Update On Root & Cellar Epithermal Au-Ag Property, Newfoundland Airborne Magnetic Survey also Identifies Copper Porphyry Targets
Update On Root & Cellar Epithermal Au-Ag
Property, Newfoundland
Airborne Magnetic Survey also Identifies Copper Porphyry Targets
OTTAWA
,
April 9, 2020
/CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the
"Company") (TSX-V: NRN) is pleased to provide an update on the Root & Cellar Property ("Root &
Cellar", the "Project" or the "Property") in
Newfoundland
which is being explored for low sulphidation
epithermal gold-silver and copper porphyry mineralization. Northern Shield has an option to earn up
to a 100% interest in Root & Cellar (
see
press release dated
May 21, 2019
).
Figure 1. Lo action of the principal showings at Root & Cellar draped over the residual total magnetic
intensity. Green squares and yellow dots represent copper and gold anomalous rock samples
respectively. (CNW Group/Northern Shield Resources Inc.)
The first phase of processing of data from a high resolution airborne magnetic survey conducted
earlier this year has been completed. As a result, repetitive linear magnetic features are apparent
and spatially associated with the gold mineralization, particularly at the Conquest Zone. There is
also evidence that supports the potential for the existence of copper porphyry targets at Root &
Cellar. Prospecting of the more prominent features and faults identified from the airborne magnetic
survey, along with an extensive soil sampling program, will commence as soon a ground conditions
and travel of personnel allow.
"The airborne magnetic survey at Root & Cellar has resulted in us elevating the emphasis on the
potential for other models of mineralization at the Project. The historic presence of copper on the
Property also fits with this line of thinking. We look forward to resuming regional work on the
Property as soon as circumstances allow. The goal is to do the necessary field work and prepare
the Project for the next phase of work, including drilling."
Ian Bliss
, President & CEO
As illustrated in Figure 1, high-grade gold and gold silver mineralisation found at the Conquest and
Drop zones are coincident with the edges of linear magnetic features surrounded by strong lows
which are interpreted to be areas of magnetic destruction. Magnetic destruction, in which magnetite
is converted to hematite, is the result of silicification and clay alteration commonly associated with
porphyry deposit types. It is particularly apparent in the Drop Zone where much of the previously
reported silver and tellurium anomalous soil samples correlate with patchy magnetic lows.
Although the primary focus of exploration at Root & Cellar has been for epithermal gold, the
Property hosts significant copper mineralization that does not appear to be directly related to the
gold. Seventy samples previously collected by the prospector (prior to Northern Shield entering into
the Option Agreement*) assayed greater than 0.1% Cu with nine greater than 1% Cu and three
greater than 5% Cu. Mineralization in the samples displays similar characteristics to a copper
porphyry system. The airborne magnetic survey shows a cluster of some of the better copper
anomalies to be located at the edge of a circular magnetic high; a significant feature as copper
porphyry systems often have magnetic cores.
Shot Rock Gold Project Update
Assay results from the Shot Rock drilling program are still pending as in the current COVID-19
pandemic environment many laboratory facilities are closed or operating at reduced capacity. We
are thankful that ALS is sill operating some of its laboratories. We look forward to reporting assay
results from Shot Rock as soon as they become available.
The program was overseen by
Christine Vaillancourt
, P. Geo., the Company's Chief Geologist and a
Qualified Person under National Instrument 43-101.
Northern Shield Resources Inc. is a Canadian-based company focused on generating high-quality
exploration programs with experience in many geological terranes. It is known as a leader in
executing grass roots exploration program for Ni-Cu-PGEs and utilizing expertise and innovation
toward working on other deposit types. Seabourne Resources Inc. is a wholly-owned subsidiary of
Northern Shield focussing on epithermal gold and related deposits in
Atlantic Canada
and elsewhere.
*
Assays reported were not collected or assayed by Northern Shield and hence have not been
independently verified by Northern Shield. However, copper mineralization including chalcopyrite
and bornite has been visually identified in the field.
Forward-Looking Statements Advisory
This news release contains statements concerning the exploration plans, results and potential for
epithermal gold and copper porphyry deposits , and other mineralization at the Company's
Newfoundland
property, geological, and geometrical analyses of the properties and comparisons of
the properties to known epithermal gold and copper porphyry 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:
Ian Bliss, President and CEO, Tel.: (613) 232-0459, Fax: (613) 232-0760,
CO: Northern Shield Resources Inc.
CNW 08:30e 09-APR-20