- First Cockie Creek drill hole, CCDD001, returns strong porphyry copper mineralisation indicative of a well-mineralised porphyry Cu-Au-Mo system located nearby within the prospect area:o 71m @ 0.48% Cu and 70ppm Mo from 16m (CCDD001)o incl. 31m @ 0.65% Cu and 80ppm Mo from 36m
- Assays are from eastern part of the Mineral Resource area (Discovery Outcrop) and confirm the high grade nature of mineralisation within the Resource envelope
- Mineral Resource area crops out at surface and likely to represent one of several hydrothermal fluid pathways originating from a mineralised porphyry core
- Results are being analysed and pathfinder indicators modelled to enable vectoring of further drilling towards the porphyry core, the source of surface mineralisation
- Numerous batches of assays yet to be received from the labs
- CCDD007 recently completed at western end of Discovery Outcrop
- Porphyry intrusions and mineralisation thickening with depth. Mineralisation also broadens westwards from the Discovery Outcrop towards interpreted large porphyry intrusion centres
- Compelling magnetic anomalies and historical drilling identify a Western Extension Zone, west of the Discovery Outcrop, near several large magnetic features interpreted as porphyry system centres
- Significant potential for the discovery of a large porphyry Cu-Au-Mo mineralisation system
- Potential to significantly expand the historic Mineral Resource Estimate of 13Mt @ 0.42% Cu (0.25% Cu cut-off grade) (JORC 2004)1, which was established over only about half of the known strike of mineralisation at surface and only to shallow depths
- Main period of historic exploration over 30 years ago focussed on the shallow parts of the Discovery Outcrop with no exploration targeting a porphyry system
Superior Resources Limited (ASX:SPQ) (Superior, the Company) confirms the return of strong assays from the first hole drilled (CCDD001) under the Company’s maiden program at the Cockie Creek Prospect. Cockie Creek is one of several porphyry copper-gold-molybdenum prospects within the Company’s 100%-owned Greenvale Project.
The recent receipt of a second batch of assays marks the return of all assays for CCDD001. The assays confirm that the actual copper grades consistently exceed the visual estimations of chalcopyrite mineralisation observed within the core. The mineralisation is predominantly confined within the strong foliation fabric developed within the host porphyry intrusions and not visible on the core surface.
The Cockie Creek mineralisation appears consistently of high grade in porphyry deposit terms, which elevates the mineralisation potential of the system’s core. Observations from the mineralisation, including the extensive strong potassic alteration indicate the possibility that a porphyry core may be located nearby to the current drilling.
The current program represents the first systematic drilling at Cockie for over thirty years and the first to target the prospect as a porphyry system. The program as planned comprises 17 HQ diamond core holes for a total of 6,650m with the following objectives:
– target two high order induced polarisation (IP) chargeability anomalies directly below the Discovery Outcrop. The chargeability anomalies are interpreted to represent the upper zones of a mineralised Cu-Au-Mo porphyry core;
– target interpreted large intrusion centres west of the Discovery Outcrop; and
– establish a JORC (2012)-compliant upgraded Mineral Resource Estimate on the Discovery Outcrop.
Completed drilling to date comprises seven holes for a total of 2,773 metres of core.
Superior’s Managing Director, Peter Hwang commented:
“The quality of the mineralisation at Cockie in terms of grade, consistency and continuity is quite impressive and gives us confidence as to the size and grade potential of the causative porphyry system.
“Although we have only received assays for the first hole, the assays support the general accuracy of our visual estimations of mineralisation in the other holes and enable us to progress the analysis of the important alteration, lithological and structural information obtained from the drill core.
“These assays and the current program are also positively contributing to an upgrade of the Mineral Resource at the Discovery Outcrop, but that outcome is secondary to our primary objective of intersecting the main porphyry deposit system, or core. The main task at hand is to analyse the extensive geological information coming from the drill holes together with the geophysical and geochemical datasets to enable us to vector our drilling towards the core of the porphyry system.
“We believe that several pathfinder vectors are emerging and our efforts at Cockie will focus on data analysis over the next few weeks.
“Drilling at Cockie has significantly outpaced the receipt of assays and the analysis of pathfinder and geological datasets. In the meantime, we have paused the drilling and our team is making preparations to commence the Bottletree Phase 2 drilling program. Details of the Bottletree program will be announced ahead of the start of drilling.”
Read the announcement via this link