Superior Mining International Corp. Acquires the High‐Grade Monexco Group Gold Property, Chibougamau, North Québec
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Superior Mining International Corp. Acquires the High‐Grade Monexco
Group Gold Property, Chibougamau, North Québec
Vancouver, British Columbia – November 30, 2021 – Superior Mining International Corp.
(“Superior Mining” or the “Company”) (TSX-V: SUI) (OTC: SUIFF) is pleased to announce
it has reached an agreement with a private firm for the acquisition of the Monexco Group
Property located about 10km north of the town of Chibougamau, Northern Quebec
region. The Property, extending for 30km on its longest axis, is comprised of 204 claims
totalling more than 11,000 hectares.
Highlights:
Superior Mining International Corp. will obtain 100% of Monexco Group
Property, north of Chibougamau, 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 Faribeault Fault Zone and associated cross cutting
structures identified for its gold potential by the province of Québec MERN (Ministère
Énergie et Ressources Natuelles).
* Technical Report on the Monexco Property, McCorkill Township, Chibougamau, Québec, Vol 1.
Prepared for Typhoon Exploration Inc. Martin Demers P.Geo., March 6th 2018.
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Chibougamau Area
The Chibougamau segment corresponds to the northeastern portion of the Abitibi
greenstone Belt. The area can be represented as a folded sequence of mafic to felsic
volcanic sequences interlayered with sediments. An allmark of the area is the extensive
layered mafic and ultramafic intrusions interposed in the stratigraphic sequence. The
Doré Lake complex is the main host of the Chibougamau Central Camp and had
historical production of 74Mt for a metal production of 4.3 Moz and 1.3Mt of copper
extracted from polymetallics veins and shears zones.
Source: Mineral Potential of the Chibougamau Mining District, PRO 99-05, MERN
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.
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Monexco Gold Trend and Showings
The Monexco cluster of high-grade gold showin gs covers an area making approximately
400 metres along strike and 400 me tres across the main structure. The quartz-tourmaline
veins and quartz-carbonate-pyrite veins sets follow East-West and North-East
orientations, hosted in str ong iron carbonate alteration affe cting both mafic volcanic,
gabbros and quartzo-feldspathic dykes. A dozen or so stripped a nd sampled areas were
recorded accurately by a previous ope rator. Following table summarised compiled
historical results and observations from fo ur 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
(UTM nad83Z18)
Mineralizatio
n
Geological control Sampling
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Caurionary Note: these historical results are play ed as examples of the grade distribution over
particular areas. Their local provenance avoid to trace no assumption abou t the average grade or
continuity of a mineralized structure.
Ref: Technical Report on the Monexco Property, McCorkill Township, Chibougamau, Québec, Vol 1.
Prepared for Typhoon Exploration Inc. Martin Demers P.Geo., March 6th 2018.
Faribeault Fault Potential
The Province, through the MERN (Ministère Energie Ressources Naturelle), has
highlighted an area south of the Faribeault Fault Zone extending al ong the property for
about 5km of strike length as a favorability zone for orogenic gold deposits. The structure
shows similarities with other re gional gold bearing structures of the Abitibi Belt such as
the proximity of discordant lithological contac ts, strong iron carbonate alteration, a high
density of dykes and cross cutting north-east strike slip faults.
The Monexco Group Property covers about 30km of this main structure, it also extending
over north-east trending lineam ent which were recognized using magnetic data
enhancement and filtering.
Terms of the Agreement
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.
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Superior Mining International Corp. will pa y an aggregate amount of $100,000 and issue
3.3 million shares in exchange for 100% interest in the Property. The Sellers retain a Net
Smelter Return (NSR) royalty of 3%. The le vel of the Royalty ma y be reduced at any
time from 3% to 2% subject to certain payments.
Qualified Person
This press release was prepared by Martin Demers P.Geo,OGQ (#770), who is a qualified person
as defined under National Instrument 43-101, and who has reviewed and approved the geological
information provided in this news release.
ON BEHALF OF THE BOARD
“Brent Butler”
_________________________
Chief Executive Officer and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this
news release.
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 "U.S. Securities Act"), or any state securities laws, and may not be offered or
sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S
of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information
purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the
Company in any jurisdiction.
Superior Mining International Corp.
646-661-0409
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
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such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.