TORONTO, Aug. 17, 2021 /CNW/ - Superior Gold Inc. ("Superior Gold" or the "Company") (TSXV: 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 Indicted 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.
Figure 1: Mineralized Zones at Plutonic Underground with Drill Hole Locations (Plan View) (CNW Group/Superior Gold)
Figure 2: Western Mining Front Extension Third Quarter 2021 Drill Hole Locations (Plan View) (CNW Group/Superior Gold)
Figure 3: Western Mining Front Significant Intercept Location (Cross Section – Looking South) (CNW Group/Superior Gold)
Figure 4: Plutonic Historical Significant Intercepts and Targeted New Mining Fronts (Plan View) (CNW Group/Superior Gold)
Results are provided for 52 underground exploration drill holes for a total of 8,451 metres of drilling. Drilling was focused on extending and infilling the Western Mining Front which remains open along strike and both up and down dip as it is yet to be fully drill tested.
HIGHLIGHTS
Drill hole UDD24141 intersected 42.2 g/t gold over 5.6 metres in the Caspian zone
Drill hole UDD24376 intersected 17.7 g/t gold over 6.4 metres in the Baltic Extension zone
The new Western Mining Front now extends an estimated 1,600 metres by 60 metres outside of the current Mineral Resource envelope
The new Western Mining Front is 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 at the Western Mining Front at Plutonic underground
The location of this drilling is shown in Figures 1-4 below. The key intersections are shown in Table 1 and Table 2 below and all intersections are provided in Table 3. Reported intersections are over a minimum downhole length of 0.30 metres (0.20 metres true width).
Chris Jordaan, President and CEO of Superior Gold stated: "We are delighted to announce today's drill results, clearly extending the new high-grade Western Mining Front. Today's drill results extends the western edge of the Plutonic deposit a further approximately 60 metres along the entire Western Mining Front currently estimated to be 1.6 kilometre long from surface to Baltic West. They also support our view that this new northwest high-grade trend, known as the Guppy Trend, continues through an area not previously drilled, opening a much larger target area than previously considered.
Results to date support our view that the Western Mining Front has excellent potential to be an important new gold production zone at Plutonic. In addition, today's results are not included in our current Mineral Resource estimate.
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 our mining grades and efficiencies. Our ongoing drill program, utilizing our dedicated exploration drill rig, will continue to infill the Western Mining Front with the aim of including parts of this area in the 2022 mine plan."
EXTENSION OF THE WESTERN 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 Resources. 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 Western Mining Front extends approximately 1.6 kilometre along the western edge of the Caspian, Indian and Baltic zones of the Plutonic underground mine and remains open, with several historic high-grade intercepts confirming mineralization continuity outside of Mineral Resources, as shown in Figure 4.
Drilling in 2020 identified significant high-grade mineralization in the northwest of the Indian zone, including 56.3 g/t gold over 15.1 metres (hole UDD22011) (refer to the News Release dated June 17, 2020). Drilling in the first quarter of 2021 identified the northwest extension of these high-grade bands of mineralization, 350 metres down dip in the Baltic zone, including 13.7 g/t gold over 8.8 metres (hole UDD23656) (refer to the News Release dated March 1, 2021).
Today's Western Mining Front drill results extend from the Caspian zone, down through the Indian and Baltic zones to the Baltic Extension zone – covering up to a 1.6 kilometre long northwest extension of the Western Mining Front. Results are clustered in three general areas 1) Caspian zone, 2) Baltic West zone and 3) Baltic Extension zone as shown in Figures 1 and 2.
The Caspian zone results include 42.2 g/t gold over 5.6 metres (hole UDD24141), extending the Caspian zone along the northwest Guppy Trend, which is now thought to extend the entire 1.6 kilometre length of the Western Mining Front.
The Baltic West zone also includes results along the Guppy Trend, located between the Indian zone and Baltic zone results (noted above), approximately 50 metres up dip from the March 2021 Baltic zone results and 170 metres west of the current Mineral Resource envelope. Consistent grade bearing intersections, including 140.4 g/t gold over 1.4 metres (grade control hole UDD23993) and 10.1 g/t gold over 4.0 metres (hole UDD24191), further demonstrate continuity of the typical Plutonic mineralization system, being a high-grade stacked lode system.
