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Superior Gold Intersects 14.8 g/t Over 13.4 Metres as it Extends the Baltic Gap Mining Front at Plutonic

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Superior Gold Intersects 14.8 g/t Over 13.4 Metres as it Extends the Baltic Gap Mining Front at Plutonic

 

 

 

 

 

Superior Gold Inc. (TSX-V: SGI) is pleased to announce high-grade drill results from its ongoing underground diamond drill program at its 100%-owned Plutonic Gold mine in Western Australia.  Plutonic is a world-class Archean lode-style gold mineralized system that has produced close to six million ounces of gold to date and encompasses a Measured and Indicated Mineral Resource of 1.89 million ounces together with an Inferred Mineral Resource of 3.07 million ounces.  The Company’s continuous exploration effort underpins a commitment to resource growth.

 

Results are provided for 18 underground exploration and infill drill holes for a total of 2,143 metres of drilling.  Significant intercepts (intercepts above 4.5 gram-metres) were recorded in 78% of the holes drilled, representing a very strong hit ratio.  Drilling during April 2021 was focused on extending and infilling the Baltic Gap mining front which has yet to be fully drill tested.

 

HIGHLIGHTS

  • Drill hole UDD24342 intersected 14.8 g/t gold over 13.4 metres in the Baltic Gap mining front
  • This new mining front now extends approximately 350 metres by 200 metres outside of the current Mineral Resource estimate
  • The new Baltic Gap mining front is also directly adjacent to existing underground infrastructure, thus requiring minimal capital to develop the area
  • Today’s drill results continue to support the Company’s strategy of opening new high-grade mining fronts in the Plutonic underground

 

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

 

Tamara Brown, Interim CEO of Superior Gold stated: “We continue to demonstrate the continuity and high-grade nature of the mineralized gold system at Plutonic.  Today’s drilling results show continued growth of the new Baltic Gap mining front, which now extends over an interpreted strike length of 350 metres and up to 200 metres down dip, while remaining open along strike and at depth (refer to the News Release dated March 29, 2021).  Results such as drill hole UDD24342, which intersected 14.8 g/t gold over 13.4 metres, give us further confidence in mining higher grades at Plutonic in the future.

 

Results to date support our view that the Baltic Gap is an important new area of production at Plutonic.  The Baltic Gap results are now drilled at an average spacing of 20 metres, but are not yet included in our current Mineral Resource estimates.

 

The expansion into new mining fronts is a key component of our current strategy to extend Plutonic’s mine life and increase production by further improving both our mining grades and efficiencies.  We look forward to continuing to update the market on our ongoing drill program which has just completed a drilling campaign in the Baltic West zone, focused on expanding the Western Mining Front. This includes following up on results from the first quarter of 2021, which included 13.7 g/t gold over 8.8 metres (hole UDD23656) (refer to the News Release dated March 1, 2021).”

 

EXTENSION OF THE BALTIC GAP MINING FRONT

 

Superior Gold’s mine exploration program is designed to open new mining fronts by targeting extensions of high-grade mineralization that are close to existing infrastructure but outside of the current Mineral Resource estimate.  Numerous significant historical high-grade intercepts, both throughout and peripheral to the large mineralized Plutonic system, have yet to be followed up. The immediate focus is on expanding two key areas to open new mining fronts, these being: 1) The Western Mining Front (along the Caspian, Indian and Baltic zones); and 2) The Baltic Gap as shown in Figure 4.

 

The Baltic Gap Mining Front extends approximately 700 metres along the northern edge of the Baltic zone of the Plutonic orebody and remains open, with several historic high-grade intercepts indicating continuity of mineralization outside of the current Mineral Resource envelope (Figure 4).

 

Drilling in 2020 identified significant high-grade mineralization north of the Baltic zone, including 40.4 g/t gold over 6.5 metres (hole UDD22310) (refer to the News Release dated June 24, 2020).  Drilling in the first quarter of 2021 further extended this new Baltic Gap zone of mineralization, including 21.8 g/t gold over 8.3 metres and 13.4 g/t gold over 5.0 metres (hole UDD23880) (refer to the News Release dated March 29, 2021).  The Company believes that today’s drill results confirm that high-grade zones of mineralization now continuously extend approximately 200 metres northwards into the Baltic Gap zone, along a strike length of 350 metres (Figure 2).  Results include 14.8 g/t gold over 13.4 metres (hole UDD24342).

