Northern Superior Announces Launch of Major Drilling Campaign in The Chibougamau Gold Camp and Additions to Technical Committee
Northern Superior Resources has launched a major drilling campaign at its Philibert gold property in the Chibougamau Gold Camp, Quebec. The campaign includes over 20,000 meters of expansion drilling, focusing on extending mineralization along strike and down dip of the open pit resource. The company recently completed a C$8 million financing and secured necessary drilling permits valid until August 1, 2026.
The Chibougamau Gold Camp is emerging as a significant gold destination, with Northern Superior and IAMGOLD holding key assets. The Philibert Project currently has an inferred mineral resource of 1,708,800 ounces and an indicated mineral resource of 278,900 ounces, both averaging 1.10 g/t gold.
Northern Superior has also added Kelly Malcolm and Will Randall to its Technical Committee, bringing valuable experience in gold exploration and lithium development.
Northern Superior Resources ha lanciato una grande campagna di perforazione presso la sua proprietà aurifera Philibert nel Chibougamau Gold Camp, Quebec. La campagna prevede oltre 20.000 metri di perforazioni di espansione, con l'obiettivo di estendere la mineralizzazione lungo il giacimento e verso il basso rispetto alle risorse dell'area di scavo a cielo aperto. L'azienda ha recentemente completato un finanziamento di 8 milioni di dollari canadesi e ha ottenuto i necessari permessi di perforazione validi fino all'1 agosto 2026.
Il Chibougamau Gold Camp sta emergendo come una significativa destinazione per l'oro, con Northern Superior e IAMGOLD che detengono beni chiave. Il Progetto Philibert attualmente ha una riserva mineraria inferita di 1.708.800 once e una riserva mineraria indicata di 278.900 once, con un contenuto medio di 1,10 g/t di oro.
Northern Superior ha inoltre aggiunto Kelly Malcolm e Will Randall al suo Comitato Tecnico, portando esperienza preziosa nell'esplorazione dell'oro e nello sviluppo del litio.
Northern Superior Resources ha lanzado una importante campaña de perforación en su propiedad de oro Philibert en el Chibougamau Gold Camp, Quebec. La campaña incluye más de 20,000 metros de perforación de expansión, centrándose en extender la mineralización a lo largo del yacimiento y hacia abajo del recurso a cielo abierto. La empresa completó recientemente un financiamiento de 8 millones de dólares canadienses y aseguró los permisos de perforación necesarios válidos hasta el 1 de agosto de 2026.
El Chibougamau Gold Camp está emergiendo como un destino significativo para el oro, con Northern Superior e IAMGOLD poseyendo activos clave. El Proyecto Philibert tiene actualmente un recurso mineral inferido de 1,708,800 onzas y un recurso mineral indicado de 278,900 onzas, ambos con un promedio de 1.10 g/t de oro.
Northern Superior también ha agregado a Kelly Malcolm y Will Randall a su Comité Técnico, aportando valiosa experiencia en la exploración de oro y en el desarrollo de litio.
Northern Superior Resources는 퀘벡의 Philibert 금 속성에서 큰 시추 캠페인을 시작했습니다. 이 캠페인은 20,000미터 이상의 확장 시추를 포함하며, 노천 채굴 자원의 광맥을 따라와 아래쪽으로 광물화를 연장하는 데 주력하고 있습니다. 회사는 최근 800만 캐나다 달러의 자금을 조달하고 2026년 8월 1일까지 유효한 필요한 시추 허가를 확보했습니다.
Chibougamau Gold Camp는 Northern Superior와 IAMGOLD가 주요 자산을 보유하고 있는 중요한 금 목적지로 부상하고 있습니다. Philibert 프로젝트는 현재 1,708,800 온스의 추정 광물 자원과 278,900 온스의 명시된 광물 자원을 보유하고 있으며, 두 자원 모두 평균 1.10 g/t 금을 기록하고 있습니다.
Northern Superior는 또한 Kelly Malcolm과 Will Randall를 기술 위원회에 추가하여 금 탐사 및 리튬 개발 분야에서 귀중한 경험을 더했습니다.
