Superior Copper Acquires the Glenrock Property
June 26 2012 - 8:00AM
PR Newswire (Canada)
TSX-V Symbol: SPC Shares Outstanding: 61,904,269 TORONTO, June 26,
2012 /CNW/ - Superior Copper Corporation has entered into an
agreement to acquire the Glenrock Property located in Palmer and
Ryan Townships near Batchawana Bay, approximately 70 kilometres
north of Sault Ste. Marie, Ontario. Superior Copper will acquire a
100% interest in the project, subject to a 1.5% net smelter return
previously granted to a third party, by issuing 2.1 million shares
to Hudson River Minerals Ltd. The acquisition is subject to
regulatory approval. The Glenrock Property covers 18 unpatented
mineral claims over 2,515 hectares. The property is located
in the Batchawana Greenstone Belt of the Archean Superior Province
near the margin of the Proterozoic Southern Province. In 1953,
Glenrock Mines Ltd. trenched known gold showings and drilled 11
diamond drill holes for a total of 721 metres. The best
intersection encountered 2.9 grams per tonne gold over 6.4 metres
including a higher grade interval of 6.24 grams per tonne gold over
2.4 metres. In 1987-88, Duration Mines explored multiple
narrow quartz veins and drilled 15 diamond drill holes for a total
of 1,766 metres. The best intersection encountered 3.06%
copper, 43 grams per tonne silver and 1.6 grams per tonne gold over
6.53 metres. Most of the historic drilling was completed
within 30 metres of surface. In the early 1990's, Noranda Inc.
completed 2 exploration trenches, 50 metres apart, across the main
Glenrock trend with grades returning 3.96 grams per tonne gold over
8 metres and 4.68 grams per tonne gold over 6 metres. The technical
information contained in this news release has been reviewed by
Roger Moss, P. Geo. who is a "Qualified Person" under National
Instrument 43-101 and a Director of Superior Copper. The historical
results presented here have not been verified, and are given for
information purposes only. 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 increasing
global demand. The Company has two key exploration projects;
the Batchawana Copper Project and the Rivière Doré Project in
Quebec. CAUTIONARY STATEMENT: Neither TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) 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, 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.
Superior Copper Corporation CONTACT: Superior CopperJudy Baker,
President & CEOTel: 416.479.0893 Ext 401Email:
jbaker@superiorcopper.caWeb site: www.superiorcopper.ca
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