The Lamarck Creek gold property represents the amalgamation of the Company’s former Lamarck Creek and Chibougamau gold properties. In November of 2011, Northern Superior signed an option agreement with Paget Minerals Corporation (Paget) granting Paget an option to acquire a 50% interest in the Lamarck Creek gold property. To exercise the Option, Paget must fund expenditures on the property of not less than, in aggregate, of $1,320,000. Paget has the right to accelerate expenditures to earn-in. Northern Superior will be the operator of the project during the Option period.
The property is located in north-central Québec within the Chapais-Chibougamau section of the Abitibi Greenstone Belt, approximately 40 km west of Chapais and 80 km west of Chibougamau, Québec. The western part of the property is cross-cut by the northeast trending Lamark Fault, a regional structure that extends southwest through the Lac Shortt and Bachelor Lake gold deposits. The Kapunapotagen Fault trends east-west passing across both the Chibougamau River and Lamarck Creek Faults. The property consists of 294 mining claims (16,464 hectares).
2011
Exploration Highlights
a) Combined property, formerly Chibougamau River and Lamarck Creek;
b) Completed sonic drill program consisting of 44 holes or 748 m (626 m of unconsolidated material and 12 m of bedrock);
c) Completed an overburden sampling program, samples submitted for gold grain analysis;
d) Signed an option agreement with Paget Minerals Corporation (“Paget”– see press release November 22, 2011); and
e) Completed a two hole, 618 m diamond drill program focused on a shear zone defined by airborne geophysics and an INAA gold till anomaly.
Mast head of a sonic drill rig. Sonic drilling proved very effective in sampling both overburden and rock material, defining 5 interesting diamond drill targets on the property.
2012 OUTLOOK
a) Assess results from 2011 diamond drill program and plan future exploration programs based on these results.