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Supreme Metals Corp. announces geophysical modeling for Bloom Lake property

Supreme Metals Corp., a company with its operational offices in Sudbury,  has announced the preliminary results of geophysical modeling on its Bloom Lake East Property in Labrador.

The Company’s consultant geophysicist, Dr. Alan King, P.Geo., of Geoscience North generated unconstrained 3D geophysical inversion models from the new drone magnetic data collected over the Main and North Zone using Geosoft Voxi magnetic inversion software, said a company news release on March 12, 2019.

Being aware of this the reader should bear in mind that the following range of quantities and grades is an exploration target and that the potential quantity and grade is conceptual in nature, and there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in these geophysical targets being delineated as a resource, said the release.

So, using a minimum magnetic susceptibility of .01 SI or greater, to a depth of 300 metres, a magnetic volume of 3.7 billion cubic metres was determined for the Main Zone magnetic anomaly. For the more magnetic North Zone a minimum magnetic susceptibility of 0.25 SI was used to determine a volume of 110 million cubic metres of magnetic material. To be conservative on the volume calculations, a cutoff depth of 300 metres was used despite the inversion model suggesting a total depth extent of the magnetic anomalies of at least 1,000 metres. Modeling was confined only to the area flown in the recent drone survey and did not evaluate the additional staked area.

Photos accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/5b82fe6b-d8e4-4e4a-8f48-e6e3fc6e5d6c

http://www.globenewswire.com/NewsRoom/AttachmentNg/9716e6c5-f337-4420-a2b3-b587d21b489c

http://www.globenewswire.com/NewsRoom/AttachmentNg/ea654ab5-c07f-429f-974e-d04cf8b8abc3

http://www.globenewswire.com/NewsRoom/AttachmentNg/606d96a1-781f-410e-aa22-8b2621ee9de1

“The Company is intrigued by the recent targeting of a large strong magnetic anomaly exhibiting characteristic signatures of an iron formation located in the area of historic grab samples from the Nip West showing yielding assays from 3.63% to 59.9% soluble iron.1 Note that grab samples are selected samples and the value of 59.9% soluble iron is unusually high and should not be considered as representative of the average iron mineralization on the property. Having this anomaly fortuitously located less than 3 kilometres from Champion Iron Mine’s active mill site and being near the operating Bloom Lake open pit mine that indicates geologic continuity, is very exciting.

Supreme is very fortunate to have secured the geophysical modeling services of geophysicist Alan King of Geoscience North Ltd. Alan King was the Manager of Geophysics with responsibility for global exploration for INCO and subsequently Chief Geophysicist for Vale Global Exploration which included geophysical applications for iron exploration, said the news release..

The Bloom Lake East Property is located near the Labrador, Newfoundland Quebec border between the Bloom Lake iron mine of Champion Iron Mines in Quebec and the Wabush iron Mines of Iron Ore Company of Canada (managed by Rio Tinto) in Labrador.

The property, previously held by Rio Tinto, was initially acquired by Supreme for its cobalt potential with the presence of numerous iron occurrences in the area being recognized. New high resolution drone magnetic surveys and geophysical modeling on the new data has been completed. On review of the drone magnetic data and geophysical modelling additional claim acquisitions in the area were undertaken. Currently Supreme holds 14 claims in the area totaling 126 cells consisting of 3,150 ha.

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