TORONTO, June 23, 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
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 (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. 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.
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SOURCE Superior Gold