Latest news with #NorthernSuperior
Miami Herald
13-05-2025
- Business
- Miami Herald
Northern Superior Reports New Discovery With 18.0 Metres of 2.48 g/t Au Including 4.9 Metres of 7.02 g/t Au and Strong Step-Out Results With 50.3 Metres at 0.70 g/t Au Including 13.3 Metres of 1.47 g/t Au at Philibert(1)
TORONTO, ON / ACCESS Newswire / May 13, 2025 / Northern Superior Resources Inc. ("Northern Superior" or the "Company") (TSXV:SUP)(OTCQB:NSUPF)(GR:D9M1) is pleased to announce additional results from its 20,000-metre expansion drilling campaign at the Philibert gold property, located just 9 km from IAMGOLD Corporation's ("IAMGOLD") Nelligan project and 60 km southwest of Chibougamau, Quebec (the "Philibert Project": Northern Superior: 75%, SOQUEM: 25%). Highlights Include (Grades uncut; lengths measured along hole; see Table 1): New Zone Discovered Beneath and South of Current Resource: PB-25-484: 2.48 g/t Au over 18.0 metres (620.0 m to 638.0 m), including 7.02 g/t Au over 4.9 metres (621.1 m to 626.0 m);PB-25-480: 0.70 g/t Au over 50.3 metres (148.7 to 199.0 m), including 1.47 g/t Au over 13.3 metres (185.7 to 199.0 m), located beneath the current resource pit at the Fennec Fox footwall ("FW") zone;PB-25-478: 0.48 g/t Au over 32.6 metres (147.0 m to 179.6 m), including 1.42 g/t Au over 7.5 metres (167 m to 179.5 m), located below the current resource pit at the Grey Fox FW zone; andNew Core Area Outside Current Resource Pit: These holes, along with previously reported PB-25-475, PB-25-476, and PB-25-477 (see press releases dated March 3 and March 25, 2025), define a new core area intersecting the Grey Fox and Fennec Fox FW zones along a 400-metre strike and between 150-200 metres vertically. All six (6) holes are outside the current resource pit, and the target remains open along strike and at depth. "Today's results underscore the significant expansion potential at Philibert, with hole PB-25-484 marking a new high-grade discovery that opens the door for underground resource development. The additional drill holes reported further build on our ongoing success at the southeastern extent of the pit and reinforce the strong potential to grow the resource well beyond the current 1.71 million ounces at 1.1 g/t gold in the inferred category and 279,000 ounces at 1.1 g/t gold in the indicated category. Philibert is rapidly emerging as a cornerstone asset within the evolving Chibougamau Gold Camp," said Simon Marcotte, President and Chief Executive Officer. "We're particularly excited by hole PB-25-484, which delivered both significant grade and width, demonstrating the strong potential to add high-quality ounces to our overall resource base. This intercept confirms that mineralization continues down-dip and becomes enriched at vertical depths exceeding 500 metres, providing compelling targets for continued expansion. In addition, we intersected significant mineralization across a 150-metre strike length in an area that had seen limited historical drilling. Situated between the Fennec Fox and Grey Fox zones, these new intercepts-together with previously reported results-highlight the potential to define a continuous, 400-metre mineralized corridor underneath the current pit shell, where its geometry remains shallow compared to the depth of the Red Fox Zone (See Figure 1)," added Adree DeLazzer, Vice President of Exploration. 1PB-25-484: 18.0 metres from 620.0 m to 638.0 m at 2.48 g/t Au including 4.9 metres from 621.1 m to 626.0 m at 7.02 g/t Au; PB-25-480: 50.3 metres from 148.7 m to 199.0 m at 0.70 g/t Au including 13.3 metres from 185.7 m to 199.0 m at 1.47 g/t Au. Figure 1: Longitudinal View looking northeast (front cut); 2024 and 2025 intersections highlighted in bold, New Zone for PB-25-484 and under pit mineralized corridor PB-25-475 to 480. Drilling Results Drillhole PB-25-484 targeted a section of the resource with limited drilling density, where the pit shallows. It intersected 2.48 g/t Au over 18.0 metres, including 7.02 g/t Au over 4.9 metres, from a downhole depth of 620 metres (~520 metres vertical). The mineralization may represent a new zone or a down-plunge extension of the Arctic Fox FW zone. Historical drilling suggested deeper potential, with nearby intercepts located 190 metres up-dip and 150 metres along strike (see Table 1 and Figures 1, 2, and 3). Drillhole PB-25-478 intersected 0.48 g/t Au over 32.6 metres, including a higher-grade interval of 1.42 g/t Au over 7.5 metres, down-dip of the Grey Fox FW zone. The mineralized zone occurs at 140 metres vertical depth, or approximately50 metres beneath the current resource pit shell (see Table 1 and Figures 1, 2, 4 and 6). PB-25-479, collared 60 metres west and down-dip of PB-25-478, returned a discrete high-grade intercept of 8.35 g/t Au over 0.5 metres and a lower grade intersection of 0.45 g/t Au over 6.0 metres within a wider weakly anomalous interval of 0.31 g/t Au over 29.6 metres. This hole tested a sparsely drilled area outside the modeled plunge of mineralization