Supreme Metals Corp. Finds New Pegmatite and Completes the Northern Drill Program on its Alberta II Lithium Property in Galicia Spain
545 Granite Street Sudbury, Ontario P3C 2P4 Tel: 705 690-8118
Supreme Metals Corp. Finds New Pegmatite and Completes the Northern Drill Program on its Alberta II Lithium Property in Galicia Spain
Sudbury, Ontario – February 25, 2019 - Supreme Metals Corp. (the “Company” or “Supreme”) (CSE: ABJ) (FSE: A68) today announced the completion of its diamond drill program on the northern extent of its Alberta II Property in Galicia Spain which began on January 15, 2019.
One of several pegmatite core intersections in this program
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 metre 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.
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 resource
About the Drill Program
A 311 metre drill program consisting of 2 HQ holes was completed on January 30, 2019. The core from these holes has been logged, sampled, sawn and sent out for assaying on February 4, 2019. A total of 64 samples, 32 from each hole, were sent for analysis. In addition, another 81 samples from an earlier drill program were sent out for further resampling.
This drill program was focused on evaluating the northern extent of one of the pegmatite bodies on the property with the intent of increasing the existing inferred resources on the Alberta II Property. During this drill program the anticipated downward extension of a nearby outcrop of pegmatite was encountered in two drill holes. Surprisingly, toward the proposed end of each hole, a second new pegmatite body was intersected and the holes were extended to the end of this second pegmatite. A minor third pegmatite intersection also occurred in one of the holes. No surface expression of the second or third pegmatite was exposed on surface and their discovery was a pleasant surprise. The table below gives further information on the drill program. Total length of pegmatite bodies encountered in the two holes was 32.6 metres.
It is important to recognize that this total length is the combined width of 5 intersections of 2 holes and does not represent the true width of the pegmatite.
| DDH | Easting | Northing | Elevation | Azimuth | Dip | Total Length | Host Rock | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DDH | Northing | Elevation | Azimuth | Dip | Host Rock | |||||||||
| ETRS89 H29 | ETRS89 H29 | Metres | ETRS89 29N _ | Metres | Drilled | |||||||||
| ABII 18 01 _ _ | 556775.37 | 4697254.86 | 708.98 | 70 | -55 | 142.2 | Schist | |||||||
| ABII 18 02 _ _ | 556771.21 | 4697252.46 | 709.01 | 117 | -55 | 169.6 | Schist |
| DDH | Start | End | Start | End | Start | End | Date | Date | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PEG1 | PEG1 | PEG2 m | PEG2 | PEG3 m | PEG3 m | STARTED | FINISHED | |||||||
| m | m | PEG2 m | m | PEG3 m | PEG3 m | |||||||||
| ABII 18 01 _ _ | 59.3 | 64.3 | 121.21 | 134 | 139.65 | 140.13 | 2019-01-15 | 2019-01-22 | ||||||
| ABII 18 02 _ _ | 81.95 | 86.85 | 134.94 | 144.37 | - | - | 2019-01-25 | 2019-01-30 |
The drill program is being supervised by Salamanca Ingenerios with the drilling being conducted by Sondeos y Perforaciones Industriales del Bierzo SA.
Qualified Person
Mr. Robert Komarechka, P.Geo. a Qualified Person under NI43-101 regulations, has reviewed and signed off as QP for this release.
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
[email protected] Tel: 705 690-8118
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.