Superior Mining Announces a Joint Venture Earn-In on the Redcastle Project, Western Australia
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/07/12 -- Superior Mining International Corporation (TSX VENTURE: SUI) (the "Company" or "Superior") is pleased to announce that it has signed a Heads of Agreement with Reinhold Resources Limited to earn-in a 51% interest in the Redcastle Project located in the Leonora-Laverton district of Western Australia.
Under the terms of the agreement, SUI must commit to exploration expenditures of AUD$200,000 on the project within 24 months from the date of execution.
The Redcastle project comprises thirteen prospecting licences covering an area of 24 km2 in the prospective Yilgarn Craton region, which is host to many multi-million ounce gold deposits.
Significant alluvial gold has been extracted from the prospecting licences over a 20-year period. No systematic exploration has been undertaken by any previous operators, which presents a unique opportunity to carry out virgin exploration in a strategic location.
Gold mineralisation in the region is mostly associated with weathered sulphide-bearing quartz veins discontinuously developed in distinct shear or fault zones.
Major mines within the area include Minara Resources, Murrin Murrin nickel and cobalt mine and Barrick's Granny Smith gold mine.
On behalf of the Board of Directors of Superior Mining International Corporation
Brent Butler, President & Chief Executive Officer
THIS NEWS RELEASE HAS BEEN PREPARED BY THE MANAGEMENT OF THE COMPANY, WHICH TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this news release.
Contacts:
Superior Mining International Corporation
Brent Butler
President & Chief Executive Officer
(604) 601-2005
(604) 488-0319 (FAX)
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Datum: 07.05.2012 - 11:30 Uhr
Sprache: Deutsch
News-ID 143151
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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