between the Fennec Fox and Grey Fox FW zones. Mineralization was encountered at a vertical depth of 150 metres, approximately 120 metres below the pit shell, in a section where the pit geometry flattens toward surface (see Table 1 and Figures 1, 2, 4 and 6). PB-25-480, drilled 80 metres west of PB-25-479, intersected 0.70 g/t Au over 50.3 metres, including 1.47 g/t Au over 13.3 metres, at a vertical depth of 160 metres, approximately 100 metres below the resource pit in an area where the pit shallows to surface (see Table 1 and Figures 1, 2, 4 and 5). Gold mineralization is hosted within the siliceous phase of the Philibert gabbro seam, characterized by pervasive silicification, quartz veining, ankerite and sericite alteration, and 1-15% disseminated pyrite-pyrrhotite. When combined with previously released intercepts-including PB-25-475: 1.94 g/t Au over 31.0 metres, PB-25-477: 2.03 g/t Au over 19.7 metres (see press release dated March 25, 2025), and PB-25-476: 2.89 g/t Au over 10.6 metres, including 5.15 g/t Au over 5.3 metres (see press release dated March 3, 2025)-the data define a 400-metre mineralized corridor situated outside the current resource pit envelope (refer to Figure 1 - longitudinal section of the Philibert Trend, and Figure 4 - inclined long section). Figure 2: Plan Map of Philibert 2024-2025 Diamond Drilling Table 1: Significant Drillhole Intersections Grades have not been capped in the averaging and intervals are reported as drill thickness. True widths are estimated at 70 to 90%. Intersections are determined using 0.3 g/t Au cut-off and no more than 15 metres of consecutive dilution. If an intersection is 1 metre or less dilution under 0.1 g/t Au may be used to determine a 2-metre intersection. * Intersections are determined using 0.1 g/t Au cut-off and no more than 15 metres of consecutive dilution. Figure 3: Section L10920E New Zone looking NW at 100 metre section width - PB-25-484 Figure 4: Longitudinal view of Fennec Fox - Grey Fox FW zones inclined at 40 degrees towards the NE. Figure 5: Section L10240W Fennec Fox FW, looking NW 80 metre section width Figure 6: Section L10160W Grey Fox FW, looking NW 100 metre section width Table 2: Drill holes collars and parameters The Chibougamau Gold Camp The Chibougamau Gold Camp is rapidly emerging as one of the world's most sought-after gold destinations with several complementary gold resources reaching viable scale. In recent years, these critical assets were divided amongst five different companies. Today, largely due to Northern Superior's acquisitions and corporate transactions,2 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. Qualified Person ("QP") The technical content and drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and have been reviewed and approved by Ms. Melanie Pichon, Senior Geologist for Northern Superior. Ms. Pichon is a QP under the NI 43-101 and is not considered independent. Northern Superior adheres to strict protocols following the NI 43-101 best practices when conducting exploration works. Sampling and assay results are monitored with strict QAQC protocols. Drilled core is processed and assayed in Northern Superior's facilities in Chapais, Quebec. Core samples (half core) are transported to Agat Laboratory in Val d' are analyzed by fire assay with a 50-gram charge with an Atomic Absorption (AA) finish. Samples returning assay values over 10.0 grams are re-assayed with a gravimetric finish. QAQC consists of 4% of blank material, certified standards and duplicates inserted in the assay sequences by Northern Superior. 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 56% of ONGold Resources Ltd. (TSXV: ONAU) (OTCQX: ONGRF) which is advancing promising exploration assets in Northern Ontario and Manitoba, including the district-scale TPK Project and Monument Bay; Agnico Eagle Mines Limited owns 15% of ONGold Resources Ltd. The Philibert Project is located 9 km from IAMGOLD Corporation's Nelligan3 Gold project. Philibert hosts a maiden 43-101 inferred resource of 1,708,800 ounces Au and an indicated resource of 278,900 ounces Au.4 Northern Superior holds a majority stake of 75% in the Philibert Project, with the remaining 25% owned by SOQUEM, and retains an option to acquire the full 100% ownership of the project. Chevrier hosts an inferred mineral resource of 652,000 ounces Au (underground and open pit) and an indicated mineral resource of 260,000 ounces Au.5 Croteau hosts an inferred mineral resource of 640,000 ounces Au.6 Lac Surprise hosts the Falcon Zone Discovery, interpreted to be the western strike extension of IAMGOLD Corporation's Nelligan Gold project. 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 or the Company's profile on SEDAR+ at 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. Northern Superior Resources Inc. on Behalf of the Board of Directors Simon Marcotte, CFA, President and Chief Executive Officer Contact Information Katrina DamouniDirector - Corporate DevelopmentTel: +44 7795 128583 (Mobile/WhatsApp)info@ 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. 