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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 16, 2017 10:19am
137 Views
Post# 26249179

Magnetic geophysical survey Wapistan property

Magnetic geophysical survey Wapistan property

SUDBURY, Ontario, May 16, 2017 (GLOBE NEWSWIRE) -- Northern Superior Resources Inc. (“Northern Superior” or the “Company”)(TSXV:SUP), is pleased to announce the completion of a 934 line-km helicopter-borne magnetic geophysical survey over its 100% owned Wapistan property, located in the James Bay Lowlands, Qubec.

Dr. T.F. Morris, President and CEO of Northern Superior states: “The Wapistan property is situated within an emerging and important mineral exploration region in the James Bay Lowlands, Qubec. The data derived from the airborne geophysical program conducted during April 2017 is critical as a first step in advancing our understanding of the geology of the property, assisting in:

  1. understanding the relationship between the 11 various showings discovered thus far on the property (see Figure 1, Table 1) to local bedrock structure and lithology;
  2. identification of highly prospective areas for the discovery of additional mineralization; and
  3. planning future exploration programs to capitalize on highly prospective areas of mineralization identified from the geophysical data and/or data review.”

Covering approximately 32 km strike length of a major structure developed in an Archean-aged volcanic-sedimentary package, the Wapistan mineral property is district in scale, consisting of 207 claims or approximately 10,408 hectares. These volcanic-sedimentary rocks within the Wapistan property host multiple gold and other precious metal occurrences (Figure 1, Table 1) in rocks similar to those associated with the Roberto Deposit (Goldcorp Inc.) and the Eau Claire Gold Deposit (Eastmain Resources Inc.), also located within this emerging mineral exploration and mining region.

An infographic accompanying this release is available at 
https://www.globenewswire.com/NewsRoom/AttachmentNg/b72c5161-90b1-4699-849d-fb61e7636096

Table 1. Reported mineral occurrences, Northern Superior’s 100% owned Wapistan property. 
Please refer to Figure 1 for location of the mineral occurrences listed in this Table

             
Showing Location, UTM   Related Sample Publication Publication
Name Easting Westing Zone Assay Values Type Source Number
Three gold-Zone A 317957 5888253 18 15.8 ppm Ag, 450 ppb Au Grab Sigeom GM 57565
        2.5 g/t Ag Grab Sigeom GM 57565
        15.4 g/t Ag, 1.42 g/t Au/ 1m Channel Sigeom GM 63775
Lac Wapistan-Ouest 324958 5892463 18 >1 g/t Au Grab Sigeom GM 49933
        1.4 g/t Au Grab Sigeom GM 50181
Lac Wapistan 326576 5892416 18 1,8% Cu, 0.31 g/t Au Grab Sigeom GM 49086
Poplar 335330 5896054 18 1850 ppm Cu, 752 ppm Ni, 5.6 g/t Ag Grab Sigeom GM 57920
        5.2 g/t Ag / 0.3m Chip Sigeom GM 57920
        4.9 g/t Ag/0.6m incl. 5.5 g/t Ag/0.3m Chip Sigeom GM 57920
        5.2 g/t Ag/ 1.5m incl. 7 g/t Ag/0.3m Chip Sigeom GM 57920
        600ppm Cu, 500ppm Pb, 230 ppm Zn, 316ppm Ni, 7.2 g/t Ag Grab Sigeom GM 57920
        720ppm Cu, 600ppm Pb, 269ppm Zn, 760ppm Ni, 6.6 g/t Ag Grab Sigeom GM 57920
Know Bull 340126 5898841 18 8260 ppm Cu Grab Sigeom GM 59618
              GM 59625
Anomalie 3-40 341569 5901741 18 5.87% Zn, 0.55% Pb, 21.26 g/t Ag, 1.03 g/t Au / 0.61m Channel Sigeom GM 10200
Lac Shabudowan 342361 5905245 18 7.19% Cu, 15.4 g/t Ag / 3.05m Chip Sigeom GM 10200
Lac Atikamakuch-571 343224 5910027 18 1.5 g/t Au Grab Sigeom GM 55997
Lac Atikamakuch-588 343891 5910845 18 2.3 g/t Au Grab Sigeom GM 55997
        350 ppb Au/ 1.4 m Channel Sigeom GM 55998
        2382 ppb Au ( 5kg of fragments) Grab Sigeom GM 55998
        500 ppb Au / 2m Drilling Sigeom GM 55998
Anomalie 4-26 343285 5912170 18 8.23 g/t Ag Grab Sigeom GM 10200
Lac Atsynia 345768 5911029 18 21.94 g/t Ag Grab Sigeom GM 10200
               

About Northern Superior Resources Inc.

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Qubec, and trades on the TSX Venture Exchange under the symbol SUP. The Company is currently focused on exploring its 100% owned Croteau Est (Qubec) and Ti-pahaa-kaa-ning (northwestern Ontario) properties. Northern Superior is currently looking to option out its other 100% owned mineral properties in Qubec and northwestern Ontario. 

The Company’s Qualified Person (“QP”) for the Wapistan property is Tom Morris (P.Geo.). As the QP for the Wapistan property, Dr. Morris has approved information disclosed in this press release.

Cautionary Note Regarding Forward-Looking Statements 
This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Neither the 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.

Figure 1
  Location of reported mineral occurrences on Northern Superior’s 100% owned Wapistan property
 

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