Northern Superior Resources Extends New Gold Discovery by 200 m West by Intersecting 44.9 m at 1.55 g/t AuEq at Lac Surprise
2.4 km West of IAMgold/Vanstar’s Nelligan 3.2mm Inferred Gold Resource*SUDBURY, December 22, 2020 - Northern Superior Resources ("Northern Superior" or the "Company")(TSXV:SUP)(OTCQB:NSUPF) is pleased to announce that drilling has extended the previously announced new gold discovery at Lac Surprise (see Northern Superior press release, November 5, 2020) by 200 metres ("m") to the west with the announcement of a second discovery hole. Hole LCS19-005(ext) recorded an intersection of 1.55g/t gold equivalent(1) ("AuEq") over 44.9m, including 3.82g/t AuEq over 15m. This discovery hole appears to be on strike and only 1.6 kilometres ("kms") from IAMGOLD/Vanstar's westernmost reported step-out drillhole (see Vanstar/IAMGold press releases August 11, 2020 and Figure 1).
Lac Surprise is 100% owned by Northern Superior, consists of a large 15,178.5 hectares land package and has numerous high priority drill targets identified. Northern Superior's fall drill program focused on several targets immediately west of the Vanstar/IAMGold JV Nelligan gold property which hosts the 3.2 million ounce at 1.02 g/t Au inferred Nelligan resource (see reference to technical report on next page).
Highlights:
- Newly discovered gold zone extended by 200m along strike to the west with hole LCS19-005(ext) recording 1.44 g/t gold and 1.08 g/t silver or 1.55g/t AuEq over 44.9m, including 3.60 g/t gold and 1.92 g/t silver or 3.82g/t AuEq over 15m (Tables 1, 2 and 3);
- On November 5, 2020 (see Northern Superior press release), the new gold zone was discovered by hole LCS20-13 recording 1.02 g/t gold and 3.92 g/t silver or 1.07 g/t AuEq over 35.5m with a high-grade interval of 7.70 g/t gold and 38.96 g/t silver or 8.22 g/t AuEq over 2.6m;
- In hole LCS19-005(ext) the host material and associated properties are very similar to that reported for Nelligan including:
i) Host material consists of coarser clastic materials (hole LCS19-005ext. consists mainly of greywacke);
ii) Moderate- strong Pyrite content varying between 3 to 6% mostly in thin dissemination, fracture, veinlets controlled and often in stringers; and
iii) With decametric moderate to strong silicification and sericitization spatially related. - Southern extension of the Épervier zone from hole LCS20-13 with hole LCS20-14 recording 0.870g/t AuEq over 6m. The Épervier zone was originally discovered from the Company's 2019 core drill program, highlighted by hole LCS19-008 which assayed 1.54g/t Au over 15.15m (see Northern Superior Resources press release, December 9, 2019).
(1) Gold equivalent grades calculated based on a 75 Au:Ag factor ratio.
Target Delineation
The 2020 fall drill program focused on 3 target areas: 1, 1b and 2 (Figure 2). The three target areas represent a cumulative strike length of over 2.4km for drill testing, with multiple mineralized zones recorded from drilling to date. From the 2020 fall drill program, assay results for six holes have been reported, all from Target Area 1. A total of six holes are still pending assay, with two in Target 1, two in Target 1b and two in Target 2.
Within Target Area 1, there are two key portions of focus. First, a northern trend continuing along strike approximately 2.4km west to Target Area 2, and second, an area defined by an F3 fold with significant dimensions of 900m long by 300m wide. Holes designed to test the northern trend intersected several intervals containing anomalous gold assays (Table 4). The northern trend (previously identified as the "North Trend") also hosts the Black Phoenix showing (grab sample 19.9 g/t Au) and the Roi gold showing, both situated along the western portion of that trend. Within the F3 fold, on November 5, 2020 Northern Superior announced the discovery of a new gold zone, from hole #LCS20-13 that assayed 1.02 g/t gold and 3.92 g/t silver, including 1.07 g/t gold equivalent over 35.5m.
The second discovery hole from LC19-005(ext) announced in today's results, is within the F3 fold area, with assays of 1.55g/t AuEq over 44.9m, including 3.82g/t gold equivalent over 15m, and importantly 200m along strike to the west of hole LCS20-13. The new discovery represents a mineralized zone, between a mineralized northern and southern limb. The layering of gold zones observed to date at Lac Surprise has been observed at IAMGOLD /Vanstar's Nelligan Deposit, where their most recently recorded step-outs are approximately 1.4km east of Northern Superior's recently discovered gold zone (Figure 1). Importantly, this F3 fold area remains open to the west and will be a major focus of our drill program in 2021.
The Lac Surprise 2021 Drill Program will target extensions of the mineralized gold zones discovered in the fall 2020 drill program, potentially follow-up drilling in Target 1b and 2, and will test a large and highly prospective Target 3. Target 3 lies 5 km along strike from Target 1 with a very encouraging geomagnetic signature similar to Target 1 (Figure 2). The fall 2020 program has significantly increased our understanding of the gold system, which will be leveraged on other target areas on the large 15,178.5 hectares land package.
