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Northern Superior Resources Inc.

Publié le 14 janvier 2016

Croteau-Est Gold Property Inferred Mineral Resource Estimate - 01/14/2016

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Croteau-Est Gold Property Inferred Mineral Resource Estimate - 01/14/2016

Press Release - Croteau-Optiro - Jan 14-16 (FINAL) (00146021.DOCX;1)


NORTHERN SUPERIOR RESOURCES INC.

1351C Kelly Lake Road Sudbury, Ontario, Canada P3E 5P5

Tel: (705) 525- 0992

Fax: (705) 525- 7701


NEWS RELEASE - For Immediate Release

Northern Superior announces Inferred Mineral Resource Estimates at its Croteau Est Gold Property, West- Central Québec.

Highlights:

  • Inferred Mineral Resource estimate for the central section (approximately 550m strike by 150m width) of the Croteau Bouchard Shear Zone ("CBSZ") reported using a gold cut-off of 1.0 g/t Au totaling 11.6 million tonnes grading 1.7ppm Au, yielding 640,000 ounces of gold;

  • The Inferred Mineral Resource estimate is based on 64 core drill holes (20,643 m);

  • An exploration potential/target, ranging from 3.2 to 3.8 million tonnes, for a total of 122,000 to 270,000 ounces of gold, was identified by mineralization defined by single drillhole intersections (see cautionary language noted in the discussion below); and

  • Mineralization occurs at surface, and remains open along strike in both directions (length defined thus far 1.1km) and at depth (only one hole to 575m vertical depth).


Sudbury, Ontario, January 14, 2016 - Northern Superior Resources Inc. (TSXV:SUP) ("Northern Superior" or the "Company") reports that the Company has received a National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") Technical Report dated September 28, 2015, prepared by Optiro Pty Limited (the "Optiro Report"), which includes Inferred Mineral Resource estimates (see Table 1) for the central part of the CBSZ. The CBSZ is located within Northern Superior's 100% owned Croteau Est gold property, west-central Québec.


Table 1. Croteau Est September 2015 Mineral Resource appropriate for public reporting at 1.0 ppm gold cut-off.


Category

Tonnes (Mt)

Gold grade (Au g/t)

Gold ounces (Koz)

Inferred Mineral Resource

11.6

1.7

640


Due to the inherent sample support issues associated with including channel sample assay data into resource models, previously reported high grade assay values from several trench exposures across the central CBSZ were excluded from the Optiro Report and model (see press releases: October 12, 2011; November 12, 2013; November 3, 2014).


Dr. T.F. Morris, President and CEO of Northern Superior commented: "Northern Superior management believes that the Inferred Mineral Resource estimates presented by the Optiro Report represent a great start to understanding the gold potential of the CBSZ specifically, and the Croteau Est property as a

whole. On the CBSZ alone, a tremendous opportunity exists to expand the number of gold ounces within the CBSZ based on the premise that additional exploration may:


  1. upgrade some of the exploration potential/target of the CBSZ;

  2. convert part of the Inferred Mineral Resource to Indicated Mineral Resource category by infill drilling of core drill holes, from 50m x 50m to 25m x 25m;

  3. add additional gold ounces by inclusion of the high grade gold values previously reported from channel samples cut in several trenches at surface within the central part of the CBSZ in future modelling;

  4. identify potential high grade rods or shoots within the CBSZ (see press release: November 3, 2014) with tighter collar spacing; and

  5. identify additional gold ounces along strike (east and west) of the central CBSZ and at depth, as the system is open in those directions."


Management at Northern Superior has always maintained that the CBSZ is a small component of a much larger gold mineralized system on the property, based not only on management's observations but from those recommendations made from several qualified consultants who have worked on the project. Northern Superior hopes to find a partner that will assist the Company to realize the potential at the CBSZ."


Optiro Report Recommendations Include:


  • Infill drilling of the central section of the CBSZ deposit to 25 x 25m drill hole spacing to potentially upgrade the classification of this area to Indicated Mineral Resource category; and

  • Exploration drilling to test along strike extensions of the central CBSZ deposit, in particular on the eastern end of the deposit, where there are three drill holes that have mineralized intervals consistent with the projection of the CBSZ. These intersections may suggest either an isolated zone of mineralization, or continuation of mineralization of an unknown extent along the CBSZ.


