Sudbury’s Northern Superior Resources has taken back full control of its high-grade TPK gold-silver-copper property in the Far North.
Yamana Gold, the strategic mining partner brought aboard in 2018, has decided not to continue on with an option agreement with the junior miner. Northern Superior is now looking for a new partner.
“As much as we would have liked Yamana to continue its earn-in,” said Northern Superior president Tom Morris in a Nov.26 news release, “their decision to opt out provides an opportunity for others to participate in this unique, camp-scale, regional mineral exploration play in a stable exploration and mining friendly jurisdiction, this is at a time when such opportunities are essentially non-existent.”
The TPK (Ti-Pa-Haa-Kaa-Ning) property is 50 kilometres west of the Ring of Fire and 150 kilometres east of Newmont Goldcorp's Musselwhite Mine.
It’s situated north of Neskantaga First Nation with whom the company recently extended an early exploration benefits agreement with the community for another three years.
The company refers to TPK as a potential “district-scale” mining opportunity, hosting two large, but separate, high-grade gold systems with surface showings of silver and copper.
Northern Superior said they benefitted from the Yamana partnership over the past year.
Yamana’s $2-million investment at TPK helped them gain a better understanding the geological structure of the area, the company said. Eight gold-bearing shear systems were discovered that Northern Superior claims have potential to be economic gold deposits.
TPK is one of Northern Superior’s two main exploration assets, the other being its Lac Surprise property in Québec.