|By Marketwired .||
|March 6, 2014 02:13 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 03/06/14 -- Superior Copper Corporation ("Superior Copper" or the "Company") (TSX VENTURE:SPC) is pleased to announce that it has staked 22 claims covering 3,973 hectares adjacent to its 100% owned Coppercorp Project in the Mamainse Point area, located approximately 85 kilometres north of Sault Ste. Marie, Ontario. The addition of the new claim block increases the Company's current land position at its Coppercorp Project to 15,789 hectares or 158 square km. See attached map for reference.
Superior Copper plans to focus its exploration efforts on targeting areas with the most potential of a significant new discovery. Models being considered include Iron-Oxide-Copper-Gold ("IOCG") type deposits in the Proterozoic Keewenawan Supergroup and ultramafic hosted Nickel-Copper-Platinum Group Element types in the adjacent Archean.
The IOCG model will be targeted due to similar mineralogical, geological, tectonic, alteration and geophysical characteristics found in the IOCG family type deposits similar to the large deposits in southeast Australia (Olympic Dam, Ernest Henry, Prominent Hill) and the Carajas District in Brazil. Of significance at the Coppercorp Project is a large 5 x 5 km regional magnetic high with coincident gravity anomalies. This same geophysical correlation has led to many of the discoveries of IOCG-type deposits around the world. Mamainse Point has been identified as prospective for IOCG-type deposits by previous companies (Falconbridge Ltd./Intrepid Minerals Corp.), however drilling to date has been minimal and shallow, 2 holes less than 225 meters vertical each and no drilling has explained the magnetic or gravity highs.
The Olympic Dam deposit, which has hosted 9 billion tonnes of 1.6% copper, 0.6 kilograms per tonne uranium-oxide, 0.6 g/t gold, and 6 g/t silver was discovered 335 m below flat lying sediments after targeting a coincident magnetic-gravity high anomaly. Superior Copper has commissioned Geotech Ltd. to fly an airborne ZTEM survey in March 2014, which will aid in targeting these deeper-seated IOCG-type deposits.
The ultramafic intrusion hosted Nickel-Copper-Platinum Group Element model is based on deposits found around the edges of Lake Superior Mid Continental Rift. Model types include the Eagle Mine in Michigan (5.3 million tonnes ("mT") 3.1% nickel and 2.5% copper), the Tamarack discovery in Minnesota (9 mT of 1% nickel and 0.7% copper, the Marathon Coldwell Complex in Ontario (91 mT with 2.4 million ounces ("oz") palladium, 696,000 oz platinum, 251,000 oz gold, 497 million pounds copper and 4.2 million oz silver) and more recently the PGE discovery by Transition Metals Corp. at their Sunday Lake Project north of Thunder Bay.
Typically these deposits are characterized by circular magnetic highs that may represent pipe-like conduits that host mineralized magma deposited during intracontinental rifting events. A number of these similar magnetic features have been identified on the Superior Copper claim group from historical geophysical data but have failed to be recognized as a potential target by previous companies.
"The project now covers the majority of prospective geology at Mamainse Point, Ontario giving Superior Copper control over this exciting exploration play. Our geologists are working diligently on targeting two deposit model-types, both of which have the potential to result in a significant new discovery," said President and CEO John Tait.
Superior Copper Corporation
Superior Copper Corporation is a Canadian-based exploration company focused on base and precious metal exploration. The Company's primary objective is to target highly prospective and underexplored mineral properties, particularly copper. Its primary land position is its 100% owned Coppercorp Project which covers 15,789 hectares or 158 square km in the Mamainse Point area, located approximately 85 km north of Sault Ste. Marie, Ontario.
For more information about the Company, please visit www.superiorcopper.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/CoppercorpMAP06.pdf.
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