Northern Superior Resources Inc.
Northern Superior Discovers Gold-Bearing Structures, Meets Mandate of Winter Drill Program, TPK Mineral Property, Northwestern Ontario
Wednesday, May 15, 2019 8:00 AM
SUDBURY, ON / ACCESSWIRE / May 15, 2019 / Northern Superior Resources Inc. ("Northern Superior" or the "Company") (TSXV: SUP; OCTQB: NSUPF), is pleased to report the discovery of eight gold-bearing structures and alteration zones, meeting the mandate of this specifically designed program. These discoveries represent a critical and important advance in defining bedrock-hosted high-grade gold mineralization, necessary to yield the unique world class gold grain-in-till dispersal apron and high-grade boulders defined and recovered within the Big Dam area of the Ti-pa-haa-kaa-ning (TPK) property.
Highlights to Date
- Discovery of eight gold-bearing structures and alteration zones ("structures") and one inferred alkali complex plug (Figure 1; Table 1):
- Identified from 15 drill holes or 3,228 metres ("m") of drilling;
- Completed under budget; and
- Within the confines of the Big Dam area (excluding one hole in the New Growth area), representing an area of over eight square kilometres ("km").
- Appreciation of the size of these structures, having the potential to host economic deposits of gold:
- Elevated gold values in widths of up to 20m;
- Mineralized alteration envelops, widths up to 30m; and
- Strike length of up to 2 km, defined by tying mineralized structure to geophysical signature; and
- Defining structure location and orientation:
- May explain why the high-grade intersection of 25.9 g/t Au over 13.5m reported in 2011 (see Northern Superior Resources press release, February 27, 2018) could not be repeated; and
- Provides the required focus necessary to tie the highly anomalous gold grain-in-till values (up to 1263 per 10 kilogram ("kg") till sample) and high-grade boulders (up to 94.21 g/t Au) to point sources within these structures.
Dr. T.F. Morris, President and CEO of Northern Superior, states: "To be clear, the drill core assays reported here do not reflect the anomalous gold grain-in-till values or the high-grade gold boulder assays previously reported for the Big Dam area. It is very important to put into context the size of this core program relative to the target area. With only 15 core drill holes (diameter of each only 5 centimetres ("cm") completed, it is impressive that eight gold-bearing structures and associated alteration zones were intersected in an area of over eight square kilometres. The mandate of this program has been clearly met: to define a regional-scale, bedrock hosted mineralized system(s) capable of hosting economic concentration of gold as indicated by the unique regional scale gold signature observed within the overburden associated with the Big Dam area of the property."
Morris further states: "The results of this program provide an important opportunity to focus the next phase of drilling along the most prospective structure, defined from further analysis of the results. The purpose of that drill program, on this part of the property, will be to identify and define one or more of the gold-bearing zones responsible for yielding the anomalously high gold grain values and high-grade gold-bearing boulders recovered from the surface environment."
As such, Northern Superior will now focus its efforts on:
- Prioritizing and defining the most prospective gold-bearing structure(s) discovered from this program and defining the most prospective target(s) within the prioritized structure(s) for high grade gold;
- Preparing the next phase core drill program for the Big Dam area; and
- Preparing a drill program for the Annex area of the property.
Description, Gold-bearing Structures and Alteration Zones
The alteration zones comprise intervals of de-magnetized monzogranite hosting biotite-carbonate alteration and veining with disseminated pyrite-pyrrhotite. These alteration zones envelope thinner intervals of biotite-carbonate shearing that host disseminated to network-textured pyrrhotite-chalcopyrite-pyrite and rare quartz-carbonate-muscovite veins that host coarse pyrrhotite and chalcopyrite. These alteration zones host relatively consistent, albeit low, gold values across the interval.
Subsequent sporadic sericite shear zones cross cut the biotite carbonate alteration and host disseminated arsenopyrite and pyrite. The elevated gold values encountered in the 2019 drill program tend to be associated with these later arsenopyrite-bearing sericitized shears zones.
Figure 1. Proposed location of structures and alteration zones intersected by the 2019 core drill program. Lateral extension of these features is interpreted from a combination of airborne magnetics and ground IP geophysical data.
Table 1. Summary of gold assay highlights from the 2019 drill hole program.
The TPK Property
This gold-silver-copper property, located in northwestern Ontario, contains two large independent mineralized systems. The first gold-bearing area is contained within the Big Dam and New Growth areas of the property and is a laterally extensive mineralized shear system stretching 35km across the southern portion of the property. One of North America's largest gold grain-in-till dispersal aprons extends from this area. Gold grain anomalies of this scale are amalgamated responses from a cluster of gold-bearing zones, normally indicating a large gold system or district rather than a single gold-bearing zone (see Northern Superior Resources press releases, June 24, 2010, February 27, 2018, and November 26, 2018).
The second gold-bearing systemis contained within the Annex area of the property. This system is defined by a gold grain-in-till dispersal corridor. Mineralized boulders collected from within this corridor returned assay values of up to 727 g/t gold, 111 g/t silver, 4.1% copper (see Northern Superior Resources press release, June 25, 2012); and drill results returned grades of up to 4.62 g/t gold over 5.5m (see Northern Superior Resources press releases, June 25 and 26, 2012).
Historic Exploration Highlights, Big Dam Area Include
Discovery and definition of the gold grain-in-till dispersal apron: originally defined as 6km wide, now defined to extend at least 32km east to west across the TPK property;
Discovery of several gold-bearing boulder dispersal trains returning gold assay values of up to 94.21 g/t gold; and
Discovery of significant gold-bearing mineralization: example from the Target 3 area, coarse-grained visible gold in core hole TPK-10-004, returned an assay value of 25.9 g/t gold over 13.5m (see Northern Superior Resources press release, February 27, 2018).
Northern Superior owns 100% of the TPK property. Pursuant to an option/joint venture agreement entered into with Yamana Gold Inc. ("Yamana"), the project is operated by Northern Superior. Completion of this core drill program puts Yamana on track to complete the first-year commitment of this option/ joint venture agreement (see Northern Superior Resources press release, November 26, 2018).
Northern Superior works with Neskantaga First Nation through an Early Exploration Benefits Agreement (EEBA) to ensure beneficial engagement for all stakeholders through the early exploration phases completed on the TPK property.
Northern Superior's Annual General Meeting
The Company will be hosting its Annual General Meeting at the Toronto Downtown Sheraton Hotel, 123 Queen Street West, York Room. The meeting will be held on May 22, 2019, and will begin at 4:15pm. Dr. Thomas F. Morris, President and CEO of Northern Superior will provide an overview of the Company's activities and strategy going forward in addition to the formal business of the meeting.
Jonathan O'Callaghan P.Geo., is a qualified person ("QP") within the meaning of National Instrument 43-101. As the QP for the TPK property, Mr. O'Callaghan has reviewed, and approved 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:
Thomas F. Morris P.Geo., PhD., FGAC
President and CEO
Tel: (705) 525 ‐0992
Fax: (705) 525 ‐7701
e‐mail: [email protected]
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.