SUDBURY, ON / ACCESSWIRE / July 16, 2019 / Northern Superior Resources Inc. (“Northern Superior” or the “Company”) (TSXV: SUP; OCTQB: NSUPF), is pleased to announce that it has completed the previously announced drone supported, airborne magnetic survey over its 100% owned Lac Surprise property, Québec.
Results from this survey will be integrated into the current geoscientific data base. The focus will be on the northern part of the Property, to further demonstrate the:
1) westward extension of IAMGOLD Corporation’s (“IAMGOLD”) gold deposit defined on their Nelligan Property, tied onto the northeast side of the Lac Surprise property (see Figure 1) (see IAMGOLD press release, May 30, 2019); and
2) potential for an economic gold deposit on the Lac Surprise property. Vanstar Mining Resources Inc. (“Vanstar”), IAMGOLD’s partner on the project, describes the gold deposit on the Nelligan property as part of a “vast auriferous system offering a potential of multi-million gold ounces”, (Vanstar PowerPoint Presentation, May 2019).
Northern Superior has already presented evidence that this “vast auriferous system” likely extends west onto the Lac Surprise property, by identifying and discovering:
1) Lithologies associated with the Nelligan gold deposit extending west onto the Lac Surprise property;
2) Gold grain and gold geochemical-in-till dispersal trains defined emanating from this lithological package on the Lac Surprise property (seeNorthern Superior Resources press release, January 27, 2014);
3) Gold showings discovered within this same lithological package, with grab samples collected from the Black Phoenix gold showing assaying as high as 19.9 g/t gold (see Northern Superior Resources press release, February 6, 2019);
4) Four west to east anomalous geophysical trends identified within this lithological package, defined from an induced polarization and magnetic survey completed in 2016 (seeNorthern Superior press release, March 9, 2017); and
5) Establishing that at least one of these anomalous geophysical trends is gold bearing, confirming that a hydrothermal gold bearingsystem(s)occurs within this part of the property: defined by a five core drill hole (1185 metre) program completed in 2016 (seeNorthern Superior press release, March 9, 2017).
Dr. T.F. Morris, President and CEO of Northern Superior states: “Northern Superior is extremely pleased with the opportunity to advance our understanding of gold mineralization and demonstrate the potential for an economic deposit of gold on the Lac Surprise property. Gold mineral targets within the northern part of the Lac Surprise property will be selected from a review of the geophysical information derived from this drone-supported survey, combined with all other scientific information previously acquired for this part of the property. It is anticipated that these targets will be tested by a core drilling program beginning in the fall of this year.”
Dr. Morris further states: “The Nelligan gold deposit is associated with the northern contact between volcanic rocks to the north and sedimentary rocks to the south. Note that not only does this contact extend across the northern part of the Lac Surprise property, but so does the southern contact (sediments to the north, volcanic to the south). The Fox Showings were discovered along this contact, indicating the potential for a second target for additional gold mineralization associated with this lithological package within the confines of the northern part of the Lac Surprise property. This Property becomes even more compelling with the numerous showings and gold bearing shear zones identified within the southern part of the Property (see Northern Superior press releases, February 17 and October 5, 2015).
Lac Surprise Property
The Lac Surprise property is 100% owned by Northern Superior. This property is strategically situated within a very active part of the Chapais-Chibougamau exploration camp. This point is emphasized by IAMGOLD’s disclosed core drilling results from their Nelligan gold JV project (Figure 1; see IAMGOLD press release, May 30, 2019). The Nelligan property adjoins the northeastern side of Northern Superior’s Lac Surprise property.Several showings and gold-bearing structures have already been defined on the property (Figure 2; see Northern Superior press release, February 6, 2019).
Figure 1.Location of the Lac Surprise property relative to the Nelligan gold property. Gold grain and gold geochemical dispersal trains, location of the Black Phoenix and Fox showings discovered on the Lac Surprise property adjacent to the Nelligan property are also illustrated.
Figure 2.Location, various showings, Lac Surprise property.
Jonathan O’Callaghan P.Geo., is a qualified person (“QP”) within the meaning of National Instrument 43-101 for the Lac Surprise property. Mr. O’Callaghan has reviewed and approved the information disclosed in this press release.
About Northern Superior Resources Inc.
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. The Company is currently focused on initiating and executing core drill programs on its 100% owned TPK (northwestern Ontario) and Lac Surprise (Québec) properties. Northern Superior is currently looking to option out its other 100% owned mineral properties in Québec and northwestern Ontario.
For further information please visit the Company’s website at www.nsuperior.com or contact:
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.
SOURCE: Northern Superior Resources Inc.
View source version on accesswire.com: