Superior Mining International Corporation: Acquisition of New Alluvial Property-Ross South
April 7, 2010
VANCOUVER, BRITISH COLUMBIA -- April 7, 2010 - Superior Mining International Corporation, (the "Company") (TSX VENTURE:SUI) is pleased to announce that it has been issued an Exploration Permit (EP 51688) on ground immediately south of the former Ross property from which the Company has recently withdrawn (see the SUI news release dated March 30, 2010).
The new property (referred to as "Ross South"), located 2.0 km to the south of the Victory property (Figure 1), consists of Pliocene-aged alluvial gold leaders peripheral to current or historical mining operations.
Previous reverse circulation (RC) drilling on the Ross property (see the SUI news release dated October 13, 2009) identified the presence of southerly trending auriferous leaders that were confined in the north, but having greater volume potential to the south. This presence led the Company to apply for the newly acquired Exploration Permit. This thickening of auriferous leaders is suggested by the presence of sunken shafts from the early 1900s, including one in the northeast section of the property (Figure 2) sunken to a depth of 125 metres, historically, the deepest recorded shaft in that region.
Detailed geological mapping by Amax Exploration in the early 1980s indicates that the property is underlain by the Pliocene Old Man Group gravels, thought to represent erosional products of cyclic outwash deposits and moraine fronts of successive glaciers. The Old Man Group comprises three layered units, with the uppermost layer (Humphrey's Conglomerate) considered the most prospective for gold placer concentration. Historical mining of "stacked" gold leaders from this unit and to a much lesser extent from the underlying Jones Formation and Donnelly Conglomerate, to the north of the property, resulted in gold production of 168,000 oz (1890-1920) and 130,000 oz (1985-2002). Gold leaders of the Humphrey's Conglomerate are still visible today in the southwestern pit wall of the neighbouring property. Lateral extensions of Humphrey's Conglomerate are currently being exploited by a local mining company only 1.0 km to the east of the new property.
In Q2/2010, the Company plans to establish trenches and test pits to confirm surface geology, prior to the commencement of RC drilling.
On behalf of the Board of Directors of Superior Mining International Corporation
John Proust, President & CEO
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 has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.