SUDBURY, ON / ACCESSWIRE / October 23, 2019 / Northern Superior Resources (TSXV:SUP)(OTCQB:NSUPF) ("Northern Superior" or the "Company") is pleased to announce the completion of a 12 hole, 4,400 metre (m) core drill program on its 100% owned Lac Surprise property in west-central Québec. A key purpose of this program is to confirm the western extension of the Renard Gold Trend from the neighboring Nelligan Property onto the northeastern part of the Lac Surprise Property.
Yesterday, both IAMGOLD and Vanstar Mining Resources Inc. ("Vanstar"), IAMGOLD's partner on the project, announced an initial 43-101 compliant mineral resource estimate of 3.2 million inferred ounces of gold for the Nelligan Gold Project, (see IAMGOLD/Vanstar press releases, October 22, 2019).
Dr. T.F. Morris, President and CEO states: "We are greatly encouraged by this recent announcement by IAMGOLD/Vanstar and the definition of 3.2 million inferred ounces of gold on their neighboring Nelligan Property. We look forward to reporting the results of our drill program once forthcoming assay results are received."
About the Lac Surprise Property
The Nelligan Gold Property is tied onto the northeast side of the Lac Surprise property. Vanstar 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 believes, based on the following, that this gold system likely extends west onto the Lac Surprise property:
- Lithologies associated with the Nelligan gold deposit extending west onto the Lac Surprise property;
- Gold grain and gold geochemical-in-till dispersal trains defined, emanating from this lithological package on the Lac Surprise property;
- 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;
- Four west to east anomalous geophysical trends identified within this lithological package, defined from an induced polarization and magnetic survey completed in 2016; and
- Establishing that at least one of these anomalous geophysical trends is gold bearing, confirming that a hydrothermal gold bearing system(s) occurs within this part of the property: defined by a five core drill hole (1185m) program completed in 2016.
Jonathan O'Callaghan P.Geo., is a Qualified Person ("QP") within the meaning of National Instrument 43-101. As the QP for the Lac Surprise property, Mr. O'Callaghan has reviewed, and approved information disclosed in this press release.
About Northern Superior Resources Inc.
The Lac Surprise gold property is one of four mineral properties that Northern Superior is currently exploring. The other three properties also represent regional scale exploration programs, 100% owned by Northern Superior. Exploration to date has identified:
- numerous drill-ready targets for gold, copper and silver on the Ti-pa-kaa-haa-ning (TPK) property of northwestern Ontario;
- a gold deposit (11.6 million tonnes, grade 1.7ppm Au 640,000 oz Au) and numerous opportunities on the Croteau Est property in west- central Québec; and
- a variety of commodities on the Wapistan property, James Bay Lowlands, Québec.
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 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]
For further information please refer to the following Northern Superior news releases: January 27, 2014; March 9, 2017; March 9, 2017; January 29, 2019; February 6, 2019; July 9, 2019; August 7, 2019; September 10, 2019; available on the Company's website and SEDAR.
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