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Published in House and Home on Wednesday, July 8th 2009 at 4:11 GMT, Last Modified on 2009-07-08 04:12:04 by Market WireSUDBURY, ONTARIO--(Marketwire - July 8, 2009) - Northern Superior Resources Inc. ("Northern Superior" or the "Company") (TSX VENTURE:SUP) is pleased to announce that exploration has commenced to define the source of the gold grain-in-till dispersal trains on its Thorne Lake gold property.
Dr. T.F. Morris, president and CEO commented: "Following a careful examination of the 2008 overburden sampling results and comprehensive geological report, Northern Superior is now exploring for the source of the three gold grain-in-till dispersal trains identified on its Thorne Lake gold property. To better define the source of the gold grains in these dispersal trains, geological mapping and sampling of bedrock and detailed overburden sampling will be completed by the end of July 2009. The results from this work will more clearly define gold targets for drilling in August 2009.
The Thorne Lake Gold Property is located approximately 80 kilometers north of the First Nation of Sachigo Lake in northwestern Ontario. The property is composed of 30 mining claims consisting of 512 units covering 7,680 hectares. It is located 15 kilometers due west of the past-producing Sachigo River gold mine in the Ellard Lake greenstone belt. This mine produced 52,560 ounces of gold at an average grade of 1.1 ounces of gold per ton (38.8 grams of gold per tonne) between 1938 and 1943.
During the Fall of 2008, Northern Superior completed an overburden sampling program over the property. Gold grain results defined three gold grain-in-till dispersal trains, two of which are very similar to dispersal trains extending off the Sachigo River gold mine (see press release January 26th, 2009). Most significantly, one overburden sample, collected from the Property during the 2008 fall exploration program, contained 476 gold grains, 454 of which are pristine from a 10.6 kg sample. The best gold grain result associated with the Sachigo River gold mine contained 69 gold grains, 57 of which were pristine from a 7.7 kg sample collected by the Ontario Geological Survey within 100m of the Sachigo River mine site. The implication of these results is that the Thorne Lake property has a very strong potential to host gold mineralization and we are looking forward to exploring this project further.
International Nickel Ventures Corporation (INV) entered into an option agreement with Northern Superior May 28th, 2009 (see press release May 28th, 2009). Under the terms of the agreement, INV may earn a 50% interest in the Thorne Lake property by funding $1.5 million in exploration expenditures over four years, with a first year commitment of $500,000. Upon INV completing its funding obligations, a joint venture will be formed with INV and Northern Superior both holding a 50% interest in the property. During the earn-in period, Northern Superior will remain the operator of the exploration project. INV may elect to sole-fund additional work programs, after earning its 50% interest, through to the completion of a pre-feasibility study to earn a maximum 60% interest.
About Northern Superior
Northern Superior Resources Inc. is a junior exploration company whose focus is exploring for gold on the Superior Province of the Canadian Shield. The Company is a reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol SUP. Don Boucher, Vice President Exploration is the Qualified Person for the Company under NI 43-101, responsible for the technical content of this Press Release.
This news release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, exploration results and future plans and objectives of Northern Superior are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Northern Superior's expectations are exploration risks detailed herein and from time to time in the filings made by Northern Superior with securities regulators.
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 release.
