Latest news for Northern Superior (OTC:NSUPF) Stock

Northern Superior Resources Inc is an exploration-stage junior mining company. It is engaged in the identification, acquisition, evaluation, and exploration of gold properties in Ontario and Quebec. It currently operates in a single segment, being the mining business in Canada and all its resource properties and equipment are situated in Canada. Its properties include TI-PA-HAA-KAA-NING (TPK) Gold/Silver/Copper Property, Croteau Est Gold Property, Lac Surprise Gold Property and many more.

With A New World-Class Mining Camp, Has Northern Superior Just Made Itself Very Valuable to IAMGOLD?

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Northern Superior Resources Inc, (TSX.V: SUP) (OTCQX: NSUPF) just published a mineral resource on its Philibert Project located in the rapidly growing gold camp of Chibougamau, in Quebec, Canada, and made itself very valuable to IAMGOLD (NYSE: 

With A New World-Class Mining Camp, Has Northern Superior Just Made Itself Very Valuable To IAMGOLD?

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

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NORTHERN SUPERIOR RES INC by Northern Superior Resources, Inc.

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Northern Superior Resources appoints Gregory Duras as CFO

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Northern Superior Announces Nomination of Kyle Stanfield as Chief Executive Officer of Spinout Company and Unveils Company Name

Northern Superior Announces Disposition of Rockland Shares

Northern Superior and ONGold Announce Closing of Spinout Transaction Related to TPK and Ontario Projects

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Northern Superior and ONGold Announce Appointment of CEO and Provides Listing Update

Northern Superior Proudly Announces the Appointment of John Kim Bell as Chairman of OnGold Resources

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Northern Superior Announces $7 Million Private Placement of Flow-Through Shares and Common Shares

Northern Superior Announces Upsize in Private Placement of Flow-Through Shares and Common Shares to $8 million

Northern Superior Announces Closing of $8 Million Private Placement With Strong Insider Participation

Northern Superior Announces the Appointment of Eric Desaulniers to Its Board of Directors

Northern Superior Details Philibert Exploration Strategy Including Connecting Mineralization 1.5 KM Southeast of Current Resource

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Northern Superior

Northern Superior Resources Inc, (TSX.V: SUP) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NSUPF#OTCQX">NSUPF</a>) just published a mineral resource on its Philibert Project located in the rapidly growing gold camp of Chibougamau, in Quebec, Canada, and made itself very valuable to IAMGOLD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>).

IAMGOLD, a distinguished gold producer with a market capitalization of CA$1.6 billion as of this writing, has navigated a successful transition period. After undertaking the construction of the Cote Lake Project in Ontario, the project faced construction cost overrun, and the company faced further capital requirements. Against most expectations, IAMGOLD was able to redress its balance sheet during a challenging period for mining M&amp;A and adroitly divested several assets in South America and Africa. This paved the way for the completion of the construction of Cote Lake and, in the process, repositioned IAMGOLD as a leading Canada-focused developer.

Once IAMGOLD has Cote Lake performing as desired, it is expected to transition towards its next stage of development, which could potentially be the rapidly growing gold camp of Chibougamau, in Quebec, where it already owns the Nelligan and Monster Lake projects.

The Chibougamau gold camp has been a popular destination for exploration companies for quite some time, and things became even more active with the discovery of Nelligan by Vanstar Mining. IAMGOLD now owns 75% of Nelligan, which was crowned the &ldquo;<a href="https://www.iamgold.com/English/blog/blog-detail/2019/IAMGOLD-wins-Discovery-of-the-Year-Award-for-Nelligan-Project/default.aspx">Discovery of the Year in 2019</a>&rdquo;.

Recently, IAMGOLD published a new resource calculation on Nelligan with 5.6 million oz of gold (3.6M oz inferred and 2M oz indicated). IAMGOLD also owns the Monster Lake Project only 15 km away. Gathering nearby assets to create synergies is not a new strategy; it is common across industries. Several successful companies such as Agnico Eagle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>), have made this central to their philosophy with mining hubs across the globe.

And now comes Philibert.

Northern Superior just <a href="https://nsuperior.com/northern-superior-announces-1708809-gold-ounces-in-inferred-category-and-278921-gold-ounces-in-indicated-category-at-1-10-g-t-in-maiden-ni-43-101-pit-constrained-resource-estimate-at-philibert/">published a mineral resource estimate on Philibert</a>, which is only 9 km away from Nelligan. If IAMGOLD is already looking at Monster Lake 15 km away, it may see Philibert on the same horizon.

Northern Superior just established the resource at Philibert at 2 million oz (1.71 million oz inferred and 0.28 million oz indicated), which is 35% of Nelligan&rsquo;s size and therefore very relevant. But just as importantly, it has a higher grade.

The resource at Philibert carries 1.10 gold per ton (g/t), which compares favorably to the 0.87 g/t at Nelligan. An additional 0.23 gram holds significance &ndash; the company is mining something that is concentrated at only 1g per ton of rock. One gram of gold is very small (less than half the size of a dime), and the company is extracting this from a ton of rock, which is no small feat. Philibert can provide 25% more of that small amount of gold after processing a ton of rock. Within a large mining operation, it makes a major difference and significantly lowers the payback period. A quick payback period is one of the most important attributes of a project when it comes to attracting capital, which is what turns projects into mines.

