OTTAWA, June 6, 2011 /CNW/ - Northern Shield Resources Inc. ("Northern Shield") (TSX-V: NRN) and its partner Discovery Harbour Resources Corp. pleased to provide an update on exploration activities on the Wabassi Property, south of the Ring of Fire in northwestern Ontario.
The outstanding assay results from the spring drill program on Anomaly E are nearly complete. Drill-hole 11WA-20 deflected off course but still intersected the very edge of the conductor on line 200S at Anomaly E, including 6.4% zinc over 3.4 meters and 0.5% copper and 37.7 g/t silver over 4 meters. Drill-hole 11WA-19 appears to have undercut and drilled parallel the conductor. The first two drill-holes completed on Anomaly E by Northern Shield (see press release April 14th 2011) intersected 1.1% Cu, 2.3% Zn, 54 g/t Ag and 0.14 g/t Au over 20.05 meters in drill-hole 11WA-16 and 1.4% Cu, 2.1% Zn, 34 g/t Ag and 0.1 g/t Au over 30.24 meters in drill-hole11WA-17, which included a higher grade section of 2.7% Cu, 4.9% Zn, 68 g/t Ag and 0.2 g/t Au over 12.7 meters. Grades of up to 9.1% copper, 25.5% zinc and 217 g/t silver were also intersected in this drill-hole. Modeling of the ground EM survey completed earlier this year shows Anomaly E to have a strike length of 600 meters and to plunge to depths of over 800 meters. Considerably more drilling is planned for Anomaly E.
Based on this discovery of a second significant VMS occurrence at Wabassi, Northern Shield has staked approximately 180 additional claims. Over half of these claims fall under the Discovery Harbour option agreement and cover a 40-kilometre stretch of volcanic rocks that host the new copper-zinc-silver-gold VMS district at Wabassi. The remainder of the claims are held 100% by Northern Shield. Northern Shield now maintains an interest in over 650 square kilometres of claims in the Wabassi area.
A 7,700 line-kilometre airborne VTEM survey will commence within two weeks to cover the newly acquired claims. The airborne survey will be followed by ground geophysical surveys over targets identified from the airborne survey. Down-hole geophysics will also be conducted on the holes completed during last month's drill program. On completion of the geophysical surveys at Wabassi, one drill will be used to continue drilling targets A1, A2 and E while the second drill (after its delivery from Highbank) will be used to test targets identified from the VTEM survey.
"We are very optimistic about the mineral potential of the Wabassi area greenstone belts and the developing VMS camp in particular, as evidence by our two discoveries at Wabassi. Like the Ring of Fire several years ago, the Wabassi area is virtually unexplored with much of it never having been flown by airborne EM surveys," says Northern Shield, President and CEO, Ian Bliss. "Our intention is to rapidly and aggressively define a copper-zinc-silver resource at Wabassi as we continue to explore for PGEs and base-metals on our other properties."
The drill program was overseen by Christine Vaillancourt, Chief Geologist for Northern Shield and a Qualified Person under National Instrument 43-101.Samples are being analyzed by ALS Chemex laboratories in Vancouver, B.C. for Au, Pt, and Pd by Fire Assay with ICP-AES finish and base metals by four acid digestion and ICP-AES.
Discovery Harbour is currently earning a 51% interest in the Wabassi project and property. This earn-in will be completed later this month, at which time a joint venture will be formed between Northern Shield and Discovery Harbour. Each will then contribute funding to the project on a pro-rata basis. Northern Shield will continue to operate the project for the partnership.
Northern Shield is an innovative, results-driven Canadian company focused on Platinum Group Element (PGE) exploration in Ontario and Quebec and copper-zinc mineralization at Wabassi. 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. For further information on Northern Shield and its properties, please visit our website at www.northern-shield.com or contact:
Forward-Looking Statements Advisory
This news release contains statements concerning the drilling and exploration plans and potential for Cu-Zn-Ag-Au 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.
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.
