(MENAFNEditorial) INTERSECTIONS INCLUDE 4480.00 G AU/T OVER 0.30 METRES, 72.40 G AU/T OVER 2.70 METRES, 30.00 G AU/T OVER 6.00 METRES AND 502.00 G AU/T OVER 0.35 METRES, AND
10 INTERSECTIONS GREATER THAN 50 G AU/T
TORONTO, Jan. 17, 2018 /PRNewswire/ - Superior Gold Inc. ("Superior Gold" or the "Company") (TSX.V:SGI) is pleased to announce additional results from the ongoing underground diamond drill program at its 100%-owned Plutonic Gold Mine in Western Australia. The drilling was conducted from late September to the end of November 2017 and is part of the year-round ongoing program of underground drilling.
Results are provided for 129 drill holes for a total of more than 11,000 metres. The drill holes were completed for resource definition and grade control purposes. Resource definition was designed to increase the confidence level of the resource in areas where drilling was limited as part of the ongoing work to upgrade resources to reserves. Grade control drilling was completed to provide additional information for stope design ahead of mining.
The drilling focussed on seven zones – Area 134; Caribbean; Caspian; Cortez; Indian; Pacific; and Timor. A number of significant intersections were encountered.
KEY FINDINGS
236 intersections encountered more than 5g Au/t
114 intersections encountered more than 10g Au/t
44 intersections encountered more than 20g Au/t
10 intersections encountered more than 50g Au/t
The intersection of 4480.00g Au/t over 0.30 metres is the highest grade intersections encountered since the Company acquired the Plutonic Gold Mine in October 2016 The location of the most significant intersections are shown in and the details of all holes are summarized by zone in .
Chris Bradbrook, President and CEO of Superior Gold stated: "As with our previously released 2017 drill results, these latest results continue to demonstrate the strength of the mineralized system at the Plutonic Gold Mine. We continue to work towards increasing the confidence level in the resources in order to achieve one of our principal goals, which is to grow the level of underground reserves and to extend the mine life. The Company is currently working towards completing a reserve and resource update."
HIGHLIGHTS
The most significant intersections are summarized in Table 1 below:
Table 1 – Key Intersections
Designed
Target 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)
AREA 134 UDD19851
4720 12328
1126 -45
209 67
55.30 60.90
5.60 7.4
3.9
Including 55.30
57.10 1.80
13.6 1.3
UDD19852 4720
12327 1126
-38 201
75 59.15
62.50 3.35
8.3 2.3
Including 59.15
60.50 1.35
15.9 0.9
UDD19854 4720
12328 1126
-46 196
70 58.40
60.10 1.70
17.1 1.2
Including 58.40
59.25 0.85
21.9 0.6
UDD19855 4720
12328 1126
-37 190
74 66.50
67.10 0.60
50.8 0.4
UDD19858 4720
12328 1126
-28 174
72 45.70
47.70 2.00
24.8 1.4
And 46.50
47.70 1.20
38.6 0.8
CARIBBEAN UDD19839
4566 11937
1102 27
80 32
2.20 7.55
5.35 8.8
3.7
30.30 32.00
1.70 16.4
1.2
CASPIAN UDD19629
4710 11102
1276 26
214 41
33.95 35.00
1.05 23.2
0.7
UDD19631 4742
11104 1278
17 227
63 46.70
51.10 4.40
7.5 3.1
Including 46.70
47.70 1.00
16.8 0.7
UDD19823 4796
11049 1269
-49 135
57 38.30
40.45 2.15
8.6 1.5
UDD19862 4547
10954 1305
-20 20
5 1.85
2.70 0.85
55.9 0.6
CORTEZ UDD19826
4958 12223
1178 40
64 129
97.40 103.30
5.90 28.9
4.1
UDD19827 4956
12222 1180
78 45
80 51.05
55.65 4.60
14.7 3.2
Including 52.10
53.95 1.85
31.7 1.3
UDD19830 5022
12320 1173
43 102
32 5.70
8.70 3.00
9.5 2.1
Including 7.30
8.70 1.40
16.2 1.0
UDD19831 5021
12322 1172
38 83
29 14.60
20.60 6.00
30.0 4.2
Including 14.60
15.30 0.70
46.5 0.5
And 16.10
20.60 4.50
32.5 3.2
UDD19832 5021
12323 1171
20 53
32 14.80
16.70 1.90
30.6 1.3
UDD19833 5020
12324 1171
24 18
16 4.25
7.30 3.05
5.6 2.1
UDD19840 4802
12229 1140
3 344
45 2.50
3.50 1.00
114.0 0.7
UDD19842 4790
12230 1142
40 344
32 24.20
25.45 1.25
40.6 0.9
UDD19846 4792
12226 1145
71 344
32 5.00
6.45 1.45
20.8 1.0
22.10 23.35
1.25 34.5
0.9
UDD19847 4792
12225 1145
90 344
34 1.95
5.30 3.35
6.5 2.3
23.30 23.90
0.60 52.9
0.4
INDIAN UDD19467
3988 11610
1088 53
154 119
111.50 111.85
0.35 502.0
0.2
UDD19472 3951
11600 1085
61 339
53 15.80
16.80 1.00
27.5 0.7
UDD19481 3879
11567 1073
45 339
72 40.25
40.55 0.30
4480.0 0.2
UDD19596 4310
11350 1142
57 144
104 63.20
64.45 1.25
19.4 0.9
UDD19791 4003
11452 1132
-25 170
174 81.80
83.05 1.25
51.8 0.9
UDD19792 4003
11452 1132
-35 170
244 149.20
149.75 0.55
32.5 0.4
UDD19794 4003
11452 1132
-40 180
206 61.30
62.20 0.90
144.0 0.6
UDD19800 4002
11452 1131
-38 210
221 26.90
27.90 1.00
67.2 0.7
PACIFIC UDD19674
4660 12735
1047 82
2 63
14.10 17.20
3.10 7.4
2.2
Including 14.10
15.10 1.00
16.1 0.7
41.90 42.70
0.80 48.1
0.6
UDD19675 4660
12736 1047
67 359
63 4.00
5.40 1.40
14.7 1.0
UDD19677 4665
12736 1047
58 6
62 7.25
9.70 2.45
8.3 1.7
26.85 28.85
2.00 18.9
1.4
UDD19678 4665
12736 1047
71 14
59 14.10
16.80 2.70
72.4 1.9
Including 14.10
14.80 0.70
238.0 0.5
And 15.80
16.80 1.00
28.5 0.7
UDD19680 4667
12735 1048
66 91
77 8.30
10.60 2.30
9.6 1.6
UDD19684 4667
12733 1048
72 134
62 11.70
12.85 1.15
20.8 0.8
UDD19689 4624
12694 1073
68 88
63 36.35
36.70 0.35
45.4 0.2
Qualified Person
Scientific and technical information in this news release has been reviewed and approved byPascal 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
Core is drilled BTW core diameter (42 mm). Core intervals are whole core sampled. 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 industy 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 Gold Mine, which is a producing underground operation with a central mill, the Hermes open pit development project 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 press 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 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. See "Risk Factors" in the Company's prospectus dated February 15, 2017 filed on SEDAR at for a discussion of these risks.
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. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the TSX Venture Exchange nor 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
MENAFN1701201800701241ID1096362105
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