Northern Superior Resources a lancé une importante campagne de forage sur sa propriété aurifère Philibert dans le Chibougamau Gold Camp, Québec. La campagne comprend plus de 20 000 mètres de forage d'expansion, se concentrant sur l'extension de la minéralisation le long de la structure et en profondeur de la ressource à ciel ouvert. L'entreprise a récemment terminé un financement de 8 millions de dollars canadiens et a obtenu les permis de forage nécessaires valables jusqu'au 1er août 2026.
Le Chibougamau Gold Camp émerge comme une destination importante pour l'or, Northern Superior et IAMGOLD détenant des actifs clés. Le projet Philibert dispose actuellement d'une ressource minérale inférée de 1 708 800 onces et d'une ressource minérale indiquée de 278 900 onces, avec une moyenne de 1,10 g/t d'or.
Northern Superior a également ajouté Kelly Malcolm et Will Randall à son Comité Technique, apportant une expérience précieuse dans l'exploration de l'or et le développement du lithium.
Northern Superior Resources hat eine große Bohrkampagne auf seinem Goldprojekt Philibert im Chibougamau Gold Camp, Quebec, gestartet. Die Kampagne umfasst über 20.000 Meter Erkundungsbohrungen, die darauf abzielen, die Mineralisierung entlang des Streichens und abwärts der Tagebau-Ressource zu erweitern. Das Unternehmen hat kürzlich eine Finanzierung von 8 Millionen kanadischen Dollar abgeschlossen und die notwendigen Bohrgenehmigungen bis zum 1. August 2026 gesichert.
Das Chibougamau Gold Camp entwickelt sich zu einem bedeutenden Ziel für Gold, wobei Northern Superior und IAMGOLD wichtige Vermögenswerte halten. Das Philibert-Projekt verfügt derzeit über eine geschätzte Mineralressource von 1.708.800 Unzen und eine angegebene Mineralressource von 278.900 Unzen, die beide einen Durchschnitt von 1,10 g/t Gold aufweisen.
Northern Superior hat außerdem Kelly Malcolm und Will Randall in sein Technisches Komitee berufen, die wertvolle Erfahrungen in der Goldexploration und Lithiumentwicklung mitbringen.
- Launch of 20,000-meter expansion drilling campaign at Philibert gold property
- Secured C$8 million financing for exploration activities
- Obtained drilling permits valid until August 1, 2026
- Current inferred mineral resource of 1,708,800 ounces and indicated mineral resource of 278,900 ounces at Philibert
- Addition of experienced professionals Kelly Malcolm and Will Randall to the Technical Committee
- None.
Toronto, Ontario--(Newsfile Corp. - August 19, 2024) - Northern Superior Resources Inc. (TSXV: SUP) (OTCQB: NSUPF) (FSE: D9M1) ("Northern Superior" or the "Company") is pleased to announce the launch of a significant drilling campaign, with over 20,000 metres of expansion drilling, at the Philibert gold property, located only 9 km from IAMGOLD Corporation Ltd. ("IAMGOLD")'s Nelligan project, and 60 km southwest of Chibougamau, Quebec (the "Philibert Project": Northern Superior:
In addition, the Company is pleased to welcome to its Technical Committee Mr. Kelly Malcolm, former Vice-President Exploration of Amex Exploration Inc. and current President and Chief Executive Officer of Borealis Mining Company Ltd., and Mr. Will Randall, former President and Chief Executive Officer of Arena Minerals Inc. and current President and Chief Executive Officer of Freeman Gold Corp.
Since completing a C
Furthermore, the Company conducted a request for proposal process involving several service providers and ultimately selected Miikan Drilling Inc., a majority Cree-owned joint venture between the Oujé-Bougoumou First Nation, the Mistissini First Nation, and Chibougamau Diamond Drilling Ltd.
Chibougamau Gold Camp
The Chibougamau Gold Camp is rapidly emerging as one of the world's most exciting gold destinations. Not only are several gold resources within the camp reaching viable scales, but their complementary nature is amplifying the potential, making the development of this camp truly remarkable. Only two years ago, these critical assets (see table below) were divided amongst five different companies. Today, primarily due to Northern Superior's leadership, ownership has been streamlined, with only IAMGOLD and Northern Superior holding these assets. The proximity of these deposits to each other makes them ideally suited to feed a single mill, and their consolidation enhances their viability, thereby increasing their value.
