Northern Shield Resources (TSXV:NRN) has announced the results of seven grab rock samples recently received from the Five Island copper-gold-cobalt property in Nova Scotia. The company can earn up to an 80 percent interst in the property through an option agreement with Seaborne Resources.
The company will proceed with further reconnaissance of the property next week.
As quoted in the press release:
Five of the seven grab samples collected assayed between 0.23 percent and 0.57 percent cobalt and up to 0.19 grams per tonne of gold. The mineralization is hosted in a highly sheared, bleached, brecciated and veined basalt located at the margin of a granitic intrusion. The basalt shows multiple phases of alteration and deformation. All seven samples were collected within about a 25 metre radius of each other. Most of the rock samples collected were likely sub-crop though at least one appears to be the top of bedrock.
A stream sediment sample analyzed by the Nova Scotia Department of Natural Resources assaying 650 ppm cobalt (0.07 percent cobalt) occurs 700 metres west from the cobalt showing, suggesting possible continuity of mineralization along the contact from the cobalt discovery to the stream that hosts the anomalous sediment sample.
Further reconnaissance of the property will commence next week. Since overburden is shallow, trenching of the exposed mineralization is also being planned to map the bedrock and determine the extent of mineralization. The Property is being explored contemporaneously with the Shot Rock Property where the first batch of stream sediment and rock samples have recently been shipped for analysis. Shot Rock is being explored for epithermal-style gold mineralization likely related to the Cobequid-Chabucto Fault which links the two property areas.
Click here to view the full Northern Shield Resources (TSXV:NRN) press release.
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