- Northern Shield Resources has identified visible gold in three of eight drill holes at its Root and Cellar Property in Newfoundland
- The diamond drilling program at the project has been completed
- Eight drill holes totalling 615 metres were completed with 200 drill core samples taken for analysis
- Northern Shield Resources Inc. last traded at $0.065 per share
Northern Shield Resources (TSXV:NRN) has identified visible gold in three of eight drill holes at its Root and Cellar Property in Newfoundland.
The diamond drilling program at the project has been completed. The company can earn a 100 per cent interest in the project, which is being explored for epithermal gold-silver and porphyry-copper type mineralization, both with associated tellurium.
Eight drill holes totalling 615 metres, were completed with 200 drill core samples taken for analysis. Mineralized zones show multiple phases and styles of brecciation and replacement textures with common, abundant pyrite in silica and locally clay rich matrixes.
“Not only have we intersected multiple intervals of promising looking mineralization and visible gold within 40 metres of surface, we have also gained valuable knowledge of the geology and the likely causes of the geophysical signatures, and a refined understanding of the epithermal system,” Ian Bliss, Northern Shield president and CEO, said in a news release. “The multiple phases of hydrothermal brecciation, of which most, if not all carry pyrite, is a good sign as every progressive hydrothermal event provides the opportunity to increase gold grades and grow the epithermal system. Although we need to wait for assay results, we are very pleased with the results from the completed drilling program, and we are optimistic about future drilling programs targeting the Conquest Zone.”
The team stated that future drilling will test the mineralized intervals laterally, and to depth, along the margin of the geophysical anomalies.
The Root and Cellar Property is on the Burin Peninsula in southeastern Newfoundland.
Northern Shield Resources Inc. is a mineral exploration company engaged in the business of identifying, acquiring, and exploring mineral properties primarily in Eastern Canada.
Northern Shield Resources Inc. last traded at $0.065 per share and its stock is up 55.5 per cent year to date.
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