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TORONTO, Feb. 10, 2011 (GLOBE NEWSWIRE) -- Shield Gold Inc. ("
Shield" or the "
Company") (TSX-V:SHG) is pleased to announce that the report on its 2010 exploration program on the Summit-Gaber and Gaber properties has been received and identifies numerous priorities for exploration in 2011.
The main focus of the 2010 exploration program was a reconnaissance B-horizon soil geochemical survey, as recommended in the National Instrument (NI) 43-101-compliant Technical Report on the Summit-Gaber property prepared by Jean-Pierre Bérubé, P.Eng., of MRB & Associates, Val-d'Or, Québec, in September 2009. The NI43-101 report proposed that both VMS and Ni-Co-Ag arsenide mineralization be used as guidelines for future exploration -- and that this mineralization is possibly analogous to the silver-rich deposits in the Cobalt mining camp of northeastern Ontario.
The 2010 exploration program was conducted by MRB & Associates under the supervision of Rémi Charbonneau of Inlandsis Consultants. Dr. Charbonneau is a specialist in the planning and interpretation of till and B-horizon surveys in the James Bay area. He has worked with numerous junior and senior exploration companies, including Virginia Gold Mines and Opinaca Mines, Goldcorp's subsidiary in Québec. Goldcorp acquired the Éléonore gold property from Virginia in 2006 and incorporated Opinaca as its operating company for the Éléonore project.
At Summit-Gaber and Gaber in 2010, a total of 921 B-horizon soil samples were taken on north-south lines spaced 300 metres apart and covering some 20 square kilometers of the properties. A detailed compilation map showing the locations of the B-horizon samples is available on the Company's website at
http://www.shieldgold.com . All 921 soil samples were analysed by ALS Chemex of Val-d'Or, Québec, for 38 elements including gold, silver, copper, cobalt, platinum and palladium.
In his final report, Dr. Charbonneau notes that: "
...the high priority targets are more extensive than the geochemical response found in association with the known showings... high priority anomalies are scattered over the eastern half of the property, suggesting that the mineralizing system extends over a much larger areathan the trend formed by the known showings." In summary he states:
"There are many significant signals for Cu, Ag, Pt, Pd and Au... resulting in the contouring of 80 anomalies, 18 of which are of high priority."Howard Sinclair-Jones, President and CEO of Shield Gold commented:"We're delighted to receive the report on the 2010 exploration program. The identification of so many high priority anomalies covering such an extensive area is very encouraging. Over the next few weeks we'll review the report in detail and focus our 2011 exploration plans around these priority targets."Shield Gold has entered into option and joint venture agreements with Eloro Resources Inc. on the Summit-Gaber property and with Virginia Mines Inc. on the La Grande Nord property. The contiguous properties are located in the La Grande Greenstone Belt in the James Bay region of Québec.
About Shield Gold Inc.: Shield Gold is a junior exploration company whose mission is the discovery and development of high quality precious and base metal resources. Shield's exploration work is currently focussed on the La Grande Greenstone Belt in northern Québec.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT: Howard Sinclair-Jones, President