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Northern Superior Resources Inc. (OTCQX: NSUPF, TSXV: SUP) is a Canadian gold exploration company strategically focused on advancing mineral-rich properties in the Chibougamau Gold Camp, Quebec, and Northern Ontario. With a consolidated land package exceeding 62,000 hectares, Northern Superior has positioned itself as a significant player in one of Canada’s most promising gold districts. The company’s portfolio includes flagship properties such as the Philibert Project, Lac Surprise, Chevrier, and Croteau in Quebec, alongside the district-scale TPK Project in Ontario.
Core Business and Exploration Strategy
Northern Superior specializes in identifying, acquiring, and developing high-potential gold properties. Its business model centers on exploration and resource definition, with a focus on enhancing the value of its assets. The company leverages advanced geological modeling, historical drill data, and modern exploration techniques to identify significant gold mineralization. By consolidating key properties in strategic locations, Northern Superior has developed a robust portfolio that attracts partnerships and investment opportunities.
Key Properties and Resource Highlights
- Philibert Project: Located 9 km from IAMGOLD’s Nelligan Project, Philibert hosts a maiden NI 43-101 pit-constrained resource estimate of 1.71 million ounces of inferred gold at 1.10 g/t and 278,900 ounces of indicated gold at 1.10 g/t. The project benefits from proximity to infrastructure and promising metallurgical recovery rates of up to 95.6%.
- Lac Surprise: This property is interpreted as the western extension of the Nelligan Deposit, offering high geological continuity and exploration upside.
- Chevrier: Featuring an inferred resource of 652,000 ounces and an indicated resource of 260,000 ounces of gold, Chevrier supports both open-pit and underground mining potential.
- Croteau: Hosts an inferred resource of 640,000 ounces of gold, with significant exploration upside.
- TPK Project: A district-scale asset in Ontario, known for extensive gold mineralization and promising historical drilling results.
Competitive Position and Market Significance
Operating in the rapidly emerging Chibougamau Gold Camp, Northern Superior is uniquely positioned as one of the few companies with a consolidated land package in the region. Its properties are strategically located near established projects, maximizing their development potential. The camp, now hosting over 12 million ounces across various categories, is increasingly recognized as one of the world’s most promising gold districts. Northern Superior’s leadership in consolidating assets and advancing exploration differentiates it from competitors, while partnerships with entities like SOQUEM and ONGold Resources Ltd. enhance its operational capabilities.
Commitment to Responsible Exploration
Northern Superior emphasizes responsible exploration practices, prioritizing environmental stewardship and community engagement. The company actively collaborates with local communities and Indigenous groups to ensure sustainable development and shared economic benefits.
Conclusion
With a strategic focus on high-potential gold assets, a robust resource base, and a commitment to operational excellence, Northern Superior Resources Inc. is positioned as a key player in Canada’s gold exploration industry. Its extensive land holdings, advanced exploration techniques, and partnerships underscore its potential to deliver significant value to stakeholders and contribute meaningfully to the development of the Chibougamau Gold Camp.
Northern Superior Resources reports significant findings from the first three drill holes of its 2022 drill program at the Lac Surprise property. The Falcon Gold Zone (FGZ) has been intersected at a vertical depth of 343m, extending the previous depth of 250m. The company emphasizes the 100% drill strike rate with 29 successful holes. The FGZ remains open at depth, indicating strong potential for higher-grade mineralization. With $12 million in cash, Northern Superior is fully funded for ongoing exploration.
Northern Superior Resources has launched a 15-hole core drill program totaling 6,650 meters at its 100% owned Lac Surprise property in Ontario. The program aims to expand the Falcon Gold Zone, which currently shows a 100% drill hole strike rate with notable intersections including 1.36 g/t Au over 40m. The objectives include testing strike extensions, increasing vertical continuity, and exploring potential parallel gold-bearing structures. The company is optimistic, holding over $12 million in cash for extensive exploration this year.
Northern Superior Resources has announced the initiation of the second phase of Reverse Circulation (RC) drilling at its Croteau Est property in Quebec, following promising results from the initial phase completed in Fall 2021. The Phase 1 drilling expanded the inferred gold resource to 640,000 ounces at 1.7 g/t Au. The new phase includes another 124 RC drill holes aimed at further gold footprint expansion. CEO Dr. T.F. Morris expresses optimism about the potential for additional gold ounces. Preliminary deeper core drill targets have also been defined for future exploration.
Northern Superior Resources has successfully acquired Kintivar Exploration Inc.'s Gaspard Nord mineral property, expanding its exploration potential in the Chapais-Chibougamau gold-copper camp. The 2.8 km2 Gaspard Nord property is strategically located next to Northern Superior's Lac Surprise property and is believed to host extensions of the Falcon Zone, which has shown promising gold-silver mineralization. The acquisition includes a 2% net smelter return royalty and is expected to enhance the company's exploration strategy with a $6M budget allocated for 2022.
Northern Superior Resources has appointed Catharine Farrow and Alan King to advisory roles, enhancing the company's exploration strategies. Dr. Farrow, with over 30 years of experience in geology and management, previously served notable organizations and is currently an independent director for multiple mining corporations. Mr. King, with 40 years in geophysics and mineral exploration, will provide insights into various exploration projects. The company has also granted 1,990,000 incentive stock options for strategic growth.
Northern Superior Resources Inc. (OTCQB:NSUPF) has successfully closed a non-brokered private placement, raising C$6.65 million, up from the initial C$3 million offering. This financing includes participation from the Cree First Nation of Waswanipi and board members, alongside existing shareholders and seven new institutional investors. Proceeds will position the company for an aggressive exploration strategy in 2022, maintaining a cash balance exceeding C$12 million by year-end. New Gold Inc. retains a 9.9% ownership stake.
Northern Superior Resources has expanded its non-brokered private placement to C$6,650,930. This includes C$3,321,417 from flow-through common shares, C$1,963,583 from charity flow-through shares, and C$1,365,929 from hard dollar investments. Participation includes four new directors and the Cree Nation of Waswanipi. New Gold Inc. has also increased its funding commitment to maintain a 9.9% stake. The company anticipates a cash balance of over C$12 million post-offering, supporting aggressive exploration in 2022 across key properties.
Northern Superior Resources (OTCQB: NSUPF) has announced an increase in its non-brokered private placement, securing C$6.5 million in investments. The offering includes C$3.32 million through the issuance of flow-through common shares and C$1.96 million in charity flow-through shares, alongside C$1.21 million in hard dollar investments. Proceeds will fund Canadian Exploration Expenses on gold projects in Québec. The company anticipates having over C$12 million post-financing for aggressive exploration in 2022, with closing expected by November 30, 2021.
Northern Superior Resources (OTCQB:NSUPF) has increased its non-brokered private placement to $5.0 million. This includes C$3,299,321 from the issuance of 3,665,912 flow-through shares at $0.90 each and C$1,700,679.72 from 1,441,254 charity flow-through shares at $1.18 each. New Gold Inc. will maintain its 9.99% ownership stake. The offering is expected to close by November 18, 2021, pending regulatory approvals.
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