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Northern Shield Acquires Extensive Alteration System Hosting Gold-Silver in Newfoundland
Northern Shield Acquires Extensive Alteration System Hosting Gold-Silver in Newfoundland ...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"\n\n\n\nNorthern Shield Acquires Extensive Alteration System Hosting Gold-Silver in Newfoundland\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em\n}\n.prnml80{\nMARGIN-LEFT:6.67em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, ON, Aug. 4, 2020\n\n\n\nOTTAWA, ON, Aug. 4, 2020 /CNW/ - Northern Shield Resources Inc. (\"Northern Shield\" or the \"Company\") (TSX-V: NRN) is pleased to announce that it has acquired two licences through online-staking and, through an option agreement, also acquired the right to earn a 100% interest in an adjacent licence (the \"Merasheen Option\") on Merasheen Island in Placentia Bay, Newfoundland, about 60 km northeast of the Company's Root & Cellar gold project. Collectively, the three licences (the \"Merasheen Property\" or the \"Property\") cover 27 square kilometres. \n\n \n \n \n \n \n \n\n \nThe Property is being explored for gold and silver with local anomalous lead and zinc. There is very limited information and data available on the area, but what is found in the Mineral Occurrence Database of Newfoundland, and previously-filed assessment reports suggests that the target has characteristics of both bulk tonnage high sulphidation epithermal gold-silver systems and an Eskay Creek-style, precious-metal-rich, Volcanogenic Massive Sulphide deposits.\nThe Merasheen Option covers a gold occurrence discovered in 1998 and a nearby lead-zinc occurrence discovered in 1953. In 2003 and 2008, limited sampling was undertaken by an exploration company, however, the Property has seen no systematic or sustained exploration and no diamond drilling has been reported. The Mineral Occurrence Database of Newfoundland summarizes the occurrence as being:\n\"within an extensive zone of intense sericite-silica-pyrite alteration that is well exposed along a 1.4 km coastal section, approximately 500 m wide (across strike) at its southern end. It has been traced inland to the north for approximately 3 km along strike. Grab samples collected in 1998 from shoreline outcrop of pyrite-quartz veinlets hosted in semi-massive to massive pyrite retu...