Good morning to you all. Taking into full account that Canadian Shield (CSP: TSXV) is an AGORACOM client and, therefore, you should assume that we are massively conflicted, we believe the news of out of the Company this morning is significant. Canadian Shield was halted on Wednesday pending this news. I’ve included the highlights below but you should read the press release in its entirety here.
Canadian Shield was trading at .19 when it was halted, for a market cap of approximately $10,000,000. The news hit the wires around 10:12 AM, so expect the halt to remain for anywhere between 30 – 60 minutes.
In the meantime, here are the highlights:
Canadian Shield Resources Inc. (TSX V:CSP)
INTERSECTS 107 METRES GRADING 99.1 g/t SILVER EQUIVALENT AT LA ESTRELLA
results from the Phase 1 drill program recently completed at the La Estrella Gold-Silver-Copper Property located in the Department of Huancavelica, central Peru.
HIGHLIGHTS
– Drill hole RC-E10 intersected 107 metres of 77.7 grams per tonne (g/t) silver and 0.39 g/t gold, a Silver Equivalent (AgEq) grade of 99.1 g/t or 1.81 g/t Gold Equivalent (AuEq) from 30 to 137 metres depth.
o High Grade Interval includes 21 metres grading 0.62 g/t gold, 216.6 g/t silver, or 250 g/t Silver Equivalent from 38 to 59 metres depth. Within this high grade zone, grades range from 36 g/t to 913 g/t silver, and 0.211 g/t to 1.27 g/t gold from individual one (1)metre sample intervals.
– In Drill Hole RC-E11, the last 19 metres of that hole ended in 0.93 g/t gold, 58.8 g/t Silver or
2 g/t Gold Equivalent (AuEq) or 109.5 g/t Silver Equivalent (AgEq). Grades range from 0.347 g/t to 1.77 g/t gold and from 17.8 g/t to 244 g/t silver over this uniformly mineralized interval to the bottom of the hole. RC-E11 was stopped at 163 metres due to difficult ground conditions.
table summarizes drill results and displays continuity and multiplicity of higher-grade mineralized zones contained within a broad zone of disseminated, low-grade mineralization. Significant mineralization was encountered in 10 of the 11 drill holes
“Drill results from our first phase of drilling on the property are very exciting and we have effectively tested targets based on a multi-disciplinary approach. Combining our results with those from previous drilling by Bear Creek, we see indications of the presence of a major scale gold-silver-base metal system. We will work towards synthesizing all data available to derive a sound geologic model that will guide the next round of drilling on the property.†said Phil Anderson, Canadian Shield’s VP Exploration.
Regards,
George
