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Superior Resources Ltd.
Summary
| Project: | Greenvale | |
|---|---|---|
| Deposit: | Bottletree | |
| Location: | Australia | |
| Commodities: | Gold-Copper | |
| Date: | 8/31/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-8-2017: Superior Resources Ltd. announces an Exploration/Drilling Update report for its Bottletree deposit at the Greenvale project. Drilling results incl. 154m @ 0.25% Cu from 24m. Superior Resources Limited (ASX Code: SPQ) (Superior or Company) is pl | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Simon Beams (Terra Search Pty Ltd.) | |
| ABSTRACT: | Superior Resources Limited (ASX Code: SPQ) (Superior or Company) is pleased to advise that it has received most of the results for the initial reverse-circulation (RC) drilling program conducted at the Company’s 100%-owned Bottletree Prospect. The results for certain intervals from one hole (SBTRC004) and check samples for the purpose of confirming some high-grade intersections in a second hole (SBTRC002) are pending. The Company will follow up with a comprehensive update on the prospect once full results have been received. The presence of wide intervals of disseminated copper mineralisation is encouraging for the presence of an intrusion-related bulk tonnage deposit, similar in style to a porphyry system. Several high-grade copper zones that are present in the drill holes may represent a mineralised marginal envelope, peripheral to a porphyry copper-gold system. However, insufficient data exists to draw any conclusions regarding the style of mineralisation. The Company is planning a second phase drilling program together with a detailed geophysical survey for the purpose of delineating the extent and characterisation of the mineralised system. This follow up work is planned for the remainder of 2017. ”The extensive copper anomalism at the Bottletree Prospect has been a standout feature in the area and we are excited to have been able to confirm substantial thicknesses of disseminated copper mineralisation associated with that anomalism. Considering the alteration and mineralisation that is present down-hole together with the large overall size of the prospect, there is excellent potential for the discovery of a large intrusion-related bulk tonnage copper-gold system, potentially of porphyry style. We have been very pleased with the outcomes of the initial drilling program, which included the drilling at the Steam Engine Gold Deposit, only 5 kilometres north of this prospect. The Company is looking forward to following up with further drilling and geophysics aimed for the second half of the year”. | |
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