The Baltic Extension zone results include 17.7 g/t gold over 6.4 metres (hole UDD24376) and 6.4 g/t gold over 5.9 metres (hole UDD 24379), up to 100 metres northwest of the existing Mineral Resource envelope. These results support continuity with historical high-grade step out intercepts, such as 6.7 g/t gold over 6.8 metres (hole PEDD0221), which demonstrates a 620 metre strike of high-grade mineralization, including today's results.
Today's results also support the hypothesis that the highest grades at Plutonic are controlled by the northwest trending faults. These results are also adjacent and in close proximity to existing infrastructure which translates to minimal capital expenditures required to infill drill and develop the area.
Figure 1: Mineralized Zones at Plutonic Underground with Drill Hole Locations (Plan View)
Figure 2: Western Mining Front Extension Third Quarter 2021 Drill Hole Locations (Plan View)
Figure 3: Western Mining Front Significant Intercept Location (Cross Section – Looking South)
Figure 4: Plutonic Historical Significant Intercepts and Targeted New Mining Fronts (Plan View)
Table 1: Highlights of Expansion Drill Results from Western Mining Front
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
UDD24186
3608
11695
914
-18
259
141
54.0
58.7
4.7
3.1
3.3
UDD24187
3608
11696
914
-23
275
125
55.2
71.0
15.8
2.6
11.1
UDD24191
3607
11697
914
-23
290
210
67.2
71.2
4.0
10.1
2.8
60.1
63.3
3.2
3.0
2.2
UDD24221
4566
11317
1225
15
298
80
54.4
57.8
3.4
6.9
2.4
UDD24246
3607
11697
916
25
294
183
155.6
157.6
2.0
5.0
1.4
UDD24263
3571
11961
900
-31
214
246
175.8
176.8
1.0
8.7
0.7
UDD24374
3573
11959
900
-25
206
186
162.2
165.4
3.2
2.9
2.2
UDD24376
3573
11959
899
-30
204
205
159.3
165.7
6.4
17.7
4.5
UDD24377
3573
11959
900
-21
203
180
133.4
134.4
1.0
30.4
0.7
171.8
172.8
1.0
12.3
0.7
UDD24378
3584
11947
899
-36
205
201
177.3
178.1
0.8
25.3
0.6
191.0
193.0
2.0
6.3
1.4
185.0
186.0
1.0
12.0
0.7
106.0
106.5
0.5
17.3
0.4
UDD24379
3584
11947
900
-29
205
209
161.0
166.8
5.8
7.0
4.1
153.1
159.0
5.9
6.4
4.1
UDD24380
3584
11947
900
-17
205
211
165.0
166.1
1.1
8.2
0.8
UDD24382
3593
11938
899
-32
201
207
189.0
193.0
4.0
5.0
2.8
UDD24383
3593
11938
899
-39
200
204
175.5
178.2
2.7
10.4
1.9
UDD24386
3600
11933
899
-31
194
198
183.0
189.3
6.3
2.6
4.4
UDD24387
3627
11906
898
-31
200
123
89.5
90.5
1.0
34.7
0.7
UDD24387A
3627
11906
898
-32
203
192
171.0
175.1
4.1
17.5
2.9
143.9
145.7
1.8
4.5
1.3
UDD24388A
3627
11906
898
-39
202
178
140.1
143.2
3.1
3.7
2.2
Note: Mine grid co-ordinates shown.
