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Northern Shield Resources Completes Drill Program at Highbank Lake and Stakes Claims in the Highbank Lake-Noront Area OTTAWA, Oct. 1 /CNW Telbec/ - (TSX:V-NRN) - Northern Shield Resources Inc. ("Northern Shield") announced today that its drill program at Highbank Lake has been completed with assay results expected to be completed in two to three weeks. During this program, which started in June, 7 holes were drilled for a total of 3395 meters. The Highbank Lake property (400 sq km) covers a recently discovered layered mafic-ultramafic intrusion, which extends for approximately 500 square kilometers, and is being explored for reef-hosted PGE and chromium, and contact-type PGE mineralization. The property is located 30 km south of the Ni-Cu-PGE occurrence recently discovered by Noront Resources Ltd. Following the announcement by Noront, Northern Shield has staked several claims in the area between Highbank Lake and the Noront discovery to cover a number of magnetic anomalies that are interpreted as possible mafic-ultramafic intrusions. Three new claim groups totalling 25 square kilometres were staked and two other claim blocks also covering magnetic highs were staked in the area prior to Noront's discovery. These claims are not part of the Impala option agreement and are owned 100% by Northern Shield. Images of these magnetic anomalies will be available shortly on the Northern Shield's website. Impala Platinum Holdings Limited of South Africa, the world's second largest platinum producer, maintains a 45% interest in the PGE and PGE by-products of the Highbank Lake property and has the option of incrementally earning up to a 60% interest in the PGE and PGE by-products of the property by incurring a total of $5 million in exploration expenditures on the property by 2010. Drilling operations were supervised by Christine Vaillancourt, Northern Shield's Chief Geologist and a Qualified Person under National Instrument 43-101. Northern Shield is an innovative, results-driven Canadian company focused on PGE exploration. 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 optimal benefit. For further information on Northern Shield and its properties, please visit Northern Shield's website at www.northern-shield.com. Forward-Looking Statements Advisory 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. |
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| aus der Diskussion: | FAKTENTHREAD: JAMES BAY LOWLANDS (firmenunabhängige Übersicht) |
| Autor (Datum des Eintrages): | Luzeo (28.10.07 11:39:58) |
| Beitrag: | 31 von 243 (ID:32179493) |
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