3 "lAMGOLD Announces Significant Increase in Nelligan Ounces & Update of Global Mineral Reserves and Resources"; 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, October 23, 2024, and February 20, 2025. Note that the technical and scientific information disclosed from neighboring properties does not apply to any other properties of the area.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. Note that the technical and scientific information disclosed from neighboring properties does not apply to any other properties of the area.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. Note that the technical and scientific information disclosed from neighboring properties does not apply to any other properties of the area.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. Note that the technical and scientific information disclosed from neighboring properties does not apply to any other properties of the area.
Associated Press
30-04-2025
- Business
- Associated Press
Northern Superior Highlights ONGold's Appointment of Vice-President Exploration and Monument Bay Project Update
TORONTO, ON / ACCESS Newswire / April 30, 2025 / Northern Superior Resources Inc. (" Northern Superior ") (TSXV:SUP)(OTCQX:NSUPF)(GR:D9M1) is pleased to share announcements from ONGold Resources Ltd. (the " Company " or " ONGold ") (TSXV:ONAU) (OTCQB:ONGRF), including an update on the Monument Bay Project. Northern Superior holds a 62% equity interest in ONGold, alongside a 15% interest held by Agnico Eagle Mines Limited. ONGold is pleased to announce the appointment of Paul Dunbar as Vice-President, Exploration effective as of April 1, 2025. With nearly four decades of experience in geology and gold resource evaluations, Mr. Dunbar has held prominent roles in executive and senior management positions across Canadian exploration, development and production mining companies overseeing gold resource expansions in support of mining operations and evaluating and advancing exploration projects. Although focused predominantly on gold exploration and development projects, his expertise spans a wide variety of geological deposit types, including Archean greenstone gold deposits, epithermal gold/silver systems, SEDEX deposits, and copper-gold porphyry projects. He has managed diverse teams of professionals and has considerable success in globally steering projects from the grassroots stage to advanced resource definition and development stage having worked throughout Canada, Nevada, Peru, East and West Africa, China and Mongolia. As the Director of Exploration for Argonaut Gold Inc., he led his team in advancing exploration, expanding resources, and assisting to develop the Magino open pit gold producing mine operating in Dubreuilville, Ontario. This operation and 10,000 tpd mill and remaining Canadian assets were acquired by Alamos Gold Inc. in 2024. MONUMENT BAY GOLD PROJECT UPDATE Mr. Dunbar will lead the reactivation of exploration at the Monument Bay gold project as well as a detailed resource review. The objectives of the current exploration program at Monument Bay are as follows: PROJECT RESOURCE GEOLOGIST ONGold is also initiating a re-examination of the existing Monument Bay gold resource as well as resource expansion opportunities. In order to complete the analysis, ONGold has engaged an experienced resource geologist; Mr. Wally Dzick. As a highly experienced and internationally recognized Professional Geologist, Mr. Dzick has cultivated a distinguished career centered on precious metals exploration and mining, resource evaluation, statistical analysis and development, corporate due diligence with notable expertise in exploration and resource appraisals in gold and silver commodities. His experience spans across domestic and international assignments, including roles in strata-bound sediment-hosted copper and polymetallic replacement-style deposits. His career includes significant tenures with leading global companies such as Barrick Gold and Newmont Mining, complemented with mid-tier juniors like Getchell Gold, Silver Standard Resources, and Summit Mining. As Chief Geologist for Barrick Gold at the Meikle Mine in Nevada, he successfully managed the geology department and developed strategies for optimizing resources through effective drilling programs. His proficiency in mine geology, quality assurance and quality control processes, ore control, mine-to-mill reconciliation, and resource modeling position him as a key player in the industry. Kyle Stanfield CEO and Director of ONGold commented: 'I am delighted Paul Dunbar has joined ONGold in this critical leadership role. He brings the right balance of grassroots exploration planning combined with expansive gold resource development expertise to our team. With the planned reactivation of exploration activities at the Monument Bay gold project, we are excited about next steps as we enter an unprecedented gold price environment.'