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TSX Venture Exchange:
Sept. 11, 2012 /PRNewswire/ -
StoneShield Capital Corp. (STS - TSX Venture Exchange; 5XS - Frankfurt Stock Exchange)
("StoneShield" or the "Company") is pleased to provide shareholders with an update on drill permitting and drill plans for the Company's Goldtooth project in
Inyo County, CA. The Goldtooth project consists of two separate claim blocks, located 11 kilometers apart, bookending Atna Resources'
Briggs Gold Mine ("Briggs").
Over the past few months, StoneShield has been working with consulting groups to complete required surveys at Goldtooth to modify and expand the existing drill permit prior to its planned fall drill program. Both wildlife/botanical and archaeological surveys are now complete and have been filed with the Bureau of Land Management ("BLM"). Approval of the modified drill permit is expected in the near future.
Having added new claims in late spring, StoneShield is now focused on drilling targets in the South Goldtooth claim block. StoneShield plans to drill 25 holes to test for continued gold mineralization on trend with Briggs mineralization. The modified drill permit, planned for this fall, will consist of 12 reverse circulation drill holes for a minumum of 3,000 meters, all located immediately to the south of the active, producing Goldtooth Pit at Atna's Briggs Mine. The northernmost hole is planned as close as 150 meters to the final perimeter of the producing
Briggs Goldtooth Pit, currently under expansion.
The remaining 13 drill holes will test the Goler Canyon target area located in the southern portion of the Goldtooth property where four rock samples returned assay results of 18 grams per tonne ("g/t") gold, 30 g/t gold, 37 g/t gold, and 61 g/t gold. The South Goldtooth claim block has significant structural preparation, alteration, favorable host rocks and gold mineralization intermittently exposed near the range front along its entire length.