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Northern Shield Discovers Anomalous Gold in Epithermal Quartz Veins from Shot Rock Gold Project, Nova Scotia

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Northern Shield Discovers Anomalous Gold in Epithermal Quartz Veins from Shot Rock Gold Project, Nova Scotia

Canada NewsWire

OTTAWA, July 24, 2018 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV:NRN) is pleased to announce the results from the first phase of rock sampling at the Shot Rock Property, Nova Scotia (the "Property"). This includes analysis of three float samples of quartz vein material recently found exhibiting classic epithermal textures as disclosed in a Press Release dated June 26, 2018. Shot Rock is being explored through Northern Shields wholly-owned subsidiary, Seabourne Resources Inc, which can earn up to an 80% interest in the property.

Significantly, all of the above noted samples are highly anomalous in gold with assays of 0.29, 0.26 and 0.13g/t Au. Fragments, bands, and infillings of jasper within the banded quartz veins are a common feature. These sample are all from small angular float material collected along a 2 kilometre stretch of river bed. Several more samples have been collected on a recent return visit to the river and approximately fifty further angular to sub-angular pieces of jasper-banded and/or colloform-banded quartz were noted along a short stretch of the river. These samples contain very little sulphides with a maximum of 0.3% sulphides.

The textures and mineralogy of the quartz vein material are all very consistent with epithermal gold systems. Textures include colloform banded quartz (generally chalcedony), bladed carbonate with some samples showing quartz pseudomorphing the carbonate, comb textured quartz with jasper infilling and brecciated colloform chalcedonic quartz with jasper veins. Bladed carbonate textures suggest the vein material originates high up in the epithermal system, likely above the "boiling cap."

Boiling caps form at the level where rising boiling fluids, which carry the gold, interreact with cooler near surface water (water table) with the result that epithermal quartz veins typically show significant and rapid vertical zonation in gold grades from low-grades above the cap to higher grades below.

"In typical epithermal systems, one doesn't see significant gold mineralization above the boiling cap even with the presence of the quartz veins. We believe the erosional level of Shot Rock is at, or above, the boiling cap," explains Northern Shield President and CEO, Ian Bliss. "Hence, the highly anomalous gold values we are seeing bode well for what may be found at deeper levels of the quartz vein below the boiling cap. We believe there is high potential here since this style of mineralization has been historically unrecognized in this area."

The Company has increased the size of the Shot Rock Property by an additional 1,200 hectares, which now totals 19,700 hectares.

Assays are still pending for 197 stream sediment samples and a further batch of rock grab samples (including more collected from the river) have been shipped to the lab for analysis.

Follow-up rock and till/soil sampling is being planned for the area which will commence after interpretation of the pending assays.

The program is being overseen by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101. Samples were analyzed by ALS Global in Sudbury, Ontario and in Vancouver, BC, for Au by Fire Assay with ICP-AES finish and base metals by four acid digestion and ICP-AES. All standards and duplicates by ALS Global meet targeted values.

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.

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 Nova Scotia properties, geological, 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.

View original content: http://www.newswire.ca/en/releases/archive/July2018/24/c2268.html

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