 

A key implication of these results is that the data supports the theory that the highest grade mineralization at Plutonic is controlled by the northwest trending faults.  Multiple downhole intercepts confirm typical Plutonic mineralization which comprises a high-grade stacked lode system. These drill results are adjacent to existing infrastructure which translates to minimal capital expenditures required to infill drill and develop the area.

 

Importantly, today’s results also continue to infill the gap between the Baltic zone and Baltic Extension zone, encouraging Management that the mineralization continues between the two zones minimizing the capital required to access the Baltic Extension zone.  A separate mining front in the Baltic Gap would be established while accessing the Baltic Extension zone. The Baltic Extension zone is an area of future development for the Company which currently contains 26,000 ounces of Measured and Indicated Mineral Resources and 102,000 ounces of Inferred Resources and is open on strike and dip.

 

Table 1: Highlights of Second Quarter 2021 Drill Results from Baltic Gap

 

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)
UDD24336 4075 11935 860 4 290 74 57.70 58.70 1.00 17.5 0.7
UDD24340 3997 11882 846 -18 323 195 94.40 96.20 1.80 23.0 1.3
UDD24341 3969 11862 841 -12 318 90 42.80 43.80 1.00 12.4 0.7
UDD24342 3979 11869 843 -19 322 114 22.60 36.00 13.40 14.8 9.4
Including 22.60 32.00 9.40 19.1 6.6
Including 33.50 36.00 2.50 7.2 1.8
UDD24351 3847 11867 832 -24 2 186 175.90 176.90 1.00 60.0 0.7
UDD24353 3866 11865 832 -24 6 168 93.35 96.35 3.00 2.9 2.1
102.00 108.45 6.45 2.8 4.5
UDD24354 3858 11866 832 -34 5 174 148.70 154.24 5.54 4.5 3.9
UDD24357 3842 11868 831 -60 24 63 14.00 16.70 2.70 9.0 1.9
48.30 50.00 1.70 6.3 1.2
54.00 55.00 1.00 9.0 0.7
UDD24359 3861 11861 833 39 172 60 13.20 15.30 2.10 4.1 1.5
UDD24360 3807 11862 834 18 198 57 53.00 55.60 2.60 3.8 1.8
Note: Mine grid co-ordinates shown.

 

Table 2: Complete Second Quarter 2021 Drill Results from Baltic Gap

 

