Sudbury, Ontario – December 5, 2018 – Supreme Metals Corp. (the “Company” or “Supreme”) (CSE: ABJ) (FSE: A68) today announces that a drill contractor has been retained and the location of drill pads are now being planned for the forthcoming drill program on their Alberta II Property. The company has also filed the earlier June 1, 2012 Alberta II Technical Report which can now be viewed on SEDAR.
About the Alberta II Property
The Alberta II Property is a lithium (with associated tin and tantalum) advanced stage exploration project located in Northwest Iberia, in the Spanish Province of Galicia and has an exploration area of 10 square kilometers (15 Mining Squares of the Spanish Mining Grid). Extensive regional exploration work has included detailed mapping, soil geochemistry using multiple techniques, remote sensing using high-resolution satellite imagery and low altitude flights using UAVs – Unmanned Aerial Vehicles, equipped with high-resolution multispectral cameras, and one 3,075 metres diamond drill program consisting of 10 diamond drill holes. Work to date has defined a lithium bearing pegmatite swarm can be followed along strike for more than 1,300 metres within a corridor of 800m wide.
The Alberta II property is stated, as of June 1, 2012, to have inferred NI 43-101 resources of 12,342,000 tonnes of 2,038 ppm lithium along with 440 ppm of tin and 99 ppm of tantalum. This resource would result in a grade equivalent of 2,245 ppm Li or 0.48% Li2O. This grade equivalent represents a resource of 25,154 tonnes of lithium, 1,221 tonnes of tantalum and 5,429 tonnes of tin.
NI 43-101 Resource
The NI 43-101 resource was determined as a result of surface mapping, 90 channel samples (80 within pegmatite), 10 diamond drill holes of 3,074.5 metres and sample analysis of both core and channel samples utilizing appropriate standards, blanks and duplicates. Data was collected and analyzed within Microsoft Excel and Access applications then exported into Vulcan Software Version 8.1 to construct geological solids, prepare assay data for geostatistical analysis, construct the block models, estimate metal grades and tabulate mineral resources. A density of 2.65 tonnes per cubic metre was used for the tonnage calculation.
The reader is advised that Inferred mineral resources are not mineral reserves and represents material that is considered too speculative to be included in economic evaluations at this point. Additional drilling will be required to convert inferred mineral resources to measured or Indicated mineral resources.
The property is currently under an active exploration permit granted to Strategic Minerals Spain, S.L. with granted mineral rights for lithium, tin, tantalum and niobium under a contract with the Spanish Government with the name Alberta II, number OU/C/05186 valid until December 29, 2020, with exclusive rights to apply for a mining concession. Access to the site to conduct exploration was granted by formal agreements with landowners and other stakeholders. All permits required for the work done and proposed have been obtained or are being applied for. At this time there are no known, legal, political, environmental or other risks that could materially affect the potential development of the mineral resources.
Bob Komarechka, P.Geo., CEO of the Company, commented:
Since the acquisition of Iberian Lithium Corp. and its option on the Alberta II Lithium Property in Galicia Spain on October 23, 2018, a walking magnetometer survey has been completed and additional drill sites have been located on the Alberta II Property. Currently a drill contractor has been procured and preparation of the drill pads are being laid out. We anticipate drilling to begin shortly after the construction of the pads. This work is being supervised by Salamanca Ingenerios of Spain. We shall look forward to the upcoming drill program results and its effect on expanding the resources on the property.
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,
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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.