HIGHLIGHTS
- High-resolution gravity survey completed over the Bottletree Project area has highlighted a large prominent gravity anomaly located 400m south of previous drilling, considered to potentially represent the core of the Bottletree porphyry Cu-Au system
- Gravity anomaly is coincident with the porphyry core target modelled in 2023 from drill core observations, and for which the Company was awarded a $300,000 Queensland Government CEI Critical Minerals Funding Grant to drill two deep diamond holes this year into the porphyry core target
- Gravity data has also highlighted a second, larger and potentially higher order gravity anomaly to the northeast of the 2022 – 2023 drill program
- 3D inversion modelling of the data indicates that the two gravity anomalies may converge into one body at depth
- Government-backed CEI drill program scheduled to commence during September 2024 with plans to also drill-test the northeastern anomaly as part of the same program
Superior Resources Limited (ASX:SPQ) (Superior or the Company) announces the results from 3D geophysical modelling of high resolution gravity survey data generated over the Bottletree Project area. As an important boost to the Company’s existing porphyry core target, the modelling has highlighted a significant gravity anomaly approximately 400 metres south of previous drill programs. The gravity anomaly also provides additional confirmatory support for the Queensland Government Collaborative Exploration Initiative (CEI)-funded drill holes.
Bottletree is one of several porphyry Cu-Au projects that Superior is advancing in a newly- recognised porphyry belt located in northeast Queensland and within which, the Steam Engine Gold Project is nestled.
Superior’s Managing Director, Peter Hwang, commented:
“The results of the gravity inversion modelling are quite remarkable. This is the first dataset to provide direct detection of a significant body at the location of our 2023-predicted porphyry core target. That target was based on modelling in 2023 of porphyry indicators identified from drill core, that enabled us to vector towards a potential porphyry core located about 400 metres to the south of the current line of drill holes.
“In the context of the collective geological information at Bottletree, the very precise relationships between the gravity anomalies and magnetically anomalous features within the existing magnetic model, are all features that are consistent with a porphyry potassic core being the cause of the gravity anomaly.
“The two CEI holes are perfectly designed to target this gravity anomaly and do not require any adjustments from the original designs as submitted in our CEI application last year.
“These CEI-funded holes are the most critical holes to be drilled at Bottletree.
“However, the gravity modelling also revealed a second large and higher amplitude, or higher density, gravity anomaly to the northeast of our 2022 and 2023 drilling. This anomaly was a complete surprise and we are very intrigued about it as the surface geology, mapped as dolerite, is at odds with the only hole that tested the mapped geology. The magnetic model does not support the feature as being a dolerite. The second anomaly remains unexplained and we are treating the feature as significant and must be followed up with drilling.
“We are naturally very excited and look forward to drilling these targets in a couple of months’ time after some key holes are completed at the Steam Engine Gold Project.”
Read the announcement via this link