Plutonic is a world-class Archean lode-style gold mineralized system that has produced close to six million ounces of gold over 32 years of continuous operation and encompasses a Measured and Indicated Mineral Resource of 1.92 million ounces together with an Inferred Mineral Resource of 3.97 million ounces (
Results are provided for 57 underground exploration drill holes, drilled from
HIGHLIGHTS
- Drill hole UDD25437 intersected 58.9 g/t gold over 2.7 metres including 0.7 metre at 204.7 g/t gold
- Drill hole UDD25332 intersected 17.6 g/t gold over 7.7 metres including 0.7metre at 23.6 g/t gold and 26.7 g/t gold over 1.8 metres including 1.0 metre 51.7 g/t gold
- Drill hole UDD25073 intersected 20.5 g/t gold over 5.1 metres including 1.0 metre at 98.8 g/t gold
- Drill hole UDD24898 intersected 12.1 g/t gold over 6.5 metres including 1.0 metre at 58.6 g/t gold
- Drill hole UDD25076 intersected 10.2 g/t gold over 6.9 metres including 0.8 metre at 36.9 g/t gold
- Drill hole UDD25079 intersected 20.9 g/t gold over 3.0 metres including 1.0 metre at 34.7 g/t gold
The results announced today expand the
These results announced today give us further confidence that high-grade extensions of the Plutonic orebody can be systematically targeted. Results such as hole UDD25437 which intersected 58.9 g/t gold over 2.7 metres, and hole UDD25332 which intersected 17.6 g/t gold over metres indicate that significant mineralization can still be discovered. These drilling results have 26 intercepts containing over 20-gram meters (downhole intersection times Gold value uncut) and 64 intercepts containing over 4.5-gram metres on a total of 57 holes. The high drill success rate from this project area reflects the effectiveness and accuracy of the reinterpretation and remodelling approach currently applied. Our investment in re-interpreting historical data, with this recent success as an example, will further assist our strategy to extend Plutonic's mine life. The close proximity to the adit and the ease of access to this area is a favourable location for the current portal at the
INDIAN ACCESS
The Indian Access intercepts such as 58.9 g/t gold over 2.7 metres in hole UDD25437, 17.6 g/t gold over 7.7 metres in hole UDD25332, 20.5 g/t gold over 5.1 metres in hole UDD25073, and many more significant intercepts demonstrates great potential in an under-explored area of the mine. These targets have been identified through careful re-interpretation of late crosscutting dykes and earlier Northwest faults. The grade intercepts are down dip extensions of known mineralization and also include a "new" zone approximately 100 metres from existing mining infrastructure. These high-grade zones are interpreted to coincide with a similar northwest control on stacked lodes that extend throughout the entire mine from the surface through to the Baltic Extension area.
Table 1: Highlights of Drill Results from Indian Access area
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 |
UDD24890 | 4675 | 11435 | 1307 | -3 | 218 | 137 | 47.8 | 50.8 | 3.0 | 1.9 | 2.1 |
88.9 | 89.4 | 0.6 | 16.9 | 0.4 | |||||||
UDD24891 | 4675 | 11435 | 1307 | 6 | 222 | 161 | No Significant Intercept | ||||
UDD24892 | 4674 | 11436 | 1307 | 0 | 229 | 156 | 97.2 | 98.2 | 1.0 | 8.4 | 0.7 |
131.3 | 133.2 | 1.9 | 3.9 | 1.3 | |||||||
140.7 | 143.7 | 3.0 | 13.5 | 2.1 | |||||||
