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Superior Gold Inc. Announces Further Positive Results from its Phase Two Drill Program at Hermes South

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Superior Gold Inc. Announces Further Positive Results from its Phase Two Drill Program at Hermes South

 

 

 

 

 

Superior Gold Inc. (TSX-V:SGI) is pleased to announce results from the recently completed phase two reverse circulation drill program at its Hermes South project. Hermes South is located approximately 20 kilometres south southwest of the Hermes open pit gold mine, which in turn is located 65 kilometres southwest of the Company’s 100%-owned Plutonic underground gold mine in Western Australia.

 

HIGHLIGHTS

 

  • 3.0 g Au/t over 16.00 metres from 137.00 metres downhole in Hole BHSRC082
  • 3.0 g Au/t over 14.00 metres from 81.00 metres downhole in Hole BHSRC064
  • 4.4 g Au/t over 9.00 metres from 98.00 metres downhole in Hole BHSRC068
  • 3.8 g Au/t over 10.00 metres from 151.00 metres downhole in Hole BHSRC095
  • 3.3 g Au/t over 11.00 metres from 123.00 metres downhole in Hole BHRSRC094
  • 10.9 g Au/t over 3.00 metres from 85.00 metres downhole in Hole BHSRC083
  • 3.2 g Au/t over 10.00 metres from 23.00 metres downhole in Hole BHRSRC100

 

The Hermes South project is within the Bryah Basin joint venture with Alchemy Resources Ltd. (ASX:ALY). The Company’s interest is up to 80% in the joint venture. The Company has previously announced (on April 3, 2018) an initial inferred mineral resource estimate for Hermes South of 1.29 million tonnes at an average grade of 1.54 g Au/t for 64,000 ounces (100% basis).

 

The phase two reverse circulation program was completed in October and totalled approximately 7,500 metres over 51 holes, including two holes that were deepened from the phase one program. The phase one reverse circulation program was completed in May and totalled approximately 6,900 metres over 45 holes. The goal of both programs was to expand the existing resource and to explore for additional zones of mineralization.

 

The location of drill holes in the current program are shown in relation to prior drilling and the existing resource in both plan and long section, respectively. All intersections are provided in Table 2.

 

Chris Bradbrook, President and CEO of Superior Gold stated: “These results are once again extremely encouraging and suggest the potential to increase the existing resource. The purpose of these drill programs is to determine the potential for the Hermes South project to become a second open pit mining operation. The project is strategically well located and can be readily connected to the main Hermes haul road. This work is part of our near term growth strategy to focus on reestablishing the Plutonic Gold operations at a sustainable production level of at least 100,000 ounces of gold annually. Our goal is to provide an updated reserve and resource estimate in the first quarter of 2019 using drill results to the end of 2018.”

 

Table 1 – Key Intersections

 

 

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)
BHSRC021 685641 7155522 569 -60 24 204 80.00 82.00 2.00 14.7 1.4
              176.00 182.00 6.00 2.8 4.2
BHSRC048 685160 7155629 577 -60 24 162 127.00 136.00 9.00 2.6 6.3
BHSRC060 685537 7155573 568 -60 24 138 90.00 99.00 9.00 1.6 6.3
BHSRC062 685525 7155555 568 -60 24 156 121.00 138.00 17.00 1.5 11.9
          Including 134.00 138.00 4.00 2.7 2.8
BHSRC064 685116 7155398 573 -60 24 102 81.00 95.00 14.00 3.0 9.8
          Including 86.00 89.00 3.00 4.9 2.1
          and 90.00 95.00 5.00 4.5 3.5
BHSRC065 685526 7155603 567 -60 24 120 70.00 72.00 2.00 5.4 1.4
BHSRC066 685534 7155619 568 -60 24 114 69.00 73.00 4.00 3.0 2.8
BHSRC067 685529 7155508 569 -60 24 192 73.00 76.00 3.00 3.9 2.1
BHSRC068 685563 7155580 569 -60 24 156 98.00 107.00 9.00 4.4 6.3
BHSRC082 685571 7155549 570 -60 24 180 137.00 153.00 16.00 3.0 11.2
          Including 149.00 153.00 4.00 5.9 2.8
BHSRC083 685554 7155610 568 -60 24 126 85.00 88.00 3.00 10.9 2.1
BHSRC087 685648 7155549 569 -60 24 192 144.00 146.00 2.00 5.3 1.4
BHSRC094 685188 7155628 576 -60 24 174 123.00 134.00 11.00 3.3 7.7
          Including 125.00 132.00 7.00 4.5 4.9
BHSRC095 685172 7155596 574 -60 24 192 151.00 161.00 10.00 3.8 7.0
          Including 155.00 161.00 6.00 5.2 4.2
BHSRC097 685203 7155569 573 -60 24 222 168.00 179.00 11.00 2.2 7.7
BHSRC099 685389 7155600 569 -60 24 234 42.00 50.00 8.00 1.5 5.6
              142.00 148.00 6.00 2.2 4.2
BHSRC100 685433 7155596 568 -60 24 192 23.00 33.00 10.00 3.2 7.0
BHSRC101 685424 7155575 568 -60 24 204 174.00 179.00 5.00 3.8 3.5
BHSRC102 685561 7155525 570 -60 24 240 46.00 48.00 2.00 6.5 1.4
              132.00 134.00 2.00 4.2 1.4
BHSRC103 685594 7155505 569 -60 24 222 145.00 150.00 5.00 3.0 3.5
BHSRC104 685241 7155554 573 -60 24 270 190.00 196.00 6.00 3.7 4.2

 

 

Qualified Person

 

Scientific and technical information in this news release has been reviewed and approved by Pascal Blampain, who is a member of the AusIMM and the Australian Institute of Geoscientists (AIG) and a “qualified person” within the meaning of NI 43-101. Mr. Blampain is an employee of the Company and serves as Chief Geologist.

 

Quality Control Protocols

 

Hermes South drilling has been completed using Reverse Circulation drilling. Samples are collected for every metre directly off the cyclone using a cone splitter, set to approximately 3kg sample size. All gold results were determined 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 underground Plutonic gold mine, which is a producing underground operation with a central mill, the Hermes open pit gold mine and up to an 80% 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 November 29, 2018

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