OTTAWA, Sep. 9, 2010 (Canada NewsWire via COMTEX News Network) — Northern Shield Resources Inc. (“Northern Shield”) (TSX-V: NRN) is pleased to announce exploration updates for the Wabassi and Highbank Lake projects and exploration activities in Quebec.
Northern Shield is planning an IP (induced polarization) geophysical survey at its Highbank Lake project in northern Ontario in which Northern Shield currently has a 55% interest and Impala Platinum Holdings Ltd has a 45% interest. The survey will be conducted by Quantec Geoscience of Toronto, Ontario and will commence shortly. Drilling in 2007 indicated that drill-holes 07HB-01 and 05 intersected what management believes to be the very top of the “Critical Zone” which marks the transition from mafic to ultramafic rocks. It is just below this transition in the Bushveld Complex in South Africa that the two main PGE-bearing reefs are located. The IP survey will be conducted over several profiles in an area where the Critical Zone is projected to come near, or, to surface. Previous work by Northern Shield has identified grains of sperrylite (platinum sulphide) and pentlandite (nickel sulphide) along with chromite grains and boulders in stream sediment samples immediately adjacent to this target area. The data from the IP survey will be used to guide drilling in an up-coming program that is being planned.
The proposed route of a road and railway which will access the near-by Black Thor and Black Label chromitite deposits in the “Ring of Fire,” now owned by Cliffs Natural Resources, passes through the Highbank Lake Intrusive Complex. Previous drilling by Northern Shield also intersected significant vanadium-iron-ore mineralization at Highbank (see press release dated October 6, 2006). The economic viability of the vanadium, or any other deposit found on the Highbank property, would be greatly improved by the existence of a road and railway.
“We are very excited to be getting back to Highbank Lake,” says Northern Shield president and CEO, Ian Bliss. “There are vast areas of the property that have not been touched by past drilling that warrant a thorough investigation based on the abundance of data that supports PGE mineralization at Highbank. The vanadium-iron ore mineralization also comes into play with the proposal of the railway route passing nearby, and future exploration will likely include work to better evaluate the vanadium,” adds Mr. Bliss.
The interpretation and modeling of combined geophysical datasets from Wabassi is nearly complete. The Wabassi property is currently owned 100% by Northern Shield with Discovery Harbour Resource Corp funding exploration to earn a 51% interest. Condor Consulting of Golden, Colorado has been contracted to complete the interpretations and to furnish drill-hole solutions for a drill program currently being planned for early winter.
To date, the remodeling of the airborne VTEM, ground pulse EM (InfiniTEM) and magnetic data has shown that the A1-A2 Zone to be comprised of eleven conductors identified from the ground EM survey and seven conductors from the airborne VTEM survey. The most notable outcome of the modeling from this area is the identification of two deeper and much larger conductive bodies in the A1 zone that were not intersected in the first phase of drilling that was completed in May. Ten other conductors within the A1-A2 zones also remain untested.
In addition, two other conductors from the May, 2010 VTEM survey have been evaluated. This survey covers an area immediately to the south and west of Wabassi A1 and A2 Zones. The strongest and largest of these is Anomaly “E”. It has been modeled as 70 meters thick with good conductivity and represents the largest VTEM target of all those at Wabassi. The other target developed from the spring 2010 survey is a continuation of the 2008 anomaly “C” which now can be traced for approximately 1 kilometer along strike. It too has good conductivity and modest depth extent.
“Based on this detailed interpretation of the airborne and ground geophysical datasets, we clearly have a number of very high priority conductive bodies at Wabassi that require testing after our successful, initial drill program at Wabassi in the spring, where both Cu-Zn VMS-style and magmatic Ni-Cu mineralization was identified. In particular we are eager to drill the three largest conductive bodies which have all yet to be tested” says Northern Shield president and CEO, Ian Bliss.
Northern Shield has also recently staked 28 units in the Baune River area near Sept Iles, Quebec that cover a mafic/ultramafic intrusion that management believes to be prospective for PGEs. Further reconnaissance and prospecting is ongoing.
Northern Shield is an innovative, results-driven Canadian company focused on Platinum Group Element (PGE) exploration in Ontario and Quebec. 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.
Forward-Looking Statements Advisory
This news release contains statements concerning the drilling plans, results and potential for Ni-Cu-PGE, vanadium and Zn-Ag mineralization at the Wabassi and Highbank Lake properties, geological, geophysical and/or geometrical analyses of the Wabassi, Highbank Lake and Quebec properties 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.
SOURCE: NORTHERN SHIELD RESOURCES INC.
on Northern Shield and its properties, please visit our website at www.northern-shield.com or contact Northern Shield Resources Inc.: Ian Bliss, President and CEO, Tel.: (613) 232-0459, Fax: (613) 232-0760, email@example.com
Copyright (C) 2010 CNW Group. All rights reserved.
Leave a ReplyWant to join the discussion?
Feel free to contribute!