OTTAWA, ON, Sept. 5, 2024 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce results from the recently completed trenching / prospecting program at the Conquest Zone, Root & Cellar Property ("Root & Cellar" or the "Property"), on the Burin Peninsula in southeastern Newfoundland. The Property is being explored for epithermal gold mineralization and associated porphyry copper systems and includes 5 gold zones over a 6-kilometre strike-length. Tellurium (Te), a critical metal, is associated with 4 of the showings and also with some of the copper mineralization.
The visible gold (VG) bearing grab sample, exposed in outcrop by trenching in the Discovery Trench area of the Conquest Zone, returned 78.5 g/t Au. The sample contained 4 patches of fine-grained visible gold hosted in quartz-hematite veins associated with intense chlorite alteration, coarse pyrite and fine marcasite (see Company news release August 13, 2024). Three other grab samples, from a strongly silicified and brecciated unit adjacent to the quartz hematite vein, returned 5.0, 4.9 and 2.5 g/t Au with 14 of 23 additional samples from throughout the Property, returning 0.13 to 1.3 g/t Au. Grab samples by their nature are single selected samples and may not be representative of all mineralization expected to be found on the Property.
A high-resolution drone magnetic and LiDAR survey was also completed by RPM Aerial Services of Holyrood, Newfoundland and the data is currently being processed. The survey results will be used to fine-tune the positioning of drill holes planned for this fall.
Early results of the innovative application of geochemistry by an M.Sc. thesis student from Memorial University of Newfoundland, have strongly reinforced the interpretation of the Discovery Trench area as marking an up-flow zone within an epithermal system. Potassium / Aluminum (K/Al) ratios were used as a proxy for alteration minerals with higher K/Al ratios indicating the hottest portion of the hydrothermal alteration as would be expected near the main epithermal veins. The spatial distribution of high K/Al samples also suggests that the Conquest vein system continues 750 m westward from the Discovery Trench area. Case studies utilizing K/Al ratios at the Waihi epithermal gold deposit in New Zealand have highlighted the up-flow zones and the proximity to gold-bearing veins (Barker et al; New Zealand Journal of Geology and Geophysics, 2019)
"We are very happy with the way everything is coming together. We have been very diligent over the summer at squeezing all the information we can out of the rocks, the geophysical data and the geochemistry, and the M.Sc. research being conducted by Mr Kaine Johnson has now added to that body of evidence. The integration of those datasets all pointing in the same direction gives us great confidence heading into drilling. We look forward to the processed magnetic data to fine-tune the drill targets."
- Ian Bliss, President and CEO, Northern Shield
Samples were analyzed by ALS Global in Vancouver, BC, for Au by Fire Assay and multi-elements by four acid digestion and ICP-AES. All standards and duplicates by ALS Global meet targeted values. Technical information in this news release was reviewed and approved by Christine Vaillancourt, P.Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101.
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 find a Tier 1 asset, near surface, and at relatively low cost. We implement a model driven exploration approach to reduce the risk associated with early-stage projects for ourselves, our shareholders, and the environment. This approach led us to option the Root & Cellar Property from a Newfoundland prospector, who discovered the mineralization, and then its advancement to a large gold-silver-tellurium system.
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.
