Northern Shield Provides Exploration and Corporate Update
Northern Shield Provides Exploration and
Corporate Update
OTTAWA, ON
,
June 25, 2024
/CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the
"Company") (TSXV: NRN) is pleased to provide an update on the Root & Cellar Property, ("Root &
Cellar" or the "Property"), located on the
Burin Peninsula
in southeastern
Newfoundland
. The
Property is being explored for epithermal gold mineralization and porphyry copper and includes 5
gold zones over a 6-kilometer strike-length. Tellurium, a critical metal, is associated with four of the
showings and some of the copper mineralization.
A M.Sc. thesis focussing on distinguishing the volcanic and alteration phases and their timing is being
completed by a student from
Memorial University of Newfoundland
. Studies related to the thesis, in
conjunction with Northern Shield's work, are advancing our understanding of the gold and potential
copper porphyry systems. Specifically, drill-hole 23RC-21, completed last fall, appears to have
intersected a sinter mound which would be expected to lie directly above, or within tens of meters,
of the conduit (structure) hosting an epithermal system.
On-going analysis of the geochemistry of drill and surface (grab / channel) samples has shown three
mineralizing events or phases, each distinguishable by a distinct geochemical signature:
1
.
A silver (and tellurium) rich phase, best exemplified at the Drop Zone showing, 2 kilometres
from the Conquest zone, characterized by high silver and tellurium with gold (up to 45.5 g/t Au,
1,365 g/t Ag and 700 ppm Te).
2
.
A gold-silver phase, dominant in the Conquest Zone.
3
.
A gold only phase, again dominant in the Conquest Zone.
Through this new understanding of the three distinguishable events, a "Drop Zone signature"
component has now been identified in the Conquest Zone, particularly in the drill samples from 2023.
Channel sampling and trenching at the Conquest Zone will commence shortly, focusing on stockwork
veins exposed by trenching at several locations, including the main trench, which appear similar to
veins at the top of drill-hole 23RC-21 that carried visible gold,
Northern Shield has been informed by Revenue Quebec that they have completed their audit on the
Company's 2017 and 2018 Quebec Tax Return and Mining Tax Return and the refunds pertaining to
the returns should be received by the Company before August.
"Our new understanding of the 3 mineralized phases and the identification of a Drop Zone
signature in many of the samples from the Conquest Zone could be very significant. It first shows
that the mineralizing system that produced Drop Zone (and Windfall) is much more extensive than
previously known and reaches the Conquest Zone. We would now very much like to find Drop
Zone types of grades underlying the Conquest Zone and even more so, where that system is
intersected and hence potentially upgraded by the two subsequent Conquest gold phases."
-
Ian Bliss
, President and CEO, Northern Shield
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 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 first, the option of the property from an NL based
prospector, who found and exposed the mineralization, and then the discovery, by drilling, of the
alkaline-related gold-silver-tellurium and porphyry copper system at the Root & Cellar Project in
Newfoundland
.
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/June2024/25/c0077.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 08:30e 25-JUN-24