Announcement Date: 2022-09-26
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Superior Gold Inc.
Project name: Plutonic
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 27.3m at 10.51g/t Au from 1.5m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Toronto, Ontario, Sept 26, 2022 – Superior Gold Inc. (“Superior Gold” or the “Company”) (TSXV:SGI; OTCQX:SUPGF) is pleased to announce additional high-grade drill results from its ongoing underground diamond drill program at Indian Access at its 100%-owned Plutonic Gold mine in Western Australia. The results announced today expand the Caribbean and Indian zones, directly adjacent to existing underground infrastructure, minimizing potential capital to develop. The location of this drilling is shown in Figures 1 to 5 below. The intersections are shown in Table 1 below. Reported intersections are over a minimum downhole length of 0.30 metres (~0.20 metres true width). Chris Jordaan, President, and CEO of Superior Gold stated: “These excellent drill results continue to support the Company’s strategy of re-interpreting and re-evaluating historical areas of Plutonic to support future production with new mining fronts and reducing our reliance on remnant mining areas. These results announced today give us further confidence that high-grade extensions of the Plutonic orebody can be systematically targeted, and that significant mineralization can still be discovered. Our strong results include 7 intercepts containing over 20-gram per meter (downhole intersection length times gold grade uncut) and 29 intercepts containing over 4.5-gram per metre on a total of 17 holes. The high drill success rate from this project area reflects the effectiveness and accuracy of the reinterpretation and remodeling approach currently applied.
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