TORONTO, ONTARIO–(Marketwired – Jan. 13, 2016) – Superior Copper Corporation (TSX VENTURE:SPC) announces that recent drilling, initiated on November 16, 2015, supports the proposed structural model at its 100% held Superior Project, located on the Trans-Canada Highway 85 kilometers north of Sault Ste. Marie, Ontario.
Multiple zones of open-space, quartz-carbonate veins were intersected at angles that agree with the proposed model in all three of the completed holes. In addition, several veins of other types were intersected at similar angles. More work is needed to confirm the nature and distribution of each vein type; however, the Company is encouraged by this preliminary technical success.
The characteristics of the structures intersected in this program are similar to known copper occurrences on the property and may represent a barren zone of the same system. Many significant deposits, including Iron-Oxide-Copper-Gold type (IOCG), are known to have associated carbonate veins occurring over a large footprint relative to the mineralized zones.
Drilling has been put on hold as no significant assays were returned. Going forward, the Company is considering options to delineate more favorable zones.
Technical information contained within this release has been reviewed and approved by Morgan Quinn, P. Geo. who is a “Qualified Person” under National Instrument 43-101 and a consultant to Superior Copper Corporation.
About 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, in order to meet the continual global demand. Its primary land position is its 100%-owned Superior Project, which covers 17,209 hectares or 172 square kilometers, and is located approximately 85 km north of Sault Ste. Marie, Ontario. There are no royalties on the property and the Company has approximately $3.8 million dollars in working capital.
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange (“TSX-V”) nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain “forward-looking statements”. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, use of proceeds from the Offering, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws. Please see our public filings at www.sedar.com for further information.
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