Northern Superior Resources Inc. Initiates Wachigabau Exploration Program
Northern Superior Resources Inc. announce the initiation of its 2009 Wachigabau property summer exploration program. This program consists of bedrock mapping, sampling and prospecting with the intent of defining drill targets for the fourth quarter.
Dr. T.F. Morris, president and CEO commented: “After the completion of a NI 43-101 report by Gestion Aline Leclerc on this project, a well defined exploration program has been recommended. From the assessment of public and internal data sets, the mineral potential of this property is very clear with several well defined gold targets having been identified in addition to the potential to make new discoveries. We are looking forward to identifying specific drill targets with this summer’s exploration program.”
Additional claims were acquired adjacent to the property’s north and northeast boundary. These claims are an important extension of the property over the Lake Opiwica- Gwillim Fault system. Several southern claims believed by management to have no mineral potential were dropped. The property now consists of 335 claims covering an area of 12,878 hectares.
This property is strategically located between the Lac Shortt gold mine to the northeast and the Coniagas zinc, lead and silver mine and Bachelor Lake gold mine and mill complex to the southwest. All these mines are associated with the Lake Opiwica- Gwillim Fault system. Mineralization known to occur on the Wachigabau property includes: 1) lode gold associated with quartz veining with values in drill hole intersections up to 5.39 g/t Au over 2.4m, 10.3 g/t Au over 0.3 m and 10.12 g/t Au over 1.0m; 2) Cu-Au remobilized along continuous fracture systems up to 2.62% Cu, 14 g/t Ag and 3.14 g/t Au over a 3.25m drill hole intersection; and 3) the potential for volcanogenic Cu-Zn massive sulphide mineralization. In addition, re-sampling and geochemical analysis of drill core from previous drill programs completed on the Property by Northern returned anomalous gold values of up to 550 ppb from a monzonitic dyke and 444 ppb Pt, 412 ppb Pd and 186 ppb Au from a gabbroic dyke.
The Wachigabau project is an option and joint venture agreement with Matamec Explorations Inc. (“Matamec”). Northern Superior has already started earning-in on its 50% of all mineral rights on the property. The Company has already paid $25,000 cash and issued 100,000 shares and 100,000 share purchase warrants to Matamec under the agreement. In addition, Northern Superior has already spent $75,000 of the $500,000 it is committed to spend on the property over three years. Once Northern Superior has met the requirements to earn its 50% interest, the Company and Matamec will form a 50- 50 joint venture for all commodities on the property. IAMGOLD retains certain back-in rights on some of the claims. Northern Superior is the operator of the project.
