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TSX Venture Exchange:
June 26, 2012 /PRNewswire/ -
StoneShield Capital Corp. (STS - TSX Venture Exchange; 5XS - Frankfurt Stock Exchange)
("StoneShield" or the "Company") is pleased to provide shareholders with its plans for exploration at the company's Geldenhoof property in the Blackwater discovery area,
The Geldenhoof property is comprised of two neighbouring mineral claims which total 2,613 hectares in size, and is located approximately 4km east of New Gold Inc.'s Blackwater Gold Project ("Blackwater"). Blackwater hosts defined indicated and inferred resources totaling 7.8 million ounces of gold. The deposit remains open in all directions and at depth, and New Gold plans to drill over 200,000 metres at Blackwater during 2012.
Company geologists have recommended a two-phase exploration program at Geldenhoof. Phase One would consist of follow up work on anomalous zones of silver, zinc, copper and gold discovered by the Company's 2011 soil sampling program in the western half of the property. The prominent northwest trending fabric within the soil geochemistry is compelling in that it corresponds to the margin of a two square kilometer magnetic high (likely a buried intrusive body) and suggests a strong structural control to mineralization in the area. Follow up exploration will include geologic prospecting, rock sampling and stream sediment sampling by a team of two geologists.
Phase Two would consist of an Induced Polarization survey to establish drill targets to test for precious and base metal mineralization at depth.
The Company is using the adjacent Blackwater discovery as an exploration model for its tenures and is very encouraged by its preliminary findings. The geology at Geldenhoof is similar to that found in the Blackwater area. Mesozoic to Cenozoic volcanic host rocks are locally brecciated and silicified and contain bodies of rhyolite of possible intrusive origin.