Shield Gold Inc. Provides Year End Corporate Update
Toronto, Ontario--(Newsfile Corp. - December 19, 2013) - Shield Gold Inc. (TSXV: SHG) ("Shield" or the "Corporation") is pleased to report an update on its recent corporate developments.
Shield completed a successful airborne geophysical survey over its Lochaber Township graphite properties (the "Bell" and "Powerline" claim blocks) in the Outaouais region of southwestern Québec which was announced earlier this year. Data from this survey and prior airborne surveying was compiled and the results re-analyzed: a total of 63 targets were identified on the Diamond and Diamond West Blocks; 49 on the Bell Block and 14 on the Powerline Block. These targets lie coincident with the 14 kilometres of electromagnetic conductive trends previously identified, and are also coincident with linear trends in the magnetic and radiometric data.
Currently, there are two field crews working on the Shield properties in Québec conducting an extensive Beep Mat survey to follow-up on the targets identified by the airborne survey. Information from this survey will be collected, compiled and interpreted by Shield's geology group to assist with planning a drill program to be scheduled for the spring of 2014.
The Beep Mat is an extremely powerful electromagnetic instrument that can efficiently detect conductive and magnetic outcrops hidden under up to 3 m of overburden. The Beep Mat is pulled, sled-like, across the selected target areas where it can signal the presence of conductive materials hidden in the ground. Simultaneous measurements of the ground's conductivity are displayed and areas of mineralization are pinpointed in real-time. This survey work will be completed by the end of the year.
Technical reports for the completed studies as well as images and photographs from the field work are all available on the Corporation's web site.
Shield has commenced a customer sampling program with 12 graphite end users that are located in North America. Processed samples of the graphite that was collected during the Corporation's bulk sample and metallurgical testing that was announced in November will be sent out to qualified companies that have requested and detailed their specific graphite/carbon requirements.
Shield announced a non-brokered financing at the beginning of December that is comprised of Flow-Through and Non-Flow-Through units (collectively the "Offering"). Net proceeds from the Offering will be used to fund exploration of the Company's graphite prospects in the Buckingham and Lochaber Townships of southwestern Québec and to develop additional graphite exploration opportunities for the Company. The financing will also be used to fund the metallurgical testing and sampling programs that are currently underway.
The Corporation's Chairman, Mr. John M. Siriunas has tendered his resignation as a board member and chairman effective immediately. John has been with the company since its inception and the Shield Team wishes to thank him for all of his efforts in building a well capitalized junior mining business. John will continue to assist the Corporation as VP Exploration and serve as advisor to the CEO and to the Corporation's counsel.
Mr. Jeff Zajac, who joined the Shield Board in September, 2013 has been appointed Chairman of the Corporation. Jeff brings a vast knowledge and skill set which will assist Shield moving forward with its plans to commercialize its graphite assets and raise capital necessary for the exploration and development of its Québec properties. Mr. Zajac's biography can be found Shield's website: www.shieldgold.com.
The technical content of this press release has been reviewed and approved by Mr. John Siriunas, P.Eng., a Qualified Person as defined by NI 43-101.
About Shield Gold Inc.: Shield is a junior exploration company involved in the discovery and development of high quality mineral resources. The Corporation's graphite exploration programs, in the Buckingham and Lochaber Townships of Québec, are located in the Central Metasedimentary Belt of the Grenville geological province. The region is noted in historical reports as hosting occurrences of disseminated flake and, locally, vein or lump graphite. Graphite was mined from several deposits in the late 19th and early 20th Centuries. Shield's land position includes more than 70 mining claims representing some 3,500 hectares in four separate blocks. They are easily accessible, connected by paved road and lie within 15 km of each other. The Corporation has also entered into option and joint venture agreements with Eloro Resources Inc. on the Summit-Gaber property located in the La Grande Greenstone Belt in the James Bay region of Québec. Further information regarding Shield can be found on the Company's website at: www.shieldgold.com.
For more information, please contact:
|Paul A. Gorman, CEO||Paul R. Ankcorn, CFO|
|Tel.: 416-768-6101||Tel: 416-414-9171|
|E-mail: firstname.lastname@example.org||E-mail: email@example.com|
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