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Superior Gold Inc.
Summary
| Project: | Hermes | |
|---|---|---|
| Deposit: | Hermes South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 14-6-2018: Superior Gold Inc. announces an Exploration/Drilling Update report for its Hermes South deposit at the Hermes project. Drilling results incl. 4.0m @ 142.3g/t Au from 56.0m. Toronto, June 14, 2018 – Superior Gold Inc. (“Superior Gold” or “The Co | |
| 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, June 14, 2018 – Superior Gold Inc. (“Superior Gold” or “The Company”) (TSXV:SGI) is pleased to announce additional results from the recently completed 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 is 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). The phase one reverse circulation program was completed in May and totalled approximately 6,900 metres in 45 holes. The goal of the program was 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 - 4. All intersections are listed in Table 2. Chris Bradbrook, President and CEO of Superior Gold stated: “These results are extremely encouraging and suggest the potential to increase the existing resource. In particular, the highest grade intersections are both outside and parallel to, and approximately 150 metres south of, the existing resource suggesting the possibility of outlining additional parallel zones. The purpose of the drill program is 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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