Quantcast
 
New book by Larry Connors Click here Improve your trading - See how


 

Northern Superior Provides Exploration Update

Thu. November 20, 2008; Posted: 04:18 PM
Stocks RSS
TORONTO, ONTARIO, Nov 20, 2008 (Marketwire via COMTEX) -- SUP | Quote | Chart | News | PowerRating -- Northern Superior Resources Inc. (TSX VENTURE:SUP)("Northern Superior" or the "Company")today provided an update on the Company's exploration activities to the end of the third quarter of 2008. Exploration spending in the first nine months of 2008 totaled $7.3 million, before refundable tax credits and cost recoveries, of which $4.0 million related to the Company's 50% interest in the Ti-pa-haa-kaa-ning gold project in Northern Ontario.

Dr. Thomas F. Morris, President and CEO of Northern Superior, commented: "We have made good progress so far in 2008, particularly on the 40,416 hectare Ti-pa-haa-kaa-ning project, with its gold grain dispersal apron and potential fertile strike length of 6 kilometers and extending 15 kilometers down ice, averaging 10.02 gold grains per kilogram of overburden. We are nearing completion of the current drill program at Ti-pa-haa-kaa-ning and expect to receive the results by either end of fourth quarter 2008 or first quarter 2009."

Property Review

Ti-pa-haa-kaa-ning Gold Property

During the third quarter of 2008, the Company completed mapping and sampling programs, a reconnaissance level bedrock mapping program and a detailed overburden sampling program at the 50% owned Ti-pa-haa-kaa-ning property. In addition, the Company initiated a diamond drill program in the eastern part of the property ("TPK area") late in the third quarter and has extended this program into other areas of the property during the fourth quarter. Completion of the diamond drill program is expected by the end of November. As a result of this summer's exploration activities, the property has now been divided into three parts: a) the New Growth area (northwest part of the property) which is very early stage exploration; b) the Big Dam area (central part of the property) which is focused on defining the source of gold grain dispersal apron; and c) the Ti-pa-haa-kaa-ning or TPK area (extreme eastern part of the property) which is focused on evaluating the gold potential of the historical showings.

Thorne Lake Gold Property

Near the end of the third quarter of 2008, the Company signed a second Letter of Agreement with the Sachigo Lake First Nation (a first agreement was signed in 2007) and initiated a second phase of overburden sampling at the Thorne Lake gold property in the Ellard Lake area of Northern Ontario. The 26 16-unit claims or 656 hectare area was first staked in 2007, after regional overburden mapping in 2006 identified a gold grain dispersal train similar in characteristics to, and approximately 20 kilometers west of, the Sachigo River Gold Mine.

Diamond Properties

Earlier this year, Northern Superior completed exploration programs on its Ville Marie and L'Esperance diamond properties. In Ville Marie, a reverse circulation drilling program and ground gravity survey better defined the location of several kimberlite targets. Petrographic and grain geochemistry of kimberlite material from the Lac Honorat kimberlite pipe were completed. Grain geochemistry indicated a favorable geotherm for a favorable mantle environment for diamonds. In L'Esperance, material intersected in Northern Superior's 2008 spring drill program and from float recovered in the Fall of 2007 was submitted to a laboratory and is currently being processed and interpreted. Several potential kimberlite targets were defined from a ground geophysical program completed during the first quarter of 2008. Information from both these projects will determine future targets for diamond drilling.

Donald Boucher, P.Geo. and Vice President Exploration, is the Company's Qualified Person for the Ti-pa-haa-kaa-ning, Thorne Lake and diamond properties. Mr. Boucher has prepared or supervised the preparation of the technical and scientific information contained in this news release.

About Northern Superior

Northern Superior Resources Inc. is a junior exploration company whose focus is exploring for gold and diamonds on the Superior Province of the Canadian Shield. Northern Superior is also advancing gold and base metal properties as a by-product from its diamond exploration programs. The Company is a reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol SUP.

ON BEHALF OF THE BOARD

Thomas F. Morris, PhD., FGAC, P.Geo., President & CEO

SOURCE: Northern Superior Resources Inc.

Northern Superior Resources Inc. Thomas F. Morris President and CEO (416) 703-4830 (416) 703-5391 (FAX) Northern Superior Resources Inc. Mark Utting Investor Relations (416) 703-4830 (416) 703-5391 (FAX) Email: info@nsuperior.ca Website: www.nsuperior.com

For full details for NSUPF click here.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Most Popular News
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.