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Northern Shield to Maintain 100% of Huckleberry Property; Reconnaissance and Due Diligence to Commence on other Ni-Cu-Co-PGE Projects
Northern Shield to Maintain 100% of Huckleberry Property; Reconnaissance and Due Diligence...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"\n\n\n\nNorthern Shield to Maintain 100% of Huckleberry Property; Reconnaissance and Due Diligence to Commence on other Ni-Cu-Co-PGE Projects\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\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, Jan. 18, 2018\n\n\n\nOTTAWA, Jan. 18, 2018 /CNW/ - Northern Shield Resources Inc. (\"Northern Shield\" or the \"Company\") (TSXV: NRN) announced today that while South32 successfully met the Phase 1 requirements entitling it to acquire a 50% interest in the Huckleberry Project, it elected to relinquish the entitlement to acquire such interest and, as such, Northern Shield now hold a 100% interest in Huckleberry Property with no longer any third-party rights thereto. Accordingly, the Huckleberry Option and Joint Venture agreement announced on June 7, 2016 has been terminated. \n\n\"We remain confident in the technical merits and exploration potential of the Huckleberry Project and Labrador Trough, including Séquoi and Sé2,\" explains Northern Shield President and CEO, Ian Bliss. \"However, planned exploration for 2018 at Huckleberry and surrounding area may be limited as we focus on the Shot-Rock Gold Property in Nova Scotia and other Ni-Cu-PGE targets in Quebec and elsewhere. This will also allow for research at Huckleberry and the Labrador Trough in general to come to fruition and assist in future exploration. Research includes initiatives by the Geological Survey of Canada and a Ph.D. supervised by Dr. Wolfgang Maier at the University of Cardiff, Wales.\n\n\"We are very pleased with the relationship forged with South32 and appreciate their dynamic approach to exploration. We look forward to opportunities to re-establish joint ventures in the future,\" adds Mr Bliss.\n\nThroughout 2017, desktop evaluations of geological environments similar to the Labrador Trough elsewhere in the world have revealed two areas of interest for follow-up. Within the next few weeks the Company expects to have its geologists on the ground undertaking reconnaissance and due diligence on these projects it may acquire. At the same time, exploration will also commence at i...