    Inferred Mineral Resource Classification:


  • The Inferred Mineral Resource estimates have been generated from drill hole sample assay results and the interpretation of an integrated 3D geological model that defines the relationships of various geological elements within the CBSZ. The interpreted mineralization wireframes (using a nominal 0.25 ppm Au cut-off grade) have been used to constrain gold grade estimates.

  • Block grade estimation parameters have been defined on the basis of geology, drillhole spacing, and through geostatistical analysis of the data. Block grade estimation is by ordinary kriging (OK) into a panel size of 12.5 mE by 2.5 mN on 2.5 mRL, which is considered appropriate for the distribution of sample data and the deposit type.

  • The Inferred Mineral Resource estimates have been classified by their proximity to the sample locations and confidence in the block model grade estimate, and have been reported in accordance with the guidelines of the JORC Code (JORC, 2012). The JORC Code was used because the company's former partner on the project was an ASX and TSX listed company with an Australian head office. The company's QP (defined below) is confident there are no material differences between JORC Code guidelines regarding inferred mineral resources and those set forth in Standards on Mineral Resources and Reserves of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM, 2010).

  • A more detailed description on the modelling and statistical parameters used to determine the Inferred Mineral Resource estimates are provided within the Optiro Report.


Exploration Potential/Target:


The Optiro Report also identified additional mineralized material on the CBSZ which lacked sufficient confidence to be classified as an Inferred Mineral Resource but that the uncertainty with this material is such that with further work, this could change and hence, represents an exploration potential/target. Specifically, the Optiro Report indicates an exploration potential range of 3.2 to 3.8 million tonnes, for a total of 122,000 to 270,000 ounces of gold. To evaluate the exploration potential, the unclassified mineralization above 1.0 g/t cut-off, was tabulated as being above/below 325 m below surface and by lode. Any mineralization associated with lode 1 (the main lode) was incorporated into the exploration potential. The lower range for the minor lode was estimated as follows: (i) below 325 m below surface, lodes greater than 2.0 g/t gold were included as exploration potential; and (ii) above 325 m below surface, lodes greater than 1.5g/t golf were included as exploration potential. The maximum range assumed that with further work, up to 100% of the unclassified mineralization may be upgraded. The Optiro Report further noted that more than 90% of this material is at depths greater than 325 m below surface and that a significant amount of work will be required to improve the confidence for this material. As such, caution must be exercised as the potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.


About Northern Superior


Northern Superior is a junior exploration company exploring for gold in the Superior Province of the Canadian Shield. The Company currently has 2 gold properties (Croteau Est, Lac Surprise) and 1 diamond exploration property (Ville Marie) in Québec and 1 gold, silver copper property in Ontario (Ti-pi-haa-kaa- ning). All these properties are 100% owned and operated by Northern Superior. All properties have core drill- ready targets defined on each. The Company also has one early stage mineral property in Québec, Wapistan. A summary for each of these properties is available on Northern Superior's website (www.nsuperior.com). Northern Superior has identified an additional 22 mineral properties in west- central Québec from it's in- house terabyte of geoscientific data.


The disclosure in this press release is based on excerpts taken from the Optiro Report, which was principally authored and certified by Mark Drabble, Principal Consultant at Optiro Pty Limited (B.App.Sci Geology, MAIG, MAusIMM). Mr. Drabble meets the requirements of an "independent" Qualified Person under NI 43-101. The Optiro Report will be filed on SEDAR (www.sedar.com) immediately following dissemination of this news release and will also be posted on Northern Superior's website (www.nsuperior.com). The Company's Qualified Person ("QP") for the Croteau Est property is Ron Avery (P.Geo.). As the QP, Mr. Avery has approved information disclosed in this press release.


Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP.


For more information, please visit www.nsuperior.com or contact:


Thomas F. Morris (President and CEO) 1351C Kelly Lake Road, Unit 7,

Sudbury, Ontario, Canada P3E 5P5 (705) 525- 0992 (telephone)


Neither 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 release.

