VANCOUVER, BC,
Highlights:
Superior Mining International Corp. will obtain 100% of Monexco Group Property, north ofChibougamau, Québec - The property includes known high-grade gold surface occurrences distributed over about 400 metres of strike length
- Property straddling a newly defined regional structure with proven fertility for gold
- Close to infrastructures and all year long accessibility
The Monexco gold trend has several historical gold grades in the 10 g/t to up to 126.8 g/t* range from various stripped areas distributed over 400 metres of strike length. The whole land package is centered on the
* Technical Report on the Monexco Property, McCorkill Township,
The
Source: Mineral Potential of the
The regional geology was well documented over decades of mapping and drilling works, mainly through favorable outcropping conditions when compared to the remainder of the Abitibi Belt. Unlike the copper bearing veins exploration, little attention was devoted to gold systems. Monexco gold showings (see map) follow a North-East inferred strike slip fault intersecting the East-West Faribeault shear and fault zone.
Monexco Gold Trend and Showings
The Monexco cluster of high-grade gold showings covers an area making approximately 400 metres along strike and 400 metres across the main structure. The quartz-tourmaline veins and quartz-carbonate-pyrite veins sets follow East-West and North-East orientations, hosted in strong iron carbonate alteration affecting both mafic volcanic, gabbros and quartzo-feldspathic dykes. A dozen or so stripped and sampled areas were recorded accurately by a previous operator. Following table summarised compiled historical results and observations from four main areas. Displayed coordinates are centered on each stripped area and represent a distance of about 100 to 150 metres between each location.
Gold showing | Mineralization | Geological control | Sampling |
Monexco #1 572250E/5538900N | North-south to north-east quartz-tourmaline veins cross cutting quartz-feldspathic dykes and gabbro sill. | Strike slip shearing and iron carbonatization along quartzo-feldsapthic dykes contacts. | 1 g/t to 42.8 g/t from 18 over 51 chip samples. |
Rivière Nord 572100E/55388855N | East-west, north-east, south-west veins and veinlets network. | Gabbro-basalt sheared contact with strong iron carbonatization. | 3.1 g/t to 22.7 g/t from 4 over 32 channel samples. |
Monexco #3 572425E/5538875N | North-south to north-east quartz-tourmaline veins cross cutting quartz-feldspathic dykes and gabbro sill. | Strike slip shearing and iron carbonatization along quartzo-feldsapthic dykes contacts. | 1 g/t to 9 g/t from 6 over 23 channel samples. |
"VG" 572255E/5538475N | North-east, and north-west moderately dipping, conjugated tensional veins sets. Finely disseminated pyrite in veins and host rocks with sporadic visible gold. | 3 to 7 metres wide cross cutting north-east fracture zones followed over 30m. | 1 g/t to 16 g/t from 9 over 124 channel samples. |
Caurionary Note: these historical results are played as examples of the grade distribution over particular areas. Their local provenance avoid to trace no assumption about the average grade or continuity of a mineralized structure.
Ref: Technical Report on the Monexco Property, McCorkill Township,
Faribeault Fault Potential
The Province, through the MERN (Ministère Energie Ressources Naturelle), has highlighted an area south of the
The Monexco Group Property covers about 30km of this main structure, it also extending over north-east trending lineament which were recognized using magnetic data enhancement and filtering.
Terms of the Agreement
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This press release was prepared by
ON BEHALF OF THE BOARD
"
_________________________
Chief Executive Officer and Director
Neither the
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Superior assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
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