OTTAWA, June 13, 2013 /CNW/ - Northern Shield Resources Inc. ("Northern
Shield") (TSXV: NRN) is pleased to provide an exploration update on the
Ikertoq nickel project in west Greenland.
Exploration crews will be mobilized to Greenland shortly after mid-June to
undertake a reconnaissance of the Ikertoq property prior to drilling, which
will commence the following week. An eight to ten hole, 1500 metre diamond
drill program is currently planned to test Targets A, B, C and L (see
www.northern-shield.com). All of these targets are based on the results of a
VTEM survey completed in late 2012, which show a strong correlation between
electromagnetic (EM) and magnetic anomalies. The very strong conductance (EM)
of these targets is consistent with the typical signature of nickel deposits.
Surface nickel mineralization was discovered by Greenland Gold Resources Ltd.
("Greenland Gold") at Target A in 2010 (prior to the VTEM survey) with 14
samples assaying greater than 1% Ni. Modeling of the VTEM data at Target A
shows the top of the conductor to be at a depth of approximately 100 meters
below surface. Targets B and C are modeled at 150-200 meters depth and L is
modeled at, or very near, surface. An application has been made jointly by
Northern Shield and Greenland Gold to expand the current Ikertoq property from
120 square kilometres to approximately 388 square kilometres.
Northern Shield has the option to earn a 50% interest in the Ikertoq nickel
property from Greenland Gold by incurring €1,000,000 ($CDN 1,350,000) of
exploration expenditures by February 2014 and a further €1,750,000 ($CDN
2,400,000) of exploration expenditures on the project by February 2016. If
Northern Shield earns a 50% interest, the project will become a 50/50 joint
venture with Northern Shield as operator.
Northern Shield has also applied for a mineral license in the same general
area totaling 1,800 square kilometres. The license covers ground that Northern
Shield believes to be also prospective for Ni-Cu-(PGE). Final approval of the
license is pending.
Exploration will be overseen by Christine Vaillancourt, Chief Geologist for
Northern Shield and a Qualified Person under National Instrument 43-101.
Northern Shield is an innovative, results-driven Canadian company focused on
Platinum Group Element (PGE) and nickel-copper-(PGE) exploration in Canada and
Greenland, and copper-zinc-silver exploration on its Wabassi and Storm
properties in northern 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.
Forward-Looking Statements Advisory
This news release contains statements concerning the geophysics, drilling and
exploration plans, results and potential Ni-Cu-PGE and other mineralization at
the Ikertoq property and new license areas, geological, geophysical and/or
geometrical analyses of the Ikertoq property and new license area, 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 and analysis.
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For further information on Northern Shield and its properties, please visit
our website atwww.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
Renmark Financial Communications Inc. Barry Mire:firstname.lastname@example.org
Nadia Marks:email@example.com Tel.: (514) 939-3989 or (416)
SOURCE: NORTHERN SHIELD RESOURCES INC.
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