Table 2: Highlights of Infill Drill Results from Western Mining Front
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)
Down hole From (m)
Down hole To (m)
Downhole Intersection (m)
Au (gpt) uncut
Est True Thickness
UDD23870
4734
10726
1350
1
329
153
117.7
121.3
3.6
9.9
2.5
UDD24130
3683
11670
998
-13
328
108
61.7
62.6
0.9
23.2
0.6
UDD24139
4043
11157
1158
9
232
84
19.1
20.9
1.8
11.8
1.3
UDD24141
4042
11157
1158
12
243
102
20.0
25.6
5.6
42.2
3.9
UDD24200
4628
10733
1362
-7
359
138
111.3
117.1
5.8
6.6
4.1
UDD24201
4628
10733
1362
-7
14
165
114.4
120.7
6.3
7.4
4.4
UDD24202
4627
10732
1362
-5
9
141
67.2
70.5
3.3
7.0
2.3
UDD24203
4752
10947
1343
-1
221
141
115.1
119.3
4.2
9.7
2.9
UDD24207
4752
10947
1343
2
215
174
139.4
144.2
4.8
10.5
3.4
130.1
133.6
3.5
7.2
2.5
UDD24208
4752
10947
1343
2
220
165
134.5
135.9
1.4
14.9
1.0
UDD24209
4752
10947
1343
-1
225
168
117.0
119.2
2.2
13.4
1.5
UDD24298
4289
11901
938
12
174
62
50.1
52.3
2.2
31.9
1.5
25.5
27.2
1.7
13.2
1.2
UDD24362
4655
11015
1280
-63
162
66
36.4
40.5
4.1
6.2
2.9
UDD24363
4656
11015
1280
-51
139
84
66.8
71.1
4.3
5.2
3.0
UDD24365
4651
11017
1280
-85
223
77
48.7
55.9
7.2
5.3
5.0
UDD24367
4655
11015
1280
-67
137
84
62.5
72.5
10.0
6.9
7.0
UDD24368
4656
11015
1280
-59
148
81
60.2
68.2
8.0
3.9
5.6
UDD24480
4455
11171
1249
-16
243
24
3.8
6.2
2.4
11.2
1.7
UDD24545
3858
11708
910
-13
196
102
92.6
96.6
4.0
9.4
2.8
UDD23957
3680
11624
938
4
250
51
10.7
14.4
3.7
14.4
2.6
UDD23964
3702
11618
941
77
212
21
2.1
3.9
1.8
11.5
1.3
UDD23965
3702
11619
941
68
225
15
0.6
1.0
0.4
463.3
0.3
UDD23975
3682
11624
936
-70
243
72
0.4
1.5
1.1
24.7
0.8
UDD23979
3694
11622
941
85
7
15
0.0
0.3
0.3
146.6
0.2
UDD23993
3681
11665
998
-51
218
110
79.3
80.7
1.4
140.4
1.0
UDD23994
3681
11666
998
-51
227
96
82.2
82.5
0.3
100.5
0.2
UDD23997
3681
11666
998
-56
232
90
80.4
81.5
1.1
58.1
0.8
Note: Mine grid co-ordinates shown.
Table 3: Complete Expansion Drill Results from Western Mining Front
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)
Down hole From (m)
Down hole To (m)
Down hole Intersection (m)
Au (gpt) uncut
Est True Thickness
UDD24336
4075
11935
860
4
290
74
57.7
58.7
1.0
17.5
0.7
69.0
70.0
1.0
3.4
0.7
UDD24337
4067
11929
858
-6
290
90
58.7
60.7
2.0
2.1
1.4
86.0
87.0
1.0
6.1
0.7
UDD24338
4050
11917
855
-5
292
60
35.6
36.6
1.0
2.5
0.7
38.9
39.9
1.0
1.0
0.7
42.1
46.7
4.6
1.7
3.2
55.9
56.9
1.0
1.3
0.7
57.9
58.8
0.9
1.7
0.6
UDD24339
4016
11895
850
-13
324
183
37.1
38.1
1.0
1.1
0.7
44.1
45.1
1.0
7.2
0.7
72.4
72.8
0.4
2.3
0.3
102.1
106.3
4.2
1.1
2.9
128.0
128.9
0.9
1.5
0.6
154.0
154.7
0.7
5.7
0.5
UDD24340
3997
11882
846
-18
323
195
16.3
17.3
1.0
5.1
0.7
23.6
24.5
0.9
1.6
0.6
44.0
45.0
1.0
1.4
0.7
55.1
58.1
3.0
1.1
2.1
94.4
96.2
1.8
23.0
1.3
160.0
160.6
0.6
1.6
0.4
163.5
164.5
1.0
1.9
0.7
189.1
189.6
0.5
1.6
0.4
UDD24341
3969
11862
841
-12
318
90
30.0
33.0
3.0
2.3
2.1
42.8
43.8
1.0
12.4
0.7
45.8
47.8
2.0
1.4
1.4
82.0
85.0
3.0
1.2
2.1
UDD24342
3979
11869
843
-19
322
114
22.6
36.0
13.4
14.8
9.4
39.0
40.0
1.0
1.1
0.7
60.6
64.0