Cautionary Note Regarding Mineral Reserves and Mineral Resources: The terms "Mineral Resource", "Indicated Mineral Resource", "Inferred Mineral Resource" used in this release are Canadian mining terms as defined in accordance with National Instruction 43-101 - Standards of Disclosure for Mineral Projects under the guidelines set out in the CIM Standards. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.


Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.


Figure 1. Cross section looking west illustrating drill traces and gold grade values intersected (Optiro, Figure 14.4 b, 2015).


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Northern Superior Resources Inc.

EXPLORATEUR
CODE : SUP.V
ISIN : CA6658041000
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Northern Superior Resources est une société d’exploration minière d'or basée au Canada.

Northern Superior Resources détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont BACHELOR LAKE, WACHIGABAU, THORNE LAKE, NORTH THELON URANIUM JV, VILLE MARIE DIAMOND, TI-PA-HAA-KAA-NING (TPK) et LESPERANCE au Canada.

Northern Superior Resources est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 213,4 millions CA$ (156,1 millions US$, 145,8 millions €).

La valeur de son action a atteint son plus haut niveau récent le 19 septembre 1997 à 9,60 CA$, et son plus bas niveau récent le 12 février 2016 à 0,01 CA$.

Northern Superior Resources possède 318 489 984 actions en circulation.

