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SUP Northern Superior Resources Inc

0.48
0.01 (2.13%)
27 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Northern Superior Resources Inc TSXV:SUP TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.01 2.13% 0.48 0.48 0.485 0.48 0.475 0.475 92,522 14:30:13

Northern Superior Discovers New Gold Bearing Structural Zone, Identifies Seven New Gold/Base Metal Targets, Croteau Est Gold ...

07/05/2014 1:30pm

Marketwired Canada


Northern Superior Resources Inc. (TSX VENTURE:SUP) (the "Company" or "Northern
Superior") is pleased to announce the discovery of a new gold-bearing structural
zone (Figure 1) and at least seven additional gold targets on its Croteau Est
Gold property, Quebec. The Company completed a 108-hole, 1,147m winter reverse
circulation (RC) drill hole program, based on positive exploration results from
its 2013 program (see press release November 12, 2013).


The lithology, structure, alteration, mineralization, and geochemistry used in
defining these new discoveries were derived from bedrock chips recovered from
both the 2013 and 2014 RC drill programs. The 2014 RC drill program was
successful in: (1) developing further understanding of the geological and
structural controls associated with gold-mineralization within the previously
defined Croteau-Bouchard Shear Zone ("CBSZ"); and (2) identifying additional
high-priority gold and base metal targets on the Property.


Among the highlights of the exploration was the discovery of a new gold bearing
brittle fault/shear zone (Croteau Fault) in proximity to the eastern extent of
the currently defined CBSZ. This new structural zone is defined by 25 RC drill
holes that identify a 200m to 700m wide, NNE-SSW striking outer envelope of
anomalous As-Co-Ni mineralization, over a strike length of 3.9 km and is open
along strike in both directions. The central core of the alteration envelope
contains an inner zone of anomalous gold-silver mineralization of up to 111 ppb
Au and 280 ppb Ag in RC drill hole intercepts. 


This mineralized structure is an exciting new and significant discovery that
shares a number of structural and alteration characteristics with several other
past producing gold mines in the Chibougamau-Chapais camp such as the Cooke, Joe
Mann, Gwillim and Norbeau mines that are similarly located on northeasterly
trending faults, specifically where they intersect east-west shear zones. In
addition to the Croteau Fault, the recent RC drill hole program identified at
least seven new locations, in four separate target areas on the Property, where
shearing and anomalous hydrothermal alteration indicate that follow-up trenching
and channel sampling is warranted.


Dr. T.F. Morris President and CEO states: "In addition to the CBSZ, these recent
discoveries clearly demonstrate the potential for the discovery of additional
high-quality exploration prospects on the Croteau property. The geological and
structural framework defined by NSR on this Property compares to that of other
economic gold deposits mined in the Chapais-Chibougamau camp, and provides an
excellent opportunity for Northern Superior's shareholders. Northern Superior's
planned 2014 summer program will explore the Croteau Fault and the newly
identified targets to define specific, high-potential targets for
diamond-drilling."


About Northern Superior Resources Inc.

The Croteau Est property is one of four mineral properties that Northern
Superior is currently exploring. The other three properties (Lac Surprise,
Grizzly and Ti-pa-kaa-haa-ning ("TPK")) also represent regional-scale
exploration programs, either 100% owned and operated by Northern Superior or
Northern Superior having the right to earn a 100% interest in the property.
Exploration to date has identified numerous drill- ready targets for gold,
copper and silver on the TPK property of northwestern Ontario, gold/ VMS/
magmatic Ni, Cu +/- PGE's on the Company's Grizzly property, west- central
Quebec, and shear-hosted gold on the Company's Lac Surprise, west-central
Quebec.


The Company's Qualified Person ("QP") for the Croteau Est property is Ron Avery
(P.Geo.). As the QP, Mr. Avery has prepared or supervised the preparation of the
scientific and technical information for this program and has verified the data
disclosed in this press release.


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 Investors

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.


To view :Figure 1. New gold-bearing structural zone, Croteau Fault," please
visit the following link: http://media3.marketwire.com/docs/SUP56fig1.pdf. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Northern Superior Resources Inc.
Thomas F. Morris PGeo., PhD., FGAC, ICD.D
President and CEO
(705) 525-0992
(705) 525-7701 (FAX)
info@nsuperior.com
www.nsuperior.com

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