OTTAWA, ON, April 20, 2022 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that field exploration work has resumed at the Root & Cellar Property ("Root & Cellar" or the "Property") located on the Burin Peninsula in southeastern Newfoundland. Northern Shield can earn up to a 100% interest in the Root & Cellar Property which is being explored for epithermal gold and porphyry-copper type mineralization.
The current fieldwork is focussed on prospecting and ground-truthing approximately 30 near-surface IP anomalies identified from the refined IP model (see Company news release dated February 24, 2022). Surface rock sampling over two of these near-surface anomalies in 2021 showed a strong correlation, with grades up to 8.4 g/t Au (see Company news release dated July 27, 2021). If new copper-gold mineralization is identified, the locations will be targeted for follow-up mechanical trenching and channel sampling. These targets include the possible source area for the three high-grade boulders (20.9, 17.9 and 28.8 g/t Au) discovered while constructing the drill roads (see Company news release dated December 15, 2021) and have very diagnostic signatures (high gold to silver ratio) and point back to an area between the Conquest and Windfall zones that has seen very limited fieldwork.
"We are glad to be back at work on Root & Cellar and I am optimistic that systematic sampling of these IP targets will provide proof of concept for the existence of a near surface copper-gold resource at Root & Cellar as prospecting of two of the prominent near surface IP anomalies last summer proved very successful."
- Ian Bliss, Northern Shield President and CEO
This press release was reviewed by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101.
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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