3.4
1.1
2.4
66.0
67.0
1.0
2.2
0.7
69.0
70.1
1.1
2.5
0.8
UDD24343
3897
11806
833
60
282
41
10.1
11.1
1.0
1.7
0.7
UDD24351
3847
11867
832
-24
2
186
1.7
3.7
2.0
1.6
1.4
12.4
13.2
0.9
2.2
0.6
142.3
143.2
0.9
1.0
0.6
161.2
162.2
1.0
5.4
0.7
170.7
171.2
0.5
1.5
0.4
175.9
176.9
1.0
60.0
0.7
UDD24352
3834
11869
832
-34
3
177
153.2
154.2
1.0
1.2
0.7
161.2
162.2
1.0
2.4
0.7
165.0
165.3
0.3
1.7
0.2
UDD24353
3866
11865
832
-24
6
168
9.9
10.9
1.0
1.2
0.7
21.0
22.0
1.0
1.2
0.7
88.0
89.0
1.0
3.4
0.7
93.4
97.6
4.3
2.3
3.0
102.0
108.5
6.5
2.8
4.5
117.3
119.9
2.6
1.6
1.8
129.3
130.9
1.6
2.1
1.1
148.8
152.0
3.3
3.2
2.3
UDD24354
3858
11866
832
-34
5
174
11.5
16.4
4.9
1.9
3.4
140.3
141.1
0.8
2.6
0.6
143.5
146.3
2.8
2.1
2.0
148.7
155.2
6.5
4.1
4.6
UDD24355
3847
11867
831
-44
2
171
64.1
64.6
0.5
14.5
0.3
92.5
93.5
1.0
3.4
0.7
113.0
114.0
1.0
3.7
0.7
118.2
119.2
1.0
2.7
0.7
139.7
140.7
1.0
2.0
0.7
162.7
165.1
2.4
1.6
1.7
UDD24356
3850
11867
832
-42
22
93
14.3
18.8
4.5
1.6
3.1
53.5
54.2
0.7
4.9
0.5
UDD24357
3842
11868
831
-60
23
63
6.0
9.0
3.0
1.9
2.1
14.0
16.7
2.7
9.0
1.9
20.3
21.0
0.7
3.4
0.5
23.0
26.0
3.0
1.7
2.1
27.7
30.7
3.0
1.4
2.1
34.1
35.1
1.0
1.3
0.7
48.3
50.0
1.7
6.3
1.2
54.0
55.0
1.0
9.2
0.7
UDD24358
3816
11868
832
-60
16
147
78.6
79.2
0.6
3.2
0.4
85.0
86.0
1.0
1.7
0.7
89.5
90.4
0.9
2.0
0.6
94.4
95.4
1.0
2.3
0.7
109.3
111.4
2.1
2.2
1.5
UDD24359
3861
11861
833
39
172
60
8.7
9.0
0.4
1.5
0.2
11.1
17.0
6.0
2.3
4.2
23.0
25.0
2.0
1.9
1.4
30.0
31.0
1.0
1.1
0.7
36.0
36.6
0.6
6.6
0.4
41.8
42.6
0.8
5.8
0.5
44.6
44.9
0.4
1.6
0.3
47.8
49.6
1.8
1.3
1.2
57.7
59.7
2.1
1.8
1.4
UDD24360
3807
11862
834
18
198
57
28.3
29.3
1.0
1.6
0.7
41.2
43.0
1.8
1.3
1.3
47.5
48.4
0.9
3.6
0.6
53.0
55.6
2.6
3.8
1.8
UDD24263
3571
11961
900
-31
214
246
175.8
176.8
1.0
8.7
0.7
UDD24373
3573
11959
899
-30
210
186
165.7
166.7
1.0
1.2
0.7
168.7
170.7
2.0
2.4
1.4
UDD24374
3573
11959
900
-25
206
186
162.2
165.4
3.2
2.9
2.2
168.4
169.4
1.0
1.6
0.7
UDD24376
3573
11959
899
-30
204
205
159.3
165.7
6.4
17.7
4.5
UDD24377
3573
11959
900
-21
203
180
133.4
134.4
1.0
30.4
0.7
153.9
154.9
1.0
1.0
0.7
156.9
157.9
1.0
1.1
0.7
163.6
164.6
1.0
4.8
0.7
171.8
172.8
1.0
12.3
0.7
UDD24378
3584
11947
899
-36
205
201
106.0
106.5
0.5
17.3
0.4
151.6
152.6
1.0
5.8
0.7
164.4
166.0
1.7
1.3
1.2
177.3
178.1
0.8
25.3
0.6
185.0
186.0
1.0
12.0
0.7
191.0
193.0
2.0
6.3
1.4
UDD24379
3584
11947
900
-29
205
209
145.1
147.1
2.0
2.3
1.4
153.1
159.0
5.9
6.4
4.1
161.0
166.8
5.8
7.0
4.1
UDD24380
3584
11947
900
-17
205
211
146.3
146.8
0.5
1.2
0.4
152.8
156.0
3.2
2.1
2.3
165.0
166.1
1.1
8.2
0.8
UDD24381
3584
11947
900
-20
200
180
123.1
124.1
1.0
1.4
0.7
127.0
128.0
1.0
1.4
0.7
172.0
173.0
1.0
1.6
0.7
UDD24382
3593
11938
899
-32
201
207
175.0
176.0
1.0
2.1
0.7
182.0
184.0
2.0
2.2
1.4
189.0
193.0
4.0
5.0
2.8
UDD24383
3593
11938
899
-39
200
204
135.2
135.7
0.5
3.3
0.4
144.8
145.4
0.6
1.2
0.4
175.5
178.2
2.7
10.4
1.9
187.6
188.6
1.0
2.5
0.7
195.0
195.5
0.5
1.3
0.4
UDD24384
3593
11938
899
-31
196
207
185.6
190.5
4.9
7.4
7.9
UDD24385
3600
11933
901
-4
