Superior eyes potential copper porphyry in QLD

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Matt BirneySponsored
Quartz vein with molybdenite and chalcopyrite in diamond drill core from Superior’s Bottletree prospect.
Camera IconQuartz vein with molybdenite and chalcopyrite in diamond drill core from Superior’s Bottletree prospect. Credit: File

Superior Resources has intersected sulphide mineralisation in its first two drill holes targeting a large, induced polarisation anomaly at the company’s Bottletree Copper prospect within its Greenvale project in Queensland. The company believes it may be onto a potential porphyry system west of the induced polarisation anomaly, indicated by an enormous 1.5 kilometre by 1km intense copper and gold soil anomaly coincident with a large magnetic feature.

A third diamond hole is now underway and is currently at a depth of 260m downhole. It is drilling eastwards from the western side of the induced polarisation anomaly.

The third drillhole is testing for porphyry related mineralisation to the west of the anomaly rather than testing the induced polarisation anomaly directly, which was the case with the first two diamond holes.

A high-grade copper mineralised vein system trending sub parallel to the first two drill holes is also being targeted by the third diamond drillhole. The third drillhole is a “scissor” hole which means it is drilled perpendicular to the orientation and dip of the first two diamond holes.

Superior postulates that the induced polarity anomaly is likely to represent a localised structurally controlled outer “shell” that surrounds a large copper, gold mineralised porphyry system.

If a porphyry system does exist at Bottletree the company believes it will be located at deeper levels to the west of the induced polarity anomaly.

Core recovered from the third drill hole exhibits significantly more alteration and mineralisation in the upper portion of the drill hole than what was seen in the first two drill holes.

Assays are pending for the three diamond drill holes.

Drilling conducted at the Bottletree prospect during 2018 intersected the northern edge of the induced polarisation anomaly and returned an uber wide 292m mineralised envelope grading 0.22 per cent copper including 18.7m going 1.12 per cent copper.

In addition to drilling at Bottletree, Superior recently received spectacular results from its Steam Engine gold project with assays of up to 115.2 grams per tonne gold intersected.

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.

Porphyry copper deposits are typically dominated by large envelopes of low-grade disseminated sulphide mineralisation, but due to their size-potential, they are by far the largest deposits of copper, large enough to have defined the category of Supergiant Deposits

Superior Resources Managing Director, Peter Hwang said:

Promising drill core retrieved from Bottletree to date adds to Superior’s strong project pipeline already ticking along from its Steam Engine gold project that appears to be no slouch itself.

Amid strong demand for key global minerals such as copper, in addition to gold, that is holding steady at elevated prices, Superior sits in an intriguing position ahead of receiving its drill assays.

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