Superior Resources Ltd (SPQ)
Bottletree drill holes highlight further porphyry potential
23 April 2024 8:51 AM. Original PDF: Open PDF | 28 PagesNew drilling results confirm continuity of porphyry Cu-Au-Mo mineralization at Botletree and highlight porphyry potential in the southwest.
Summary
- Drill holes BTDD011 and BTDD012 confirmed mineralization continuity in the Discovery Outcrop zone at Botletree.
- BTDD013 drilling targeted an area southwest of previous drilling, intersecting low grade Cu-Au mineralization, suggesting a buried porphyry intrusion.
- A $300,000 grant from the Queensland Government supports drilling to target the modelled porphyry core.
- The drilling program and results support the potential existence of a significant porphyry Cu-Au-Mo system.
Highlights
- BTDD011: 463m @ 0.15% Cu, 0.02g/t Au, 9ppm Mo.
- BTDD012: 433m @ 0.13% Cu, 0.01g/t Au, 2ppm Mo.
- BTDD013: 332m @ 0.06% Cu, 0.01g/t Au, 31ppm Mo.
- $300,000 grant awarded for further drilling.
Positives
- Confirmed mineralization continuity.
- Identified potential for significant porphyry Cu-Au-Mo system.
- Financial support from Queensland Government for further exploration.
Negatives
- Lower grades of mineralization in the broad widths.
- Further drilling required to fully understand the mineralization system.
Key Dates
- 23 April 2024: Announcement date.
- 8 April 2024: Date of Queensland Government grant announcement.
Alerts
- Contains better than expected results: no
- Contains worse than expected results: no
- Contains expected results: yes
- Sentiment: positive