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Rapports annuels de Northern Superior Resources Inc.
2008 Annual report
Nominations de Northern Superior Resources Inc.
02/07/2013John Pollesel Joins Northern Superior’s Board of Directors
12/11/2012Fred Lecoq Joins Northern Superior's Board of Directors
Projets de Northern Superior Resources Inc.
21/01/2016Northern Superior expands its understanding and definition o...
28/02/2014Bold Ventures Signs Letter of Intent with Northern Superior ...
26/02/2014Reports New Gold-Bearing Shear Zones And Showings, Grizzly G...
12/11/2013Exploration Update Croteau Est West-Central Quebec
27/05/2013Agrees to Acquire Waconichi Gold Property, Chibougamau Gold ...
08/11/2012Intersects 25.8 g/t Gold Over 1.85m and Expands Croteau Est ...
12/09/2012Intersects High Grade Gold Zones and Expands Croteau Est Gol...
01/03/2012Reports Results from Gold-bearing Shear Zones, (Including 12...
11/01/2012Intersects Mineralized Porphyry System, (0.83 g/t Gold; 3.07...
12/10/2011N. Superior reports high grade gold, Croteau Prop.
21/09/2011N.Superior reports gold, Croteau Est Gold Property
14/04/2011(Ti-pa-haa-kaa-ning (tpk))Rainy River and Northern Superior Announce Initial Assays an...
04/02/2011(Ti-pa-haa-kaa-ning (tpk))and Northern Superior Announce Final Phase 1 Results and Com...
29/09/2010(Ti-pa-haa-kaa-ning (tpk))signs formal Option Agreement with Rainy River Resources
12/11/2009(Wachigabau)Additional Historical Gold Assay Results
29/10/2009(Thorne Lake)Intersects Gold-Bearing Shear Zones
16/09/2009(Ti-pa-haa-kaa-ning (tpk))Initiates Magnetic Gradiometer Survey
25/08/2009(Thorne Lake)Four Gold Showings Discovered on Thorne Lake Property, North...
08/07/2009(Thorne Lake)Explores for Source of Gold Grain-In-Till Dispersal Trains, ...
22/06/2009(Wachigabau)Initiates Wachigabau Exploration Program
Communiqués de Presse de Northern Superior Resources Inc.
02/08/2016Arthur Murdy Joins Northern Superior’s Board of Directors - ...
11/07/2016Bold Ventures and Northern Superior Announce Amber Drilling ...
23/06/2016Northern Superior Appeals Judgment Regarding its Action Agai...
25/05/2016Northern Superior Receives Litigation Judgement - 05/25/2016
03/05/2016Bold Ventures Mobilizes Drill to Amber Zone Gold Showing at ...
21/01/2016Northern Superior Expands its Understanding and Definition o...
14/01/2016Croteau-Est Gold Property Inferred Mineral Resource Estimate...
22/12/2015Northern Superior Resources Inc. Informed of Chalice Gold Mi...
22/12/2015Chalice’s Termination Announcement & NSR’s Response - 12/22/...
22/12/2015Chalice Gold Mines - Croteau Est Joint Venture Update
02/11/2015Grizzly Termination - 11/02/2015
02/11/2015Northern Superior Resources Announces Grizzly Property Optio...
07/10/2015Grizzly Gold Property Exploration Update - 10/07/2015
07/10/2015Northern Superior Reports Additional New Showing, Grizzly Pr...
05/10/2015Bold Ventures Completes Summer 2015 Gold Exploration Program...
05/10/2015Northern Superior's Plan to Keep Stakeholders Informed About...
29/09/2015Northern Superior Initiates Final Preparations for Trial Aga...
08/09/2015Litigation Update - 09/08/2015
08/09/2015Northern Superior Initiates Final Preparations for Trial Aga...
22/07/2015Northern Superior Initiates Next Generation Exploration Prog...
22/07/2015Northern Superior Initiates Next Generation Exploration Prog...
20/07/2015Chalice Gold Mines - June 2015 Quarterly Report and Cashflow...
23/04/2015Northern Superior Provides an Update on Its Litigation Again...
21/04/2015Chalice expands North American presence with farm-in deal on...
21/04/2015Northern Superior Resources Inc. and Chalice Gold Mines Limi...
13/03/2015s Board Committees and Management Responsibilities
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17/02/2015Bold Ventures Continues to Advance Lac Surprise Gold Potenti...
29/01/2014responds to Government of Ontario’s Statement of Defence
27/01/2014Lac Surprise Gold Property: An Excellent Opportunity In The ...
18/11/2013elaborates on legal action against the Government of Ontario...
25/10/2013commences legal action against the Government of Ontario
23/09/2013Recognized for Its Commitment to Progressive Aboriginal Rela...
16/07/2013Signs Option to Acquire 100% Interest in the Grizzly Gold Pr...
11/06/2013Signs Pre-Development Agreement with the Grand Council of th...
12/02/2013Initiates 2013 Drill Programs, Croteau Est/ Waconichi Gold P...
16/01/2013Continues to Intersect High Grade Gold Zones, Further Expand...
16/01/2013Continues to Intersect High Grade Gold Zones, Further Expand...
09/01/2013Ti-paa-haa-ka-ning, New Growth, New Growth Annex; A Renewed ...
10/12/2012Stock Options Issued
03/10/2012New Corporate Office
25/06/2012Drilling Discovers Gold Mineralization, New Growth Annex wit...
11/06/2012DRILLING EXPANDS CROTEAU EST GOLD DISCOVERY WITH GRADES UP T...
07/06/2012signs Option Agreement to acquire a 70% interest in Murgor R...
23/01/2012Intersects 32.6g/t Gold over 1.0 m, Rapson Bay Gold Property...
18/01/2012Rainy River Resources And Northern Superior Resources Announ...
11/01/2012Subject
19/12/2011Intersects Gold-Bearing Rock, Croteau Est Gold Property, Chi...
25/10/2011N. Superior Recovers Gold-Bearing Boulder
07/09/2011at The World Money Show, Toronto
09/05/2011at New York Hard Asset Conf.
20/02/2011N.Superior Ramps-Up Logistics for 2011 Expl. Prog.
20/02/2011Makes the “2011 TSX Venture 50”
04/02/2011Rainy River and Northern Superior Announce Final Phase 1 Res...
01/02/2011Increases Interest in Northern Superior Resources Inc.
31/01/2011Lake Shore Gold Increases Interest in Northern Superior Reso...
23/04/2010At Chicago Resource Expo.
06/04/2010Northwestern Ontario Prospectors Assoc. Meeting
05/03/2010Attends PDAC
15/01/2010Presenting at the Cambridge House Show, Vancouver
27/10/2009Defines Additional Gold Exploration Targets
19/06/2009adoption of Shareholders Rights Plan.
28/05/2009Signs Option Agreement with INV
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