Greenshield intersects significant gold

Greenshield Resources (GRE-V) has intersected significant gold at the "A" zone in Newton township, about 100 km southwest of Timmins, Ont.

A drill program consisting of 23 holes totaling 961 metres tested the "A" zone at shallow depth over a strike length of about 100 metres. Holes 16, 17 and 18, fanned holes from the same drill setup, intersected 4.24 grams gold over 3.65 metres, 4.39 grams gold over 1.95 metres and 4.48 grams gold per tonne over two metres. These three holes are the most easterly of the fanned holes.

Three holes were drilled at each of seven setups spaced about 10 metres apart. Holes were drilled at 45, 60 and 70. Two holes were drilled about 20 metres along strike and on the outer borders of the fanned holes. All holes intersected an interval of 3-4 metres with anomalous gold values.

The northeast trending "A" zone is characterised by strongly carbonatized and silicified mafic volcanic rock with finely disseminated pyrite. Last year, several grab samples taken at this site resulted in assays in the 5-10-gram gold range (and up to a high of 40 grams gold per tonne). In addition, thirteen channel samples were taken over a 35-metre strike length; eight of these channels graded from 3.45-7.16 grams gold over 1-2 metres.

Drilling is commencing on the West Extension and Line 23 zones. The West Extension zone is about 2 km south of the "A" zone and Line 23 is about 425 metres west of the West extension.

Last year two shallow holes failed to intersect significant mineralization at the Line 23 zone where grab samples assayed up to 34 grams gold per tonne. Recent interpretation suggests that faulting displaced the zone and further drilling is warranted.

The West extension zone is associated with faulted quartz feldspar porphyry sills intersecting deformed and altered mafic volcanic rock. The zone has been traced over a strike length of about one km and it is still open at both ends.

Greenshield has an option to earn a 70% interest in a 65 sq. km area within Coppell and Newton townships held by Placer Dome (PDG-T).


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