Superior Resources has potentially unearthed a significant copper system at its Bottletree copper prospect, part of its larger Greenvale project near Townsville in Queensland after assays returned a 632m copper hit within a remote section of an interpreted porphyry structure.
The company says new modelling has also highlighted a one-kilometre-wide chargeability zone to the west, it believes is the system’s core and Superior now has its foot on six targets at the operation.
According to the junior explorer, the overall copper intersection from the 632m strike includes 0.21 per cent copper, 0.03 grams per tonne gold, 0.60 parts per million silver and 18ppm molybdenum from 5m below surface.
The result forms part of a three-hole diamond probe at Bottletree completed last year with the 600m-plus copper hit coming at the final hole.
The hole was aimed at testing the grounds potential porphyry copper-gold mineralisation on the western side of a large and intense induced polarisation, or “IP” chargeability anomaly — a progressive geophysical technique offering superior depth penetration over standard exploration methods.
The third and final drill hole that delivered the long intersection was sunk to a depth of 658.9m.
Subsequent assay results indicated that a large zone of copper mineralisation was intersected throughout the holes’ extent.
Variably mineralised quartz-chalcopyrite vein complexes and disseminated chalcopyrite were found in the hole’s core and included a heavily mineralised 224m interval to the west of the IP anomaly.
The assays also revealed a 224m copper zone going 0.40 per cent copper, 0.05g/t gold, 0.9ppm silver and 3.5ppm molybdenum within the overall 632m mineralised intersection.
The encouraging assay results are thought to have been acquired from a region some distance away from the core of an intrusive porphyry system – indicating high grades could be on offer as Superior vectors in on the structure’s axis.
The company says its latest results mark its best at the Bottletree copper prospect so far.
Management says given that the mineralisation is assumed to be some distance from the interpreted porphyry core, where larger grades are predicted, the results are exceptional.
Superior now believes it has a significant copper-gold system at Bottletree with the discovery of such a large copper hit on the edges of the interpreted system.
The company says the remarkably wide widths in the final hole stand among the best recent porphyry copper discoveries in South America, British Columbia and Australia.
Perhaps most importantly, Superior says its new modelling has identified a one-kilometre-wide chargeability zone to the west of the 600m plus copper hit where it believes the interpreted porphyry core is.
The news was not lost on the market with Superior’s share price up 60 per cent at one point during the session on heavy turnover from the previous close.
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By Matt Birney
