SUPREME RESOURCES LTD. (SPR.V- SPRWF-OTC) (the “Company”) is pleased to announce the upcoming 2011 exploration work program on its TAS copper-silver-gold project that adjoins Copper Mountain Mining Corporation’s Copper Mountain mine along its southeastern boundary. The Copper Mountain mine is located 160 kms east of Vancouver and 17 kms southeast of the town of Princeton in southern British Columbia.
Supreme Resources Ltd. holds the largest land position of all companies located in the Copper Mountain area with over 30,000 acres of holdings adjacent to the Copper Mountain mine, including the TAS property.
Supreme’s 2010 exploration program consisted of 16.7 kilometers of flagged lines, 7.2 kilometers of cut lines, analyzing 466 soil and 152 rock samples, constructing 680 metres of road and excavating 7 trenches with a length of 330 metres. The soil geochemical survey outlined three copper soil geochemical anomalies at the south end of the TAS claim, while the rock sampling confirmed surface copper mineralization at the North and South prospects.
Four NQ drill holes totaling 200.26 metres tested the surface malachite and chalcopyrite mineralization associated with propylitic and potassic altered monzonite of the Copper Mountain Intrusions at the Cliff and Road showings at the South prospect. The showings are approximately 100 metres apart and drill hole 21004 at the Cliff showing graded 0.20% copper and 2.7 grams/tonne silver across 19 metres, and drill hole 21007 at the Road showing graded 0.19% copper and 1.5grams/tonne silver across 17 metres. (See News Release “TAS Drilling Intersects Significant Copper Values at Copper Mountain” dated February 9, 2011).
The “high priority” Titan 24 drill targets identified in the 2009 survey were planned to be drill tested in the summer of 2010. Drilling was not carried out due to extensive logging activities in the area. Supreme will be initiating a 1500 metre drill program to test four or five high priority Titan 24 chargeability anomalies as soon as a drilling contractor can be retained for the drilling.
Prior to the optioning of the TAS property by Supreme in 2009, other operators had conducted significant exploration activities on the TAS property including establishing grid lines, soil & rock sampling, ground magnetic and electromagnetic surveys, geological mapping and prospecting. These work programs outlined a number of broad copper and zinc soil geochemical anomalies, and three copper showings at the North, Central and Southern prospects.
In 2009 Supreme completed 19.5 kilometers of Titan 24 induced polarization geophysical surveying over the property. Twenty-seven low, medium and high priority geophysical anomalies were outlined by the survey, seventeen of which are on the TAS claim, and ten of which are on the TAS South Block.
The Company’s TAS projects are located with close proximity to the Copper Mountain mine and the Oriole and Rifle areas south of the open pits of Copper Mountain.
The current 2010 measured and indicated resources at the Copper Mountain mine are 518.6 million tons of 0.31 per cent Cu containing 3.2 billion pounds of copper with gold-silver credits.
The Copper Mountain mine is 75 per cent owned by Copper Mountain Mining Corporation and 25 per cent owned by Mitsubishi Materials Corporation. The construction of the Copper Mountain mine is on schedule for full production in 2011, producing 100 million pound of copper concentrate annually.
Further news will be forthcoming in the near future.
ON BEHALF OF THE BOARD
(604) 941 3716
About Supreme Resources Ltd:
Supreme Resources Ltd. (SPR – TSX.V) is a junior exploration company with advanced base and precious metals projects located in producing mining districts of British Columbia, Canada. Supreme Resources’ goal is to increase shareholder value by developing exploration projects that have the potential of becoming new discoveries.
Neither the 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.
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