UDD24893 | 4672 | 11436 | 1307 | -14 | 245 | 173 | No Significant Intercept | ||||
UDD24894 | 4520 | 11276 | 1215 | -1 | 334 | 160 | No Significant Intercept | ||||
UDD24895 | 4520 | 11276 | 1216 | 0 | 340 | 144 | No Significant Intercept | ||||
UDD24896 | 4520 | 11276 | 1215 | 4 | 342 | 129 | 113.2 | 113.7 | 0.5 | 17.3 | 0.4 |
UDD24897 | 4533 | 11287 | 1217 | -13 | 345 | 224 | No Significant Intercept | ||||
UDD24898 | 4595 | 11345 | 1229 | -14 | 282 | 33 | 4.6 | 11.1 | 6.5 | 12.1 | 4.6 |
Including | 1.0 | 58.6 | 0.7 | ||||||||
UDD24899 | 4599 | 11337 | 1229 | -4 | 199 | 219 | 106.9 | 112.0 | 5.1 | 2.2 | 3.6 |
184.2 | 187.0 | 2.8 | 7.4 | 2.0 | |||||||
209.7 | 210.6 | 0.9 | 20.1 | 0.6 | |||||||
UDD24900 | 4599 | 11336 | 1229 | -9 | 228 | 228 | 115.0 | 121.2 | 6.2 | 3.2 | 4.3 |
UDD25052 | 4514 | 11261 | 1213 | 1 | 168 | 160 | 1.0 | 3.0 | 2.0 | 3.1 | 1.4 |
35.0 | 37.0 | 2.0 | 4.9 | 1.4 | |||||||
102.3 | 104.9 | 2.6 | 12.5 | 1.8 | |||||||
UDD25053 | 4512 | 11261 | 1213 | -11 | 192 | 84 | 44.8 | 45.2 | 0.4 | 19.2 | 0.3 |
50.7 | 56.0 | 5.3 | 7.0 | 3.7 | |||||||
Including | 0.5 | 33.7 | 0.4 | ||||||||
66.8 | 68.2 | 1.4 | 20.0 | 1.0 | |||||||
75.6 | 76.6 | 1.0 | 12.4 | 0.7 | |||||||
UDD25054 | 4512 | 11261 | 1213 | -3 | 195 | 81 | 88.0 | 90.0 | 2.0 | 4.3 | 1.4 |
UDD25055 | 4512 | 11261 | 1213 | -16 | 202 | 80 | No Significant Intercept | ||||
UDD25056 | 4511 | 11261 | 1213 | -5 | 208 | 90 | 43.0 | 43.9 | 0.9 | 5.7 | 0.6 |
49.9 | 52.0 | 2.1 | 15.5 | 1.5 | |||||||
UDD25057 | 4511 | 11260 | 1213 | 2 | 212 | 73 | 100.0 | 103.0 | 3.0 | 18.2 | 2.1 |
Including | 1.0 | 38.9 | 0.7 | ||||||||
106.0 | 107.7 | 1.7 | 6.3 | 1.2 | |||||||
UDD25073 | 4740 | 11281 | 1336 | -7 | 301 | 113 | 46.8 | 48.7 | 1.9 | 5.0 | 1.3 |
111.9 | 117.0 | 5.1 | 20.5 | 3.6 | |||||||
Including | 1.0 | 98.8 | 0.7 | ||||||||
133.5 | 136.2 | 2.7 | 7.5 | 1.9 | |||||||
149.6 | 150.6 | 1.0 | 16.0 | 0.7 | |||||||
UDD25074 | 4740 | 11281 | 1335 | -14 | 302 | 119 | 78.5 | 89.8 | 11.3 | 5.3 | 7.9 |
105.3 | 109.3 | 4.0 | 7.9 | 2.8 | |||||||
141.8 | 144.2 | 2.4 | 2.6 | 1.7 | |||||||
UDD25075 | 4740 | 11281 | 1336 | -3 | 292 | 73 | No Significant Intercept | ||||
UDD25076 | 4740 | 11281 | 1336 | -4 | 286 | 102 | 3.1 | 10.0 | 6.9 | 10.2 | 4.8 |
Including | 0.8 | 36.9 | 0.6 | ||||||||
UDD25077 | 4738 | 11279 | 1335 | -37 | 267 | 81 | 1.2 | 3.1 | 1.9 | 30.4 | 1.3 |
Including | 0.5 | 58.8 | 0.4 | ||||||||
UDD25078 | 4739 | 11279 | 1336 | -6 | 259 | 108 | 3.6 | 9.7 | 6.1 | 2.8 | 4.3 |
33.9 | 38.4 | 4.5 | 3.6 | 3.2 | |||||||
41.0 | 44.1 | 3.1 | 11.9 | 2.2 | |||||||
61.5 | 70.4 | 8.9 | 4.6 | 6.2 | |||||||
98.0 | 99.0 | 1.0 | 24.8 | 0.7 | |||||||
UDD25079 | 4739 | 11277 | 1336 | -12 | 235 | 92 | 0.0 | 3.0 | 3.0 | 20.9 | 2.1 |
Including | 1.0 | 34.7 | 0.7 | ||||||||
8.0 | 10.4 | 2.4 | 2.6 | 1.7 | |||||||
UDD25080 | 4739 | 11277 | 1336 | -4 | 236 | 89 | 0.0 | 2.7 | 2.7 | 13.3 | 1.9 |
UDD25081 | 4741 | 11276 | 1334 | -37 | 229 | 63 | No Significant Intercept | ||||
UDD25082 | 4743 | 11275 | 1334 | -50 | 206 | 47 | No Significant Intercept | ||||
UDD25083 | 4741 | 11276 | 1335 | -5 | 229 | 53 | No Significant Intercept | ||||
UDD25084 | 4743 | 11275 | 1335 | 4 | 197 | 36 | 0.0 | 2.3 | 2.3 | 2.9 | 1.6 |
UDD25183 | 4300 | 11150 | 1256 | -69 | 65 | 70 | 42.4 | 43.9 | 1.5 | 14.0 | 1.0 |
UDD25184 | 4300 | 11150 | 1256 | -53 | 85 | 75 | No Significant Intercept | ||||
