StoneShield Capital Corp.
TSX VENTURE : STS
FRANKFURT : 5XS

StoneShield Capital Corp.

April 03, 2012 03:01 ET

StoneShield Samples up to 5.45 g/t Gold, Outlines 4km Long Mineralized Zone at Goldtooth

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 3, 2012) - StoneShield Capital Corp. (TSX VENTURE:STS)(FRANKFURT:5XS) ("StoneShield" or the "Company") is pleased to provide shareholders with recent positive sampling results from the Company's Goldtooth project, Inyo County, CA. The project bookends the Briggs gold mine currently operated by Atna Resources and consists of two separate claim blocks, the Jackpot claim block directly to the north and the South Goldtooth claim block directly to the south of the mine property.

A second round of surface sampling was completed in early February to continue assessment of Stoneshield's Goldtooth project. A total of 121 samples were collected, mostly from the Jackpot claim block, to follow up on previously identified zones of gold mineralization (please see our February 2, 2012 new release). The results of this second phase of surface sampling are very encouraging, with approximately half of the samples containing strongly anomalous gold from 50 ppb up to 5.45 g/t gold.

A 0.5 kilometer wide by 4 kilometer long zone of alteration, faulting and gold mineralization is present at Jackpot, focused along the district wide Goldtooth Fault feeder structure. Zones of better-developed mineralization range up to 100 meters by 400 meters in size and are often centered around low angle structures secondary to the Goldtooth Fault. This geologic environment is very similar to that at the Briggs mine. In addition to the widespread presence of the Briggs Mine Formation, the host rock for most gold deposits in the district, large bodies of subvolcanic intrusive rocks also host gold mineralization at Jackpot. This intrusive event is believed to be the drivers of the gold mineralizing system throughout the Briggs district.

Kris Kottmeier, President of Stoneshield Capital, said, "We are very excited about the potential at both Jackpot and South Goldtooth. We believe our project represents an excellent opportunity to discover additional economic gold deposits in the Briggs district, both underground mineable and open pit mineable."

StoneShield recently announced its exploration plans over the next year for the project. In the Jackpot claim block, Company geologists have recommended a 30 kilometer Ground Magnetic Survey over the northern block to be performed in conjunction with a 30 kilometer Gradient Array Induced Polarization program to outline new drill targets. A minimum 4,500 meters of reverse circulation drilling is planned to test for gold mineralization at depth in the northern block. Prior drilling in the southern portion of the Jackpot claim block saw half of the historic drill holes intercept significant gold mineralization, including 20 meters of 2.33 g/t gold, 15 meters of 1.6 g/t gold and 24 meters of 1.16 g/t gold and 1.5 meters of 18.4 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. Stoneshield's claims are within 400 meters of the existing Goldtooth open pit and within 150 meters of Atna's proposed pit expansion. Currently, 18 drill holes are permitted in our South Goldtooth block. A 3,000 meter reverse circulation drill program is anticipated to begin in the fall of 2012. A 9.5 kilometer Dipole-Dipole Induced Polarization program is planned at South Goldtooth to help plan a second phase of drilling.

This news release has been prepared on behalf of the Company's board of directors, who accept responsibility for its contents. Technical information has been reviewed and approved by Peter J. Butterfield, P. Geo, a Qualified Person as defined by National Instrument 43-101.

StoneShield is a publicly traded exploration company focused on the discovery of high-value precious metals deposits in North America. The Company's experienced management team boasts multiple discoveries, and brings over 145 years of combined experience in the mining and exploration sector. Please visit the Company's web site address at www.stoneshieldcapital.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF STONESHIELD CAPITAL CORP.

Kris Kottmeier, President/CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • StoneShield Capital Corp.
    Benjamin Curry
    Investor Relations
    (604) 689-2881 or Toll Free at 1-877-689-2881
    www.stoneshieldcapital.com