McChip Resources Inc. press release
Northern Shield Announces VTEM Results from Highbank Lake and Drill Plan for Eastbank PGE Properties in Northwestern Ontario
TSXV - TSX Venture Exchange · Oil · Potash · Natural Gas · Canada
OTTAWA, March 13 /CNW Telbec/ - Northern Shield Resources Inc. ("Northern Shield") (TSX-V: NRN) is pleased to announce the results of an airborne VTEM survey conducted over a portion of the Highbank Lake property last November and funded by Impala Platinum Holdings Ltd. under the terms of its option agreement with Northern Shield.
The survey was completed by Geotech Airborne Ltd. at 150 meter spaced lines and totaled 600 line kilometers. Further modeling of the data is underway; however, a distinct conductor is clearly apparent in the northern portion of the survey block. The shape, signature and location of this conductor matches Northern Shield's interpretation as to where the ultramafic sequence of rocks ("Critical Zone") that would host any PGE-bearing reef would project to, or near surface. The anomaly is located up-ice from till samples where grains of nickel, copper and platinum minerals as well as numerous boulders of chromitite have been previously discovered by Northern Shield.
The survey at Highbank Lake also revealed a kimberlite target in the southern portion of the property as defined by a coincident circular magnetic and EM anomaly approximately 200 meters in diameter. Kimberlites are the host rocks for diamonds. Numerous kimberlite indicator minerals have been recovered from till samples collected on the Highbank Lake property by Northern Shield in 2003-2005 and by the Ontario Geological Survey prior to such time.
The results of the airborne VTEM survey at Highbank Lake were reviewed by Christine Vaillancourt, Northern Shield's Chief Geologist and a "qualified person" under National Instrument 43-101.
In addition, Northern Shield is planning a small diamond drill program at its 100% owned Eastbank property that is likely to commence in April or as soon as possible after spring break-up. The program is designed to confirm management's interpretation that the 750 square kilometer property is underlain by the ultramafic portion (Critical Zone) of the Highbank Lake Intrusive Complex that extends eastward from the Highbank property. The drill is currently being used by a second party and will be moved to Eastbank when it becomes available.
Northern Shield is an innovative, results-driven Canadian company focused on Platinum Group Element (PGE) exploration in Ontario. 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. For further information on Northern Shield and its properties, please visit our website at www.northern-shield.com.
Forward-Looking Statements Advisory
This news release contains statements concerning the potential for nickel, copper, PGE and diamond mineralization at the Highbank Lake property, geological, geophysical and/or geometrical analyses of the Highbank Lake and Eastbank properties, drilling plans at the Eastbank property 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.
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