Updates on Exploration Programs in north-western Ontario
Northern Shield Resources Inc. announces that field crews are being mobilized to the Wabassi property to prepare for ground and down-hole EM and magnetic surveys that will be used to prioritize several targets that have been selected for diamond drill testing that is planned for early February. The focus of the geophysics and drill program is a very strong and large, magnetic and VTEM anomaly identified by an airborne survey carried out subsequent to the initial drill program at Wabassi during May of last year. This anomaly (Anomaly ‘E’) is 500 meters in length and 70 meters thick. Two other new conductors defined by ground geophysics completed last spring will also be tested in the A1 Zone along with anomaly “C” which now can be traced for approximately 1 kilometer along strike (see Northern Shield’s website for maps and details). The size and scope of the drill project will depend, amongst other things, on the geophysical modeling.
The geophysics and diamond drilling programs are being funded by Discovery Harbour Resources Corp. under the option agreement whereby Discovery has the option of earning a 51% interest in the Wabassi property by incurring $3.4 million in exploration expenditures by March 2012. Prior to the current exploration programs, Discovery had spent $1.7 million towards its earn-in.
Northern Shield also announces that the drill program at Max was frustrated and delayed by on-going technical difficulties largely brought about by the repeated failure of a single component of the drill. The program was suspended part way through the third drill-hole by Northern Shield until the cause of the failures could be determined and the problem rectified. The first hole drilled, targeting a discrete VTEM anomaly that management believes coincides with a feeder conduit, also deflected off-course and passed over the top of the anomaly. Northern Shield has since been informed by the drilling company that the problem has been remedied and as such Northern Shield looks forward to returning to the area.
The Wabassi Property is located in north-western Ontario, 60 km south of the Highbank Lake project and 100 km south of the Ring of Fire Ni-Cu-PGE and Chromite deposits. The property is being explored for reef-hosted PGE and massive sulphide Ni-Cu-PGE deposits and Cu-Zn-Ag-Au volcanogenic massive sulphides (VMS). The proposed railway route which will access the Black Thor and Black Label chromitite deposits in the “Ring of Fire,” now owned by Cliffs Natural Resources, passes very to the Wabassi property.