. Monument Bay Gold Project The recently acquired Monument Bay Gold project in Manitoba represents a substantial acquisition of large known gold deposits. Monument Bay has had numerous mineral resources estimates completed by various Qualified Persons on behalf of various operators, which are no longer current under National Instrument 43-101 - Standards of Disclosure for Mineral Projects (" NI 43-101 "). The most recent unpublished NI 43-101 technical report (2017) (the " Historical Report ") for the Monument Bay deposit (formally the Twin Lakes Deposit) identified 2.3 million gold ounces (58.0 million tonnes at an average grade of 1.24 g/t) in the 'Measured' and 'Indicated' Mineral Resources categories, and 720,000 gold ounces (24.4 million tonnes at an average grade of 0.92 g/t) in the 'Inferred' Mineral Resources category. This includes only in-pit and resources with a cut off grade of 0.3 g/t gold. Notes: New Gold Exploration Targets Identification The compilation and new interpretive work announced by ONGold on March 3, 2025 resulted in the identification of five (5) new target areas, detailed below, for field exploration investigations with the goal of defining new targets for drilling. These zones are denoted and prioritized as follows: The Company is focused on exploring target areas that have the best opportunity to provide gold resource expansion opportunities. ONGold currently believes that the (1) Ankerite/Gold Pond area, (2) the AZ Zone/Central Zone area, and (3) Monument Bay deposit west extension are the 'highest priority' areas having the highest potential to discover new gold resources. Technical Information The scientific and technical content of this press release has been reviewed and approved by Rodney Barber, P. Geo. for ONGold, who is a " Qualified Person " as defined by NI 43-101. Mr. Barber is the President of ONGold and is not considered independent. All technical data contained in this press release related to Monument Bay is considered historical in nature. The Historical Report contains resource estimates that were calculated using cut-off grades of 0.3 grams per tonne (g/t) gold for open-pit resources. The 2015 pit shell was used to constrain the resource. The Mid-East and AZ Zones are not included in this estimate. This resource only considers open-pit resources and is pit-constrained. Subsequent resource modelling has indicated there is a high degree of variability in tonnage, metal grades, and contained metal as a result of different estimation methodologies and geological models. This estimate, prepared prior to ONGold's acquisition of Monument Bay, is considered historical in nature. It is no longer current and should not be relied upon. The 2015 pit shell used to constrain the resource is outdated and would need to be updated to reflect current economic conditions and technical parameters. A qualified person has not done sufficient work to classify the historical estimates in this news release as current mineral resources or mineral reserves, and ONGold is not treating the historical estimates as current mineral resources or current mineral reserves. ONGold does not have any more recent estimates or data available with respect to these historical estimates and has not conducted sufficient work to establish the relevance and reliability of the historical resource estimates. To verify and update this historical estimate to current NI 43-101 standards, additional work is required. This includes further drilling, a review of the geological model, and validation of previous findings under the oversight of a qualified person. Until such work is completed, investors are cautioned that the historical estimate does not meet current NI 43-101 standards, and any economic analysis or decisions based on this estimate should be avoided. About ONGold Resources Ltd. ONGold Resources Ltd. owns significant exploration assets in Northern Ontario, including the district-scale Monument Bay Gold-Tungsten Project, TPK Project, Domain Gold Project and October Gold Project. These projects represent a strategic footprint in one of Canada's most prolific gold-producing regions. ONGold Resources Ltd. on behalf of the Board of Directors Kyle Stanfield, Chief Executive Officer & Director Contact Information Kyle Stanfield Chief Executive Officer Telephone: 1 (855) 525-0992 Email: [email protected] 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 62% of ONGold Resources Ltd. (TSXV:ONAU) which is advancing promising exploration assets in Northern Ontario and Manitoba, including the district scale TPK Project and Monument Bay; Agnico Eagles Mines Limited owns 15% of ONGold Resources Ltd. The Philibert Project is located 9 km from IAMGOLD Corporation's Nelligan 1 Gold project. Philibert hosts a maiden 43-101 inferred resource of 1,708,800 ounces Au and an indicated resource of 278,900 ounces of Au. 2 Northern Superior holds a majority stake of 75% in the Philibert Project, with the remaining 25% owned by SOQUEM, and retains an option to acquire the full 100% ownership of the project. Chevrier hosts an inferred mineral resource of 652,000 ounces Au (underground and open pit) and an indicated mineral resource of 260,000 ounces Au. 3 Croteau hosts an inferred mineral resource of 640,000 ounces Au. 4 Lac Surprise hosts the Falcon Zone Discovery, interpreted to be the western strike extension of IAMGOLD Corporation's Nelligan Gold project. 