TORONTO, ONTARIO--(Marketwire - Dec. 3, 2012) - Superior Copper Corporation (TSX VENTURE:SPC) has entered into an agreement to acquire a 50% interest in the Jogran Porphyry located in Ryan Townships near Batchawana Bay, approximately 80 kilometres north of Sault Ste. Marie, Ontario, subject to regulatory approval. Superior Copper will acquire Jim Ralph's 50% interest in the project by issuing 670,000 shares to the vendor, Jim Ralph.
The Jogran Porphyry Property covers 1 unpatented mineral claim with an area of 128 hectares. The property is located in the Batchawana Greenstone Belt of the Archean Superior Province near the margin of the Proterozoic Southern Province. The Jogran Porphyry is a quartz-feldspar porphyry of mid-Proterozoic (Keweenawan) age located adjacent to the Batchawana Copper Project which contains the past-producing Coppercorp Mine.
The porphyry intrusive is thought to have an elliptical shape, with a surface expression 130 metres wide and 275 metres long and was drilled to a 200 metre depth. The porphyry and surrounding Archean mafic metavolcanics contain disseminated and fracture-controlled chalcopyrite and molybdenite mineralization. Historical drilling by Jogran Mines Ltd. in the mid-1960's indicated continuous mineralized intersections averaging 0.19% Cu and 0.05% MoS2 over core lengths ranging from 40 to 160 metres (Source: Sault Ste. Marie Assessment Files).
The technical information contained in this news release has been reviewed by Delio Tortosa, P. Eng. who is a "Qualified Person" under National Instrument 43-101 and a consultant to Superior Copper. The historical results presented here have not been verified, and are given for information purposes only.
Superior Copper Corporation
Superior Copper Corporation is a Canadian-based exploration company focused on base and precious metal exploration. The Company's primary objective is to target highly prospective and underexplored mineral properties, particularly copper, in order to meet the increasing global demand. The Company has two key exploration projects; the Batchawana Copper Project and the Rivière Doré Project in Quebec.
CAUTIONARY STATEMENT: This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws. Please see our public filings at www.sedar.com for further information.
Shares Outstanding: 65,684,269
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