Superior Resources Kicks Off Drill Program At Steam Engine Gold Project

Superior Resources Ltd (ASX:SPQ) has kicked off a resource expansion and exploration drilling program at its Steam Engine Gold Project (SEGP), situated within the Greenvale Project in northeast Queensland.

During the program, the company’s primary objective is to establish a maiden ore reserve for the project, as well as expansion of the current mineral resource.

Importantly, Steam Engine is a unique gold deposit located between several Tier 1 potential provinces within the company’s 100%-owned Greenvale Project.

Location of the Steam Engine Gold Project

Resource expansion drilling

Superior has planned a total of 45 reverse-circulation (RC) drill holes across 4,500 metres at the Steam Engine and Eastern Ridge lodes.

Notably, the program has been planned with the objective of significantly expanding the SEGP mineral Resource.

What’s more, drilling began today and is estimated to take six weeks to complete.

Exploration drilling

Superior’s exploration program comprises initial soil geochemistry sampling programs and follow-up slimline RC drilling programs.

Two sampling programs are on the cards, a higher density program to assist in determining drill hole locations along the interpreted new lode zones.

In addition, a lower-density program extends the soil geochemistry coverage outside of the known geochemically anomalous zones.

Subsequently, the slimline RC drilling will follow the completion of the higher-density soil sampling program.

Forward plan

Superior has drawn out key work programs planned to be conducted over the next quarter, which include:

  • progress the SEGP Resource Expansion drilling program, expected to take up to six weeks to complete;
  • complete geophysical modelling of SAM survey data;
  • results from updated scoping study and pit optimisation exercise incorporating updated input
  • assumptions and outcomes from the METS processing options study;
  • the systematic flow of assays from resource expansion drilling program;
  • commencement of SEGP soil sampling programs;
  • metallurgical and other mining study-related work;
  • commencement of SEGP slimline RC Exploration Drilling Program;
  • prefeasibility Study;
  • commencement of the Bottletree CEI critical minerals grant drilling program; and
  • preparation of programs for the Cockie Creek and Wyandotte Porphyry Copper Prospects.

MD comments

Superior managing director Peter Hwang said: “This year’s drill program at Steam Engine represents the most pivotal for the project and from which we expect to establish a maiden Ore Reserve as well as further expansion of the Mineral Resource.

“We also have high expectations for the discovery of significant new gold lodes at very convincing subaudio magnetic, or SAM, geophysical targets.

“The SAM data is particularly exciting as it has provided an entirely new insight into the potential locations of previously unknown lodes.

 

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