Northern Shield gets good indicators in northern Ontario

Till sampling at Northern Shield Resources‘s (NRN-V) Eastbank property indicates that the property may host a mafic or ultra mafic intrusion.

For platinum group element fans, that could be good news, as the heavy minerals are hosted in such intrusions.

The Eastbank property lies within the western James Bay Lowlands in northern Ontario and is wholly owned by Northern Shield.

The relevant minerals and rock fragments the samples yielded were chromite, chrome-bearing clinopyroxene, orthopyroxene, chrome-bearing andradite, olivine, nickel-cobalt bearing loellingite and fragments of gabbro.

In its release Northern Shield points out that because olivine and nickel-cobalt loellingite easily weather away, their presence could suggest proximity to their source.

Northern Shield is testing to see if the property contains the layered intrusive complex similar to that found on its neighbouring Highbank Lake property.

The company points out that 80% of the world’s production of platinum comes from layered intrusions in southern Africa.

Impala Platinum Holdings is the company’s partner at Highbank and can earn 60% of the project by spending $5 million on exploration. Early drill results from the project, however, have been “disappointing” according to Northern Shield with regards to platinum group elements being found in the rock.

In Toronto on Apr. 29 the company’s shares were off roughly 3% or 2 to 60 on 33,500 shares traded. Over the last 52-week period, its shares have traded between 28 and $1.22 and it has 51.8 million shares outstanding.