Business
Supreme Acquires New Copper Mountain Properties Increases Land Position to more than 30,000 acres
May 11, 2011 (TheNewswire.ca) -- SUPREME RESOURCES LTD. (SPR.V- SPRWF-OTC)(the "Company") is...
About this update from Super Lithium Corp.
[{"type":"text","content":"\nSupreme Acquires New Copper Mountain Properties Increases Land Position to more than 30,000 acres\n\n May 11, 2011 (TheNewswire.ca) -- SUPREME RESOURCES LTD. (SPR.V- SPRWF-OTC)(the \"Company\") is pleased to announce the acquisition by staking of two mineral claims adjacent to the TAS property at Copper Mountain in southern British Columbia. The two tenures cover 611.25 hectares and are located approximately 5 kilometres south of Copper Mountain Mining Corporation's (TSX:CUM) Copper Mountain mine.The Ox Minfile showing occurs within the area of new staking and is underlain by Upper Triassic Nicola group volcanic rocks that have been intruded by small dykes and bodies of diorite related to the Copper Mountain intrusions. Chalcopyrite, pyrite and magnetite are reported to occur as disseminations in brecciated volcanic, sediments and diorite.Previous work on the Ox showing includes an aeromagnetic survey conducted by Kechika Mines Ltd in 1969. The survey indicated several magnetic highs and steep magnetic gradients that may be indicative of diorite of the Copper Mountain Intrusions. Geological mapping is also reported to have been conducted in the area but there is no documentation of the work.Supreme intends to investigate the Ox showing as soon as weather conditions permit. The work will initially consist of geological mapping and prospecting, with additional work after the preliminary assessment has been completed.Supreme Resources Ltd. holds the largest land position of all companies located in the Copper Mountain area with over 30,000 acres of holdings adjacent to the Copper Mountain mine, including the TAS property.The Company's TAS projects are located with close proximity to the Copper Mountain mine and the Oriole and Rifle areas south of the open pits of Copper Mountain.The current 2010 measured and indicated resources at the Copper Mountain mine are 518.6 million tons of 0.31 per cent 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 2011, producing 100 million pound of copper concentrate annually.Further news will be forthcoming in the near future.ON BEHALF OF THE BOARD\"Allan Le...