Northern Shield Update on IP Geophysical Survey at Root & Cellar Au-Ag-Cu Property, Newfoundland
Northern Shield Update on IP Geophysical
Survey at Root & Cellar Au-Ag-Cu Property,
Newfoundland
OTTAWA, ON
,
March 1, 2023
/CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the
"Company") (TSX-V: NRN) is pleased to announce that preliminary results from the surface IP
geophysical survey at its Root & Cellar Gold-Silver-Copper Property (the "Property") are very
encouraging. Northern Shield can earn up to a 100% interest in the Property which is located on the
Burin Peninsula
in southeastern
Newfoundland
and is being explored for epithermal gold-silver and
porphyry-copper mineralization.
Map showing target areas derived from the 2021 IP survey shown in white and the Eastern
Conquest Target (in yellow) that was primarily identified by its distinct magnetic low signature. Red-
shaded areas show approximate locations of IP chargeability anomalies derived from the
interpretation of preliminary pseudo-sections from the current IP survey. Lines 000N and 100N are
being extended eastward (white dashed lines) to better cover the target areas. (CNW
Group/Northern Shield Resources Inc.)
Approximately 75% of the IP survey, as originally planned, has been completed. Preliminary
interpretation of the pseudo-sections has identified two primary areas of significance.
Firstly, multiple IP anomalies of moderately strong chargeability are apparent on the eastern end of
the first four lines surveyed and are the strongest anomalies delineated to date by the current IP
survey. Several of the IP lines are now being extended to get a complete section through these
targets for improved modelling and interpretation. These anomalies appear to correspond to what
was previously designated the "East Conquest Targets" (see Company news release dated
August
16, 2022
). This target area was identified as an area of interest based on its obvious magnetic low
signature and because of a spatially related chargeability anomaly highlighted on the last line of the
IP survey conducted in 2021.
Secondly, preliminary interpretation of the pseudo-sections also confirm the presence of IP
anomalies corresponding to the CZ1 target in the central Conquest Zone and in the continuation of
this structure to the north (CZ2). Only a small portion of this target projects to surface and it
corresponds to the location where much of the high-grade gold has been found to date.
"Although we need to wait for the survey to be completed before the data is fine tuned and
modelled, the preliminary observations of the raw pseudo-sections are very encouraging indeed.
The survey would appear to confirm the existence of a series shallowly buried, north-south
trending structures in the central Conquest Zone, that we believe to be one of the primary conduits
for the gold mineralization. Perhaps more importantly, the survey has identified a series of
relatively strong, north-south trending, IP anomalies in the eastern Conquest Zone."
-
Ian Bliss
,
Northern Shield President and CEO
The 2021 IP survey was run in a north-south direction, perpendicular to the trend of the geological
units. However, since then, field work has identified mineralized structures trending north-south.
Although the modelling of the 2021 survey identified the presence of these structures, the orientation
of the surveyed lines was not optimal. The current IP survey will better define these north-trending
targets.
The IP geophysical survey is being conducted by MES Geophysics of
St. John's, Newfoundland
.
This news release was reviewed by
Christine Vaillancourt
, P. Geo., the Company's Chief Geologist
and a Qualified Person as defined by 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-MAR-23