Superior Copper Acquires Fifty Percent of the Richards Breccia
July 15 2012 - 5:22PM
PR Newswire (Canada)
TSXV Symbol: SPC Shares Outstanding: 64,754,269 TORONTO, July 16,
2012 /CNW/ - Superior Copper Corporation has entered into an
agreement to acquire fifty percent of the Richards Breccia Property
located in Ryan Townships near Batchawana Bay, approximately 80
kilometres north of Sault Ste. Marie, Ontario; subject to
regulatory approval. Superior Copper will acquire a 50%
interest in the project by issuing 750,000 shares to the vendor;
Delio Tortosa. The Richard's Breccia Property covers 2 unpatented
mineral claims over 128 hectares. The property is located in the
Batchawana Greenstone Belt of the Archean Superior Province near
the margin of the Proterozoic Southern Province. The property
contains the Richards Breccia Prospect, a near vertical diatreme
breccia which intrudes the metavolcanic rocks of the Batchawana
Greenstone Belt. The breccia is thought to be mid-Proterozoic in
age, similar to the Tribag Breccias which were mined in the late
1960's and early '70s and are located 10 kilometres to the
northeast. In 1997 and 1998, Aurogin Resources drilled three
shallow holes into the Richards Breccia which encountered
significant copper mineralization (AR97-24: 0.67% Cu over 13.7
metres; AR97-25: 0.86% Cu over 40.5 metres; AR98-07: 1.46% Cu over
26.8 metres). Mineralization consists of disseminated chalcopyrite
accompanied by quartz, biotite, calcite, and hematite. The breccia
was intersected to depths of 40 to 80 metres and is circular in
shape, with an exposed surface expression of approximately 50
metres in diameter. 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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