OTTAWA, May 26, 2015 /CNW/ - Northern Shield Resources Inc. ("Northern Shield") (TSXV: NRN) is pleased to announce it has staked five claim blocks totaling 96 claims in the Labrador Trough that cover 7 lead-zinc Sedimentary-Exhalative (SEDEX) targets.
The target areas were identified from previously completed, government sponsored, lake-bottom sediment surveys. The target areas are clearly defined in both the raw data and after running multivariate regression as being highly anomalous in Pb, Zn as well as many of the Sedex pathfinder elements (Hg, Bi, Sn, Sb). The multivariate anomalies are defined as being in the top 98 percentile of the survey (5,132 samples).
Importantly, the targets are located approximately twenty kilometers directly up-ice from the known occurrence of 42 boulders averaging 9% Zn, 7% Pb and 120 g/t Ag as reported in assessment reports GM 67824 filed in 2011 with SIGEOM (Energie et Ressources Naturelle de Quebec). Note, for clarity, these boulders are not within Northern Shield's claims and the report with the assays may not be compliant with NI 43-101. The source of all these boulders, some of which are over a meter in diameter, has never conclusively been found.
"Although our focus and expertise in the Labrador Trough is for PGEs and Ni-Cu-PGEs, we also keep our eyes open for targets of opportunity such as these," states Northern Shield President and CEO, Ian Bliss. "The lake bottom sediment anomalies are very distinct on their own and when we came across reference to the boulders in filed assessment reports pointing in the direction of the same anomalies, it became too compelling to walk away from."
Northern Shield Resources Inc. is a Canadian-based mineral exploration company built around its platinum group element (PGE) expertise which forms the basis of its exploration in eastern Canada.
Forward-Looking Statements Advisory
This news release contains statements concerning the exploration plans, results and potential Pb-Zn and other mineralization at the Company's Labrador Trough properties, geological, and geometrical analyses of the Labrador Trough properties and comparisons of the properties to other known SEDEX-type deposits, 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.