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
UDD24336 4075 11935 860 4 290 74 57.70 58.70 1.00 17.5 0.7
UDD24336 69.00 70.00 1.00 3.4 0.7
UDD24337 4067 11929 858 -6 290 90 59.70 60.70 1.00 2.8 0.7
UDD24337 86.00 87.00 1.00 6.1 0.7
UDD24338 4050 11917 855 -5 292 60 35.60 36.60 1.00 2.5 0.7
UDD24338 42.10 43.10 1.00 3.1 0.7
UDD24339 4016 11895 850 -13 324 183 44.10 45.10 1.00 7.2 0.7
UDD24339 72.40 72.80 0.40 2.3 0.3
UDD24339 102.10 102.90 0.80 2.1 0.6
UDD24339 154.00 154.70 0.70 5.7 0.5
UDD24340 3997 11882 846 -18 323 195 16.25 17.25 1.00 5.0 0.7
UDD24340 94.40 96.20 1.80 23.0 1.3
UDD24341 3969 11862 841 -12 318 90 31.00 32.00 1.00 3.5 0.7
UDD24341 42.80 43.80 1.00 12.4 0.7
UDD24342 3979 11869 843 -19 322 114 22.60 36.00 13.40 14.8 9.4
Including 22.60 32.00 9.40 19.1 6.6
UDD24342  Including 33.50 36.00 2.50 7.2 1.8
UDD24342 66.00 67.00 1.00 2.2 0.7
UDD24342 69.50 70.10 0.60 3.5 0.4
UDD24343 3897 11806 833 60 282 41 No significant Intercepts
UDD24351 3847 11867 832 -24 2 186 3.20 3.70 0.50 3.5 0.4
UDD24351 12.35 13.20 0.85 2.2 0.6
UDD24351 161.20 162.20 1.00 5.4 0.7
UDD24351 175.90 176.90 1.00 60.0 0.7
UDD24352 3834 11869 832 -34 3 177 161.20 162.20 1.00 2.4 0.7
UDD24353 3866 11865 832 -24 6 168 88.00 89.00 1.00 3.4 0.7
UDD24353 93.35 96.35 3.00 2.9 2.1
UDD24353 102.00 108.45 6.45 2.8 4.5
UDD24353 119.30 119.85 0.55 2.6 0.4
UDD24353 130.30 130.85 0.55 3.4 0.4
UDD24353 148.75 150.15 1.40 5.7 1.0
UDD24354 3858 11866 832 -34 5 174 11.45 12.10 0.65 4.6 0.5
UDD24354 15.10 16.35 1.25 2.5 0.9
UDD24354 140.30 141.11 0.81 2.6 0.6
UDD24354 143.50 144.67 1.17 2.8 0.8
UDD24354 145.90 146.30 0.40 3.7 0.3
UDD24354 148.70 154.24 5.54 4.5 3.9
UDD24355 3847 11867 831 -44 2 171 64.10 64.55 0.45 14.5 0.3
UDD24355 92.50 93.50 1.00 3.4 0.7
UDD24355 113.00 114.00 1.00 3.7 0.7
UDD24355 118.20 119.20 1.00 2.7 0.7
UDD24355 163.70 164.00 0.30 2.4 0.2
UDD24355 164.55 165.10 0.55 2.4 0.4
UDD24356 3850 11867 832 -42 22 93 16.75 17.75 1.00 4.1 0.7
UDD24356 53.50 54.20 0.70 4.9 0.5
UDD24357 3842 11868 831 -60 24 63 14 16.7 2.7 9.0 1.9
UDD24357 16 16.7 0.7 30.2 0.5
UDD24357 48.3 50 1.7 6.3 1.2
UDD24357 54 55 1 9.0 0.7
UDD24358 3816 11868 832 -60 16 147 78.60 79.15 0.55 3.2 0.4
UDD24358 90.00 90.40 0.40 3.3 0.3
UDD24358 94.40 95.40 1.00 2.3 0.7
UDD24358 109.30 111.40 2.10 2.2 1.5
UDD24359 3861 11861 833 39 172 60 11.05 11.70 0.65 2.9 0.5
UDD24359 13.20 15.30 2.10 4.1 1.5
UDD24359 24.00 25.00 1.00 2.5 0.7
UDD24359 36.00 36.55 0.55 6.6 0.4
UDD24359 41.80 42.55 0.75 5.8 0.5
UDD24359 47.80 48.40 0.60 2.3 0.4
UDD24359 57.65 58.00 0.35 4.9 0.2
UDD24360 3807 11862 834 18 198 57 47.50 48.40 0.90 3.6 0.6
UDD24360 53.00 55.60 2.60 3.8 1.8

 

Technical Report

 

The technical report supporting the mineral resources identified in this press release is entitled, “2020 Mineral Resource and Reserve Estimate for the Plutonic Gold Operations Including Main Open Cut Pit Area”, is dated December 30, 2020, is effective December 31, 2019 and is available under Superior Gold’s profile on SEDAR at www.sedar.com and on the Company’s website at www.superior-gold.com.

 

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

 

Drilling is completed with NQ2 core diameter (50.7 mm) and samples are completed with combination of whole core and half core. Gold results were determined by ALS Minerals (Perth) and/or Plutonic laboratory using fire assay fusion.  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.

 

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, numerous open pit projects including the Plutonic Main Pit push-back project, 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 23, 2021

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