Below is a table showing the resources of the camp having been formalized to date.
Note: see NI 43-101 information in notes 3, 4, 5, and 6 below.
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Drilling Campaign Highlights (See press release dated June 13, 2024, for a detailed review of the exploration strategy.)
- BUILDING ON STRONG FOUNDATIONS: in 2023, the Company filed a transformational Mineral Resource Estimate ("MRE") for the Philibert Project of 1,708,800 ounces of inferred mineral resource averaging 1.10 grams of gold per tonne, and 278,900 ounces of indicated mineral resource averaging 1.10 grams of gold per tonne;
- IMPACTFUL PROGRAM: Over 20,000 metres of expansion drilling planned for the next 8 months, i) along strike to the east and west and, ii) along the hanging wall trend north and down dip of the open pit resource and defined pit;
- GREAT POTENTIAL: Work conducted to date on the Philibert Project is based on only 3 km of mineralization while geophysics is indicative of an additional 4 km of mineralization spreading east and west of the resource (see Figure 1);
- EXPANSION DRILLING WITH DEMONSTRATED MINERALIZATION: Notable historic drill holes over 300 metres east of the current resource returned 2.17 g/t Au over 17.9 metres, and 1.66 g/t Au over 8.27 metres with both requiring further sampling (see Figure 1,2 and 3);
- PLAN TO CONNECT MINERALIZATION: Historic drilling located over 1,500 metres southeast of the current resource (see Figure 1,2 and 3) returned 1.55 g/t Au over 26.0 metres starting at 72.5 metres, and 1.09 g/t Au over 13.7 metres with both drill holes requiring further sampling above and below the intersections;
- GREAT POTENTIAL TO THE WEST: Approximately 300 metres west of the defined pit along the hanging wall trend returned 1.76 g/t Au over 7.0 metres, including 10.8 g/t Au over 1.0 metre starting at 162.5 metres from historical drilling. Other anomalous gold values were returned but require further sampling above and below the intersection. The western trend is defined by a linear magnetic anomaly interpreted to correspond to the gabbro host of Philibert extending on the property for over 2 km (see Figure 1,2 and 3);
- STRIKE EXTENSIONS: Expansion drilling southeast of the Corsac Fox zone part of the interpreted hanging wall with an additional potential of 700 metres of strike extension (see Figure 1,2 and 3);
- GREAT METALLURGY: Further metallurgical testing is being planned for the eastern end of the pit to build on initial testing with flotation concentrate returning recoveries up to
95.6% (see press release dated July 6, 2023); and, - UNDERGROUND POTENTIAL: While the MRE published in 2023 did not include any of the underground potential, a previous study of the economic potential of the Philibert Project,[2] focused exclusively on underground resources from the western domains, with approximately 239,000 ounces at 5.68 g/t gold (see Figure 2). Such underground potential will be further explored, evaluated, and potentially included in a subsequent mineral resource estimate (see Figure 3).
Figure 1: Plan view showing the resource classification over High Resolution Total Magnetic Intensity Map with arrows identifying possible structures to test for mineralization.
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Figure 2: Plan view showing the conceptual open pit and the pit-constrained block model; color coded Au g/t.
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Figure 3: Longitudinal view showing the conceptual open pit with block model filtered to 1.5 g/t Au, arrows identifying potential areas under the conceptual pit.
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Technical Committee
Northern Superior is pleased to announce that Mr. Kelly Malcolm and Mr. Will Randall have joined its Technical Committee.
