Northern Shield acquires Newfoundland project
Published by Jane Bentham,
Editorial Assistant
Global Mining Review,
Northern Shield Resources Inc. has announced that the Company has earned a 100% interest in the Root & Cellar property, located on the Burin Peninsula in south-eastern Newfoundland, Canada.
As per the terms of the option agreement signed in May 2019, prospector and original Property owner, Jeffery Brushett retains a 2.5% NSR of which 1% can be bought back by Northern Shield for US$1.5 million.
The Property is being explored for epithermal gold mineralisation and associated porphyry copper systems and includes 5 gold zones over a 6 km strike-length hosted in a collapsed caldera complex. Tellurium, a critical metal, is associated with four of the showings and also with some of the copper mineralisation.
The Conquest Zone, in the centre of the property, covers an area of 1800 x 800 m, remaining open in all directions, with grades up to 45 g/t Au in bedrock and 111 g/t in float boulders. Drilling in the fall of 2023, testing a portion of the Zone, intersected epithermal gold mineralisation in 7 out of 8 drill-holes with 3 showing visible gold. Untested, IP anomalies underlie this drilling and are part of an extensive network of anomalies that link up with some of the other gold showings. Trenching is underway on the Conquest Zone, focussing on an area near the 111 g/t boulder, and where recently identified cross-cutting structures are noted, approximately 100 m to the east of last year’s drilling.
Prospecting will also evaluate newly identified intrusive rocks and alteration that based on field observations, appears to be alteration related to a copper porphyry system.
“We are very happy to have earned a 100% interest in this large and intriguing epithermal gold and porphyry copper project, that continues to deliver. Along with a greater understanding of the gold system, we are still finding new mineralisation, rock types and alteration, that keeps increasing the potential of the property. In particular, the identification of features typically found at the top of an epithermal vein system and the strong correlation between IP anomalies and magnetic lows that continue to depth, is testament to the growing excitement and confidence surrounding Root & Cellar,” commented Ian Bliss, President and CEO, Northern Shield.
Read the article online at: https://www.globalminingreview.com/mining/18072024/northern-shield-acquires-newfoundland-project/
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