Published on: 12/20/2013 3:13:09 PM Print | Font Sizes:  Normal Text Large Text

Superior Copper to buy out JV partner

By: Northern Ontario Business staff

Superior CopperCorp. has announced it will buy the remaining 50 per cent interest in the Coppercorp project from its joint venture partner, First Mineral Exploration Ltd.

The Coppercorp project is located 90 km north of Sault Ste. Marie in the Batchawana Bay area and includes past-producing historic copper-mining camps that date back to the 1800s.

Under the agreement, Superior Copper would retain a 100 per cent interest in 101 unpatented mining claims covering 120 square kilometres.

"It has always been our view that the Coppercorp Project is one of the best discovery-focused exploration projects in Canada and, despite difficult equity markets for junior exploration companies, the reorganization of ownership will allow the company to maximize the value of these properties," said Brian Howlett, president and CFO of Superior Copper, in a news release. 

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