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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 Nov 11, 2009 3:48pm
640 Views
Post# 16476614

Additional Historical Gold Assay Results

Additional Historical Gold Assay Results
Northern Superior Resources Reports Additional Historical Gold Assay Results, Prepares Drill Targets, Wachigabau Gold Property, Quebec.
Sudbury, Ontario (November 11, 2009) Northern Superior Resources Inc. (“ Northern Superior” or the “Company”) has identified additional drill targets for the 2010 drill program on the Wachigabau gold property. Recent research has identified an area in the northwest part of the property that has not been explored since the early 1960’s. High gold assay values from grab and channel samples, reported in assessment work reports and maps 1959, outline an area with exceptional potential for gold mineralization (Table 1).
Sample
Gold
Value @
Width
No.
(oz/ ton)
$35.00/oz
(inches)
C-3441
80.85
$2,829.75
4
C-3442
3.52
$123.20
36
C-3443
0.26
$9.10
8
C-3444
4.09
$143.15
Grab
C-3445
138.03
$4,831.05
Grab
Table 1. Reported gold assay values from the northwest part of Northern Superior Resources Inc. Wachigabau gold property. Table taken from: “Preliminary Report on L’Esperance Township Option of Opemisca Explorers Limited, W. Nowers Ashbury M.Sc., P.Eng, (1959), MRNF file GM09736.”
Dr. T.F. Morris, President and CEO states: “The Company has recently found the historical trenches in the field and cut a grid at 50 m line spacing over the area. A ground magnetic survey has been completed and the grid is currently being mapped. With the recent receipt of government permits, a backhoe has been contracted to clean out the old trenches for mapping and channel sampling. These trenches are located about 4.5 km west, along strike with the structures hosting gold mineralization intersected by drilling of up to 10.12 g/t Au over 1.0m in the north-central portion of the Property (see press release June 17th, 2009). The presence ofgold mineralization along a >4.5 km long structure indicates that the Wachigabau gold property has a high potential to host significant gold mineralization and we look forward to drilling targets in both areas.”
The Company previously reported that this property is strategically located between the Lac Shortt gold mine to the northeast and the Coniagas zinc, lead and silver mine and BachelorLake gold mine and mill complex to the southwest. All these mines are associated with the Lake Opiwica-Gwillim Fault system. Mineralization known to occur on the Wachigabau property includes:
1) lode gold associated with quartz veining with values in drill hole intersections up to 5.39g/t Au over 2.4m, 10.3 g/t Au over 0.3 m and 10.12 g/t Au over 1.0m;
2) Cu-Au remobilized along continuous fracture systems up to 2.62%Cu, 14g/t Ag and 3.14g/t Au over a 3.25 m drill hole intersection; and
3) the potential for volcanogenic Cu-Z massive sulphide mineralization.
In addition, re-sampling and geochemical analysis of drill core from previous drill programs completed on the Property by Northern Superior returned anomalous gold values of up to 550 ppb Au from a monzonitic dyke and 444 ppb Pt, 412 ppb Pd and 186 ppb Au from a gabbroic dyke (see press release June 17th, 2009).
The Wachigabau project is an option and joint venture agreement with Matamec Explorations Inc. (“Matamec”). Northern Superior is earning-in on its 50% of all mineral rights on the property, having already paid $25,000 cash and issued 100,000 shares and 100,000 share purchase warrants to Matamec under the agreement. In addition, Northern Superior has spent $75,000 of the $500,000 it is committed to spend on the property over three years. Once Northern Superior has exercised its option, the Company and Matamec will form a 50-50 joint venture for all commodities on the property. IAMGOLD retains certain back-in rights on some of the claims. Northern Superior is the operator of the project.
Donald Boucher (P.Geo.) is Northern Superior Resources Qualified Person for this project. As QP, he has prepared or supervised the preparation of the scientific or technical information for the Wachigabau property and has verified the data disclosed in this press release.
Withdrawal of Shareholder Rights Plan
The Company has determined at this time not to pursue the Shareholder Rights Plan announced June 12, 2009.
About Northern Superior
Northern Superior Resources Inc. is a junior exploration company whose focus is exploring for gold on the SuperiorProvince of the Canadian Shield. The Company is a reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol SUP.
For further information contact:
Thomas F. Morris
President and CEO
Tel: (705) 525 -0992
Fax: (705) 525- 7701
e-mail: info@nsuperior.ca
www.nsuperior.com
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