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SUP Northern Superior Resources Inc

0.68
-0.01 (-1.45%)
29 May 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 -1.45% 0.68 0.67 0.70 0.69 0.67 0.67 43,342 21:00:05

Northern Superior Identifies Additional Exploration Targets, Grizzly Property, West-Central Quebec

29/04/2014 1:30pm

Marketwired Canada


Northern Superior Resources Inc. (TSX VENTURE:SUP) (the "Company" or "Northern
Superior") is pleased to report that it has identified 4 additional exploration
targets on its Grizzly Property, west-central Quebec (see Figure 1). "Lac
Porphyre-Sud" and "Bras Pichamobi" represent volcanogenic massive sulphide (VMS)
targets, "Ruisseau Daladier-Nord" represents a magmatic nickel-copper +/-
platinum-group-element (Ni-Cu +/- (PGE)) target, and "Lac Mahekan" target
represents a shear-hosted gold-copper (Au-Cu) target (see Table 1).




----------------------------------------------------------------------------
Target Name Size     Target       Commodity Description                     
----------------------------------------------------------------------------
Bras        Regional VMS          Zn-Ag-Cu- Felsic lapilli tuff and         
Pichamobi                         Au        porphyritic rhyolite w/         
                                            sericite-chlorite               
                                            alteration, disseminated pyrite-
                                            pyrrhotite. Fuchsite alteration 
                                            in an E-W shear zone.           
----------------------------------------------------------------------------
Lac         Regional VMS          Zn-Ag-Cu- 14-DDH completed by Exploration 
Porphyre-Sud                      Au        Noranda Ltd, 1988 (GM49083)     
                                            testing geophysical conductors  
                                            within a felsic volcanic unit.  
                                            Highlights: up to 6.5 g/t Ag    
                                            over 23.5m in a zone of 50%     
                                            pyrite, 1% pyrrhotite in a      
                                            matrix of rhyolite (DDH LP-88-10
                                            from 67.40 to 90.90m).          
----------------------------------------------------------------------------
Lac Mahekan Local    Shear-hosted Au-Cu     Brecciated andesitic basalt with
                     Au-Cu                  disseminated pyrite along a     
                                            decimetric chert horizon.       
----------------------------------------------------------------------------
Ruisseau    Regional Magmatic Ni- Ni-Cu +/- Chip samples assayed upto 0.73 %
Daladier-            Cu +/- (PGE) (PGE)     Ni, 0.65% Cu, and 0.20% Co,     
Nord                                        associated with a zone of       
                                            "blebs, massive, and            
                                            disseminated pyrrhotite,        
                                            chalcopyrite, pentlandite, and  
                                            cobalt" from two showings       
                                            approximately 300m apart located
                                            along strike at the contact     
                                            between the gabbro and adjacent 
                                            basalt. 6-DDH completed by      
                                            Tomiska Copper Mines, 1957      
                                            (GM7521B), intersected up to    
                                            0.92% Ni, and 0.60% Cu over an  
                                            interval of 10-feet (from 55 to 
                                            65 feet, in "Hole No.4",        
                                            collared in, and drilled down-  
                                            dip of mineralization to test   
                                            extent at depth: averaging      
                                            0.61% Ni and 0.40% Cu over 75-  
                                            feet (length of the hole),      
                                            ending in mineralization). PGE  
                                            potential has not been tested.  
----------------------------------------------------------------------------



Table 1: Summary of additional targets identified on the Grizzly Property.

Two of the targets (Bras Pichamobi (Zn-Ag-Cu-Au) and Lac Mahekan (Au-Cu)) were
defined during a geologic and structural mapping survey completed by the
Ministere des Ressources naturelles ("MRN") Quebec and published in its report
titled "New Mineral Exploration Targets: 2013 Geoscience Projects" (the "MRN
Report"). An additional shear-hosted gold target, reported as the "Icestorm
Showing (Au)" was identified in this report which corresponds to the "Grelon
Showing" that was discovered by Northern Superior during the first phase of
exploration on the property in 2013 (see Press Release February 26, 2014). 


The MRN Report highlights "new exploration targets of economic interest that
were identified during its 2013 geoscience projects". The Grizzly Property and
surrounding area were part of a mapping and geologic compilation study completed
by MRN geologist F. Leclerc "Mapping and compilation - Lac Lamarck area,
Chapais-Chibougamau". The MRN Report can be accessed from:
ftp://ftp.mrn.gouv.qc.ca/Public/Bibliointer/Perio/1025647/2013.pdf.


Two additional targets (Lac Porphyre-Sud ((Zn-Ag-Cu-Au) and Ruisseau
Daladier-Nord (Ni-Cu +/- (PGE)) were identified by Northern Superior from a
historical data compilation exercise. 


Dr. T.F. Morris President and CEO states: "The identification of these
additional targets on the Grizzly Property demonstrates that favorable geologic
and structural conditions exist to host multiple styles of mineralization that
are common to other areas of the Chibougamau-Chapais camp. We look forward to
advancing this project and are currently in the process of planning for the next
phase of exploration".


About Northern Superior Resources Inc.

The Grizzly property is one of four mineral properties that Northern Superior is
currently exploring. The other three properties (Lac Surprise, Croteau Est and
Ti-pa-kaa-haa-ning ) 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
Ti-pa-kaa-haa-ning property of northwestern Ontario and gold on the Company's
Croteau Est and Lac Surprise properties in west- central Quebec. 


The Company's Qualified Person ("QP") for the Grizzly Property is Scott R.G.
Parsons (M.Sc., MBA, P.Geo.). As the QP, Mr. Parsons 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: Location of new targets, previously reported showings, and
historic showings Grizzly Property, Quebec, please visit the following link:
http://media3.marketwire.com/docs/SUPmap1.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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