Supreme Metals Corp. Announces Acquisition of the Wendigo Gold Property
November 05 2018 - 8:00AM
Supreme Metals Corp. (the “Company” or
“Supreme”)
(CSE: ABJ) (FSE: A68) today
announced its claim acquisition of the Wendigo Gold Property in
Bayly township, located 39 km southeast of Kirkland Lake. The
property was acquired due to the highly anomalous lake sediment
values for gold and nickel as well as anomalous cobalt reported by
the Geological Survey of Canada1. This regional lake sediment
survey, covered over 20,900 square kilometres and contained
approximately 1,600 lake sediment samples. Cobalt and gold
occurrences occur on the property. This property consists of 55
contiguous one unit claims acquired by Supreme using Ontario’s
MNDMF’s MLAS online claim acquisition service. No additional
fees or royalties to other parties were involved in this
acquisition.
Bob Komarechka, P.Geo., CEO of the Company, commented:
The highly anomalous gold, nickel and anomalous cobalt lake
sediment samples found in Wendigo Lake by the Geological Survey of
Canada is extremely intriguing and warrants further investigation.
The acquisition of this property, up-ice and within the adjacent
drainage basin of the highest lake sediment gold values encountered
within Wendigo lake, is a prime location for a source of this gold.
This being further substantiated by an existing gold occurrence in
the area. The adjacent Archean diorite-gabbro-ultramafic intrusive
may also be a source for the anomalous nickel and cobalt lake
sediment samples. I believe this property, with its limited
previous exploration is a great asset for the company, having
excellent potential at a minimal acquisition cost.
About the Wendigo Gold PropertyThe property is
underlain by a north to south striking Archean greenstone belt
containing felsic-intermediate volcanics and a
diorite-gabbroic-ultramafic intrusion believed to be a sill.
The Wendigo Property has excellent access from the south shore
of Wendigo Lake and by a logging road through the northwest of the
property. Additional recent logging activities have resulted
in numerous roads and trails on the property.
GoldOf all the lake sediment samples analyzed,
3 occurring within Wendigo Lake area were above the 95 percentile
with the highest reading of these 3 being 133ppb Au. This was the
second highest gold reading in the whole survey area, with the
highest lake sediment gold analysis occurring in the Matachewan
gold camp area, outside of the Wendigo Property. An area
up-ice and within the drainage basin of a creek flowing into the
lake at the 133ppb Au sample location was acquired as part of the
Wendigo Property. This drainage system is underlain by
Archean metavolcanics with areas of brecciation having localized
shearing and associated quartz veining. In the next drainage area
to the east, also on the Wendigo Property, exist several old pits
with quartz veining and anomalous gold values occur,
including the Bute Larder Gold occurrence where OGS geologist
Lovel, H obtained samples returning 0.05 to 1.17 oz/ton gold and
0.13% to 1.89% copper2 from an 800 metre long quartz carbonate
quartz vein in dacite breccias and tuffs.
NickelLake sediments from the Wendigo Lake area
also show some of the highest anomalous nickel values in the whole
survey area of the GSC Open File 1640 report. These anomalous
nickel values appear in the vicinity of an Archean diorite-gabbro-
peridotite sill. Two unexamined old pits are shown on ODM Map
P11983 in this rock type off the Wendigo Property.
CobaltAn old shaft with reported cobalt bearing
erythrite occurs on the property but within the bounds of a narrow
waterway park along the west shoreline of the north arm of Wendigo
Lake is also shown on ODM Map P1198. Nearby a massive pyrite zone
occurs within a cherty volcanic unit with associated brecciation.
This shaft is also along the west side of Wendigo Lake’s north arm
and within the waterway park boundary.
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
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.
1 Regional Lake Sediment and Water Geochemical Reconnaissance
Data, Gogama Area, Ontario, GSC Open File 16402 Geology of Bayly
Township, District of Timiskaming, Miscellaneous Paper 88, Ontario
Department of Mines, 1976, by H. Lovell & F. R. Ploeger.3 Bayly
Township District of Temiscaming, Ontario Division of Mines,
Preliminary Map P1198, Geol. Surv. 1976 by H. Lovell & F.
Ploeger.
Contact:705 690 8118info@suprememetalscorp.com
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