Supreme Metals Corp.
Friday, July 14, 2017 - 12:01 AM EDT

Supreme Metals Corp. Locates the Shaft of the Historic 14.7% Cobalt Bulk Sampling on the Helfrick Cobalt Patent Claims



Sudbury, Ontario (FSCwire) - Supreme Metals Corp. (the “Company”) (CSE: ABJ)(FSE:A68) is pleased to announce the commencement of its 2017 field exploration program and the following update on activities.

 

On the Helfrick Cobalt Patent Property a site examination was conducted.  This work located the East Shaft which was approximately 15 feet by 10 feet on patent SSM2163 where several historic bulk samples were collected including a 3.7 ton bulk sample collected in 1912 assaying 14.7% Co, 9.2% Ni, and 9 oz/t Ag (as reported in the Ontario Ministry of Mines and Forests MDI file MDI41J11SW00055).  Several other veins and old workings were also located while in the field on the Helfrick Property.

 

The East Shaft site occurs at the intersection of two quartz–carbonate veins and matches the location as described in the private Helfrick files reviewed by the Company and replotted on a current georeferenced digital map fabric.  Material collected from the waste pile showed mineralization associated with quartz carbonate veining containing bismuthite, some unknown gray metallic mineral (possibly skutterudite) with pink erythrite staining, chalcopyrite and bornite.   A confirmation of some key claim posts on the site was also undertaken.  Samples collected from the waste pile at the East Shaft is currently being examined and will soon be sent out for assaying.

 

The pervasive extent of multiple quartz carbonate veining observed in the area is impressive, although their full extent was undetermined due to the limited outcrop exposure and overburden, estimated to be in the range of 0.5-1 metre thick. Measurements of the magnetic susceptibility of both the quartz carbonate veins and the gabbroic and granophyric variations of the host Nipissing sill will be undertaken in anticipation of a high-resolution drone total field magnetometer survey now being planned to facilitate the recognition of the quartz carbonate veins of lower magnetic susceptibility within the higher magnetic susceptibility of the Nipissiing gabbro host rocks.

 

To view the graphic in its original size, please click here

Water-filled East Shaft (approximately 15 x10 feet) from which the 1912 historic bulk sample of 3.7 tons was collected

 

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Sample collected from the East Shaft waste rock pile showing minor erythrite staining.

 

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Magnified view of bismuthite from a sample collected from the East shaft waste rock.

 

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Weathered rock collected from the East Shaft waste rock showing cockscomb quartz, rusty reddish brown iron carbonate and pink erythrite cobalt bloom

 

EUROPEAN LITHIUM STRATEGY

 

A field examination of a Spanish Lithium pegmatite property was also undertaken as well as undertaking a photographic record of the core.  Samples from the core have been assayed and these are being reviewed now by the Company.

 

Bob Komarechka noted “ The Company continues to actively investigate several localities with great potential for both lithium and cobalt.  Locating the East Shaft on the Helfrick Cobalt Property, site of a significant historic bulk sample, and observing numerous rusty quartz carbonate veins noted on the property, is very exciting and will facilitate further georeferenced work on the site to better understand the cobalt mineralization and its extent. This is especially relevant in light of the rapid recent rise in cobalt prices in excess of US$27.00/lb.”

 

Qualified Person

 

 

Mr. Robert Komarechka, P.Geo, a Qualified Person under NI 43-101 regulations, has reviewed the technical data for accuracy.

 

About Supreme Metals Corp.

 

Supreme Metals Corp.   (CSE: ABJ)(FSE:A68)   is a Canadian based exploration company with a focused approach in the area of green and energy metals in the Western World adjacent to anticipated downstream manufacturing projects that will have a significant need for these metals.

 

 

On Behalf of the Board,

Bob Komarechka

CEO

 

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results.  Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements.  There is no assurance the private placement, property option, change of board or reinstatement of trading referred to above will close on the terms as stated, or at all.  The Company disclaims any intention or obligation to revise or update such statements.

 



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/suprememetals07142017.pdf

Source: Supreme Metals Corp. (CSE:ABJ)

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