- Superior Resources (SPQ) intersects disseminated and vein sulphide mineralisation at the Bottletree copper prospect in Queensland
- This observation comes from two diamond holes drilled at the prospect, which are targeting a large chargeability anomaly
- However, Superior says the anomaly is no longer the “main event” but rather just an outer zone of mineralisation related to a much larger potential porphyry copper-gold system
- Drilling and other exploration work is ongoing at the broader Greenvale project, including 2300 metres of drilling and geochemistry and geophysical surveys at Bottletree
- Company shares are up 15.6 per cent to trade at 1.9 cents
Superior Resources (SPQ) has intersected disseminated and vein sulphide mineralisation at the Bottletree copper prospect located approximately 210km west of Townsville, Queensland.
The company is undertaking a 2300-metre diamond drilling program at the Bottletree prospect to target a large chargeability anomaly. This program is part of its broader 13,000-metre campaign across the Greenvale project.
Superior said drilling to date has confirmed extensive disseminated and vein copper mineralisation is likely to stem from a large copper-gold porphyry system which is located nearby and to the west of a chargeability anomaly.
Managing Director Peter Hwang commented on the drilling observations.
“We are very excited with the developments unfolding at Bottletree, which are particularly significant as no more than three meaningful holes have previously been drilled at the prospect,” he said.
“The IP chargeability anomaly is no longer the “main event’, but rather just an outer zone of mineralisation related to a much larger potential porphyry copper-gold system.”
Based on the observations from the first two diamond holes, the company has revised the drilling program and is currently completing a third “scissor” hole, which is drilling from the southwest to the northeast in the opposite direction of the first two holes.
The third hole, which is currently at a 260-metre depth, is testing areas to the west of the anomaly for porphyry-related mineralisation, alteration and porphyry vectors.
“We are expediting new exploration programs at Bottletree that include soil geochemistry surveys, geophysical surveys and drilling,” Mr Hwang said.
“In addition, we are also progressing our other Greenvale copper prospects, including Cockie Creek, where we are targeting a maiden JORC 2012 mineral resource estimate for release by year-end.”
Superior Resources said the results from Bottletree have added a ‘promising outlook’ for next year.
Company shares were up 15.6 per cent to trade at 1.9 cents at 11:50 am AEDT.