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Superior Resources Ltd.
Summary
| Project: | Greenvale | |
|---|---|---|
| Deposit: | Galah Dam, One Mile Dam | |
| Location: | Australia | |
| Commodities: | Gold-Copper | |
| Date: | 10/10/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-10-2017: Superior Resources Ltd. announces an Exploration/Drilling Update report for its Galah Dam, One Mile Dam deposit at the Greenvale project. No significant assay results, pyritic zone results incl. up to 0.2g/t Au, 200ppm Cu. Superior Resources L | |
| 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 report on the final results of the initial reverse-circulation (RC) drilling program conducted at the Company’s 100%- owned Galah Dam and One Mile Dam prospects. The results follow an extensive analysis of alteration and metamorphism related mineral and element assemblages observed at the two prospects. Galah Dam initial drill hole Superior’s initial drilling, comprising a single deep (192m) vertical RC hole (SGDP001) targeting one of a series of high order induced polarisation (IP) chargeability anomalies, has confirmed that Galah Dam is potentially a large-scale porphyry or massive sulphide copper-zinc-gold-silver mineralised system. The drill hole encountered intensely altered and metamorphosed advanced argillic alteration mineral assemblages over the entire length of the hole from surface to 192m end-of-hole depth. This result indicates that the very large folded alteration zone, which is visible at the surface (Figure 1), has dimensions of 4 kilometres of strike length, widths of between 100 metres to 500 metres and a depth extent in excess of 200 metres. The drill hole assay results have reported high sulphur values (wide zones of 2% to 5% pyrite (up to 20% semi-massive pyrite bands), but low gold and base metal values (Table 1; Figures 5 and 6). The copper, zinc and gold values are only elevated when associated with the high sulphide zones. | |
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