- Published: 27 January 2011
- Written by Editor
Supreme drills up to 1.23 % Copper, 132 grams Silver on Verde at Copper Mountain
Supreme Resources Ltd. (SPR.V - SPRWF-OTC) ("the Company") is pleased to announce the completion of eight drill holes (V1001-V1008) at the Verde project. The Verde project is located 14 kilometres south of Princeton BC and adjacent to the east of the holdings of Copper Mountain Mining Corporation's Copper Mountain mine. (http://www.cumtn.com )
The current 2010 measured and indicated resources at the Copper Mountain mine are 518.6 million tons of 0.31% Cu containing 3.2 billion pounds of copper with gold-silver credits. The Copper Mountain mine is 75 per cent-owned by Copper Mountain Mining Corporation and 25 per cent-owned by Mitsubishi Materials Corporation. The construction of the Copper Mountain mine is on schedule for full production in June of 2011.
The drilling at the Verde project tested the copper-silver mineralization exposed in trench 1. Four of the drill holes (V1004-V1007) contain significant copper and silver values associated with the fine grained malachite and chalcopyrite mineralization exposed on surface at trench 1.
The Verde trench 1 sampling in March of 2010 returned a 14.5 metre interval grading 0.34% copper, 4.5 grams per tonne silver and 0.03 gram/tonne gold, including 9 metres grading 0.49% copper, 6.8 grams/tonne silver and 0.04 gram/tonne gold. Malachite, limonite, chalcopyrite and magnetite occur along fractures and as disseminations within moderately fractured diorite of the Voigt stock.
During the excavation of the drill site for holes V1004-V1007 above trench 1, strong malachite and chalcopyrite mineralization was exposed along the back of the drill site. Sampling along the back of the drill site (trench-5) returned an 18.0 metre interval grading 0.36% copper and 3.7 grams/tonne silver, including 7.0 metres grading 0.59% copper and 6.5 grams/tonne silver.
Drill holes V1004-V1006 were fanned out in a southerly direction above trench 1 and tested the copper-silver mineralization over a strike length of 15 metres, while drill hole V1007 was drilled in a northerly direction. Near surface malachite and chalcopyrite mineralization was intersected in all four drill holes with significant copper and silver values. Following is a summary of the significant drill intersections:
------------------------------------------------------------------ |2010 VERDE DRILLING RESULTS| |----------------------------------------------------------------| |Drill Hole | |From m|To m |Interval m|Copper %| |----------------------------------------------------------------| |V1004 | |0.00 |13.61|13.61 |0.22 | |----------------------------------------------------------------| | |and|0.00 |6.34 |6.34 |0.43 | |----------------------------------------------------------------| | |and|0.96 |1.68 |0.72 |0.11 | |----------------------------------------------------------------| |V1005 | |0.00 |6.51 |6.51 |0.37 | |----------------------------------------------------------------| | |and|0.00 |4.22 |4.22 |0.54 | |----------------------------------------------------------------| |V1006 | |0.00 |12.04|12.04 |0.38 | |----------------------------------------------------------------| | |and|0.00 |4.98 |4.98 |0.83 | |----------------------------------------------------------------| | |and|1.22 |1.98 |0.76 |1.23 | |----------------------------------------------------------------| |V1007 | |0.00 |7.05 |7.05 |0.11 | |----------------------------------------------------------------| | |and|0.00 |2.26 |2.26 |0.28 | ------------------------------------------------------------------
The high overall silver values are of particular interest, highlighted by 132 grams/tonne silver (4.19 oz/t ) over 0.72 metres (0.96-1.68 metres) in drill hole V1004 and 32.2 grams/tonne silver (1.02 oz/t ) over 0.76 metres (1.22-1.98 metres) in drill hole V1006.
The copper-silver mineralization at the Verde project is associated with a northeast-southwest trending copper-silver soil geochemical anomaly. The soil geochemical anomaly extends 200 metres northeast and 100 metres southwest of the 2010 drilling and is open to the northeast. Supreme plans an early spring trenching program to extend the mineralization in drill holes V1004-V1007, followed by a program of core drilling.
The remaining drill holes from the 2010 Verde drill program did not intersect significant copper-silver mineralization.
Core is logged and split with a diamond saw at a secure core storage facility. Eco Tech Laboratory Ltd. of Kamloops B.C., an accredited laboratory and subsidiary of Alex Stewart Group Ltd. conducted the sample preparation and analysis. All samples were analyzed by 35 multi-element ICP analysis, aqua regia digestion, and AES finish. All samples over 1000 ppm copper are being analyzed for gold, platinum and palladium by 30 gram fire assay geochem/A.A. finish. These results are expected in the next several weeks. The sample stream was subject to check analysis on repeat and re-split samples.
TAS Project Assays Update
Assays results are imminent from 4 diamond drill holes completed on the TAS project located south of Copper Mountain's Pit #3, and the adjoining Oriole area.
Recent results released by Copper Mountain from the Pit 3 area and reported by Stockwatch stated "Copper Mountain drills 94 m of 0.72% Cu".
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aCUM-1799534&symbol=CUM®ion=C
Al Levien CEO states "We are very pleased with the Verde results; overall the Verde grades are comparable to Copper Mountain's average of 0.31% copper. The company is looking forward to receiving the TAS results."
Grant F. Crooker, P.Geo, (geologist) is the qualified person as defined by National Instrument 43-101 who supervised the preparation and verification of the technical information in this release.
Further news will be forthcoming in the near future.
ON BEHALF OF THE BOARD
"Allan Levien"
____________________________
Allan Levien
President
About Supreme Resources Ltd.:
Supreme Resources Ltd. is a junior exploration company with advanced base and precious metals projects located in producing mining districts of British Columbia, Canada. Supreme Resources' goal is to increase shareholder value by developing exploration projects that have the potential of becoming new discoveries.
Website: www.supremeresourcesltd.com
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Statements in this press release other than purely historical factual information, including statements relating to revenues or profits, or the Company's future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, the Company expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the Company's securities set out herein in the United States, or to, or for the benefit or account of, a U.S. Person or person in the United States.