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 or the Company's profile on SEDAR+ at . 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) [email protected] 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 news release. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable Canadian securities legislation. These statements relate to matters that identify future events or future performance. Often, but not always, forward looking information can be identified by words such as 'could', 'pro forma', 'plans', 'expects', 'may', 'will', 'should', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', 'believes', 'potential' or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. The forward-looking statements contained herein include, but are not limited to, statements regarding: the performance of the Monument Bay project, the Company's plans relating to the Monument Bay project, and results of the Company's mineral exploration activities on the Monument Bay project (including, without limitation, its mineral resources, current claims and its ability to utilize global gold needs); and the performance of gold as a commodity, including the sustained gold demand and prices. In making the forward looking statements in this news release, ONGold has applied several material assumptions, including without limitation: market fundamentals that result in sustained gold demand and prices; the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of Monument Bay in a timely manner; the availability of financing on suitable terms for the development; construction and continued operation of Monument Bay; Monument Bay containing mineral resources; the Company's ability to conduct an Initial Phase I Field Exploration Program; the Company's ability to execute on its plans relating to the Monument Bay project; and the Company's ability to comply with all applicable regulations and laws, including environmental, health and safety laws. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of managements considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward- looking statements are reasonable, such information involves risks and uncertainties, and under reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements expressed or implied by the Company. Among the key risk factors that could cause actual results to differ materially from those projected in the forward- looking statements are the following: operating and technical difficulties in connection with mineral exploration and development and mine development activities at Monument Bay; estimation or realization of mineral reserves and mineral resources, requirements for additional capital; future prices of precious metals and gold; changes in general economic, business and political conditions, including changes in the financial markets and in the demand and market price for commodities; possible variations in ore grade or recovery rates; possible failures of plants, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays or the inability of OnGold to obtain any necessary approvals, permits, consents or authorizations, financing or other planned activities; changes in laws, regulations and policies affecting mining operations; currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities; risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on ONGold's business; as well as those factors discussed under the heading 'Risk Factors' in the Company's latest Management Discussion and Analysis and other filings of ONGold filed with the Canadian securities authorities, copies of which can be found under the Company's profile on SEDAR+ at Should one or more of these risks or uncertainties materialized, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. ONGold does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. 1 " lAMGOLD Announces Significant Increase in Nelligan Ounces & Update of Global Mineral Reserves and Resources"; 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, October 23, 2024, and February 20, 2025. 2 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. 3 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. 4 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. SOURCE: Northern Superior Resources Inc. press release
Associated Press
03-03-2025
- Business
- Associated Press
Northern Superior Reports 3.59 G/T AU Over 7.7 Metres 800 Metres East of Resource Pit and 2.89 G/T Over 10.6 Metres From Under Resource Pit at Philibert, Mobilizes Second Drill Rig, and Comments on New Nelligan Resource Estimate
