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OTTAWA, May 2, 2012 /CNW/ – Northern Shield Resources Inc. (“Northern Shield”) (TSXV: NRN) is pleased to announce results from the five hole drill program completed to date at Northern Shield’s 100% owned Tempest property, in northern Ontario, which include two gold mineralized zones intersected in drill-hole TP12-07. Highlights include: 9 meters of 19 g/t Ag and 1 meter of 12.4 g/t Au from drill-hole 12TP-07 and 16.74 meters of 29.6 g/t Ag and 1 meter of 3% Zn in the extension of drill-hole 11TP-01.
Drill-holes 11TP-01 extension, 12TP-04 and 07 were completed on the Tempest 1A anomaly; 12-TP-08 was completed on the 1B anomaly immediately adjacent to 1A and 12TP-05 and 06 tested two other VTEM anomalies within the property.
Drill-hole 12TP-07 intersected a first zone of 4.4 g/t Au and 36.2 g/t Ag between 127.1 and 131.1 meters including 12.4 g/t Au and 69.4 g/t Ag over one meter, and a second zone of 3.8 g/t Au over 1.6 meters between 143.25 and 144.83 meters. The gold mineralization is hosted in a silicified zone with minor quartz veining and associated with trace (less than 0.5%) sulphides. Such small amounts of sulphides not only make the mineralized zone very subtle but suggest the gold and silver may be in native form. Sampling will be undertaken on similar intervals from other holes at Tempest that may have been overlooked due to their inconspicuous nature. Drill results from last year suggest that gold is higher in the zone of supergene enrichment that caps the Tempest 1 target compared to the same rocks below it. Future drilling will test this new gold zone where it projects into the supergene cap.
Drill-hole 11TP-01 was extended a further 120 meters in the drill program to test a down-hole geophysical target that was identified beyond the end of hole as completed last year. The drill-hole intersected 1 meter of 3% Zn and 16.7 meters of 29.6 g/t Ag including 66.5 g/t Ag over 5.74 meters and 157 g/t Ag over 2 meters. This intersection is located approximately 260 meters down-dip from where 11TP-02 intersected 104 meters of 19 g/t Ag last year and the continuity of this zone will be further tested in future drilling
Drill-hole 12TP-08 intersected short intervals of significant silver mineralization and contained elevated zinc hosted in a thick sequence of rhyolite. The geology, geochemistry and alteration are indicative of close proximity to VMS-type mineralization. Down-hole geophysics will be conducted on this hole when exploration continues after break-up to vector in on the target during follow-up drilling.
While no significant assays are reported for drill-holes 12TP-05 and 06, both holes intersected sulphides. Drill-hole 12TP-06 intersected sulphides, alteration and rock-types typical of gold and VMS bearing greenstone regions. Drill-hole 12TP-05 intersected several sequences of mafic-ultramafic intrusive rocks very similar to those that compose the Wabassi Intrusion. Samples are now being taken of these intervals and will be sent for PGE analysis. Down-hole geophysics shows an off-hole conductor at the same level of the intrusive rocks. Future drilling will target this zone for Ni-Cu-PGE mineralization.
Significant Assays Include:
“Although we have still not identified the heart of this VMS occurrence, we are very encouraged by the persistence of the high silver values and now the discovery of gold mineralization,” says Northern Shield’s President and CEO, Ian Bliss. “We believe this is the first gold mineralization reported from this portion of the greenstone belt. The silver is important, not only for its own economic value, but in such a setting often forms a halo around VMS deposits.”
The drill program was overseen by Christine Vaillancourt, Chief Geologist for Northern Shield and a Qualified Person under National Instrument 43-101. The drilling is being conducted by Vital Drilling of North Bay, Ontario. The ground and down-hole geophysics were completed by Crone Geophysics and samples are being analyzed by ALS Chemex laboratories in Vancouver, B.C. for Au by Fire Assay with ICP-AES finish and base metals by four acid digestion and ICP-AES.
Exploration crews will return to Tempest and Wabassi after ice break-up in mid to late May. A short geophysics survey will precede the planned 10,000 meter drill program at Wabassi and continued drilling at Tempest.
Northern Shield is an innovative, results-driven Canadian company focused on Platinum Group Element (PGE) exploration in Ontario and Quebec and copper-zinc-silver at Wabassi and Tempest. Its mission is to create a successful mineral exploration company through technical excellence and efficient management, where success is measured by the identification and development of high-quality mineral exploration projects, which may ultimately be optioned, sold or developed for maximum return on investment.
Forward-Looking Statements Advisory
This news release contains statements concerning the exploration plans, results and potential for Cu-Zn-Ag-Au mineralization at the Tempest and Wabassi properties, geological, geophysical and/or geometrical analyses of the Tempest and Wabassi properties and the assay results described above, and other expectations, plans, goals, objectives, assumptions, information or statements about future events, 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.
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
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
For further information:
on Northern Shield and its properties, please visit our website at www.northern-shield.com or contact:
Northern Shield Resources Inc.
Ian Bliss
President and CEO
Tel.: (613) 232-0459
Fax: (613) 232-0760
info@northern-shield.com
