Northern Shield Resources Inc.
Concentrating on Platinum group element (PGE), Gold & Diamond exploration.
Northern Shield Resources Inc. TSX.V : NRN, Frankfurt : N9S, is a Canadian-based, dynamic and innovative mineral exploration company concentrating on platinum group element (PGE) exploration in under-explored regions of Canada.
The Company has taken the initiative to conduct much of its exploration in under-explored areas using a scientific, model-driven approach to define targets and target areas.
Northern Shield believes there are more world-class deposits to be discovered in eastern Canada but in order to find these one must look in new areas and take a fresh approach.
This strategy has already been successful in the discovery of a large layered intrusion at Highbank Lake. Such intrusion are highly prized for their potential to host significant PGE, chromium and vanadium mineralization and the Highbank Lake Property now represents one of the largest, untested platinum targets in North America.
This discovery led to an Option Agreement with Impala Platinum Holdings Ltd, the world’s second largest producer of platinum, with a market capitalization of nearly UD$6 billion.
Highbank Lake is Northern Shield’s flagship property. It totals 298 sq km and covers one of the largest untested PGE (platinum group elements) targets in North America. In early 2004,
Highbank Lake, Eastbank, & Fishtrap properties
6 Property groups in the McFaulds Lake/James Bay Lowlands are being explored for PGE and Ni-Cu-(PGE).
Only junior in the area to be partnered with a major – Impala Platinum Ltd. from South Africa.
Highbank and Eastbank Properties cover the two largest PGE targets in the area.
A large layered intrusive complex discovered by Northern Shield in 2003.
The well layered nature of the intrusion that underlies the Highbank Lake property, the presence of strong chrome and chromitite anomalies directly above the intrusion, and the current understanding of the petrology and geochemistry obtained from the diamond drill core suggest high potential for “reef-style” PGE mineralization similar to the mineralization found in the Bushveld Igneous Complex of South Africa or the Stillwater Complex in Montana, USA.
Impala Platinum Holdings Limited of South Africa currently maintains a 45% interest in the PGE and PGE byproducts of the Highbank Lake property and has the option of incrementally earning up to a 60% interest by incurring a total of $5 million in exploration expenditures on the property by 2010.
Northern Shield maintains a 100% interest in the chromite rights.
To date, Northern Shield Resources has completed 21 diamond drill holes for a total of 6773 metres. Extensive lithogeochemistry performed on over 1500 core samples has help define stratigraphy and focus the targeting of reef-hosted PGE.
Northern Shield maintains a 100% interest in the 725 square kilometre Eastbank Property.
The property covers a newly identified target that management believes to be the lower portion of a vast layered intrusion, perhaps part of the Highbank Lake Complex.
The magnetic bands of the new target appear to merge with the layered intrusion at Highbank Lake suggesting that the area may be underlain by a very large layered intrusive complex combine to cover an area over 1,500 square kilometres.
The fold pattern and magnetic signature suggest that the Eastbank portion is likely dominated by mafic-ultramafic rocks that commonly compose the lower stratigraphy of a layered intrusion, which are ideal targets for reef hosted PGE-(Cr) and Ni- Cu-PGE deposits.
The layered magmatic rocks at Fishtrap, Highbank and the target at Eastbank are interpreted to be all part of the same layered intrusive complex.
The Highbank area displays evidence of multiple phases of large-scale folding.
This folding caused the layered intrusive complex to be exposed in three places: Fishtrap, Highbank and Eastbank.
The sketch above shows in a very broad and simplified way how these exposures could have been formed with progressively smaller fold amplitudes towards the northwest. SEE IMAGE HERE
The rocks underlying Fishtrap are interpreted to be dominantly from the Main Zone (upper portion of the layered intrusion) whereas at Highbank, because the amplitude of the fold is slightly greater than at Fishtrap, deeper portions of the intrusion are seen at, or near surface, and hence both Main Zone and Critical Zone rocks are observed.
Because the amplitude of the fold at Eastbank is still greater, the deepest portions of the layered complex should be exposed or near surface at Eastbank and hence the rock sequence would likely be dominated by the Critical Zone.
Larder River Property is a newly staked komatiite-hosted Ni-Cu-PGE prospect located southeast of Timmins. The deposit-type has recently gained attention due to the intersection of 72.5 meters of 1.14% Ni by Golden Chalice Resources Inc near Timmins.
Faint Hope Property In 2004, Northern Shield discovered gold anomalous (309, 111, and 68 ppb Au), sulphide-bearing boulders while drill testing a kimberlite target on its Faint Hope Property north of Cochrane, Ontario. The property is located in the middle of the Opatica metasedimentary belt and is up-ice from well-defined gold-arsenopyrite-(chalcopyrite) stream sediment anomaly. Arsenopyrite is a common pathfinder for gold in terrains dominated by sedimentary rocks as has recently been highlighted at Virginia Golds’ Eleonor Project in Quebec where gold mineralization is associated with arsenopyrite.
The Wabassi Ni-Cu-PGE Property covers an unexplored layered mafic-ultramafic intrusive complex. Although smaller than Highbank, layers within the Wabassi intrusion can be traced on the magnetic airborne survey for 7 kilometres. A rock sample that was randomly collected from an outcrop during a very brief reconnaissance of the property in the fall of 2007 assayed 130 ppb Pt + Pd. Preliminary study of samples revealed that the mineralogy and cumulate nature of the rock are evidence of a layered mafic/ultramafic intrusion with potential to contain reef-hosted PGE-(Ni-Cu) mineralization and Ni-Cu-(PGE) massive sulphide mineralization.
Hale Lake is located 55 km southwest of Highbank Lake and 40 east-north-east of the Norton Lake Ni-Cu-PGE Deposit operated by East-West Resources and Cascadia Resources. The Norton Lake deposit currently has a indicated and measured resource of 2.3 million tonnes @ 0.67% Ni, 0.61% Cu and 0.47 g/t Pd. The Hale Lake target is ideally situated along a major regional structure that may be part of Oxford-Stull terrain boundary.