Greenshield cuts gold near Timmins

Greenshield Resources (GRE-V) has intersected significant gold at the “A” zone in Newton Twp., 100 km southwest of Timmins, Ont.

A drill program of 23 holes (961 metres) tested the zone at shallow depth over a strike length of 100 metres. Holes 16, 17 and 18 intersected 4.24 grams gold per tonne over 3.65 metres, 4.39 grams over 1.95 metres, and 4.48 grams over 2 metres.

Three holes were drilled at each of seven setups spaced about 10 metres apart. Holes were drilled at angles of 45, 60 and 70. Two holes were drilled about 20 metres along strike. All holes intersected an interval of 3-4 metres with anomalous gold values.

The northeast-trending “A” zone is characterized by strongly carbonatized and silicified mafic volcanic rock with finely disseminated pyrite. Last year, several grab samples taken at this site resulted in assays in the range of 5-10 grams gold (and up to a high of 40 grams gold per tonne). In addition, 13 channel samples were taken over a 35-metre strike length; eight of these channels graded from 3.45 to 7.16 grams gold over 1-2 metres.

Greenshield is now drilling the West Extension and Line 23 zones. The West Extension zone is 2 km south of the “A” zone, whereas Line 23 is 425 metres west of the West extension.

Last year, two shallow holes failed to intersect significant mineralization at the Line 23 zone, where grab samples assayed up to 34 grams gold per tonne. Recent interpretation suggests faulting displaced the zone, and that further drilling is warranted.

The West extension zone is associated with faulted quartz feldspar porphyry sills intersecting deformed and altered mafic volcanic rock. The zone has been traced over a strike length of 1 km and it is still open at both ends.

Greenshield can earn a 70% interest in a 65-sq.-km area within Coppell and Newton twps. held by Placer Dome (PDG-T).

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