OTTAWA, May 15, 2013 /CNW/ - Northern Shield Resources Inc. ("Northern Shield") (TSXV: NRN) is pleased to announce the intersection of significant visible gold during the first phase of a 3,000 metre drilling program being carried out this spring at the Wabassi VMS (volcanogenic massive sulphide) project located in northwestern Ontario. The Wabassi project is being explored under a 49/51 JV with Discovery Harbor Resource Corp. [TSXV:DHR].
In the process of drill testing Anomaly "N" (a high priority VTEM conductor defining a massive sulfide target), a quartz-carbonate alteration zone with a veinlet of visible gold was intersected from 98.8 to 98.95 metres in drill-hole 13WA-33. The 0.15 metre sample assayed 2,530 g/t Au (73.8 ounces/ton). A second interval assayed 5.86 g/t Au over 1.1 metre from 100 to 101.1 meters. The auriferous zone appears to be related to an intermediate intrusive dike or sill and occurs at the contact of this intrusive and the altered mafic volcanic rocks. Photos of the core containing the gold veinlet can be seen on Northern Shield's website at www.northern-shield.com.
This intersection of gold is the fourth gold discovery that has been made to date within the Wabassi-Tempest properties and the second to contain visible gold. Globally, gold mineralization is present in a majority of VMS districts.
In total, four drill holes were completed in the first phase of the program, which was aiming at testing three VTEM targets (K, M and N). No other significant mineralization was identified nor was anything intersected to explain the VTEM anomalies.
A down-hole gravity survey (Gravilog) was also recently completed by Abitibi Geophysics at Anomaly E. The results from the survey show dense masses in the subsurface that are coincident with and 'off hole' from drill intercepts where strong zinc-copper-silver mineralization is present. The upcoming drill program will include the testing of these newly defined targets at Anomaly E, including tests to determine whether the modeled shallow mineralization is present as well as the mineralization modeled at depth. Sketches representing 3D models of the gravity survey results are posted on Northern Shield's website.
The second phase of drilling is planned to resume immediately after the spring breakup period, likely at the end of May, 2013. Much of the second phase will be focused on continuing to define the copper-zinc-silver-gold mineralization at "E." This includes several gravity anomalies, which support previous geophysical interpretation that the mineralization extends at depth. Additional drilling will also be planned to test this exciting new gold discovery at "N".
The Wabassi project is being overseen by Christine Vaillancourt, Chief Geologist for Northern Shield and a Qualified Person under National Instrument 43-101. The drilling was conducted by Vital Drilling Ltd. of Sudbury, Ontario. Samples were analyzed by ALS Minerals laboratories in Vancouver, BC for Au by fire assay with ICP-AES finish and base metals by four acid digestion and ICP-AES. Ore grade gold was analyzed with ALS's Au-GRA21 method, a fire assay with gravimetric finish. Down-hole gravity was completed by Abitibi Geophysics Ltd. of Val d'Or, Quebec.
Northern Shield is an innovative, results-driven Canadian company focused on Platinum Group Element (PGE) and nickel-copper-(PGE) exploration in Canada and Greenland and copper-zinc-silver exploration on its Wabassi and Storm properties in northern Ontario. 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 geophysics, drilling and exploration plans, results and potential for Cu-Zn-Ag-Au and other mineralization at the Wabassi property, geological, geophysical and/or geometrical analyses of the Wabassi property 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 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.
For further information:
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
Renmark Financial Communications Inc.
Barry Mire: bmire@renmarkfinancial.com
Nadia Marks:nmarks@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020
www.renmarkfinancial.com
