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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 cigarettemanon Nov 30, 2012 10:18am
273 Views
Post# 20665677

Croteau

Croteau

I think sup had very little input on targets RR selected to drill on TPK. Not to mention the 3 years of options RR had to subscribe to, may also be an underling issue.  They intended to drill crying boy lake last winter, but apparently the warm winter and poor ice conditions wouldn't allow it. Now that we are spending our money, they want to have more involvement in drill selection.  Crying boy lake, etc.  Which of course you need winter freezing conditions to drill the desired locations. A million of our money gets us 3 million in drilling, which will get us a 20-30 hole drill program.  With Croteau, first of all, its 100%, ours.  So, as a company where do you get the biggest bang for your buck.  I think they have done a very good job of escalating this project over the last year.  Even you have to admit their early drilling results are very impressive. 77 g/t over 5 meters is significant.  I will remain optomistic, through the next round of drilling on both projects this winter, if they fumble the ball, then I may change my opinion.   Don't forget this is end of the year tax loss selling season and alot of stupid things happen at this time of the year. For that reason, I continue to pick away.

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