TORONTO, ON / ACCESS Newswire / March 3, 2025 / Northern Superior Resources Inc. ('Northern Superior' or the 'Company') (TSXV:SUP)(OTCQX:NSUPF)(GR:D9M1) is pleased to announce additional results from its 20,000 metres expansion drilling campaign 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: 75%, SOQUEM: 25%[1]). Highlights Include (Grades uncut; lengths measured along hole, Table 1): 'Considering that the current Mineral Resource at Philibert, consisting of 1.7 million ounces inferred and 278,000 ounces indicated, is confined within a 3 km pit, today's results demonstrating the presence of high-grade mineralization 800 metres beyond the pit eastern boundary further underscore the significant untapped potential of the deposit andfurtherreinforces our confidence in the broader mineralized system. This follows our recently announced intercept of 2.6 g/t over 26.5 metres, located 200 metres east of the pit,' said Simon Marcotte, President and Chief Executive Officer. Additionally, the Company has submitted 1,800 metres of historical drill core for analysis. These core samples, originally drilled by Soquem, the project's previous operator, were not a priority at the time, as the resource model was then focused on underground high-grade potential. Historical core analysis has proven valuable in refining the deposit model and enhancing geological understanding. The processing of these historical samples has contributed to a delay in receiving assay results for the current drill program; further results should be expected shortly. Below are new assay results from a combination of newly collected core samples and re-evaluated historical drill core. These results include assays from previously unsampled core intervals, as well as recalculated composite grades from historical drilling, applying updated methodologies to ensure consistency with modern standards. This work has successfully identified new areas of mineralization especially in the central part of the western extent of the MRE pit with drill hole 981-89-142 returning 20.4 metres of 1.12 g/t Au and improved grade continuity in the Red Fox and Arctic Fox zones with results such as hole 981-14-281 returning 81.2 metres of 0.56 g/t Au and from drill hole 981-87-043 with 29.0 metres of 1.12 g/t Au. Table 1: Significant Historic Drillhole Intersections 981-88-100 242.1 261.2 19.1 1.89 36.1 Arctic Fox Footwall 981-88-103 271.3 279.0 7.7 0.79 6.1 Arctic Fox Footwall 981-88-110 199.3 231.0 31.7 0.75 23.8 Fennec Fox Footwall 981-88-126 84.0 91.5 7.5 0.39 2.9 New Zone 981-89-142 40.5 60.9 20.4 1.12 22.8 New Zone 981-89-145 19.5 37.0 17.5 0.44 7.7 New Zone 981-90-156 239.0 252.5 13.5 0.49 6.6 Corsac Fox - Hanging Wall PH-93-203 599.4 640.2 40.8 0.64 26.1 Red Fox Footwall including 677.8 682.6 4.8 1.77 8.5 Red Fox Footwall PH-93-217 354.5 357.5 3.0 0.75 2.3 Corsac Fox - Hanging Wall 981-12-260 111.9 146.4 34.5 0.62 21.4 Red Fox Footwall 981-12-264 101.0 123.0 22.0 0.36 7.9 Red Fox Footwall including 114.0 123.0 9.0 0.63 5.7 Red Fox Footwall 981-14-277 72.7 87.5 14.8 0.34 5.0 Arctic Fox Footwall 981-14-280 206.5 239.0 32.5 0.43 14.0 Arctic Fox Footwall 981-14-281 189.3 270.5 81.2 0.56 45.5 Red Fox Footwall including 189.3 206.6 17.3 0.85 14.7 Red Fox Footwall and including 231.3 234.3 3.0 4.07 12.2 Red Fox Footwall 981-12-240 112.0 118 6.0 0.6 3.6 Red Fox Footwall 981-12-256 174.6 184.5 9.9 0.33 3.3 Red Fox Footwall 981-14-289 123.5 134.1 10.6 0.26 2.8 Red Fox Footwall 981-14-315 63.0 71.0 8.0 0.55 4.4 New Zone 981-87-043 25.0 54.0 29.0 1.12 32.5 Arctic Fox Footwall including 27.5 27.7 0.2 69.65 13.9 Arctic Fox Footwall PH-93-202 391.0 392.5 1.5 1.32 2.0 Corsac Fox - Hanging Wall Northern Superior is also pleased to announce the arrival of a second drill rig at the Philibert property, which began operation last week. Since the launch of the drilling campaign, Northern Superior has completed approximately 8,500 metres in 2024 and 4,800 metres in 2025, totaling over 13,000 metres, primarily targeting the southeast extension and expansion of the Philibert pit. IAMGOLD's Updated Nelligan Resource On February 20, 2025, IAMGOLD Corporation announced a resource update for its 100%-owned Nelligan Project, located just 9 km from Northern Superior's Philibert Project and less than 2 km east of Northern Superior's Lac Surprise property.[2] 'With this new resource calculation at Nelligan, the Chibougamau Gold Camp now hosts over 12 million ounces across various categories, collectively owned by IAMGOLD and Northern Superior, making it one of the largest gold camps globally that is not controlled by a major producer. The camp increasingly draws comparisons to Kinross' Fort Knox mining complex in Alaska,[3]' said Simon Marcotte, President and Chief Executive Officer. Northern Superior firmly believes that its projects in the area, namely Philibert, Lac Surprise, and Chevrier, hold strategic value where the camp could benefit from optimization by prioritizing both higher-grade material and material with higher recovery to enhance the camp's economics. Notably, Philibert already boasts an average grade of 1.1 g/t, but when applying a 0.5 g/t cutoff, the grade increases by more than 20% to approximately 1.33 g/t while retaining approximately 90% of its total ounces.