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NORTHERN SUPERIOR RES INC - NSUPF STOCK NEWS

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Northern Superior Resources Inc. (NSUPF) is a gold exploration company focused on the Chibougamau Camp in Québec, Canada. The Company holds a significant land package exceeding 62,000 hectares, with key properties including Philibert, Lac Surprise, Chevrier, and Croteau. Philibert, located near IAMGOLD's Nelligan Gold project, boasts a new inferred resource of 1,708,800 ounces Au and an indicated resource of 278,900 ounces Au. With promising exploration results and a strategic focus on the Philibert Project, Northern Superior aims to further enhance its mineral reserves and unlock the full potential of its assets.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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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Northern Superior Resources (OTCQB:NSUPF) has announced a non-brokered private placement totaling C$3,000,000. This offering will involve the sale of flow-through common shares priced at $0.90 for Quebec FT Shares and $1.18 for Quebec Charity FT Shares. Proceeds will finance Canadian Exploration Expenses on gold projects in Quebec, particularly Lac Surprise and Croteau Est. The closing is expected by December 14, 2021 and is subject to regulatory approvals.

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Northern Superior Resources has appointed Rodney Barber as Vice President Exploration, enhancing its exploration capabilities with over 35 years of experience. Joining him are Donald Boucher and Michel LeBlanc, bringing a combined 110 years in geological expertise. The team aims to advance exploration programs in Ontario and Quebec, focusing on projects like Ti-pa-haa-kaa-ning and Lac Surprise. The company's efforts are supported by Orix Geoscience for modeling services.

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FAQ

What is the current stock price of NORTHERN SUPERIOR RES (NSUPF)?

The current stock price of NORTHERN SUPERIOR RES (NSUPF) is $0.329641 as of December 23, 2024.

What is the market cap of NORTHERN SUPERIOR RES (NSUPF)?

The market cap of NORTHERN SUPERIOR RES (NSUPF) is approximately 54.6M.

What is Northern Superior Resources Inc. focused on?

Northern Superior is a gold exploration company focused on the Chibougamau Camp in Québec, Canada.

What are the key properties owned by Northern Superior?

Key properties include Philibert, Lac Surprise, Chevrier, and Croteau.

Where is the Philibert Project located?

The Philibert Project is located near IAMGOLD's Nelligan Gold project.

What are the inferred and indicated resources at the Philibert Project?

Philibert boasts a new inferred resource of 1,708,800 ounces Au and an indicated resource of 278,900 ounces Au.

What is the strategic focus of Northern Superior?

Northern Superior aims to enhance its mineral reserves and unlock the full potential of its assets, particularly the Philibert Project.

NORTHERN SUPERIOR RES INC

OTC:NSUPF

NSUPF Rankings

NSUPF Stock Data

54.57M
126.11M
23.64%
4.56%
Gold
Basic Materials
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United States of America
Toronto