Mr. Malcolm, a Professional Geologist, currently serves as the President and Chief Executive Officer of Borealis Mining Company Ltd. He previously held the position of Vice President of Exploration at Amex Exploration Inc., where he played a pivotal role in multiple gold discoveries. During his tenure, the company raised over
Mr. Randall is a seasoned professional geologist with over 20 years of experience in the mining and mineral exploration industry. He currently serves as the President and Chief Executive Officer of Freeman Gold Corp. A pioneer in the lithium brine sector, Mr. Randall was instrumental in acquiring, discovering, and developing lithium projects in Argentina for Lithium-X Energy Corp. and Arena Minerals Inc. Approximately
Corporate Matters
Following the execution of the contract with MIC Market Information & Content Publishing GmbH ("MIC") on July 10, 2024 (the "Effective date") (see press release dated July 15, 2024) to provide investor awareness services for a period of 6 months from the Effective Date, the Company announces having received and paid, on July 23, 2024, the related €150,000 invoice, which covers the entirety of the services to be rendered; the exchange rate on July 23, 2024 was €1 = C
About Northern Superior Resources Inc.
Northern Superior is a gold exploration company focused on the Chibougamau Camp in Québec, Canada. The Company has consolidated the largest land package in the region, with total land holdings currently exceeding 62,000 hectares. The main properties include Philibert, Lac Surprise, Chevrier and Croteau. Northern Superior also owns
The Philibert Project is located 9 km from IAMGOLD Corporation's Nelligan[3] Gold project which was awarded the "Discovery of the Year" by the Québec Mineral Exploration Association (AEMQ) in 2019. Philibert hosts a new maiden 43-101 inferred resource of 1,708,800 ounces Au and an indicated resource of 278,900 ounces of Au.[4] Northern Superior holds a majority stake of
Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSXV under the symbol SUP and the OTCQB Venture Market under the symbol NSUPF. For further information, please refer to the Company's website at www.nsuperior.com or the Company's profile on SEDAR+ at www.sedarplus.ca.
About SOQUEM
SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery, and development of mining properties in Québec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Québec's mineral wealth, SOQUEM relies on innovation, research, and strategic minerals to be well-positioned for the future.
Qualified Person
The technical and scientific content of this press release has been reviewed and approved by Ms. Melanie Pichon, P.Geo., Senior Geologist for Northern Superior. Ms. Pichon is not considered independent.
Northern Superior Resources Inc. on Behalf of the Board of Directors
Simon Marcotte, CFA, President and Chief Executive Officer
Contact Information
Katrina Damouni
Director - Corporate Development
Tel: +44 7795 128583 (Mobile/WhatsApp)
info@nsuperior.com
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 press release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the proposed transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of Northern Superior, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of the parties to execute the proposed transaction. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither party nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Neither party undertakes, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
[1] Northern Superior has the option to acquire from Soquem the remaining
[2] Historical information : Roche Ltée., (1991) Économique, Propriété Philibert. Projet: 11044-001.
[3] IAMGOLD reports increase in mineral reserves and resources at existing assets, with increase in resources at Gosselin; IAMGOLD Corporation News Release dated February 15, 2024; NI 43-101 technical report and maiden mineral resource estimate for the Monster Lake Project, Quebec, Canada, May 9, 2018, prepared by INNOVEXPLO for IAMGOLD.
[4] Northern Superior announces 1,708,809 gold ounces in inferred category and 278,921 gold ounces in indicated category at 1.10 g/t in maiden NI 43-101 pit constrained resource estimate at Philibert; Northern Superior's press release dated August 08, 2023.
[5] NI 43-101 Technical Report Mineral Resource Estimation for the Chevrier Main Deposit, Chevrier Project Chibougamau, Quebec, Canada, October 20, 2021, Prepared in accordance with NI 43-101 by Lions Gate Geological Consulting Inc. IOS Services Géoscientifiques Inc. for Northern Superior.
[6] Chalice Gold Mines Limited and Northern Superior Resources Inc. Technical Report on the Croteau Est Gold Project, Québec, September 2015, Prepared in accordance with NI 43-101 by Optiro Pty Ltd ("Optiro") to Chalice Gold Mines Limited and Northern Superior.
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FAQ
What is the size of Northern Superior's new drilling campaign at the Philibert gold property?
When do Northern Superior's newly acquired drilling permits for the Philibert Project expire?
What is the current mineral resource estimate for Northern Superior's Philibert Project (NSUPF)?
Who are the new additions to Northern Superior's Technical Committee announced in August 2024?
