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Northern Superior Resources Inc V.SUP

Alternate Symbol(s):  NSUPF

Northern Superior Resources Inc. is a Canada-based gold exploration company focused on the Chibougamau Camp in Quebec, Canada. The Company has consolidated the land package in the region, with total land holdings exceeding 62,000 hectares (ha). The main properties include Philibert, Lac Surprise, Chevrier and Croteau. It also owns 72% of ONGold Resources Ltd., which is advancing exploration assets in Northern Ontario, including the district scale TPK Project. The Philibert Project is located 9 kilometers (km) from IAMGOLD Corporation’s Nelligan Gold project. It holds a majority stake of 75% in the Philibert Project, with the remaining 25% owned by Mines Royales and Soquem Inc., and retains an option to acquire the full 100% ownership of the project. Chevrier hosts an inferred mineral resource of 652,000 ounces Au and an indicated mineral resource of 260,000 ounces Au. Croteau hosts an inferred mineral resource of 640,000 ounces Au. Lac Surprise hosts the Falcon Zone Discovery.


TSXV:SUP - Post by User

Post by kevoyon May 03, 2007 11:50am
188 Views
Post# 12718957

news

news Vancouver, BC -- Superior Diamonds Inc. (SUP-TSX.V) ("Superior" or the "Company") has intersected 500 metres of kimberlite in the first hole of a two-hole program to collect a large sample of the Morin kimberlite discovered in February 2007 at its 100%-owned Ville Marie project in Québec. Drill hole MORIN 07-01 was collared 50 metres from the eastern boundary of the pipe and drilled vertically. The drill hole intersected 21 metres of fine-grained material and from 21 metres continued in crater facies kimberlite to a depth of 520.5 metres. The drill hole passed into granite wallrock and the hole was completed at 554 metres. Material from this hole will be submitted for petrographic, heavy mineral and micro diamond analyses. The second hole will be collared 50 metres from the western edge of the pipe and will also be drilled vertically. The purpose of the second hole is to test for a second phase of emplacement. This is suggested by a change in kimberlite indicator mineral assemblages recovered from overburden samples collected east to west down-ice from the pipe. Material from this hole will also be submitted for petrographic, heavy mineral and micro diamond analyses. Superior President and CEO John Paterson said the presence of a thick crater facies suggests the main pipe is well preserved. "What we are finding is very unique as the crater facies in most kimberlite pipes in North America has been eroded by glacial activity. The thickness of this facies suggests this system could be of a large tonnage." Superior is also drilling in the Lac Honorat and Lac D'Argent target areas with two exploratory rigs. In both areas, the Company is drilling on a grid pattern in the source areas for kimberlite indicator minerals and kimberlite boulders. About Superior Diamonds Superior Diamonds is a junior Canadian exploration company, primarily searching for diamonds in the under¬explored and highly prospective regions of the Canadian Shield within the provinces of Ontario and Québec. Superior's highly skilled team has defined a number of promising target areas through grass roots exploration, and is now focused on prioritizing these targets for drilling. To diversify risk and balance its portfolio, the Company has adopted a strategy to explore for other commodities where it has a proven track record of expertise, including uranium. The Company is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP.
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