Northern Superior Resources Inc. (TSX-V:SUP, OTCQX:NSUPF) has announced a Mineral Resource Estimate (MRE) for the Philibert gold property in Québec.
The gold exploration company said highlights included an estimated 278,921 Indicated ounces of gold along with 1,708,809 Inferred gold ounces at an average grade of 1.1 grams per tonne (g/t), using a cut-off grade of 0.35 g/t gold.
"With the Philibert Project having already achieved considerable size on its first NI 43-101 resource, coupled with its untapped potential, a relatively high-grade nature for a bulk tonnage operation which, generally speaking, provides for shorter payback periods, and attributes such as a low nugget effect, a low overburden cover, and favorable initial metallurgical recovery results, it is clear that the Philibert Project has firmly established itself as a cornerstone of the Chibougamau Gold Camp, which is swiftly gaining recognition," Northern Superior Resources CEO Simon Marcotte said in a statement.
Northern Superior noted the MRE does not include any of the underground potential, as the previous mineral resource estimate on Philibert focused exclusively on underground resources from the western domains.
The company added that further expansion is anticipated with certain zones along strike and down dip having proven to be mineralized while requiring further drilling to qualify as resource with the potential for parallel zones to replicate the Philibert mineralization to the north.
As well, Northern Superior stated that the work conducted to date on Philibert is based on 3 kilometres (km) of mineralization while geophysics is indicative of an additional 4km of mineralization spreading east and west.
Northern Superior Resources is a gold exploration company focused on the Chapais-Chibougamau camp in Québec. The company has consolidated the largest land package in the region, with total land holdings of more than 62,000 hectares.
Its main properties include Philibert, Lac Surprise, Chevrier and Croteau Est.
Contact Sean at sean@proactiveinvestors.com