[4] Furthermore, metallurgical testing at Philibert showed flotation concentrate recoveries of up to 95.6% (see press release dated July 6, 2023). Northern Superior also views the Lac Surprise Project as having a strong geological continuity with Nelligan, reinforcing its potential as a high-value exploration target Drilling Results Drillholes PB-24-457 through PB-24-463 targeted the hanging wall zone from 700 to 900 metres east of the current Mineral Resource Estimate ('MRE') pit. Results confirm the potential for further expansion along strike, demonstrating both higher-grade intervals and broader zones of lower-grade mineralization. These drillholes extended exploration beyond the pit boundary and tested potential mineralization in previously unexamined sections over a 185-metre strike length. Drill hole PB-25-476 tested the Grey Fox zone under the current Mineral Resource Estimate ('MRE') pit. See Figure 1 for a plan map of the drilling. Figure 1: Plan Map of Philibert 2024 Diamond Drilling Drill hole PB-25-476 returned 2.5 g/t Au over 8.4 metres, including 6.47 g/t Au over 1 metre from the upper footwall of the Grey Fox zone and 2.89 g/t Au over 10.6 metres, including 5.15 g/t Au over 5.3m from the footwall of the Grey Fox Zone. The intersection tested mineralization at 160 metre vertical depth and approximately 40 metres below the current MRE pit. The 2025 program has focused on expanding the depth of the mineralization in the southeast end of the current pit. More results are expected to be reported in the near future. See Figure 2 below for section L08880W including drill holes PB-24-457, PB-24-458 and PB-24-462. Drill hole PB-24-462 returned 0.78 g/t Au over 21.5 metres including 7.45 g/t over 0.8 metres and 6.55 g/t Au over 1.0 metre focused along the litho-structural contact of mafic volcanic, argillite and the Philibert gabbro. The intersection is highly fractured, silicified with variable sulphide abundances. Drill holes PB-24-457 and PB-24-458 intersected the contact up-dip over narrow widths returning 2.2 g/t Au over 2.1 metres and 0.53 g/t Au over 8.7 metres respectively. Figure 2: Section L08880W at 80 metres width, looking northwest, Au g/t filtered > 0.1 g/t Au See Figure 3 below for section L08800W including drill holes PB-24-459, PB-24-460 and PB-24-463. Drill hole PB-24-459 returned 3.59 g/t Au over 7.7 metres including 8.53 g/t over 3.0 metres focused along the hanging wall litho-structural contact. The intersection is highly fractured, silicified and host variable sulphide abundances. Drill hole PB-24-463 intersected the contact up-dip across significant widths with modestly anomalous grades and further downhole intersected some isolated anomalous values that correspond to mineralized zones along strike from historic drilling. PB-24-463 also intersected a quartz feldspar porphyry interval at the base of the hole that returned some weakly anomalous background gold values. Drill hole PB-24-458 intersected the contact down dip although at lower grades and widths but may have been drilled short of the new interpreted zone. This is also the case for drill hole PB-24-461 drilled 80 metres east of section L08800W where the last sample returned 0.40 g/t over 1 metre. The Company is planning to extend this hole in the near future. Figure 3: Section L08800W at 80 metres width, looking northwest, Au g/t filtered > 0.1 g/t Au The drilling confirmed that the northern contact of the Philibert gabbro remains a highly prospective target, with strong deformation, silicification, and sulphide mineralization associated with litho-structural contact. Additional work, including litho-geochemical sampling and structural analysis, is ongoing to refine future drill targeting. Further drilling is planned to better delineate these zones and assess their strike extensions to the east and west. Table 2: Significant Drillhole Intersections Table 2: Drill holes collars and parameters Drilled Name Easting Northing Elevation Azimuth Dip Final Depth PB-24-457 530404 5479752 384 210 -55 252 PB-24-458 530482 5479827 385 210 -55 252 PB-24-459 530552 5479789 385 210 -50 252 PB-24-460 530644 5479953 385 210 -50 372 PB-24-461 530717 5479917 385 210 -48 363 PB-24-462 530577 5479986 375 210 -48 375 PB-24-463 530479 5479683 385 210 -55 291 PB-24-464 530297 5479832 384 210 -50 225 PB-25-476 529582 5480358 380 210 -50 285 Chibougamau Gold Camp The Chibougamau Gold Camp is rapidly emerging as one of the world's most sought-after gold destinations with several complementary gold resources reaching viable scale. Only two years ago, these critical assets were divided amongst five different companies. Today, largely due to Northern Superior's acquisitions and corporate transactions,[5] 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 below in notes 6, 7, 8 and 