Superior Gold drills 6.5 m of 40.4 g/t Au at Plutonic

2020-06-24 06:12 ET – News Release

Mr. Chris Bradbrook reports

SUPERIOR GOLD INC. ANNOUNCES FURTHER HIGH GRADE GOLD MINERALIZATION BETWEEN BALTIC AND BALTIC DEEPS

Superior Gold Inc. has released results from the continuing underground diamond drill program focused on reserve and resource expansion at its 100-per-cent-owned Plutonic gold mine in Western Australia. The drilling targeted potential extensions to the gold mineralization in the area between the Baltic and Baltic Deeps Zones.

Results are provided for 17 drill holes for a total of more than 2,350 metres of drilling.

KEY FINDINGS

Continues to demonstrate potential continuity of mineralization between Baltic and Baltic Deeps Zones Drill hole UDD22310 intersected 40.4 g Au/t over 6.50 metres including 232.0 g Au/t over 0.90 metres Drill hole UDD22309 intersected 12.4 g Au/t over 4.10 metres Mineralization remains open both up and down dip and along strike

The drilling was focused on the area vertically between the Baltic and Baltic Deeps mineralized zones which has not previously been tested.

The location of this drilling is shown in Figures 1-3 . All intersections are shown in Table 1 below. Reported intersections are over a minimum downhole width of 0.30 metres (0.20 metres true width).

Chris Bradbrook, President and CEO of Superior Gold stated: “We are very pleased with these drill results, which we believe illustrate the potential to extend the Baltic Zone and connect it towards the Baltic Deeps mineralization. This potential was first illustrated in an earlier set of drill results that was published in late 2019 (refer to the press release dated December 10, 2019). The most recent drilling was completed over a strike length of approximately 150 metres and a vertical extent of more than 120 metres. Mineralization remains open both up and down dip and along strike, in addition to being close to existing infrastructure. The Baltic and Baltic Deep Zones are key components of the five year underground Life of Mine (“LOM”) plan that was announced in October 2019, and consequently, these results illustrate the potential to expand resources used in this plan. These latest results, together with our most recent underground exploration update (refer to the press release dated June 17, 2020), continue to confirm the potential of the mineralized system at the Plutonic Gold mine to deliver positive exploration results, and illustrate the potential to increase overall resources.”

HIGHLIGHTS

Intersections are summarized in Table 1 below:

                   End of   Downhole    Downhole       Downhole      Au     Est True
Drill Hole     hole depth       From          To   Intersection   uncut    Thickness
                      (m)        (m)         (m)            (m)   (g/t)          (m)

UDD22303              153      82.10       83.10           1.00    10.2          0.7
UDD22305               93      46.40       46.85           0.45     3.1          0.3
                               72.65       73.65           1.00     6.0          0.7
                               81.50       82.30           0.80    13.8          0.6
                               88.40       89.00           0.60     3.9          0.4
UDD22306              203      21.00       24.50           3.50     4.3          2.5
                               27.95       28.35           0.40     4.4          0.3
                               41.00       43.00           2.00     8.7          1.4
                Including      41.45       42.00           0.55    30.3          0.4
                               86.95       87.30           0.35    12.4          0.2
                              166.80      168.20           1.40     4.5          1.0
UDD22307               80      47.95       50.00           2.05     3.0          1.4
UDD22308               96      50.85       51.20           0.35    14.6          0.2
UDD22309              120      29.15       30.15           1.00     6.8          0.7
                               41.90       46.00           4.10    12.4          2.9
                Including      43.05       44.00           0.95    48.1          0.7
                               65.55       68.10           2.55     6.7          1.8
UDD22310              273      63.00       64.00           1.00     3.3          0.7
                               85.10       85.80           0.70    16.0          0.5
                              112.30      112.80           0.50     4.0          0.4
                              142.10      146.10           4.00    11.3          2.8
                              165.10      171.60           6.50    40.4          4.6
                Including     165.10      166.00           0.90   232.0          0.6
                      and     168.00      171.60           3.60    14.1          2.5
UDD22311               84                       No Significant Intersections
UDD22312               83                       No Significant Intersections
UDD22313              123                       No Significant Intersections
UDD22314              152      61.30       62.20           0.90     5.6          0.6
                               76.40       79.30           2.90     7.1          2.0
                              140.70      141.10           0.40     4.0          0.3
UDD22315              508      79.70       80.70           1.00     3.3          0.7
                              147.55      149.15           1.60     3.6          1.1
                              154.95      155.95           1.00     6.2          0.7
                              177.10      179.00           1.90     7.0          1.3
                              185.15      186.00           0.85     4.0          0.6
                              211.45      212.45           1.00     4.5          0.7
UDD22316               51                       No Significant Intersections
UDD22317               54                       No Significant Intersections
UDD22318               96      44.10       44.90           0.80     4.2          0.6
                               50.45       59.00           8.55     4.1          2.8
                Including      50.45       50.95           0.50    31.9          0.4
                      and      56.49       59.00           2.51     6.3          1.8
UDD22319               95      21.30       21.70           0.40     4.2          0.3
                               41.80       43.70           1.90     8.4          1.3
UDD22320              101      14.90       16.10           1.20     3.4          0.8
                               37.50       37.90           0.40     4.5          0.3
                               88.60       89.60           1.00     4.1          0.7


  

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

Core is drilled BTW core diameter (42 mm). Core intervals are whole core sampled. Gold results were determined by a combination of ALS Minerals (Perth) and the Plutonic Assay Laboratory 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 industry 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.

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, 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.

We seek Safe Harbor.

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