Superior extends gold mineralisation in North Queensland

A second batch of assay results from a further eight reverse circulation holes through Superior Resources’ Steam Engine prospect has got pulses racing at the company, with impressive gold grades from these holes including 7 metres at 3.7 grams per tonne gold, with 4m of this containing a 5.0 g/t from one drill hole.

The results are from the company’s 13,000m drilling campaign at its Greenvale project, approximately 210 kilometres west of Townsville in north Queensland.

Superior recently commenced an 8,000m drilling campaign at the 100 per cent owned Greenvale project and already the company has upped the ante with another 5000m of drilling planned. To date 77 reverse circulation holes have been drilled with 45 of these at Steam Engine. Drilling of the Eastern Ridge and Dinner Creek prospects is also ongoing with 32 holes completed.

The latest assay results are from eight reverse-circulation holes totalling 1,069m into the Steam Engine lode, drilled with the objective of extending the mineralisation down dip. The company has previously identified several parallel gold lodes as part of the Steam Engine mineralised system and is now fixed on uncovering the full gold potential at Greenvale.

Impressive gold grades from these holes include 7 metres at 3.7 g/t gold, with 4m of this containing a handsome 5.0 g/t from drill hole SRC126 and 8 metres at 2.4 g/t gold including 5m at 3.4 g/t from drill hole SRC125.

The current program at Steam Engine comprises 38 reverse circulation drill holes for a total of 3,297m designed for extension and infill drilling of the very high-grade ore shoot. It also includes down-dip resource expansion drilling of the Steam Engine lode and infill drilling as it works its way towards establishing a maiden ore reserve and commencing a feasibility study over the project.

The results confirm a substantial extension of strong mineralisation down-dip from drilling completed during 2020. This follows on from positive

results from the first very hole of the drilling campaign at Steam Engine, which included a 10m gold intercept with 2.8 g/t gold.

Superior hopes to extend the existing resource which clocks in at a solid 1.73 million tonnes going 2.2 g/t gold from two lodes - the Steam Engine lode and the Eastern Ridge lode some 500m further south-west.

Another 1.2km south-west of Eastern Ridge, maiden drilling is targeting gold mineralisation at the Dinner Creek lode. Results at Dinner Creek from the 13-hole maiden campaign returned anomalous gold mineralisation including a solid 2m at 2.1 g/t gold from just 33m.

Notably, the company believes the mineralisation intercepted at Dinner Creek has confirmed the presence of a large mineralised system that is likely to be related to the Steam Engine and Eastern Ridge loads.

Superior Resources Managing Director, Peter Hwang said: “The results have further confirmed our expectations for the continued down-dip extension of the Steam Engine Lode. Significantly, mineralisation thicknesses have increased in several parts of the lode, indicating greater potential for the existence of large, gold-mineralised zones at depth.”

“With the expansion of the 2021 Greenvale drilling program to 13,000 metres, 10,000 metres of which will be drilled at Steam Engine, we are anticipating a significant upgrade to the overall Mineral Resource Estimate.” 

Superior has decided to move the rig to commence diamond drilling at the Bottletree Copper Prospect whilst they wait for a high number of outstanding assays from the lab. The company says, based on the results of its 2018 drilling program it has high expectations for intersecting substantial copper mineralisation.

Superior is looking to grow the resources at Steam Engine to underpin a stand-alone processing plant in its ongoing feasibility study works. With these highly encouraging early results and the current drilling blitz set to continue, the company’s immediate goal of growing the 122,000-ounce gold deposit at the Steam Engine prospect seems well within reach.

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