Chronicle Journal: Finance

Northern Superior to Initiate up to 10,000 Meter Phase 2 Core Drill Program at Lac Surprise in Early February & Announces Additional Phase 1 Program Assays

SUDBURY, ON / ACCESSWIRE / January 21, 2021 / Northern Superior Resources ("Northern Superior" or the "Company")(TSXV:SUP)(OCTQB:NSUPF) is pleased to announce that it intends to advance its Lac Surprise drill program in early February, with an up to 24 hole, 10,000 meter ("m") (C$2M) Phase 2 core drill program on its 100% owned Lac Surprise property, Québec. All logistics to support this program are in place with hole spotting and drill pad clearing anticipated to be completed by the third week of January (Figure 1). The decision to initiate the Phase 2 program, soon after completing the Phase 1 program was driven by the significant increase in our understanding of the Lac Surprise Project, its multiple high priority targets defined and the newly discovered "Falcon Gold Zone", associated with Target Area 1 which recorded 1.55g/t gold equivalent(1) ("AuEq") over 44.9m, including 3.82g/t AuEq over 15m from LCS19-005ext (see Northern Superior press release December 22, 2020) and 1.07 g/t AuEq over 35.5m with a high-grade interval of 8.22 g/t AuEq over 2.6m from LCS20-13 (see Northern Superior press release November 5, 2020). The Falcon Gold Zone is located 2.4 kilometers ("kms") west of IAMGOLD / Vanstar Nelligan project which hosts an inferred gold resource of 3.2MM at 1.02 g/t Au*.

The Phase 2 program also plans to test its highly prospective "Target 3" which lies 5.6km on strike with the Falcon Gold Zone and 7km on strike from the Nelligan gold deposit. Follow up drilling in its Target 1b and 2 areas along with other significant regional targets on the company's large land (15,178.5 hectares) package are also contemplated in this Phase 2 drill program. Identified initially during target delineation work, pre-Phase 1 drilling, Target 3 has similar attributes to Target 1 which yielded the Falcon Gold Zone discovered during the Phase 1 drill program, Target 3 has a compelling geophysical signature and is similar in size to the neighboring IAMGold / Vanstar JV's Nelligan gold deposit (Figure 2).

Northern Superior is also pleased to announce five of six of the final six assays reported for the Phase 1 drill program. These five holes were drilled outside the "Falcon Gold Zone" and were within Target Area 1 (2 holes), 1b (2 holes) and 2 (1 hole). All holes intersected gold mineralization, providing important information on the geology, mineralization controls and vectoring for our Phase 2 drill program. The highest-grade intersection was 3.0m of 2.9 g/t Au and 16.6 g/t Ag or 3.14 g/t AuEq from hole LCS20-19 in Target 1 (Figures 1 and 3). Significant thicknesses of mineralized intersections were recorded in hole LCS20-21, 18.0m at 0.33g/t AuEq from surface, associated with a geomagnetic unconformity with a strike length of 285m (Figure 4) and in hole LCS20-17 recording 21.0m at 0.16 g/t AuEq in Target 1, north of the Falcon Gold Zone (Figures 1 and 3).

Dr. T.F. Morris, President and CEO states: "We are very pleased with the results of our Phase 1 program at Lac Surprise, most notably with our major new discovery of the "Falcon Gold Zone" where we feel we are just scratching the surface of its potential. This new discovery coupled with the highly prospective Target 3 and the strong indications from our other regional targets such as the "Northern Trend" which extends from Target 1 to Target 2, shows potential for a very exciting Phase 2 program. With approximately C$3.5M in QC flow through funds available to spend in 2021 this C$2M dollar 10,000m Phase 2 program will be over twice the size of our Phase 1 program and could be expanded significantly beyond 10,000m with additional success."

Phase 2 Drill Program Overview
This Phase 2 core drill program is designed to expand our understanding of the following:

1) Define the lateral and vertical extensions of the "Falcon Gold Zone" (Figure 1)

