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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 TequilaRose44on Dec 09, 2019 12:04pm
64 Views
Post# 30436074

news release

news releaseNORTHERN SUPERIOR DEFINES TWO NEW GOLD-BEARING SYSTEMS AT LAC SURPRISE GOLD PROPERTY Sudbury, Ontario (December 9, 2019) Northern Superior Resources (“Northern Superior” or the “Company”) is pleased to announce that the Company has defined two new gold-bearing systems on its 100% owned Lac Superior gold property in Qubec. HIGHLIGHTS: • pervier Gold System - the extension of the Renard gold trend from the IAMGOLD Corporation (“IAMGOLD”)/Vanstar Mining Resources Inc. (“Vanstar”), Nelligan property; and • Roi System - a second system further to the west pervier Gold System: 1. Intersection of 1.54 g/t Au over 15.15m (including 10.80 g/t Au over 0.66m): compliments widths and grades reported from intersections associated with the Renard gold deposit, 5km northeast within the adjoining Nelligan gold property (see Vanstar PowerPoint presentation, May 2019); 2. Intersected ~750m strike length (system remains open) of gold-bearing material consisting of the same package of mineralized rocks described for, and believed to extend from, the Renard gold deposit (see Figure 1): hydrothermally altered (sericite + silicic +/-fuchsite) and veined volcaniclastic and sedimentary packages, hosting disseminations and lenses of pyrite at up to 5 volume %); 3. A positive correlation has been noted between gold and similar pathfinder trace elements as observed at the neighbouring Nelligan Deposit (e.g., Molybdenum); 4. Intersected host volcaniclastic-metasedimentary assemblage is 50-100m wide; and 5. Extent of system is undefined: It is unknown whether the system is offset or folds onto itself (see Figure 1). Dr. T.F. Morris, President and CEO states: “Defining a ~750m extension of the Renard gold trend onto the Lac Surprise property from a limited drill program is an excellent start. The system remains open over a significant area of the property allowing for the opportunity to intersect additional gold-bearing material with widths and gold grades similar to those associated with the Nelligan deposit. There is clearly justification for additional drilling to pursue this opportunity.” Northern Superior Resources Press Release -December 9, 2019 2 Roi Gold System: 1. The related structure defined by the geophysical data, indicates that this NNE trending structure clearly extends into the E-W trending Geurcherville Deformation Zone (GDZ), creating potential zones favorable to dilatation, more concentrated fluid flow and therefore opportunity for the precipitation of meaningful concentration of gold from solution; 2. Structure can be traced at least 6 km from the magnetic data (open along strike, both directions) and corresponds to a distinct, associated gold grain-in-till anomaly; 3. Intersected structure consists of ~50m of mineralized material comprised of a silicified, weakly brecciated, brittle, hematite-carbonate altered fault breccia; and 4. Wide value of anomalous gold values (including 0.12 g/t Au over 24.60m; Table 2) with elevated Te, S, Bi and Ag (up to 1.06 g/t Ag). Dr. T.F. Morris, President and CEO further states: “Multiple, geophysical and gold grain defined targets to the north and south of the discovery hole (LCS-19-12) now warrant follow up drilling in the next phase of exploration on this exciting new gold-bearing structure.” Figure 1: Location, pervier and Roi gold systems, Lac Surprise gold property Northern Superior Resources Press Release -December 9, 2019 3 Table 1: Summary, Key Intersections, pervier Gold System Drill Hole From (m) To (m) Width (m) Au (g/t) Incl. Au (g/t) Width (m) LCS-19-005 104.00 109.00 5.00 0.06 0.07 1.00 203.83 228.50 24.67 0.05 0.21 1.00 LCS-19-007 178.00 185.00 7.00 0.05 0.11 1.00 LCS-19-008 252.00 262.00 10.00 0.05 0.08 1.00 277.00 292.15 15.15 1.54 10.80 0.60 292.45 296.00 3.55 0.17 0.30 1.00 299.00 310.00 11.00 0.10 0.18 1.00 LCS-19-010 162.00 175.00 13.00 0.05 0.10 1.00 275.00 279.00 4.00 0.12 0.16 1.00 BP-17-04† 181.55 185.00 3.15 0.23 1.28 0.43 233.00 239.34 6.34 1.12 4.50 0.73 BP-17-05* 61.00 102.50 41.50 0.25 2.21 0.76 126.75 130.00 3.25 0.31 0.54 1.05 †Historic assay results (Kilbourne & Armstrong 2017, internal document) * Historic assay results plus 2019 infill sampling Table 2: Summary, Key Intersections, Roi Gold System Drill Hole From (m) To (m) Width (m) Au (g/t) Incl. Au (g/t) Width (m) LCS-19-012 74.00 79.30 5.30 0.06 0.12 1.00 108.00 132.60 24.60 0.12 0.28 1.00
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