Northern Shield Resources Inc (TSX-Venture:NRN) had, as curlers would say, "shot rock" (meaning its rock was closest to the centre of the house), in heralding new finds at one of its properties in Nova Scotia Tuesday.
The Ottawa-based miner said results from ongoing exploration at the Shot Rock Property show the continued identification of gold-anomalous to gold-bearing quartz veins in outcrop and boulders, with a possibly wider, possibly richer, area of exploration.
Shot Rock is being probed for low sulphidation epithermal gold mineralization through Northern Shield's wholly-owned subsidiary, Seabourne Resources Inc., which can earn up to an 80% interest in the Property.
In all, according to a news release out Tuesday, 24 of the 42 samples of quartz vein material recently submitted for analysis returned anomalous gold (>0.025 g/t Au).
Said CEO Ian Bliss, “We are very happy with the progress at Shot Rock. Although at an early stage, we continue to check a lot of critical technical boxes; firstly, the fluids forming these veins are gold-rich as indicated by the assays; rock textures provide evidence for a prolonged history of hydrothermal activity and efficient, vigorous boiling and; the numerous cycles of banding each represent a discrete boiling event.”
Investors found their eyes popping, too, with shares rocketing a penny, or 22.2%, as morning became afternoon on Tuesday, to 5.5 cents, on 482,000 shares.
