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Superior Resources Ltd.
Summary
| Project: | Greenvale | |
|---|---|---|
| Deposit: | Steam Engine, Eastern Lode | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-8-2017: Superior Resources Ltd. announces an Exploration/Drilling Update report for its Steam Engine, Eastern Lode deposit at the Greenvale project. Drilling reseults incl. 3m @ 3.81g/t Au from 50m. Superior Resources Limited (ASX Code: SPQ) (Superior | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Ken Harvey (Internal) | |
| ABSTRACT: | Superior Resources Limited (ASX Code: SPQ) (Superior or Company) is pleased to confirm that the drilling of six holes totalling 510 metres at its Steam Engine Gold Project, intersected high-grade gold mineralisation in each of the holes. The drilling was completed recently as part of a 1,422 metre initial drilling program at four new prospects within the Company’s 100% owned Greenvale Project (Figure 1). The successful program at the Steam Engine Prospect extends the mineralised envelope along strike and at depth at the Steam Engine Lode and extends the depth extent of a portion of the Eastern Ridge Lode (Figures 2, 3 and 4). The Steam Engine Lode has been extensively defined by previous drilling from surface to 100 metres vertical depth along the known 400 metre strike length of the lode (Figure 3). Only five holes have been drilled to depths greater than 100m vertical depth. Gold mineralisation at the Steam Engine Lode remains open at depth and along strike to the north. Mineral resource modelling of the Steam Engine Lode is currently being conducted using results from the recent drilling program and historical data. A maiden mineral resource estimate will be developed from the modelling work. Strong results from the Eastern Ridge Lode confirm the potential to extend the lode at depth and also the possibility of delineating multiple parallel mineralised lodes. Multiple zones of mineralisation were intersected in two of the four holes drilled at the Eastern Ridge Lode. ”We are very pleased with the results of our recent drilling program at the Steam Engine Prospect. In particular, the results provide us with a level of confidence that gold mineralisation at each of the lodes is consistently of high grade and that there is excellent potential for the lodes to continue at depth and in respect of the Steam Engine Lode, along strike to the north. | |
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