visible gold is largely hosted in quartz-adularia veins in newly exposed parts of the outcrop
in the southern Conquest Zone. Northerly trending fractures crosscut the outcrop that lies within an
east-trending structural zone. Both structural orientations are associated with pyrite mineralization
and quartz veining. This trenched outcrop overlies a near surface, easterly trending, IP anomaly and
the southern tip of a prominent northerly trending IP anomaly modelled at approximately 50 metres
depth.
Intense silicification, and multiple phases of brecciation, pyritization and quartz veins are common
characteristics with some veins with classic colloform-crustiform banding indicative of low
sulphidation epithermal systems (Figure 2 and 3).
Based on the ice direction and significant differences in textures and vein compositions, the trenched
Conquest outcrop is not the source of three large boulders with visible gold previously found
approximately 350 meters to the east of the trenched location (see Company news releases dated
September 7, 2022
,
December 15, 2022
, and
February 21, 2023
). The source for those previously
discovered boulders has yet to be found and will be targeted by further trenching and the up-coming
drilling program.
"We are happy with results from last week's field program: firstly, the discovery of visible gold in
bedrock from multiple samples with some associated with quartz-adularia veinlets; secondly, the
identification of some quite striking crustiform-colloform banded quartz veins; and thirdly, the
confirmation of structural trends believed to control mineralization and their spatial correlation with
a deeper, north trending, IP anomaly, interpreted to be the feeder for the mineralization. In
addition, the source of visible gold bearing boulders, found to the east, remains to be found."
Ian Bliss
– President & CEO
The contents of this press release have been reviewed and approved by
Christine Vaillancourt
, P.
Geo., and the Company's Chief Geologist, who is a "qualified person" as defined under National
Instrument 43-101 –
Standards of Disclosure for Mineral Projects
.
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 to discover a
near surface, tier one asset, at relatively low cost. We implement a model driven approach in
exploration to reduce risks associated with early-stage projects for ourselves, our shareholders, and
the environment. This approach is what led to the discovery of an alkaline-related gold-silver-
tellurium and porphyry copper system at the Root & Cellar Project in
Newfoundland
.
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.
Figure 2. Cut sample from outcrop in Conquest Zone showing a distinct crustiform-colloform banded
quartz vein cross cutting another phase of quartz-(adularia) vein. Both are hosted within an intensely
silicified, brecciated and pyritic rock of assumed basaltic origin. (CNW Group/Northern Shield
Resources Inc.)
Figure 3 Selection of samples containing fine visible gold. 3a: Sample 5056A showing quartz-adularia
brecciated vein with bladed marcasite(?) and pyrite in wall rock. 3b: Sample 5059F showing vuggy
quartz vein and bladed marcasite(?). 3c: Sample 5056A showing intense silicification, brecciation
and pyritization. 3d; Sample 5059A showing vuggy quartz veining and bladed marcasite(?). 3e;
Sample 5059F showing strongly silicified host rock with banded quartz-adularia vein.
3F: visible gold
(CNW Group/Northern Shield Resources Inc.)
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 22-AUG-23