mining analyst named Don Blyth at PCI said this about SUP
Northern Superior (SUP)
• Northern Superior (SUP) announced a new discovery on their Lac Surprise project in Quebec
• Results from the first hole of their fall 2020 drill program returned 35.5m @ 1.02 g/t gold and 3.92 g/t silver (1.07 g/t AuEq) including a high-grade interval of 2.6m @ 7.70 g/t Au and 38.96 g/t Ag (8.22 g/t AuEq)
• The same hole also hit two additional, gold-bearing zones, particularly the lowermost zone that assayed 3.9m @ 2.06 g/t Au and 1.81 g/t Ag (2.08 g/t AuEq)
• The Lac Surprise project is located adjacent (1.4km from westernmost reported drill hole) to the Nelligan project, a JV between IAMGOLD and Vanguard that hosts an inferred resource of 3.2 Moz @ 1.02 g/t
• The mineralization encountered by SUP on this first hole appears to have all of the key characteristics of the Nelligan mineralization
• This is just the first hole; SUP has recently completed its 12th (and final) hole at Lac Surprise, but the lab assay turnaround times have been abysmal, so results are still pending
• We include SUP in our Dirt Dozen favourite explorers primarily for the TPK project in Ontario that we think has the potential to be a multi-Moz mining camp. Unfortunately the planned program there has been held up due to the COVID pandemic and the local First Nations groups not wanting outsiders in the remote region until they feel it is safe. Frustrating, but the project is not going away.
• We considered the Crouteau East project (Quebec), which hosts a 640 Koz resource (@1.7 g/t) to be the next most important project for SUP. Lac Surprise is, well, a surprise! Another project to advance while they are waiting until they can access TPK. Remains on our Dirt Dozen list.