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Superior Gold Inc.
Summary
| Project: | Hermes | |
|---|---|---|
| Deposit: | Hermes South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/10/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 10-5-2018: Superior Gold Inc. announces an Exploration/Drilling Update report for its Hermes South deposit at the Hermes project. Drilling results incl. 3.0m @ 37.7g/t Au from 27.0m. Toronto, May 10, 2018 – Superior Gold Inc. (“Superior Gold” or “The Comp | |
| Resources: | (Resource, Inf.): 1.29Mt @ 1.54g/t Au for 64Koz Au contained at Hermes South | |
| CP/QP: | [Overall Report]: Pascal Blampain (Internal) | |
| ABSTRACT: | Toronto, May 10, 2018 – Superior Gold Inc. (“Superior Gold” or “The Company”) (TSX.V:SGI) is pleased to announce initial results from the ongoing reverse circulation drill program at its Hermes South project, which is located approximately 20 kilometres south southwest of the Hermes open pit gold mine, which is in turn located 65 kilometres southwest of the Company’s 100%-owned Plutonic underground gold mine in Western Australia Figure 1. The Hermes South project is within the Bryah Basin joint venture with Alchemy Resources Ltd. (ASX:ALY). The Company’s interest in the joint venture is an earn-in option which, upon completion of the earn in, will give the Company an interest of up to 80% in the joint venture. The Company recently announced (April 3, 2018) an initial inferred mineral resource estimate for Hermes South of 1.29 million tonnes @ 1.54 g Au/t for 64,000 ounces (100% basis). This reverse circulation program is expected to total approximately 10,400 metres in 79 holes. The goal of the program is 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 plan and section in Figures 2 - 3. Chris Bradbrook, President and CEO of Superior Gold stated: “These results represent a very encouraging start to our first drill program at Hermes South. The ongoing drill program is being conducted 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.” | |
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