Trading Symbol: SPR - TSXV
COQUITLAM, BC, Oct. 7 /CNW/ - Supreme Resources Ltd. (Supreme) is pleased to provide an update on geophysical exploration results at its TAS (Copper) Project, located in the Copper Mountain Mining Camp, in the Similkameen Mining Division of southwest British Columbia.
Supreme has a large claim (1306 hectares) under option from Grant Crooker, P.Geo., situated immediately south and east of the property of Copper Mountain Mining Corp. (TSX.CUM) and staked claims to the south of the optioned ground. Additional claim staking has just been completed. The optioned claim has two Minfile showings (92H5 SE 192 and 193) explored in the past with geochemical and geophysical anomalies and known showings of copper mineralization. Other mineralized showings found by Grant Crooker in 1997 are not included in Minfile but are described in Assessment Report 25102 (Crooker, 1997).
An Interpretation Report by Quantech Geoscience Ltd. has recently been received describing a Titan 24 Deep Earth Imaging Survey completed earlier in the summer.
A Titan-24 survey was carried out over the TAS project area, British Columbia, Canada, between May 15th and June 1st 2009. The survey grid included five lines totaling 18 kilometers (19.5 km with extensions). The Titan 24 system is basically a deep Induced Polarization (IP) method used on the adjacent Copper Mountain porphyry copper-gold deposit.
Three lines were surveyed in the optioned claim and two lines in the claims to the south (Belgie Creek area) The data were inverted using 2D inversion algorithms to produce maps and sections showing resistivity and chargeability of the subsurface. The primary objective of the geophysical surveys was to locate potential copper mineralization targets to a depth of 750 m in the TAS claims area which could potentially be related to the mineralization found at the Copper Mountain mine, located adjacent to the TAS project.
Results of the surveys are summarized from the Interpretation Report by A. Verweerd Dr. Rer Nat. (M.Sc. Equivalent) and Kevin Killin (Hon. B.Sc., of Quantec.
Northern area: The resistivity surveys on the northern lines show a conductive overburden of approximately 100 m thickness. However, The chargeability models of the northern group of lines show a large highly chargeable feature in the southern extent of all three lines, potentially outcropping on the west and dipping towards the north-east. A succession of north dipping fault-like features is also suggested, separating isolated chargeability features.
Southern Area: The two southern lines also show an extensive chargeability high in the southern portion of the lines, and the north dipping fault-like features. The northern portion of the lines only shows a very limited chargeability response. The resistivity observed on these lines is slightly higher than in the northern group and also shows the north dipping features.
Based on a review of the past geochemical and geophysical surveys, the present Titan 24 north anomaly covers some of the 1997 Copper geochemical anomalies and the 1997 IP anomalies.
The northern Titan 24 anomaly and associated geochemical anomalies are approximately 2000-2500 meters southeast of the Oriole deposit of Copper Mountain Mining Corp, where a small historical and non compliant resource has been further explored, with intercepts up to 131 feet grading 1.44% Cu Eq.Drill (hole OL-07) and 119 feet of 2.31% Cu Eq innearby OL-17.
There is little historical information for the southern Titan 24 anomaly near Belgie Creek which covers 1000 meters on one line (683100 E) and almost 2000 meters on the adjacent line (682100 E).
Based on the 2 dimensional data inversion results, a total of 27 potential targets were picked by Quantec. Of these, 4 targets were surface anomalies that potentially could be explored by trenching.
The 23 sub-surface potential drill targets are prioritized as High, Medium, and Low, based on their chargeability values, resistivity regime, size and depth below the surface. In total twelve (12) targets are classified as high priority, to be followed-up by a diamond drilling campaign or trenching (where anomalies reach the surface). Nine (9) anomalies are of medium priority and seven (7) are low priority targets.
Based on the success in the surveys, Supreme has acquired additional ground in the area by staking.
Supreme has obtained the necessary permits to commence a seven-hole Phase 1 diamond drill program on the two high priority target areas. The IP data is suggestive of porphyry style mineralization, which potentially could be related or similar to the various mineralized zones on the nearby Copper Mountain claims. Such potential cannot be quantified and only be verified by the planned drill program.
Supreme Resources Ltd. is a public, junior gold and base metal exploration company with two properties in southwest British Columbia: the TAS Project, in the Copper Mountain area, Princeton BC., and the Ample-Goldmax (Gold) Property located in the Lillooet area.
The 100%-owned Ample-Goldmax Property is host to several known mineralized zones with gold grades ranging from trace to more than 2.0 ounces per tonne (66.34g/t) Au in quartz veins. Prior drilling results on the property by Homestake Mining included an 8.2 meter intersection grading 11.76g/t Au. Supreme's 2008 drill intercepts included 11.39g/t Au across 0.13m and 5.91g/t Au across 8.53m. Visible gold was observed in several drill holes (see news release dated September 15, 2008, September 25th 2008 and February 9 2009) further exploration is planned at Ample-Goldmax for 2010.
This press release has been reviewed by independent consultant and Qualified Person Barry Price, M.Sc. P.Geo. BJ Price Geological Consultants Inc.
Further news will be forthcoming in the near future.
ON BEHALF OF THE BOARD
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the release.
SOURCE SUPREME RESOURCES LTD
For further information: For further information: Allan Levien, (604) 941-3716, email@example.com