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Superior Lake Resources Ltd.
Summary
| Project: | Superior Lake | |
|---|---|---|
| Deposit: | Superior Lake | |
| Location: | Canada | |
| Commodities: | Zinc-Copper-Silver-Gold | |
| Date: | 12/18/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-12-2018: Superior Lake Resources Ltd. announces an Exploration/Drilling Update report for its Superior Lake deposit at the Superior Lake project. Drilling results incl. 1.56m @ 20.12% Zn, 0.8% Cu from 840m. Superior Lake Resources Limited (ASX: SUP) is | |
| Resources: | (Resource, I+I): 2.145Mt @ 17.7% Zn, 0.9% Cu, 0.4g/t Au, 33.5g/t Ag | |
| CP/QP: | [Overall Report]: Alfred Gilman (Independent) | |
| ABSTRACT: | Superior Lake Resources Limited (ASX: SUP) is pleased to announce an exploration drill program at its Superior Lake Zinc Project (“Project”) in Ontario, Canada has intersected high-grade zinc at the Mid Pick zone and identified a new footwall zone within 9m of the Pick Lake deposit. Results included: - Mid-Pick zone: 1.56m @ 20.12% Zn, 0.8% Cu (Figure 1) - New footwall zone: 0.35m @ 25.2% Zn 0.18% Cu. These results have the potential to further improve project economics for Superior Lake. An October 2018 Restart Study, forecasted the Project will produce approximately 46,000tpa Zn over an initial 6.5-year mine life, with an AISC of US$0.51/lb (see ASX announcement dated 10 October 2018). The Company will complete a Definitive Feasibility Study for the Project by mid-2019. In addition to the first drill program, a litho-geochemistry and structural review of the Project has identified five high priority targets. These targets, in association with the drilling and the new geophysical anomaly defined by DHTEM, will be tested to 1,000m with a surface geophysics program over a 3km x 3km area scheduled for February 2019. | |
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