Northern Superior Completes Staking, Airborne Geophysical Survey, Meston Lake, Northwestern Ontario: An Exciting New Archean Gold and Magmatic Ni-Cu Pge Exploration Opportunity
(via Thenewswire.ca)
Sudbury, Ontario, April 27th, 2011. Northern Superior Resources Inc. (the "Company") is pleased to announce that it has completed staking and flying an airborne geophysical survey over its 100% owned, Meston Lake gold exploration property in Northwestern Ontario. The property is located approximately 60 km north of the Community of Sachigo Lake First Nation with whom the Company has signed a Letter of Agreement supporting the exploration program.
PROPERTY HIGHLIGHTS
Reported historical mineralization on the property includes two priority precious metal targets and three secondary base metal targets. This is derived from drill hole logs in assessment reports filed with the Ontario Ministry of Northern Development, Mines and Forestry, Mining, and includes visual estimates as to chalcopyrite and arsenopyrite content. The areas and mineralization of interest include:
- Potential copper - gold zones: described in drill logs as a semi-massive pyrrhotite - pyrite in fine to coarse grained mafic volcanics containing up to 2% combined chalcopyrite and arsenopyrite; and a second zone along strike consisting in strongly sheared mafic to ultramafic volcanic rocks intercalated with gneissic granodiorite containing up to 3% disseminated and stringers of arsenopyrite and approximately 1% chalcopyrite over 19.9 metres;
- Molybdenum - gold showing: consisting of a narrow (10 centimetre wide) zone of molybdenum within a broader interval of widely spaced quartz veinlets and variably silicified granodiorite exposed in several outcrops over a north-south elongate area measuring 350 metres by 130 metres wide;
- Potential magmatic copper - nickel - platinum group elements (PGE): a 340.8 metre historical drill hole is mineralized over a 209.3 metre section with a weighted average pyrrhotite-pyrite content of 6.5% within which a 35.4 m section contains a weighted average of 0.75% chalcopyrite.
- VMS-type mineralization: reported from 6 drill holes that tested a 435 metre long EM conductor with the best hole containing from 1- 6% chalcopyrite and 1- 5% sphalerite over a 7.8 metre interval;
- Potential for copper deposit with disseminated and stringers of chalcopyrite from <1% to 5% in fine-grain sediments over an 11.1 metre core hole interval.
- Anomalous gold grain counts: from heavy mineral samples collected in 2002 in the Meston Lake area, including a sample with a total of 24 grains, 17 of which are pristine and therefore considered to be derived from local sources;
The Meston Lake property is underlain by rocks of the Sachigo sub-province within the Superior Province, along the Stull-Wunnumman Fault Zone within the Black Bear Greenstone Belt. This Greenstone Belt and Fault Zone are associated with Northern Superior's 100% owned Rapson Bay property located northwest and similarly to two gold deposits (Mega Precious Metals Inc.'s Monument Bay deposit and Puma Exploration/Tanqueray Resources Ltd.'s Little Stull deposit - see press release, April 6th, 2011).
2011 Meston Lake Exploration Program
The Company has just completed an aggressive staking program to expand the property from 4 claims (approximately 1,024 hectares) to 74 claims (approximately 17,344 hectares). This staking is based on results and recommendations made from a prospecting program completed in the fall of 2010 and thorough review of the Company's extensive geoscientific data base.
In addition, an airborne, total field magnetic survey was recently completed over the property in the last quarter. The Company engaged the services of Tundra Airborne Surveys to complete a 4,702 line km survey, using their Heli 3G, helicopter towed, 3 axis magnetic gradiometric system. The survey was flown at 30 metre height with line spacing set at 100 metres.
The Company intends to initially advance exploration on this property during the balance of 2011 through overburden and bedrock sampling and mapping programs. Several core racks containing drill core, derived from previous exploration programs, were identified by staking crews. The Company intends to examine the core and if feasible, submit material for assay. This work is expected to be completed by the fourth quarter of 2011, and is designed to identify targets for a diamond drilling program scheduled for the first quarter of 2012.
Commentary
Dr. T.F. Morris, President and CEO of Northern Superior Resources states, "The Meston Lake property presents an exceptional opportunity for Archean gold and Ni-Cu PGE exploration. This project, derived from the Company's extensive geoscientific data base, compliments the Company's other exploration projects in Northwestern Ontario, namely Rapson Bay, Thorne Lake, New Growth and Ti-pa-haa-kaa-ning."
Annual General Meeting
The Company would also like to announce that the Annual General meeting will be held Monday, May 2, 2011 at 4:00pm EST in the Governor General Parlour Room, the Toronto Hilton, 145 Richmond Street West, Toronto, Ontario M5H 2L2. All interested shareholders are invited to attend.
About Northern Superior
Northern Superior Resources Inc. is a junior exploration company focused on exploring for gold and diamonds in the Superior Province of the Canadian Shield. The Company currently has three active, high quality gold exploration projects in Ontario and Quebec-TPK, Thorne Lake and Wachigabau (see Company web site, www.nsuperior.com). These projects, and eight more early stage gold exploration projects (Rapson Bay, Meston Lake, New Growth, Lespinay, Lac Surprise, Hazeur, Chibougamou River and Lamarck Creek), were all developed from the Company's extensive geoscientific data base. Additional gold exploration projects are currently being developed from this data base. In addition to optioning out the TPK property, the Company is currently seeking to option-out its other 100% owned Rapson Bay, Meston Lake, New Growth, Lespinay, Lac Surprise, Hazeur, Chibougamou River and Lamarck Creek gold projects.
Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol SUP. For further information contact:
Thomas F. Morris PGeo., PhD., FGAC
President and CEO
Tel: (705) 525 ‐0992
Fax: (705) 525 ‐7701
e‐mail: info@nsuperior.ca
Forward looking statements: This news release includes certain "forward‐looking information" within the meaning of Canadian securities legislation and "forward‐looking statements" within the meaning of the United States Private Securities Litigation Reform Act or 1995 (collectively, "forward looking statements"). Forward looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", " forecast", " expect", " potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved or other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, exploration results, interpretation of results, the timing and success of exploration activities generally, the timing and results of future resource estimates, and future plans and objectives of Northern Superior are forward‐looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Northern Superior's expectations include exploration risks, changes in project parameters as plans continue to be refined, results of future resources estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on 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.
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