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Superior Resources Ltd.
Summary
| Project: | Greenvale | |
|---|---|---|
| Deposit: | Steam Engine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/4/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-5-2020: Superior Resources Ltd. announces a Resource Estimation report for its Steam Engine deposit at the Greenvale project. Updated Mineral Resource Estimate for Project. Queensland-based gold and base metals explorer Superior Resources Limited (ASX:S | |
| Resources: | (Resources, I+I): 1.27Mt @ 2.3g/t Au (94koz Au) | |
| CP/QP: | [Resource] Kevin Richter (Internal) | |
| ABSTRACT: | Queensland-based gold and base metals explorer Superior Resources Limited (ASX:SPQ) announced today a JORC 2012 mineral resource upgrade for its Steam Engine Gold Deposit, part of the Company’s 100%-owned Greenvale Project. The mineral resource estimate has been expanded and upgraded to indicated and inferred, resulting in an approximate 11% increase in the in-situ gold mineral resource. The total in-situ resources now stands at: The spot gold price has climbed around 10 per cent this year, reaching a high of US$1,734 per ounce (A$2,700), a record in Australian dollar terms, amid safe haven buying due to the effects of the COVID-19 pandemic. Analysts have predicted higher prices ahead, with ANZ Research forecasting US$1,900/oz by June 2020 and Bank of America raising its 18-month price target to a record US$3,000/oz. In light of the current positive gold price predictions, a study of the Steam Engine Gold Deposit was commenced with consideration given to the potential for an accelerated early mining and toll treatment operation. The study focused only on the Steam Engine and Eastern Ridge lode zones and commenced with re-modelling of the Mineral Resource | |
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