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Thursday, December 22, 2016 Derek Macpherson

NRN Reports Initial Results from Séquoi


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Northern Shield Resources Inc. (TSXV:NRN) announced preliminary results from the six holes drilled at its wholly owned Séquoi project located in the Labrador Trough in Quebec. Ultramafic intrusive rocks were visually identified in drill hole 16SQ-02. Of note, this hole also intersected a 15m segment of what the company believes to be a quartz and sulphide bearing shear zone that potentially contains gold (Figure 1), and further down, a 5m segment of what the company considers to be massive sulphides. Northern Shield has indicated that these results suggest the geologic model may have been altered, as is common with early stage exploration. We view the preliminary results as a technical success because of the massive sulphide intercept; however, assays are pending and the resultant grades may alter our view. Despite the lack of a true “discovery hole” and the altered geologic model, we do not believe that Northern Shield’s share price performance is reflective of the results; particularly since South32 (ASX:S32, LSE:S32) continues to fund the exploration program at the adjacent Huckleberry property.



Company description:
Northern Shield Resources Inc (TSXV:NRN) is an exploration company and wholly owns four drill ready Cu-Ni-PGE projects in the Labrador Trough in Quebec. The company has an option agreement with South32 on its Huckleberry property, and is the sole owner of the adjacent Séquoi property.

Derek Macpherson | VP Mining Analysis
Sunneva Bernhardsdottir | Associate, Mining Analysis
Victoria Ellis Hayes | Associate
 
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Company Specific Disclosure Details
Northern Shield Resources Inc - TSXV:NRN - 2
South32 Ltd - ASX:S32, LSE:S32 - None

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