  1. Currently, this zone's east to west strike length of 200m is determined by holes LCS20-13 (1.07 g/t AuEq over 35.5m with a high-grade interval of 8.22 g/t AuEq over 2.6m) and LCS19-005ext. (1.55g/t AuEq over 44.9m, including 3.82g/t AuEq over 15m).
  2. Westward extension by another 80m west is indicated from assay results, hole LCS20-17. Three zones within this hole contain anomalous gold assays of (0.4g/t AuEq over 7.5m; 0.16 g/t AuEq over 21.0m; 0.33g/t AuEq over 5.5m; (Table 1) all associated with silicified clastic sediments. Interpretation of drill results indicates that the drill collar of this hole was placed too far north of the Falcon Gold Zone, resulting in the drill hole passing through the zone's outer shell.
  3. The previously defined Épervier Gold Zone (highlighted by LCS19-08 1.54 g/t Au over 15.15m including 10.80 g/t Au over 0.66m), strike length defined from the 2019 program of 750m (see Northern Superior press release December 22, 2019) was extended in the 2020 drill program by an additional 150m: making the total strike length of this zone approximately 900m. As the Épervier Gold Zone is related to the Falcon Gold Zone in that they both are aligned parallel to, and are on strike with one another, this would indicate that the Falcon Gold Zone would have a similar strike length of at least 900m.
  4. The system is open at depth, the deepest that the Falcon Gold Zone was intersected is at a true vertical depth of 200-210m. This Phase 2 drill program is designed to define both the strike and vertical extent of the Falcon Gold Zone.

The Falcon Gold Zone will initially receive the majority of drilling in this Phase 2 of the program, and will be the first target tested, as we strive to rapidly expand our knowledge of the dimensions of this important discovery, by testing its' strike, width and depth.

Aside from the obvious focus associated with Target 1, there are other highly prospective opportunities currently being considered. These include, in order of priority:

2) Target Area 3 (Figure 2):

  1. Target Area 3 was identified as a compelling target prior to the initiation of the Phase I drill program. The only reason it was not drilled in Phase 1 was due to time constraints. Since then, additional research on this target, including additional geophysical modelling and a more thorough review of regional historic work, has dramatically increased the size and scope of the opportunity and has made it an even more compelling target and it will be drilled during Phase 2.
  2. The recent geophysical inversion modeling suggests the presence of an intrusion (potential heat source) with characteristics similar to those defined within the Nelligan gold deposit, leading to the discovery of the Falcon Gold Zone, Target Area 1. These include:
    • A large, deeply rooted intrusion;
    • Associated with 60° faults; and
    • Associated large areas magnetic lows suggesting areas of silicification and alteration leading to magnetic destruction. There are three such large areas identified to the southeast (~4.0 x 1.0kms), northeast (~2.0 x 2.0kms) and northwest (~1.0km x 1.0km) of the proposed intrusion. All lie within the boundaries of the Lac Surprise property.

As such, Target Area 3 represents an important exploration target and a revised drill program involving several more holes than originally planned is currently being devised.

3) The "North Trend", Target Area 1 to Target Area 2, Roi Gold Showing (Figure 3).

  1. Our hypothesis of gold-bearing fluids moving through Target 1 via the North "Trend" towards Target 2 has proven correct as evidenced by the intersection of multiple gold-bearing sections within drill holes LCS20-15, 16, 18, 19 and 22 (see Northern Superior press release December 22, 2020 for summary of gold intersections for holes 15, 16, 18; Table 1, hole LCS20-17; Table 2, hole LCS20-19; Table 3, hole LCS20-22). Emphasis regarding the importance of this trend is associated with not only the assay result associated with drill hole LCS20-19 (3.14g/t gold over 3m 800 meters NW of discovery holes LCS20-13, 17 and LCS19-005ext.), but also the grab samples from the Phoenix gold showing (19.9g/t gold). Thus, the relationship between the Falcon Gold Zone and this Northern Trend is of strong interest to the company going forward.
  2. Similar to the discovery of the Falcon Zone this "North Trend" has a similar interplay of Clastic and Volcaniclastic rocks with the gold bearing zones being in the clastic sediments.
  3. The key to understanding and unlocking the economic opportunity associated with the "Northern Trend" is identifying structural controls within the trend that might trigger the precipitation and concentration of gold in economic quantities.
  4. Northern Superior is still waiting on assay results from LCS20-23.

4) Target Area 1b (Figure 4).

  1. The top of hole LCS20-21 assayed an anomalous gold value of 0.33g/t AuEq over 18.0m (Table 4), associated with a moderately biotized greywacke with 1-3% disseminated pyrite;
  2. LCS20-21 was collared in this unit so the southwest extent of this unit is unknown. This unit is associated with the contact of strong northeast to southwest geophysical trend. This trend marks a highly favorable exploration target with a strike length of 285m;
  3. Hole LCS20-20 did not return any significant gold assays;
  4. Prior to any further drilling, however, additional work on the geophysical interpretation of the target is required to further refine future drill collar locations.

Qualified Person
Michel Leblanc is the Qualified Person ("QP"), within the meaning of National Instrument 43-101, who is overseeing the execution of the drill program. Mr. Leblanc has reviewed and approved information disclosed in this press release.