From the company&rsquo;s press release, we can also see that the Philibert Project has a lot of room to grow with:

<ul>
	<li>Zones within the theoretical 3 km pit that could become resources with further drilling;</li>
	<li>The possibility of finding replica zones of mineralization to the north potentially duplicating the resource, and</li>
	<li>Geophysics that seem to indicate the mineralization could extend for several more kilometers along strike in both east and west directions.</li>
</ul>

The gold camp of Chibougamau may have just got itself a big shot in the arm, but this camp is more than Nelligan, Monster Lake and Philibert. With decades of exploration, several other deposits were discovered, and Northern Superior made it core to its strategy to consolidate them. This now includes the Lac Surprise, which is literally adjacent to Nelligan and could reveal itself to be an extension to the deposit. It also includes Chevrier to the Northeast and Croteau to the North.

By combining it all, this camp would already encompass approximately 10 million oz, which already ranks it as a world-class camp, with the potential for each project able to grow further.

Looking at the value of the company compared to the number of oz the company now has as classified resources, Northern Superior may be attractive to some investors. Additionally, the company recently announced a spin-off of its Ontario assets, which includes its iconic TPK Project near the Ring of Fire and the October Gold Project located near Cote Lake of IAMGOLD.

TPK has been the focus of many specialist investors and geologists for several years, and Northern Superior finally received its exploration permit earlier this year. Since then, the company reports that Barrick Gold has circled it up and acquired land all around TPK.

If TPK is successful, it could greatly benefit Northern Superior which will remain the largest shareholder of the new company.

Featured photo by<a href="https://unsplash.com/@wilhelmgunkel?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Wilhelm Gunkel</a> on<a href="https://unsplash.com/wallpapers/colors/gold?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Unsplash</a>.

This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.

Photo by <a href="https://unsplash.com/@dionbeetson">Dion Beetson</a> on <a href="https://unsplash.com/">Unsplash</a>&nbsp;

The following post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga.

For the first time since 1991, a drill is on its way to Gooseberry mine.&nbsp;

Led by the team at American Pacific Mining Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/USGDF#OTC">USGDF</a>), this initiative aims to revitalize a mine that produced gold and silver grades as high as <a href="https://www.americanpacific.ca/site/assets/files/4130/american_pacific_investor_presentation_october_4_2021.pdf">113.8 grams per tonne (g/t)</a> and 4,578 g/t.&nbsp;

To understand the magnitude of such findings, consider that the <a href="https://www.gold.org/goldhub/research/library">World Gold Council</a> classifies superior quality mines at around 8 g/t to 10 g/t gold.

American Pacific Mining is not alone in the search for quality gold mines. Arizona Metals Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AZMCF#OTC">AZMCF</a>), Liberty Gold Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LGDTF#OTC">LGDTF</a>), Blackrock Silver Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BKRRF#OTC">BKRRF</a>), and Northern Superior Resources Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSUPF#OTC">NSUPF</a>) are all participants in the race to strike gold (and silver).&nbsp;

A key differentiator for the company, and a core reason its grades are at 10 times industry standards, is because of the mine&rsquo;s proximity and structural similarity to the Comstock Lode.&nbsp;

<iframe height="314" src="//www.youtube.com/embed/T6JUAiisy50" width="560"></iframe>

<h2>The Comstock Lode</h2>

Between the mid-19th to mid-20th centuries, the <a href="https://en.wikipedia.org/wiki/Comstock_Lode#:~:text=Credit%20for%20the%20discovery%20of%20the%20Comstock%20Lode,his%20foot%20and%20died%20of%20sepsis%20in%201857.">Comstock Lode</a> was the largest gold mine in the U.S., accumulating 8.6 million ounces of gold and 270 million ounces of silver. At 2,900 feet, the Comstock Lode averaged roughly 566 g/t gold, a ludicrous figure by industry standards.&nbsp;

American Pacific Mining&rsquo;s Gooseberry mine is not only 15 miles away from the Comstock Lode, it also bears the same rocks, Kate Peak andesites, as the historical giant does.&nbsp;

Unfortunately for Gooseberry explorers in 1991, budgets for exploration were tight, and the expedition ended prematurely at a depth of 1,150 feet &mdash; less than 50% of Comstock&rsquo;s depth &mdash; with ore right ahead of them. The company that owned it referred to the ore as reserves at that time.

Since then, modern exploration of this mine has been extinct &mdash; until now.&nbsp;

<h2>Primed for Exploration</h2>

<img alt="image001_1.jpeg" src="https://www.benzinga.com/files/images/2021/October/27/image001_1.jpeg" style="height:425px; width:877px" />

Image Courtesy of APM

Located in a relatively remote area on the mountain ranges of Nevada, the Gooseberry mine was poorly situated for a cheap and steady power source to maintain its exploratory efforts. Instead, generators fed the mine&rsquo;s activity, and this proved a costly and unsustainable solution.&nbsp;

Now, a newly fashioned gravel road provides a route to a new electric substation. With power coming in from the north, there&rsquo;s no need for the bottle-necking costs of generators, and the mine is far more primed for a cost-efficient exploration program.&nbsp;

<h2>Untapped Potential</h2>

While the past performance of the Gooseberry mine is exceptional, there could still be untapped potential. The Gooseberry mine is reporting stronger grades at depth, and this depth is ready for exploration.&nbsp;

With the developments set to optimize cost efficiency and the mine&rsquo;s proven track record, American Pacific Mining could be on the periphery of a lucrative find.&nbsp;

The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

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