UDD25185 | 4300 | 11150 | 1256 | -25 | 90 | 75 | No Significant Intercept | ||||
UDD25186 | 4318 | 11127 | 1256 | -56 | 200 | 101 | 10.8 | 12.6 | 1.8 | 6.1 | 1.3 |
21.0 | 22.1 | 1.1 | 11.3 | 0.8 | |||||||
UDD25187 | 4319 | 11127 | 1256 | -75 | 315 | 100 | 24.4 | 26.6 | 2.2 | 3.9 | 1.5 |
36.8 | 37.5 | 0.7 | 20.4 | 0.5 | |||||||
UDD25329 | 4393 | 11684 | 1255 | -56 | 257 | 190 | 142.4 | 147.6 | 5.2 | 3.0 | 3.6 |
UDD25330 | 4393 | 11684 | 1255 | -57 | 246 | 210 | 130.7 | 132.8 | 2.1 | 7.1 | 1.5 |
Including | 1.0 | 31.8 | 0.4 | ||||||||
152.1 | 153.1 | 1.0 | 7.8 | 0.7 | |||||||
UDD25331 | 4393 | 11683 | 1255 | -64 | 232 | 180 | No Significant Intercept | ||||
UDD25332 | 4394 | 11682 | 1255 | -49 | 214 | 150 | 110.8 | 118.5 | 7.7 | 17.6 | 5.4 |
Including | 0.7 | 23.6 | |||||||||
124.2 | 126.0 | 1.8 | 26.7 | 1.3 | |||||||
Including | 1.0 | 51.7 | |||||||||
UDD25333 | 4394 | 11682 | 1255 | -46 | 201 | 240 | No Significant Intercept | ||||
UDD25334 | 4394 | 11682 | 1255 | -60 | 201 | 215 | No Significant Intercept | ||||
UDD25335 | 4409 | 11681 | 1255 | -52 | 189 | 205 | No Significant Intercept | ||||
UDD25336 | 4409 | 11682 | 1255 | -65 | 183 | 170 | No Significant Intercept | ||||
UDD25337 | 4409 | 11681 | 1255 | -72 | 180 | 185 | 159.4 | 160.9 | 1.5 | 17.6 | 1.1 |
UDD25338 | 4440 | 11678 | 1254 | -29 | 188 | 245 | No Significant Intercept | ||||
UDD25338A | 4439 | 11678 | 1255 | -23 | 188 | 245 | 218.9 | 220.1 | 1.2 | 15.3 | 0.8 |
UDD25433 | 4584 | 11335 | 1228 | -22 | 280 | 54 | No Significant Intercept | ||||
UDD25434 | 4598 | 11337 | 1229 | 4 | 203 | 105 | 113.1 | 114.8 | 1.7 | 5.2 | 1.2 |
UDD25435 | 4514 | 11261 | 1213 | -8 | 175 | 69 | 46.6 | 49.2 | 2.6 | 2.5 | 1.8 |
UDD25436 | 4514 | 11261 | 1213 | -21 | 191 | 99 | No Significant Intercept | ||||
UDD25437 | 4604 | 11346 | 1232 | 52 | 96 | 99 | 87.3 | 90.4 | 3.1 | 15.1 | 2.2 |
111.0 | 113.7 | 2.7 | 58.9 | 1.9 | |||||||
Including | 0.7 | 204.7 | 0.5 | ||||||||
UDD25438 | 4592 | 11343 | 1232 | 39 | 302 | 99 | No Significant Intercept | ||||
UDD25439 | 4598 | 11337 | 1229 | -17 | 196 | 156 | 148.1 | 153.6 | 5.5 | 5.9 | 3.9 |
Including | 1.0 | 23.2 | |||||||||
UDD25440 | 4598 | 11337 | 1229 | -1 | 205 | 150 | No Significant Intercept | ||||
UDD25441 | 4554 | 11304 | 1222 | 14 | 307 | 84 | 46.6 | 48.2 | 1.7 | 6.8 | 1.2 |
UDD25442 | 4606 | 11357 | 1229 | -56 | 320 | 36 | No Significant Intercept | ||||
UDD25443 | 4604 | 11346 | 1233 | 48 | 72 | 90 | 82.7 | 83.3 | 0.6 | 13.5 | 0.4 |
89.0 | 92.3 | 3.3 | 3.9 | ||||||||
105.7 | 109.3 | 3.6 | 2.4 | ||||||||
UDD25444 | 4514 | 11261 | 1214 | 6 | 170 | 81 | 1.0 | 2.0 | 1.0 | 9.7 | 0.7 |
Mineral Resource and 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
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by
Quality Control Protocols
Drilling is completed with NQ2 core diameter (50.7 mm) and samples are from whole core. Gold results were determined by
About
Continue to Follow, Like and Watch our progress:
Web: www.superior-gold.com | Twitter: @SuperiorGoldInc | Facebook: SuperiorGoldInc | Instagram: SuperiorGoldInc | LinkedIn:
Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws that are 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, inflationary pressures on operating or capital costs, 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
SOURCE
© Canada Newswire, source