Northern Superior Resources Inc.
Northern Superior and Neskantaga First Nation Extend Early Exploration Benefits Agreement, TPK Gold - Silver - Copper Property, Northwestern Ontario
Tuesday, November 19, 2019 8:30 AM
SUDBURY, ON / ACCESSWIRE / November 19, 2019 / Northern Superior Resources Inc. (TSXV:SUP) ("Northern Superior" or the "Company") and Neskantaga First Nation ("Neskantaga") are pleased to announce a three year extension of their Early Exploration Benefits Agreement ("EEBA") for Northern Superior's Ti-pa-haa-kaa-ning ("TPK") gold-silver-copper exploration property located in Northwestern Ontario.
The provisions of the EEBA extend to all third parties, including Northern Superior's current Option/Joint Venture partner for the project, Yamana Gold Inc. ("Yamana").
Dr. T.F. Morris, President and CEO of Northern Superior states: "We are very pleased for the opportunity to continue our working relationship with Neskantaga First Nation. Having both the support and involvement of this Community with our exploration programs is key to the success of unlocking the mineral potential of the TPK property".
Chief Christopher Moonias, Neskantaga First Nation states: "We are encouraged by Northern Superior Resources continued willingness and commitment to engage with the Community in a meaningful way that respects our protocol and allow us to continue to build a stronger relationship. This is very important to fostering a lasting relationship moving forward."
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 (seeNorthern Superior Resources press releases, June 24, 2010, February 27, 2018, November 26, 2018). Results from the 2019 core drill program defined 8 gold-bearing shear zones capable of hosting economic deposits of gold (see Northern Superior Resources press release, May 15, 2019 and July 9, 2019).
The second gold-bearing system is 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). Prospecting and overburden sampling completed in the summer of 2017 clearly defined the head of this corridor and identified several key mineral targets (see Northern Superior Resources press release, December 6, 2017).
Northern Superior owns 100% of the TPK property. Pursuant to an option/joint venture agreement entered into with 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 through the EEBA to ensure beneficial engagement for all stakeholders through the early exploration phases completed on the TPK property.
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.
More information on the TPK project can be found on the Company's website (www.nsuperior.com) Northern Superior is currently looking for a partner to help move this valuable property forward to discovery.
About Northern Superior
Northern Superior is a junior exploration company exploring for gold in the Superior Province of the Canadian Shield. The Company is currently focused on exploring its Lac Surprise property in Québec and its TPK property in Ontario. Northern Superior also has a number of other 100% owned properties in Ontario and 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.
For more information, please visit www.nsuperior.com or contact:
Thomas F. Morris, President and CEO
Northern Superior Resources Inc.
Tel: (705) 525 ‐0992
Northern Superior Resources
1351 Kelly Lake Road, Unit 7
Sudbury, ON, Canada P3E 5P5
T: (705) 525-0992 F: (705) 525- 7701
Neskantaga First Nation
PO Box 105
Lansdowne House, ON, Canada POT 1Z0
T: (807) 479-2570 F: (807) 479- 1138
Forward Looking Statement:
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 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.