Dr. T.F. Morris, President and CEO states: "We are very pleased and encouraged with the second round of assays from the Fall 2020 Lac Surprise Drill Program, further demonstrating the potential for an extension of IAMGOLD/Vanstar's Nelligan Deposit onto Northern Superior's 100% owned Lac Surprise project. Extending the strike by 200m to the west of the recently discovered gold zone with hole LC19-005(ext) recording 1.55g/t AuEq over 44.9m or 3.82g/t AuEq over 15m, in addition to finding multiple mineralized gold zones/ layers, analogous to Nelligan, is very significant. Importantly, there is still a larger target area with an overall strike of 900m yet to be explored plus multiple other target areas within Lac Surprise's large, 15,178.5 hectares land package - including Target 3. We look forward to receiving the remaining assays and leveraging the success from the fall 2020 program into our fully funded $3.5 million 2021 drill program."
Qualified Person
Michel Leblanc is the Qualified Person ("QP"), within the meaning of National Instrument 43-101, who is overseeing the execution of the drill program. Mr. Leblanc has reviewed and approved information disclosed in this press release.
* Reference for IAMGOLD/Vanstar's Nelligan 3.2MM Inferred Gold Resource: "Carrier, Alain (M.Sc., P.Geo); Nadeau-Benoit, Vincent (P.Geo); Fauvre, Stéphane (PhD., P.Geo). October 22, 2019. NI 43-101 Technical Report and Initial Resource Estimate for the Nelligan Project, Québec, Canada."
Cautionary Note to Readers: Readers are reminded that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
About Northern Superior Resources Inc.
The Lac Surprise gold property is one of three key mineral properties 100% owned by Northern Superior Resources. The other two properties (TPK and Croteau Est) also represent regional scale exploration opportunities (see Northern Superior Corporate Presentation, www.nsuperior.com).
Northern Superior's TPK and Croteau Est Projects
The TPK property is located in northwestern Ontario and is large (approximately 20kms x 30kms), containing two regional scale mineralized systems. The first system is primarily gold bearing, stretching 35kms across the Big Dam and New Growth areas of the property. The Big Dam area contains the largest gold grain-in-till dispersal aprons in North America stretching 6kms by 11kms, with as many as 1262 gold grains most of which are pristine (92%). Embedded within this apron are numerous high-grade gold mineralized boulders assaying as high as 94 g/t gold. A discovery hole of 25.87 g/t gold over 13.45m has already been intersected. The second system within the Annex area of the property is defined by a gold grain-in-till dispersal corridor 3.5kms x 13.5kms wide with gold grain counts as high as 1263 gold grains, mostly pristine in shape. Embedded within this corridor are boulders assaying as high as 727g/t gold, 111g/t silver and 4.05% copper.
A drill program for the Big Dam and Annex areas of the property has been developed and ready to be initiated as soon as First Nations concerns associated with COVID-19 have been addressed to their satisfaction. These programs are fully funded with a budget of $3.7million. This property is 100% Northern Superior's and is operated under an Early Exploration Benefits Agreement with Neskantaga First Nation.
The Croteau Est property is located within the Chapais-Chibougamou gold camp of Québec and is large (approximately 30kms x 15kms). The property has a 43-101 compliant inferred gold resource defined and several gold showings discovered across the property. The resource is defined as consisting of 11.6 million tonnes, grading 1.7g/t gold, yielding 640,000 ounces of gold. Assays associated with this deposit includes intersections of: 11.06 g/t gold over 9.10m including 43.75 g/t gold over 2.00m, 61.24 g/t gold over 5.95 m including 705 g/t gold over 0.5 m, 7.50 g/t gold over 7.95m including 56.40 g/t gold over 1.00m, 1.99 g/t gold over 34.65m including 9.46 g/t gold over 2m). The resource is defined from only 64, shallow holes most of which are only 350m deep. The system is open along strike in both directions and at depth. A core drill program and budget has been set for this project to expand the resource and test several of the regional showings (see "Technical Report on the Croteau Est Gold Project, Québec, October 12th, 2015 Mineral Resource Estimate, Drabble, M., Glacken, I, Cervoj, K and Morgan, R.).
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.
Figure 1. Location hole LCS19-05ext, Target Area 1 relative to the neighbouring Nelligan gold resource.
Figure 2. Lac Surprise Target Locations in Eastern Portion of Property
Table 1. Assay summary table LCS19-05ext., 1.44 g/t gold, 1.08 g/t Ag, 1.55 AuEq over 44.9m.
Table 2. Including, 3.82 g/t AuEq over 15.0m.
Table 3. Assay summary table LCS20-14. Épervier zone south extension from LCS20-13.
Table 4. Summary of anomalous gold intersections (≥0.1g/t Au), holes LCS15, 16 and 18.
For Further Information
Please refer to Northern Superior news available on the Company's website (www.nsuperior.com) and on SEDAR (www.sedar.com) or contact:
Thomas F. Morris P.Geo., PhD., FGAC
President and CEO
Tel: (705) 525 ?0992
Fax: (705) 525 ?7701
e?mail: info@nsuperior.com
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.