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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (162123)12/15/2021 11:45:21 AM
From: LoneClone  Read Replies (1) of 166904
 
Northern Shield Finds More High-Grade Gold on Surface at Root & Cellar Gold Project, Newfoundland; Completes Drilling Program

ca.finance.yahoo.com

Wed., December 15, 2021, 5:00 a.m.·5 min read

OTTAWA, ON, Dec. 15, 2021 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to provide an update on exploration at its Root & Cellar Gold-Silver-Copper Project ("Root & Cellar" or the "Project") located on the Burin Peninsula in southeastern Newfoundland. The Company can earn a 100% interest in the Project, which is being explored for epithermal gold-silver mineralization and porphyry copper deposits. The Project covers over 300 square kilometres.



Map showing location of drill-holes completed at Root & Cellar draped of total magnetic intensity and the location of high-grade gold samples reported in this press release. Blue lines represent intervals of hydrothermal breccia intersected in drill-holes and projected to surface. Yellow lines represent intervals of pyritic quartz veins and quartz-sercite-chlorite-pyrite schist intersected in drill-holes and projected to surface. (CNW Group/Northern Shield Resources Inc.)

Fourteen diamond drill holes totalling 2,504 metres have been completed on the Project (Figure 1). Drill holes 21RC-01 to 11 tested various geophysical targets in the expanded Conquest Zone, 21RC-12 targeted a large and complex IP anomaly between Conquest and Windfall and drill holes 21RC-13 and 14 tested the Windfall Zone. Over 400 drill core samples from the drilling program are at the lab with all assays pending.

Three of six rock grab samples collected at surface (Figure 1) early in the program and sent for analysis on an expedited basis, assayed 20.9, 17.9 and 28.8 g/t Au from samples RC21-5009, 5013 and 5014, respectively. The gold is associated with elevated concentrations of Ag, As, Se and Pb. These three grab samples are from large angular boulders exposed during the construction of the drill trail. Sample RC21-5009 (Figure 2a) was collected on gridline 5600E in the vicinity of a near-surface IP anomaly and drill hole 21RC-06. The discovery of this boulder is important as it potentially extends the strike-length of the higher-grade mineralization at Conquest a further 200 metres eastward. Sample RC21-5013 was located along gridline 5400E in the vicinity of drill hole 21RC-02. Similar looking rock was subsequently found in outcrop approximately 10 metres away and also at the drill pad for drill hole 21RC-05 on line 5500E (Figure 2b) for which assays are pending. Interestingly, this exposure exhibits a very sharp upper boundary of mineralized and unmineralized rock (Figure 2c). Over 150 additional surface rock grab samples are at the lab with all assays pending.

Conquest Zone: Drill holes 21RC-02, 03, 05, 06, and 08 to 11 intersected various widths of a hydrothermal breccia (Figure 2d) containing pyrite, black silica, chlorite, illite and variable amounts of free quartz with 21RC-02, 05, 06 and 09 being the most visually impressive. These intersections are generally consistent with samples of mineralized hydrothermal breccia collected at surface including those reported above and those in our press release dated July 27, 2021, though differences are also observed.

Windfall Zone: Both drill holes at Windfall intersected pyrite-bearing quartz-sericite-chlorite schist and brecciated and laminated pyritic quartz veins, again consistent with what has been seen on surface.

Drill holes 21RC- 01, 07 and 12 did not explain the IP anomalies they were targeting and further drilling is warranted in these areas. Drill hole 21RC-04 intersected disseminated pyrite which explained the IP target this hole was testing. The style of mineralization is different than what is seen in the rest of the Conquest Zone and assay results are required for any further conclusion.

"We are very encouraged by the discovery of further gold on surface and by the multiple intersections of what we believe at this time is a mineralized hydrothermal breccia in the Conquest Zone. While we need to wait for assay results, we anticipate, and are planning, a return to drilling at the earliest opportunity."


Ian Bliss – President & CEO

Sample ID

Gold (Au) g/t

Silver (Ag) g/t

21RC-5009A

20.9

4.7

21RC-5010A

0.016

0.6

21RC-5011A

0.169

2.4

21RC-5012A

0.117

5.1

21RC-5013A

17.9

2.2

21RC-5014A

28.8

3.4


The surface sampling and drilling 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, and are being, 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 measured by ALS Global meet their target concentrations as specified by the certified standards.

Northern Shield Resources Inc. is a Canadian-based company with experience in many geological terranes and focused on generating high-quality exploration programs. It is known as a leader in executing grass roots exploration programs using a model driven approach. Seabourne Resources Inc. is a wholly-owned subsidiary of Northern Shield focussing on epithermal gold and related deposits in Atlantic Canada.

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.



Fig 2a) Sample 5009; Fig2b) Outcrop of hydrothermal breccia hosting abundant pyrite exposed at drill pad 21RC-05; Fig 2c) Outcrop of hydrothermal breccia exposed on vertical face at drill pad 21RC-05; Fig 2d) Example of hydrothermal breccia in drill-core from 21RC-05 at a depth of 80.9 meters containing abundant very fine-grained sulphide and coarser pyrite. (CNW Group/Northern Shield Resources Inc.)
SOURCE Northern Shield Resources Inc.


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