196
207
130.1
132.1
2.0
2.4
1.4
189.4
190.4
1.0
1.1
0.7
UDD24386
3600
11933
899
-31
194
198
183.0
189.3
6.3
2.6
4.4
UDD24387
3627
11906
898
-31
200
123
89.5
90.5
1.0
34.7
0.7
92.4
93.0
0.6
1.4
0.4
96.0
97.0
1.0
3.9
0.7
100.0
101.0
1.0
4.5
0.7
121.5
122.1
0.6
1.7
0.4
UDD24387A
3627
11906
898
-32
203
192
121.7
122.2
0.6
1.6
0.4
136.2
137.2
1.0
1.2
0.7
143.9
145.7
1.8
4.5
1.3
150.7
154.4
3.7
1.4
2.6
168.3
169.3
1.0
3.1
0.7
171.0
175.1
4.1
17.5
2.9
UDD24388A
3627
11906
898
-39
202
178
118.5
120.0
1.5
1.4
1.1
140.1
143.2
3.1
3.7
2.2
152.8
153.1
0.4
3.9
0.2
UDD24185
3608
11695
914
-6
257
327
63.8
64.6
0.8
6.8
0.6
72.8
74.1
1.3
3.0
0.9
164.2
165.2
1.0
3.0
0.7
UDD24186
3608
11695
914
-18
259
141
1.0
1.5
0.5
1.2
0.4
54.0
58.7
4.7
3.1
3.3
61.7
63.4
1.8
1.1
1.2
74.9
75.6
0.7
4.5
0.5
132.4
132.9
0.5
1.6
0.4
UDD24187
3608
11696
914
-23
275
125
55.2
71.0
15.8
2.6
11.1
UDD24188
3607
11696
914
-36
286
141
47.8
48.6
0.8
2.1
0.6
UDD24189
3607
11696
914
-25
284
145
49.6
50.6
1.0
2.2
0.7
55.6
57.3
1.7
1.3
1.2
59.5
60.5
1.0
2.5
0.7
UDD24190
3608
11696
914
-15
278
162
18.1
19.1
1.0
6.1
0.7
71.8
72.3
0.5
1.1
0.4
76.4
77.1
0.8
2.0
0.5
UDD24191
3607
11697
914
-23
290
210
7.9
8.5
0.6
1.7
0.4
60.1
63.3
3.2
3.0
2.2
67.2
71.2
4.0
10.1
2.8
76.5
77.5
1.0
1.1
0.7
195.8
196.1
0.3
1.9
0.2
UDD24245
3610
11698
915
12
314
146
70.1
71.1
1.0
1.4
0.7
94.9
95.5
0.6
3.3
0.4
121.9
122.3
0.4
1.2
0.3
124.3
126.3
2.0
2.8
1.4
130.5
131.5
1.0
1.1
0.7
UDD24246
3607
11697
916
25
294
183
144.1
144.6
0.6
2.7
0.4
155.6
157.6
2.0
5.0
1.4
UDD24248
3607
11697
915
8
293
201
57.9
58.6
0.7
1.0
0.5
165.2
166.2
1.0
1.8
0.7
171.7
172.7
1.0
1.3
0.7
189.3
190.3
1.0
1.7
0.7
UDD24249
3607
11697
914
-6
295
225
24.7
25.7
1.0
3.9
0.7
53.6
54.5
0.9
1.7
0.6
57.5
58.0
0.5
1.8
0.4
60.7
61.7
1.0
1.3
0.7
151.9
152.4
0.5
2.6
0.3
UDD24212
4604
11332
1230
12
232
204
106.8
107.3
0.5
2.8
0.4
121.4
122.4
1.0
2.9
0.7
127.0
128.0
1.0
2.2
0.7
UDD24215
4519
11267
1215
6
190
150
11.0
12.0
1.0
5.2
0.7
45.1
47.5
2.4
2.1
1.7
UDD24218
4566
11316
1227
40
285
150
40.5
41.1
0.6
11.1
0.4
UDD24221
4566
11317
1225
15
298
80
54.4
57.8
3.4
6.9
2.4
UDD23817A
3775
11632
1042
-48
156
188
115.3
115.6
0.3
4.3
0.2
126.7
127.0
0.3
2.1
0.2
140.9
141.2
0.3
1.1
0.2
UDD23819
3776
11632
1042
-26
156
210
146.1
146.8
0.8
1.9
0.5
Note: Mine grid co-ordinates shown.
Mineral Resource and Technical Report
The updated Mineral Resource estimate and Preliminary Economic Assessment were completed under the supervision of Stephen Hyland, FAusIMM who is a "qualified person" as defined by NI 43-101 and is independent of the Company. Mr. Hyland is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) and a member of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and a "qualified person" within the meaning of NI 43-101. Mr. Hyland is employed by Hyland Geological and Mining Consultants (HGMC) and has been engaged on the basis of professional association between client and independent consultant.
The technical report 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 (NI 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.
Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Forward-looking information includes information with respect to guidance as to projections, outlook, guidance, forecasts, estimates, and other statements regarding future or estimated financial and operational performance, gold production and sales, revenues and cash flows, and capital costs (sustaining and non-sustaining), including projected cash operating costs and all-in sustaining costs) as well as statements with respect to the mine-plan, exploration, drilling, operating and organizational matters and activities relating to the Plutonic Gold Operations and the Company generally, including its liquidity and capital requirements and financial results. Such Forward-looking information also includes information related to the Company's previously announced strategic review process, the potential outcome of such process and the intended maximization of shareholder value that the Company believes may result from such process. By identifying such information in this manner, the Company is alerting the reader that such information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. Readers are encouraged to refer to the Annual Information Form of the Company for a discussion of other risks including outbreaks or threats of outbreaks of viruses, other infectious diseases or other similar health threats, such as the novel coronavirus outbreak, which could have a material adverse effect on the Company by causing operational and supply chain delays and disruptions, labour shortages, shutdowns, the inability to sell gold, capital markets volatility or other unknown but potentially significant impacts. The Company cannot accurately predict what effects these conditions will have on the Plutonic Gold Operations or the financial results of the Company, including uncertainties relating to travel restrictions to the Plutonic Gold Operations or otherwise and business closures that have been or may be imposed by governments. If an outbreak or threat of an outbreak of a virus or other infectious disease or other public health emergency occurs, it could have a material adverse effect on the Company's business, financial condition and results of operations.
The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information as no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, and if any of them do so, what benefits the Company will derive therefrom. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this news release to reflect events or circumstances after the date hereof. Neither the TSX Venture Exchange not its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Superior Gold
Superior Gold Inc., Brian Szeto, Vice President, Corporate Development or Sandy Noyes, Director of Investor Relations, [email protected], Tel: 647-925-1293
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...
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