- Superior Resources (SPQ) intersects copper vein mineralisation in the third hole drilled at its Bottletree prospect within the Greenvale Project in Townsville, Queensland
- The third hole was drilled to test a large soil copper anomaly, and visual observations have indicated copper-mineralised vein sets and disseminated copper
- While a secondary target, the company believes this mineralisation could relate to a much larger porphyry copper-gold system
- Further drilling is planned for the end of quarter one 2022 at the copper zone associated with the chargeability anomaly
- Shares have been trading 9.09 per cent higher at 2.4 cents
Superior Resources (SPQ) has intersected copper vein mineralisation in the third hole drilled at its Bottletree prospect within the Greenvale Project in Townsville, Queensland.
As part of the company’s 13,000-metre drilling program, the third drill hole was planned as a scissor hole to the first two holes completed. It was designed to test part of a large soil copper anomaly and mapped zones of silica-magnetite alteration.
While assays are pending for all three holes, visual observations have noted copper-mineralised vein sets and disseminated copper over the majority of the 659-metre hole.
The company said the results so far confirm that areas lying to the west of a large induced polarisation chargeability anomaly, and towards a large interpreted copper-gold porphyry system target are mineralised, with extensive, strong copper sulphide mineralisation.
Superior’s Managing Director, Peter Hwang said these zones are a secondary target with the mineralisation appearing to be outer zones of mineralisation, or ‘leakage’ which the company believes could relate to a much larger porphyry copper-gold system.
“Although the primary target at Bottletree is a large, interpreted copper-gold porphyry system located 500 metres west of the chargeability anomaly, the amount of copper sulphide mineralisation…. is, nevertheless, shaping up to be very significant.”
“We have confirmed that strong copper mineralisation extends a long way further west than indicated by the IP modelling and remains open to the west, at depth and along strike,” he said.
The company said it is confident that several other similar copper-mineralised zones exist within and surrounding the porphyry target area and as such plans to further test the area at the end of quarter one, 2022.
Additionally, a soil sampling survey has been completed at the prospect, with 1440 samples to be submitted to the assay laboratory shortly.
Detailed outcrop and alteration mapping have also been completed, and the company will analyse the information together with observations from the drill core and geophysical modelling of airborne magnetometer and electromagnetic (EM) survey data.
A down hole EM survey is also scheduled once the monsoon season has passed.
Shares were trading 9.09 per cent higher at 2.4 cents at 10:40 am AEDT.