* Reference for IAMGOLD/Vanstar's Nelligan 3.2MM Inferred Gold Resource: "Carrier, Alain (M.Sc., P.Geo); Nadeau-Benoit, Vincent (P.Geo); Fauvre, Stéphane (PhD., P.Geo). October 22, 2019. NI 43-101 Technical Report and Initial Resource Estimate for the Nelligan Project, Québec, Canada."

(1) Gold equivalent grades calculated based on a 75 Au:Ag factor ratio.

Cautionary Note to Readers: Readers are reminded that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.

About Northern Superior Resources Inc.
The Lac Surprise gold property is one of three key mineral properties 100% owned by Northern Superior Resources. The other two properties (TPK and Croteau Est) also represent regional scale exploration opportunities (see Northern Superior Corporate Presentation, www.nsuperior.com).

Northern Superior's TPK and Croteau Est Projects
The TPK property
is located in northwestern Ontario and is large (approximately 20kms x 30kms), containing two regional scale mineralized systems. The first system is primarily gold bearing, stretching 35kms across the Big Dam and New Growth areas of the property. The Big Dam area contains the largest gold grain-in-till dispersal aprons in North America stretching 6kms by 11kms, with as many as 1262 gold grains, most of which are pristine (92%). Embedded within this apron are numerous high-grade gold mineralized boulders assaying as high as 94g/t gold. A discovery hole of 25.87g/t gold over 13.45m has already been intersected. The second system within the Annex area of the property is defined by a gold grain-in-till dispersal corridor 3.5kms x 13.5kms wide, with gold grain counts as high as 1263 gold grains, mostly pristine in shape. Embedded within this corridor are boulders assaying as high as 727g/t gold, 111g/t silver and 4.05% copper.

A drill program for the Big Dam and Annex areas of the property has been developed and is ready to be initiated as soon as First Nations concerns associated with COVID-19 have been addressed to their satisfaction. These programs are fully funded with a budget of $3.7 million. This property is 100% owned by Northern Superior and is operated under an Early Exploration Benefits Agreement with Neskantaga First Nation.

The Croteau Est property is located within the Chapais-Chibougamau gold camp of Québec and is large (approximately 30kms x 15kms). The property has a 43-101 compliant inferred gold resource defined and several gold showings discovered across the property. The inferred gold resource is defined as consisting of 11.6 million tonnes, grading 1.7g/t gold, yielding 640,000 ounces of gold. Assays associated with this deposit includes intersections of; 11.06g/t gold over 9.10m including 43.75g/t gold over 2.00m, 61.24g/t gold over 5.95m including 705g/t gold over 0.5 m, 7.50g/t gold over 7.95m including 56.40g/t gold over 1.00m, 1.99g/t gold over 34.65m including 9.46g/t gold over 2m). The resource is defined from only 64, shallow holes, most of which are only 350m deep. The system is open along strike in both directions and at depth. A core drill program and budget has been set for this project to expand the resource and test several of the regional showings (see "Technical Report on the Croteau Est Gold Project, Québec, October 12, 2015, Mineral Resource Estimate", by Drabble, M., Glacken, I, Cervoj, K and Morgan, R.).

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP, and the OTCQB Venture Market under the symbol NSUPF.

For further information, please refer to Northern Superior news available on the Company's website and on SEDAR, or contact:
Thomas F. Morris P.Geo., PhD., FGAC
President and CEO
Tel: (705) 525 ‐0992
Fax: (705) 525 ‐7701
Email: info@nsuperior.com

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.

Figures and Tables:


Figure 1. Location of proposed drill holes (red traces and collars) for Northern Superior's Phase 2 drill program.
 

Figure 2. Target Area 3, surface expression. Note the three deep blue areas representing the large areas of potential alteration zones in addition to the large intrusive complex (potential heat source) and structural environment.
 


Figure 3. Relationship between Target Areas 1, 1b and 2. Numbered collars Target Area 1 and 2 relate to 2020 drill holes LCS20-15, 20-19, 20-21 and 20-22.
 

Figure 4. LCS20-21 collared in material with gold assay 0.33g/t AuEq over 18.0m, making the contact between the magnetically high area to the southeast and magnetically low area associated with Target Area 1b a highly prospective exploration zone, representing a strike length of 285m.

 


Table 1. Assay summary, Hole LCS20-17, Target Area 1.
 


Table 2. Assay summary, Hole LCS20-19, Target Area 1.
 


Table 3. Assay summary, Hole LCS20-22, Target 2.
 


Table 4. Assay summary, Hole LCS20-21, Target Area 1b.

SOURCE: Northern Superior Resources Inc.



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