9. Qualified Person ('QP') The technical content and drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101"). The content has been reviewed and approved by Ms. Melanie Pichon, Senior Geologist for Northern Superior. Ms. Pichon is a QP under the NI 43-101 and is not considered independent. Northern Superior adheres to strict protocols following the NI 43-101 best practices when conducting exploration works. Sampling and assay results are monitored with a strict QAQC protocols. Drilled core is processed and assayed in Northern Superior's facilities in Chapais, Quebec. Core samples (half core) are transported to Agat Laboratory in Val d' are analyzed by fire assay with a 50-gram charge with an Atomic Absorption (AA) finish. Samples returning assay values over 10.0 grams are re-assayed with a gravimetric finish. QAQC consists of 4% of blank material, certifies standards and duplicates inserted in the assay sequences by Northern Superior. 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 72% of ONGold Resources Ltd. (TSXV: ONAU) which is advancing promising exploration assets in Northern Ontario, including the district scale TPK Project. The Philibert Project is located 9 km from IAMGOLD Corporation's Nelligan[6] Gold project. Philibert hosts a maiden 43-101 inferred resource of 1,708,800 ounces Au and an indicated resource of 278,900 ounces of Au.[7] Northern Superior holds a majority stake of 75% in the Philibert Project, with the remaining 25% owned by SOQUEM, and retains an option to acquire the full 100% ownership of the project. Chevrier hosts an inferred mineral resource of 652,000 ounces Au (underground and open pit) and an indicated mineral resource of 260,000 ounces Au.[8] Croteau hosts an inferred mineral resource of 640,000 ounces Au.[9] Lac Surprise hosts the Falcon Zone Discovery, interpreted to be the western strike extension of IAMGOLD Corporation's Nelligan Gold project. 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 or the Company's profile on SEDAR+ at 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. 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) 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 25% (to own 100%) of the Philibert Project for a cash payment of CAD$3.5 million. [2] Results at Nelligan are not indicative of the potential of any neighbouring properties [3] See National Bank Financial research note dated June 17, 2024 [4] See Philibert Technical Report dated September 22, 2023, page 112, available on Sedar+ [5] Including Northern Superior acquisitions of Genesis Metals Corp. and Royal Fox Gold Inc. [6] 'lAMGOLD Announces Significant Increase in Nelligan Ounces & Update of Global Mineral Reserves and Resources"; 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, October 23, 2024, and February 20, 2025. [7] 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. [8] 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. [9] 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 Northern Superior Resources Inc.
Associated Press
31-01-2025
- Business
- Associated Press
Northern Superior Announces Board Recalibration to Original Size
TORONTO, ON / ACCESS Newswire / January 31, 2025 / Northern Superior Resources Inc. ('Northern Superior' or the 'Company') (TSXV:SUP)(OTCQB:NSUPF)(GR:D9M1) announces that its Board of Directors (the 'Board') has returned to its original size of seven (7) directors following the resignation of Mr. Francois Perron. The Board had been temporarily expanded to eight (8) members with the recent appointment of Mr. Eric Desaulniers, Founder, President and Chief Executive Officer of Nouveau Monde Graphite Inc. The Board is now comprised of the following directors: Victor Cantore, Executive Chairman; Simon Marcotte, President and CEO; Michael Gentile; Eric Desaulniers; Andrew Farncomb; Frank Guillemette; and Peter Damouni. Victor Cantore, Executive Chairman of Northern Superior, commented: 'François has been an outstanding contributor to Northern Superior for many years, long before my involvement with the Company. His professionalism, insight, and integrity have made him a pleasure to work with, and we are truly grateful for his guidance and support over the years. While he is stepping down from the Board, we look forward to maintaining a strong and positive relationship with him. On behalf of the entire team at Northern Superior, I sincerely thank François for his contributions and wish him nothing but continued success in all his present and future endeavors.' 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 62% of ONGold Resources Ltd. (TSXV: ONAU) (OTCQX: ONGRF) which is advancing promising exploration assets, including Monument Bay and the district scale TPK Project; Agnico Eagle owns 15% of ONGold Resources Ltd. 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 or the Company's profile on SEDAR+. Simon Marcotte, CFA, President and Chief Executive Officer Contact Information Katrina Damouni 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.
