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Superior Gold Inc. Announces Best Underground Exploration Intersection To Date Outside Of Existing Resource

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Superior Gold Inc. Announces Best Underground Exploration Intersection To Date Outside Of Existing Resource

 

 

 

 

 

Superior Gold Inc. (TSX-V:SGI) is pleased to announce results from the ongoing underground diamond drill program focused on reserve and resource expansion at its 100%-owned Plutonic Gold mine in Western Australia. The drilling targeted potential extensions to the gold mineralization within the Indian Zone.

 

Results are provided for 19 drill holes for a total of more than 1,855 metres of drilling.

 

KEY FINDINGS

 

  • 17 intersections encountered more than 5g Au/t
  • 7 intersections encountered more than 10g Au/t
  • 3 intersections encountered more than 20g Au/t
  • 1 intersection encountered more than 50g Au/t

 

The drilling was focused on the area to the northwest of the Indian Zone within an area that extends approximately 500 metres between the Indian and Baltic Zones which has yet to be fully drill tested.

 

The location of this drilling is shown in Figures 1-3. The key intersections are shown in Table 1 below and all intersections are provided in Table 2. Reported intersections are over a minimum downhole width of 0.30 metres (0.20 metres true width).

 

Chris Bradbrook, President and CEO of Superior Gold stated: “We are extremely pleased with these drill results, which we believe continue to illustrate the potential to extend and connect the Indian and Baltic Zones, expand resources, and extend mine life. The intersection of 56.3g Au/t over 15.10 metres is our most signficant intersection to date since we acquired the

Plutonic Gold Operations, and was encountered more than 50 metres from the existing resource outline. The drilling was completed over a strike length of approximately 200 metres and a vertical extent of more than 100 metres. Mineralization remains open both up and down dip and along strike, resides close to exisiting infrastructure, and is only approximately 600 metres from surface. The Indian and Baltic Zones are key components of our five year underground Life of Mine plan that was announced in October 2019. These results illustrate the potential to extend this plan well beyond the initial five years.”

 

HIGHLIGHTS

 

Key Intersections are summarized in Table 1 below:

 

 

Drill Hole
#
Easting (Mine Grid) Northing (Mine Grid) Drill hole collar RL (Mine Grid) Dip (degrees) Azimuth (degrees, Mine Grid) End of
hole depth
 (m)
Downhole
From
(m)
Downhole To
(m)
Downhole
Intersection
(m)
Au
(gpt)
uncut
Est True
Thickness
(m)
UDD22003 3906 11552 1004 -62 234 94 34.50 47.90 13.40 6.5 9.4
          Including 34.50 35.50 1.00 20.6 0.7
          and 39.70 45.00 5.30 11.9 3.7
UDD22011 3908 11584 1003 -54 237 75 45.60 60.70 15.10 56.3 10.6
UDD22013 3908 11584 1003 -34 237 113 66.10 73.20 7.10 10.2 5.0
          Including 66.10 69.90 3.80 18.3 2.7
UDD22016 3908 11584 1003 -59 260 115 74.40 77.60 3.20 5.5 2.2
          Including 75.60 76.60 1.00 14.6 0.7
              101.30 113.90 12.60 4.0 8.8
          Including 101.30 108.20 6.90 2.0 4.8
          and 112.90 113.90 1.00 35.7 0.7
UDD22017 3908 11584 1003 -49 272 118 52.50 57.00 4.50 4.7 3.2

 

Qualified Person

 

Scientific and technical information in this news release has been reviewed and approved by Keith Boyle, P.Eng., Chief Operating Officer of the Company, who is a “qualified person” as defined by National Instrument 43-101

 

Quality Control Protocols

 

Core is drilled BTW core diameter (42 mm).  Core intervals are whole core sampled.  All gold results were determined by on-site laboratory analysis and confirmed by ALS Minerals (Perth) using fire assay fusion (40g charge, lead collection method) with an ICP finish. Drill program design, Quality Assurance/Quality Control and interpretation of results are performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices.  Standards, blanks and duplicates are included in approximately every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the laboratory.  Approximately 5% of sample pulps are sent to secondary laboratories for check assays.

 

About Superior Gold

 

Superior Gold is a Canadian based gold producer that owns 100% of the Plutonic Gold operations located in Western Australia. The Plutonic Gold operations include the Plutonic underground gold mine and central mill, the Hermes open pit projects and an interest in the Bryah Basin joint venture. Superior Gold is focused on expanding production at the Plutonic Gold operations and building an intermediate gold producer with superior returns for shareholders.

 

 

Posted June 17, 2020

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