Mr. Bob Komarechka reports
SUPREME METALS CORP. ACQUIRES ONTARIO ASSET WITH HISTORIC 3.7 TON BULK SAMPLE AVERAGING 14.7% COBALT, 9.2% NICKEL AND 9OZ PER TON SILVER
Supreme Metals Corp. has entered into an arm’s-length share purchase agreement for the acquisition of 100 per cent of the issued and outstanding shares of Otter Minerals Ltd., a private Ontario company. Otter Minerals holds a one 100 percent interest in the Helfrick Property located in the Algoma Mining Division, Ontario, located approximately 27 kilometres north of the town of Thessalon, Ontario.
The Helfrick Property consists of 8 mining patents units covering approximately 128 hectares.
According to an Ontario Department of Mines Report (Mineral Resources Circular No. 10 pt.2 p20), a 3.7 ton bulk sample from the Kerr Claim assayed 14.7% Co, 9.2% Ni and 9oz/t Ag.
Bob Komarechka P.Geo., CEO of the Company, commented: “The Helfrick Property has produced some very impressive historic cobalt values but was never the subject of any meaningful follow-up. This is especially relevant as companies have recognized that cobalt is now in high demand for electric vehicles and energy storage. As commodity prices rise, the economics of narrow cobalt veins at high grades and potential areas of significant widths at lower grades, combined with nickel, silver and some potential gold values, make this property an exciting area to apply modern exploration techniques.
Given the prospectivity of the bulk sample Supreme has authorized a staking crew to expand its land package to consolidate all other anomalous areas surrounding Helfrick which share geological similarities to the Kerr Claim.”
About the Helfrick Property
Access to the property is obtained by travelling northward on a logging road to west side of Saunders Lake and then boating across the lake taking a short portage to the east side of Burden Lake then arriving at the property at the east end of Burden Lake. Another road to the southeast provides access to the southern claims.
The property is located on a Proterozoic-aged Nipissing diabase sill with some sediments of the Gowganda formation of the Cobalt Group, also of Proterozoic age, nearby. The sill appears differentiated with granophyric and mafic sections. The mineralization is contained within WNW striking quartz calcite veins, one of these has a strike length over 70 metres with a width of up to 4 metres noted. Several old blasted pits with mineralization exist on the property. Minerals noted include cobaltite, gersdorffite, pararamelsbergite, erytherite, native silver, native bismuth, niccolite and annabergite.
The share purchase agreement provides that the company will acquire 100 per cent of the issued and outstanding shares of the private company in consideration for the issuance of 9 million common shares of the company and cash consideration of $40,000.
Mr. Robert Komarechka, P.Geo, a Qualified Person under NI 43-101 regulations has reviewed the technical data for accuracy.
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.