Company: Northern Superior Resources Inc., TSVX: SUP, OTCQB: NSUPF, FSE-FWB: D9M
President & CEO: Tom Morris
Headquarters: Sudbury, Ontario, Canada
Number of locations: 2 active, 6 inactive
In current role: 12 years
There are three key factors that set Northern Superior Resources (Northern Superior) apart from its peers – people, quality of assets and the opportunities.
Northern Superior is a mineral exploration company that identifies and explores large, district-scale gold-bearing systems in Ontario and Québec. “Northern Superior uses its own, vast geoscientific database to identify worthwhile gold exploration opportunities. We advance these projects through discovery using a unique approach to exploration with the intent of either optioning, joint venturing or selling the asset,” explains Dr. Tom Morris, president and chief executive officer, Northern Superior. The company is currently focused on two of its advanced assets, both fully owned by Northern Superior – the Lac Surprise gold property in Québec and TPK gold-silver-copper property in northwestern Ontario, with a C$3 million exploration budget planned for both properties in 2019.
TPK is a gold-silver-copper property located approximately 50 kilometres east of the famed ‘Ring of Fire.’ TPK gained significant attention in late 2018, when the company announced it had secured Yamana Gold Inc. (Yamana) as a strategic partner to develop this property, granting Yamana the option to earn a 70% ownership interest in TPK by satisfying various earn-in, spending ($10 million) and cash payment commitments ($1 million).
Following this strategic development, Northern Superior initiated a core drill program on this property in February 2019 to test six target areas, which aimed to identify at least one favorable zone defining a wide area of potential economic mineralization. In fact, eight gold-bearing structures and alternation zones were identified; this from only 15 drill holes or 3,228 metres of drilling. The program also provided additional information of the size of these structures, clearly demonstrating the potential of the property to host economic deposits of gold along each of the eight structures.
“We are pleased to have had this opportunity to pursue our newly designed exploration program on this important and highly prospective property. The mandate of this program has been clearly met: to define a regional-scale, bedrock hosted mineralized system(s) capable of hosting economic concentration of gold as indicated by the unique regional scale gold signature observed within the overburden associated with the Big Dam area of the property,” comments Dr. Morris.
Morris’ team is also looking to develop its Lac Surprise gold property, located within the Chapais-Chibougamau exploration and mining camp. “This property contains at least two gold-bearing systems. The northern system extends east and along strike off the property onto IAMGOLD’s Nelligan property, within which IAMGOLD has discovered, and is now developing, a gold deposit.” The property is easily accessible by road and is surrounded by three communities that can support all exploration and mining activities. Although always open to considering partnerships on any of its properties, Northern Superior will be initiating a summer exploration program on Lac Surprise once core drilling is completed at TPK. The Lac Surprise program will focus on airborne magnetics and a core drilling program.
Northern Superior’s portfolio of quality, large, gold-bearing assets is supported by an experienced management and technical team. “Not only has this team of geoscientists and executives put forward the excellent mineral exploration opportunities that the company is currently focused on, it also had the foresight to develop an exceptional geoscientific database (nearly a terabyte in size) capable of identifying the next generation of mineral exploration opportunities,” says Dr. Morris.
Morris himself has an impressive background having studied quaternary geology at the University of Western, Ontario and the University of Alberta. “My education provided me with an incredible appreciation of the earth sciences and the extraordinary people involved with science.” Among the people who influenced Morris’ path was Dr. John England, his former PhD. thesis advisor. “He talked me out of my program in soil science and my aspirations of becoming a high school teacher. John introduced me to Quaternary Geology.” As a result, Morris was presented with an opportunity to work in the high Arctic (Prince of Wales Island). The biggest challenge so far has been financing the company’s exploration activities amidst a depressed gold cycle. But Morris says they are making positive strides. “Northern Superior is now positioned to expose the Company’s shareholders to the real potential of wealth creation through meaningful and exciting exploration programs on its 100% owned TPK property and the Lac Surprise property and through the re-organization of the company’s share structure in January 2019.
When we asked Dr. Morris to tell us why now is the time to invest in Northern Superior, he offered these three reasons:
1) The acquisition of a strategic partner (Yamana Gold Inc.) for the TPK property.
2) Completion of $1 million (Canadian) financing (Q4, 2018) to support an exploration program on the Lac Surprise property.
3) Completion of a 10:1 consolidation – a necessary and obvious event to execute, ensuring the long- term viability of the Company.”