Superior Mining Granted Key Prospecting Licence In The Northern Freestate Province Goldfield, Republic Of South Africa.
October 17, 2007
Vancouver, British Columbia: Superior Mining International Corporation (“Superior”), is pleased to announce that it has been granted exploration rights to explore for Witwatersrand Basin-hosted gold mineralisation in the Northern Free-State of South Africa.
The granted lease area is centred around the township of Riebeekstad and is named after one of its component farms “KAREEBOOM”. The exploration licence comprises approximately 180 square kilometres of contiguous, highly prospective ground chosen for its potential to host eastwards extensions of the Western limb of the Witwatersrand Goldfield in the Welkom District. The lease dimensions contain approximately 18 kilometres of strike potential and approximately 10 kilometres of down-dip potential.
It is the Central Rand Group succession sitting beneath variable thicknesses of Karoo sediments and Ventersdorp Group lavas with its traditionally bountiful gold-bearing horizons (namely the “A”; “B”; Leader and Basal Reefs) that is being targeted in this endeavour.
Each one of these individual “reef” horizons is a significant gold-producing horizon in its own right throughout the Welkom region as a whole. Superior’s intention is to explore by diamond drilling to depths of approximately 1,500 m from surface. By using the “wireline” core recovery technique and undertaking multi deflections off the primary holes, the geological, structural and reef continuity characteristics in the area will be appraised in Superior’s search for a new gold deposit in the region.
These anticipated drilling depths are unusually shallow for the Free State and as a consequence the typically prolonged, dangerous and costly drilling activities that one normally associates with exploratory drilling in the Witwatersrand are being avoided. Similarly, the traditional equipment “firepower” (and therefore costs) needed to embark upon and complete the typical Witwatersrand “deep drillhole” to depths in the order of +3,000 m are eliminated.
Planning of the initial programme of three holes is at an advanced stage and drilling is expected to commence before the end of the calendar year.
The information in this release has been compiled under the supervision of Superior Mining
International’s Senior Technical Advisor, Dr. Phil Snowden, BSc (Hons), BSc (Special Hons), PhD,
FAusIMM, CPGeo. Dr. Snowden has over 36 years of international experience in exploration and mining geology including several years with Anglo American’s gold division based in Welkom. He is the cofounder and former managing director of the global consulting firm Snowden Mining Industry Consultants. Dr. Snowden has sufficient experience relevant to the style of mineralization under consideration and qualifies as a Qualified Person as defined in terms of NI 43-101.
On behalf of the Board of Directors of
Superior Mining International Corporation
President & CEO