Northern Superior Resources Corporate and Project Update
SUDBURY, ONTARIO--(Marketwired - Jan 11, 2017) - Northern Superior Resources Inc. (TSX VENTURE:SUP) ("Northern Superior" or the "Company") is pleased to provide its shareholders with a corporate and project update.
Dr. T.F. Morris, President and Chief Executive Officer of the Company, stated: "2017 should be an exciting year for Northern Superior shareholders. The management team and I have been working closely with the new Board of Directors to chart a fresh path to build shareholder value. We have a two pronged strategy: first, to focus on drilling Croteau Est to expand the current resource; and second, to advance the TPK project. The TPK project includes a district scale land package with the potential to host multiple discoveries. We also plan on many meetings with current and new shareholders as well as community stakeholders."
Croteau Est:
Preparations are underway to initiate a 9,000 m core drill program on the Company's 100%-owned Croteau Est gold property located in Québec. Drilling is set to begin in the first quarter. The drill program's objective is to expand the 640,000 ounce inferred resource. Drill hole locations are being finalized, with a focus east of the current resource representing an untested structural target. The project is situated within the Chapais-Chibougamau gold camp, a historically important exploration and mining camp from which over 1 million ounces of gold and over one billion pounds of copper have been produced. Infrastructure at the project is excellent. The project is in close proximity to three fully serviced communities and is accessible year round from a network of paved and gravel roads. Further, the project is supported by a pre-development agreement with the First Nation community of Oujé-Bougoumou, the Cree Regional Authority and the Grand Council of the Cree.
TPK:
Northern Superior is committed to advancing its 100%-owned gold, silver and copper TPK property located in northwestern Ontario. This unique and district scale opportunity (the property is 30 km east to west by 20 km north to south- 600 km2) contains two large mineralized systems:
- A gold-bearing system, which is at least 24 km long (east to west), and from which one of the largest gold grain-in-till dispersal aprons in North America has been defined. The apron is 6 km east to west and contains till samples with as many as 1258 gold grains. The system is also characterized by mineralized boulder trains with assays of up to 94.21 grams per tonne of gold and 5.53 grams per tonne of silver. Preliminary core drilling results produced gold assay values as high as 28.75 grams per tonne of gold over 13.45 m of length. Associated with this system are five priority targets that have not been drilled.
- A mineralized greenstone belt system with an impressive 3.5 km-wide gold grain-in-till corridor containing gold grain counts as high as 1302 per 10 kilogram till sample. Mineralized boulders contain up to 727 grams per tonne of gold, 111 grams per tonne of silver and 4.02% copper.
The property is serviced from an all-season camp from which several trails extend to all untested core drill targets. Currently, the camp is accessible by winter road, ski plane or float plane. Additionally, the project is supported by an Early Exploration Benefits Agreement with the community of Neskantaga First Nation.
Board Restructuring:
Northern Superior is also pleased to announce the appointments of Mr. François Perron as Chairman of the Board and Mr. Andrew Farncomb as Chairman of the Audit Committee. Mr. Perron and Mr. Sidney Himmel were also appointed to the Audit Committee. The Board of Directors will maintain the high operational standards set by the previous Board of Directors and current management, and will work to further align current Board members with shareholder interests.
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.
The Company's Qualified Person ("QP") for the Croteau Est property is Ron Avery (P.Geo.). As the QP for the Croteau Est project, Mr. Avery has approved information disclosed in this press release.
The Company's Qualified Person ("QP") for the TPK property is Tom Morris (PhD., FGAC, ICD.D., P.Geo.). As the QP for the TPK project, Dr. Morris has approved related information disclosed in this press release.
For further information please visit the Company's website at www.nsuperior.com.
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.
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.
Contact
Northern Superior Resources Inc.
Thomas F. Morris PGeo., PhD., FGAC
President and CEO
(705) 525-0992
(705) 525-7701
info@nsuperior.com
www.nsuperior.com