Northern Superior Discovers New Gold Bearing Structural Zone, Identifies Seven New Gold/Base Metal Targets, Croteau Est Gold Property, Quebec
SUDBURY, ONTARIO--(Marketwired - May 7, 2014) - 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, Québec. 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 Québec, and shear-hosted gold on the Company's Lac Surprise, west-central Québec.
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 Québec, 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.
