Northern Superior Resources Inc. (TSX-V:SUP, OTCQX:NSUPF) is planning an extensive nine-month exploration plan for its Philibert gold property in Québec.
The exploration program follows the 2023 Mineral Resource Estimate, which reported 48.46 million tonnes of inferred mineral resource averaging 1.10 grams of gold per tonne for 1.7 million ounces of gold, and 7.88 million tonnes of indicated mineral resource averaging 1.10 grams of gold per tonne for 278,920 ounces of gold.
The company's $8 million equity financing will support over 20,000 meters of expansion drilling.
Drilling will target areas along the east and west strike extensions and the hanging wall trend north and down dip of the open pit resource.
Historic drilling results have indicated substantial gold mineralization, with notable intersections including 2.17 g/t Au over 17.9 meters and 1.76 g/t Au over 7.0 meters.
The exploration plan also includes geochemical and geophysical surveys to refine target zones, further metallurgical testing to enhance recovery rates, and 10,000 meters of sampling from historic drill cores. Additionally, the company will explore the underground potential of the project, building on a previous study that estimated 239,000 ounces of gold at 5.68 g/t from western domains.
"The Philibert project has already demonstrated significant potential with its initial NI 43-101 resource estimate published in 2023, showcasing a relatively high-grade profile for a bulk tonnage operation,” Northern Superior CEO Simon Marcotte said in a statement.
Marcotte highlighted the project's significant potential, noting its high-grade profile, minimal overburden, and promising initial metallurgical results.
“These attributes firmly position the Philibert project as a cornerstone of the Chibougamau Gold Camp, which is rapidly gaining recognition as it nears the 10-million-ounce mark, with key deposits located within 10 km of one another,” Marcotte added.
The Philibert property is seen as a cornerstone asset in the Chibougamau Gold Camp, which is approaching a combined resource of 10 million ounces of gold from nearby deposits. This exploration effort aims to solidify Philibert's position within this burgeoning gold camp.