Greenshield Res. hits gold at Urban

In ongoing drilling, Greenshield Resources (GSR-M) has uncovered two gold zones at the Urban property, 185 km northeast of Val d’Or, Que.

The junior is earning a half interest in the property from Moss Resources (MRS-T) by spending $250,000 over three years. Moss, in turn, owns 5 million shares (or about 34%) of Greenshield.

The drilling is aimed at testing 23 induced-polarization (IP) anomalies.

Highlights include hole 1, which encountered three gold zones: 7.1 metres (from 21.6 to 28.7 metres) of 0.53 gram gold per tonne; 3.5 metres (from 54.5 to 58 metres) of 1.8 grams; and 1.9 metres (from 101.4 to 103.3 metres) of 2.7 grams.

Hole 3 intersected 29.5 metres (from 99 to 128.5 metres) grading 1.4 grams, including 10.1 metres (from 109.2 to 119.3 metres) of 2.41 grams.

The gold zone encountered in hole 3 is associated with a

northeast-southwest-Trending induced-polarization (IP) anomaly which extends at least 600 metres. The gold zones of hole 1 are associated with IP anomalies which extend in the same direction for at least 200 metres and are interpreted to be parallel to, and about 200 metres south of, the zone of hole 3.

In both holes, gold mineralization occurs in highly sheared and altered felsic, intermediate and mafic meta-Volcanic rocks. The gold is associated with pyrite (up to 15%), sphalerite and chalcopyrite, with mineralization showing a lack of quartz veining.