Sudbury, Ontario (November 26, 2019) Northern Superior Resources (“Northern Superior” or the “Company”) announces that it has resumed control over its 100% owned TPK gold-silver-copper property, Northwestern Ontario. This, following Yamana Gold Inc.’s (“Yamana”) decision not to continue its Option earn-in.
Dr. T.F. Morris, President and CEO states: “As much as we would have liked Yamana to continue its earn-in, their decision to opt out provides an opportunity for others to participate in this unique, camp scale, regional mineral exploration play in a stable exploration and mining friendly jurisdiction. This at a time when such opportunities are essentially non-existent.”
Northern Superior has benefited in many ways from the work completed by Yamana over the past year. The following are key examples of information that has been confirmed from recent work programs:
- With Yamana’s 2019 $2 million dollar investment in the TPK property, eight gold-bearing shear systems, capable of hosting economic deposits of gold, are now clearly defined within the Big Dam area of the property. This is a significant advancement of our understanding of gold emplacement mechanisms within this area of the property (see Northern Superior press release, May 15, 2019). Northern Superior has already prioritized the potential of each of these systems, establishing the next phase of exploration with associated budget (see Northern Superior press release, July 9, 2019);
- The mineralized system on the Big Dam part of the TPK property represents only one of two regional scale systems contained within the boundaries of the property, the Annex area representing the second such system (see Northern Superior press release, February 27, 2018) – Yamana was unable to complete exploration on the Annex portion of the property, leaving this opportunity open for further exploration; and,
- Northern Superior has maintained and continues to have the support of Neskantaga First Nation through the recently extended 3 year extension of the Early Exploration Benefits Agreement (EEBA - see Northern Superior press release, November 19, 2019).
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 (see Northern Superior Resources press releases, June 24, 2010, February 27, 2018, November 26, 2018). Results from the 2019 core drill program defined eight 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).
More information on the TPK project can be found on the Company’s website (www.nsuperior.com). Northern Superior is currently seeking a partner to help move this valuable property forward to discovery.
Northern Superior owns 100% of the TPK property and works with Neskantaga First Nation through the EEBA to ensure beneficial engagement for all stakeholders through the early exploration phases 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.
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
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.