Superior Copper Announces Staking of New Claims at the Coppercorp Project
March 06 2014 - 2:12PM
Marketwired
Superior Copper Announces Staking of New Claims at the Coppercorp
Project
TORONTO, ONTARIO--(Marketwired - Mar 6, 2014) - 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.
Project Update
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.
Shares Outstanding: 101,606,284
Superior Copper CorporationJohn TaitPresident and
CEO416-628-5905jtait@superiorcopper.cawww.superiorcopper.ca
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