VANCOUVER,
April 30, 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 exploration
activities at 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.
The Company is in the process of modifying an
existing Plan of Operations (the "Plan") permit for drilling in the
South Goldtooth claim block. This drill permit was originally
issued in 2004 by the Bureau of Land Management ("BLM").
Modifications to the Plan include adding 12 new holes in the
northernmost portion of the claim block directly south of the
Briggs Gold Mine. Some of these new holes are as close as 150
meters to the final perimeter of the Briggs Goldtooth Pit, which is
currently under expansion. Some previously permitted holes
are being moved to existing roads or logistically friendlier
locations to minimize disturbance, and five previously planned
holes have been removed from the drill plan due to poor access. The
total number of holes will be increased from 18 to 25. Other
modifications include the ability to use of a track-mounted drill
rigs in addition to a buggy-mounted drill rig and the ability to
drill with mud. The modified 25 hole program will have a
disturbance of less than one acre.
This modified drill program has been recently
staked and flagged in the field by Stoneshield's Chief Geologist in
preparation for archaeological and wildlife/botanical clearance
surveys to be performed during May. Proposals for these
surveys are currently being evaluated and contractors will be
selected by the end of April. The field surveys and reports
are expected to be finalized by the end of May 2012 and will be submitted to the BLM in
anticipation of a fall drill program at Goldtooth.
StoneShield also recently engaged Rio Rico Land
Survey to stake an additional 31 claims at the Jackpot claim block
to the north of the Briggs Gold Mine. The staking crew is
currently in the field completing the work. The purpose of
this new staking is a) to add ground in the northern Jackpot
boundary in an area of known mineralization outlined by surface
rock samples; b) to add ground along the main, mineralizing
Goldtooth fault along the eastern boundary; and c) to fill gaps
between the southern boundary and competitor's claims to the south
to cover portions of the Goldtooth fault, altered areas and ground
near the old Goldbug mine which has been in small scale production
from 1893 to the present.
StoneShield previously announced its exploration
plans over the next year for the Goldtooth 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. A minimum 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 .
For further information contact
ON BEHALF OF THE BOARD OF DIRECTORS
OF
STONESHIELD CAPITAL CORP.
"Kris Kottmeier"
_______________________
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.
SOURCE Stoneshield Capital Corp.
