Newmont high grade results on Golden Shield property

Several high grade gold showings have been discovered by Newmont Exploration of Canada during field work on ground optioned from Golden Shield Resources. Located in Hoblitzell Twp., Ont., the property covers extensions of the favorable geophysical trends striking into Ontario from the active Casa Berardi area in Quebec.

Some of the highest values have been returned from an overburden drill hole located approximately 2 km east of a gold showing discovered in 1985. Values of 16,000 parts per billion gold, equivalent to 0.5 oz gold per ton, were assayed in one hole near bedrock.

At the gold showing, located near the centre of the property, Newmont completed two diamond drill holes which tested the mineralized outcrop. Grab samples, taken from the outcrop in 1985, assayed 0.11 oz gold per ton.

The first hole returned a section weakly anomalous in gold. The second hole, 261-86-2, collared north of the first hole, intersected a quartz vein zone from 542-793.8 ft. Some of the better sections include 5.2 ft grading 0.52 oz gold per ton, 3.6 ft grading 0.13 oz and a 1-ft section assaying 0.35 oz.

Surface work on the mineralized zone included the excavation of 12 trenches on 100-m intervals along a strike length of 300 m west of hole 261-86-2 and 100 m east of the hole. Golden Shield notes that 160 channel samples were taken and the majority of the assays are expected shortly. A sample from one shear section 100 m west of the hole, however, assayed 1.3 oz gold per ton across 2.3 m. A drilling program is planned for early 1987, the partners say.